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European Digital Product Passport for Circular Value Chains

Publisher IDC
Published Jul 24, 2024
Length 12 Pages
SKU # IDC19023988

Description

European Digital Product Passport for Circular Value Chains


This IDC Market Perspective presents key insights into the European digital product passport (DPP) initiative, which will be mandatory for all products in the EU by 2030. This initiative aims to enhance product life-cycle transparency and support circular economy principles by providing detailed information on sustainability aspects such as origin, materials, and recyclability. Technology plays a pivotal role in the delivery of DPPs. European companies already delivering DPPs include Mango and Tommy Hilfiger, in addition to various EU projects that illustrate DPPs' practical applications and role in promoting sustainable practices and circular value chains."In embracing the future of sustainability with the introduction of digital product passports, organizations will have improved sustainability postures as well as be able to foster innovation and trust across their global value chains," said Erica Spinoni, senior research analyst, IDC's European Digital Business Strategies. "Technology plays a pivotal role in the rollout of DPP initiatives, with blockchain, IoT, digital twins, data analytics, and cloud computing being instrumental. These technologies ensure secure, reliable data storage and sharing, supporting DPPs' goals of sustainability and transparency."

Please Note: Extended description available upon request.

Table of Contents

12 Pages

Executive Snapshot

New Market Developments and Dynamics

What is the Digital Product Passport?

What Benefits Will Digital Product Passports Bring? Why is it Being Introduced?

Consumers

Vendors

Value Chain Partners

Regulators and Governments

Who's Responsible for Creating DPPs?

The Pivotal Role of Technologies in the Delivery of a Digital Product Passport

What are the Direct and Spillover Benefits?

Monetizing the Digital Product Passport

Challenges

Digital Product Passports: Examples From European Companies

Advice for the Technology Supplier and Services Provider

Learn More

Related Research

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