Global digital product passport software market is anticipated to grow at a significant CAGR of 19.1% during the forecast period (2024-2031). The market is expected to increase as more companies realize how valuable DPPs are in reducing risks, increasing efficiency, and satisfying customer expectations. DPP systems are expected to employ blockchain technology to guarantee the integrity and transparency of product data. It is configured to provide safe tracking throughout the lifecycle of the product thanks to its distributed ledger capability, which records information and transactions.
Browse the full report description of “Digital Product Passport Software Market Size, Share & Trends Analysis Report by Deployment (Cloud-Based and On-Premise), by Application (Supply Chain Management, Environmental Impact Assessment, Circular Economy, Regulatory Compliance & Reporting, and Other Applications), and by Industry (Retail, Chemical, Automotive, Healthcare, Electrical Goods and Others (Travel & Leisure, Logistics, and Steel)), Forecast Period (2024-2031)” at https://www.omrglobal.com/industry-reports/digital-product-passport-software-market
Businesses are searching for DPP software solutions that can analyze data and spot trends, patterns, and abnormalities using artificial intelligence and sophisticated analytics. Predictive maintenance, supply chain optimization, and quality optimization are more applications for the data. It is expected that businesses will employ DPP software to ensure sustainability and compliance with strict regulations and industry requirements. Demand is increased since it contributes to transparency regarding the materials, origins, and environmental impact of products.
In April 2024, the EU Battery Passport navigated the interoperability and data security. There is a significant policy shift, addressing the entire lifecycle of batteries, from production and use to disposal and recycling. A key aspect of this legislation is the introduction of a digital battery passport, designed to ensure transparency in battery manufacturing and usage. The initiative, launched in alignment with the transition towards low-carbon transportation and Electric Vehicles (EVs), aims to steer away from irresponsible mining practices, promote sustainability, and set a new standard for battery production and disposal.
In January 2024, Circularise’s digital product passports prove successful in Japan’s plastic recycling trials. It has partnered with the Japan Circular Economy Partnership (J-CEP), AMITA Corp., and Marubeni Corp., to set up a new standard in the fight against plastic pollution. This collaboration has led to the creation of DPPs that track and verify the lifecycle of plastic bottle caps, from collection to their transformation into high-quality recycled products.
In October 2022, Point Systems Gmbh joined CIRPASS to lay the ground for the deployment of European Digital Product Passports. This collaboration has brought together a core network of leading and organizations in building the European vision for a unified Digital Product Passport approach across multiple value chains. Funded by the European Commission under the Digital Europe Programme, CIRPASS aims to prepare the ground for the gradual piloting and deployment of the DPPs from 2023 onwards, with an initial focus on the electronics, batteries, and textile sectors.
Market Coverage
• The market number available for – 2023-2031
• Base year- 2023
• Forecast period- 2024-2031
• Segment Covered-
o By Deployment
o By Application
o By Industry
• Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
• Competitive Landscape- Billon Group Ltd., CIRCULARISE, CIRPASS, Det Norske Veritas Group, and iPoint-systems GmbH, among others.
Key questions addressed by the report.
Global Digital Product Passport Software Market Report Segment
By Deployment
By Application
By Industry
Global Digital Product Passport Software Market Report Segment by Region
North America
• United States
• Canada
Europe
• UK
• Germany
• Italy
• Spain
• France
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Latin America
• Middle East & Africa
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