Digital Product Passport Software Market, By Deployment (Cloud-based and On-premise), By Enterprise Size (Small and Medium Sized Enterprises and Large Enterprises), By Industry Vertical (Manufacturing, Retail, Automotive, Logistics, and Others)), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

Published In : Jun 2024

Code : CMI7042

Pages :167

Formats :

Excel and PDF

Industry : Information and Communication Technology

Market Concentration and Competitive Landscape

Digital Product Passport Software Market Concentration By Players

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Supporting Sustainable and Circular Business Models

Beyond compliance, digital passports also allow organizations to develop innovative new business models centered around sustainability and the circular economy. By having comprehensive historic data on a product's materials, components, location and usage, companies can optimize design for disassembly and reuse. Manufacturers may offer refurbishment services or takeback programs, reintegrating parts or materials back into their supply chains. Digital passports also enable new rental, reuse, and resale models where ownership changes but the product’s identity and story persists digitally. For consumers, they help make more informed choices about what to buy, lease or dispose based on a product’s remaining useful life and potential for upgrading/recycling. Various initiatives by governments, industries as well as conscious consumers are placing immense pressure on brands to demonstrate sustainability commitments. Digital passports can demonstrate concrete actions towards minimizing environmental impacts and closing resource loops over a product’s entire lifecycle.

For instance, In January 2022, iPoint Systems GmbH a provider of software and consulting for environmental and social product compliance, and sustainability. and BASF a chemical producer partnered to establish a standardized approach for calculating product carbon footprints (PCFs) in the chemical industry. This partnership aligns with the European Green Deal and Circular Economy Action Plan, facilitating transparent product carbon footprint reporting to support sustainability goals through Digital Product Passports (DPPs).

Key Players Insights