The digital product passport software market allows companies to digitally manage product information and documentation throughout a product’s lifecycle and supply chain. Digital product passports capture important details like materials, components, environmental impact certifications and recyclability/reuse parameters. This helps ensure products and materials are ethically sourced, safely manufactured and can be traced in the supply chain. Digital passports also help companies comply with emerging sustainability, circular economy and supply chain transparency regulations more efficiently.

The Global Digital Product Passport Software Market is estimated to be valued at US$ 991.8 Mn in 2024 and is expected to exhibit a CAGR of 26% over the forecast period from 2024 to 2031.

Key Takeaways

Key players operating in the digital product passport software market are Billon Group Ltd, CIRCULARISE, CIRPASS, Det Norske Veritas Group, iPoint-systems GmbH, Kezzler AS, LyondellBasell Industries Holdings B.V., Narravero GmbH, OPTEL GROUP, Protokol, PSQR, Qliktag Software Inc., Scantrust SA, Spherity GmbH, and THE ID FACTORY SRL.

The growing demand for digitally managing product compliance and supply chain transparency is a major factor driving growth of Digital Product Passport Software Market Demand. Industries are under increasing pressure to demonstrate ethical sourcing, sustainability and provide end-to-end supply chain visibility to customers. Digital product passports address these challenges effectively.

The global digital product passport software market is also expanding as international regulations around supply chain compliance increase. More countries and trade blocs are implementing regulations on conflict minerals, chemical disclosure, fair labor practices and circular economy. This is motivating companies operating globally to adopt digital product passports to efficiently meet diverse compliance needs across regions.