According to a new report, published by KBV research, The Global Digital Product Passport Market size is expected to reach $3.22 billion by 2032, rising at a market growth of 41.7% CAGR during the forecast period.
Innovation is at the heart of the market, with cutting-edge technologies driving its evolution. Blockchain technology is a cornerstone, providing a secure, immutable ledger for product data, as seen in solutions from providers like Circularise and Minespider. IoT sensors enable real-time monitoring of product conditions, enhancing traceability across supply chains. AI is increasingly used to analyze lifecycle data, predict product behavior, and automate compliance processes, transforming DPPs into active systems that monitor supply chain disruptions and improve operational efficiency.
The Cloud market segment is experiencing a CAGR of 42 % during the forecast period. This growth was fuelled by the increasing adoption of scalable, flexible, and cost-effective solutions, particularly among small and medium-sized enterprises (SMEs). Cloud deployment enabled faster implementation, remote access, and seamless updates, which appealed to businesses looking to improve supply chain transparency and comply with sustainability regulations.
The Software segment led the maximum revenue in the Global Digital Product Passport Market by Offering in 2024, thereby, achieving a market value of $2.11 billion by 2032. This is reflecting growing adoption of digital tools designed to collect, manage, and share product lifecycle information. Organizations implemented software platforms to digitize product information, enhance transparency, and streamline traceability across supply chains.
The Consumer Electronics segment is growing at a CAGR of 40.3 % during the forecast period. This was propelled by the need for enhanced product lifecycle management, repairability data, and recycling information. DPPs were increasingly integrated into electronic devices to help users and service providers access information on origin, components, carbon footprint, and maintenance guidelines.
The Europe region dominated the Global Digital Product Passport Market by Region in 2024, thereby, achieving a market value of $1.29 billion by 2032. The North America region is anticipated to grow a CAGR of 41.2% during (2025 - 2032). Additionally, The Asia Pacific region would witness a CAGR of 42.7% during (2025 - 2032).
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