DELRAY BEACH, Fla., March 4, 2025 /PRNewswire/ -- Spherity has been recognized as a progressive company in the digital product passport market on the 360Quadrants platform powered by MarketsandMarkets. Market players under this category are typically reported to have an established product portfolio and a strong market presence globally. Moreover, they possess a strong legacy of research & business collaborations with prominent industry stakeholders.
The growing demand for transparent and comprehensive product lifecycle data to enhance sustainability and compliance is driving the growth of the digital product passport (DPP) market. The increasing use of digital tools in industries such as manufacturing, retail and supply chain management has shifted attention to traceability, circular economy practices, and data-sharing frameworks. Companies are heavily investing in more advanced data-collection and analysis techniques and integrating sustainability-driven metrics. This is being augmented by new innovative technologies, including blockchain, that ensure product information is accurate and reliable.
In 2023, Spherity launched VERA Studio, a platform that simplifies Digital Product Passport (DPP) management from prototyping to production. With circular economy insights, and compliance-ready features, It offers industry-specific templates, role-based access control, version management, and secure data handling through verifiable credentials and digital wallets.
Research Methodology
The 360Quadrants provides an in-depth evaluation and comparison of each of the key market players based on various techno-commercial inputs provided by industry experts, customers, distributors, etc., along with secondary research - product brochures, analyst notes, company publications, business articles, white papers, trade sources, and various other databases. A well-defined methodology is adopted to provide detailed ratings to each market player with respect to various parameters as outlined below:
- Shortlisting of 20 prominent market players & start-ups
- Relevant portfolio mapping at the regional level
- Key growth initiatives undertaken at the regional level
- Revenue analysis at a global and category level
- Strategic collaborations with governments, patient/customer groups, etc.
- Other industry-relevant parameters
About 360Quadrants
360Quadrants is the largest marketplace looking to disrupt US $3.7 trillion of technology spend and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. 360Quadrants enables vendors to influence the business decisions of potential clients. Vendors get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in a niche space, to be consumed by giants and start-ups alike. Experts get to grow their brands and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.
360Quadrants has also launched quadrants in fields like AI Training Dataset, Data Center Cooling, and Digital Twin.
About MarketsandMarkets:
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Reference: https://www.marketsandmarkets.com/PressReleases/digital-product-passport-360quadrants.asp
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