The blockchain in transportation and logistics market is estimated to record a CAGR of 38.3% from 2023 to 2031. The rise in the transportation industry is considered a blockchain in the transportation and logistics market trend.
Blockchain in Transportation and Logistics Market Analysis
- Some of the major factors influencing the blockchain in the transportation and logistics market are the high security offered by blockchain technology, the rise in digitalization, and the rising applications of blockchain.
- Moreover, the benefits of blockchain in the transportation and logistics industry include increased data security, improved tracking systems, saving time, and enhanced management processes to foster blockchain in transportation and logistics market growth.
- Furthermore, using the Internet Of Things (IoT) And AI to increase the efficiency of blockchain technology and foster blockchain in transportation and logistics market size. By using IoT sensors and AI in trucks and other shipping vehicles, logistics and transportation companies can identify the amount of space taken up in a shipment and find out the cost accordingly, transmitting all of this information to the blockchain.
Blockchain in Transportation and Logistics Industry Overview
- Blockchain is one of the advanced technologies used in the transportation and logistics industry. It uses advanced mechanisms for storing data and managing its database. Blockchain keeps the information transparent over a highly secure business network. It stores the data in blocks and connects them through a chain, which makes the system robust and difficult to hack.
- Blockchain helps transport and logistics companies manage fleets, routes, and overall operations. It helps in order delivery tracking, which helps the companies offer same-day or express delivery within one or two hours.
Strategic Insights
Blockchain in Transportation and Logistics Market Drivers and Opportunities
Rise in retail and e-commerce to Drive the Blockchain in the transportation and logistics market.
- Some of the factors such as urbanization, income growth, and rise in population are some of the vital reason that drives the retail industry. In addition, digitalization and customer preference to shop anything from anywhere have resulted in the growing retail and e-commerce industry.
- There are several benefits of using blockchain technology in the retail and e-commerce industry to enhance the delivery process, helping companies to grow and achieve error and hassle-free delivery processes, which act as one of the major drivers for the blockchain in transportation and logistics market growth.
Blockchain in Transportation and Logistics Market Report Segmentation Analysis
- Based on components, the blockchain in the transportation and logistics market is segmented into solutions and services.
- The solution segment holds the largest blockchain in transportation and logistics market share in 2023.
Blockchain in Transportation and Logistics Market Share Analysis By Geography
The scope of the blockchain in transportation and logistics market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. In terms of revenue, North America dominated the blockchain in transportation and logistics market share in 2023. The Asia Pacific region is expected to grow with the highest CAGR during the forecast period.
The majority of the global players are in North America which fuels the North America blockchain in transportation and logistics market share. As the region is a pioneer in technology, the incorporation of various software tools coupled with data analytics enhanced the demand for their products in the global market.
Blockchain in Transportation and Logistics Market Report Scope
The "Blockchain in Transportation and Logistics Market Analysis" was carried out based on components, mode of transportation, and geography. Based on components, the market is segmented into solutions and services. Based on the mode of transportation, the market is segmented into land, air, and sea. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Blockchain in Transportation and Logistics Market News and Recent Developments
The blockchain in transportation and logistics market report includes company positioning and concentration to evaluate the performance of competitors/players in the market. Companies adopt inorganic and organic strategies such as mergers and acquisitions in the blockchain in the transportation and logistics market. The blockchain in transportation and logistics market forecasts can help stakeholders plan their growth strategies. A few recent key market developments are listed below:
- In May 2023, BOTLabs GmbH, developer of KILT Protocol and Deloitte Consulting AG, announced the integration of KILT blockchain technology for issuing reusable digital credentials to support KYC and KYB processes. These credentials have multiple use cases, including regulatory compliance for banking and Decentralized Finance (DeFi), age verification for e-commerce, private logins, and fundraising. [Source: Deloitte, Company News]
- In February 2024, UNCTAD and partners launched a new e-learning course on 6 February to equip policymakers with a practical methodology to tap blockchains to make trade faster, less costly, and more secure. As a shared ledger, blockchain can help streamline customs clearance by improving coordination and real-time information sharing. It allows trade documents to be validated and made available to all relevant stakeholders while preserving the privacy of traders through encryption. [Source: UNCTAD, Organization News]
Blockchain in Transportation and Logistics Market Report Coverage & Deliverables
The market report on “Blockchain in Transportation and Logistics Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-
- Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities.
- Key future trends.
- Detailed PEST & SWOT analysis
- Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
- Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
- Detailed company profiles.
Blockchain in Transportation and Logistics Market Report Analysis
-
CAGR (2023 - 2031)38.3% -
Market Size 2023
US$ XX Million -
Market Size 2031
US$ XX Million
Report Coverage
- Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
- Key future trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- Industry landscape and competition analysis & recent developments
- Detailed company profiles
- Global and regional market analysis covering key market trends, major players, regulations, and recent market developments
Key Players
- Accenture
- IBM
- Oracle
- Microsoft
- Amazon
- AMCON SOFT
- PixelPlex
- OpenLedger
- HCL Technologies
- Infosys Ltd.
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
By Component
- Solution
- Services
By Mode of Transportation
- Land
- Air
- Sea
Blockchain in Transportation and Logistics Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ XX Million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2023 - 2031) | 38.3% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
The global blockchain in the transportation and logistics market is expected to grow at a CAGR of 38.3 % during the forecast period 2024 - 2031.
The rise in the transportation industry is anticipated to play a significant role in the global blockchain in the transportation and logistics market in the coming years.
The rise in digitalization, growing adoption of blockchain technology, and growth in the retail and e-commerce industry are the major factors that propel the global blockchain in the transportation and logistics market.
The key players holding majority shares in the global blockchain in the transportation and logistics market are Accenture, IBM, Oracle, Microsoft, and Amazon.
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- Accenture
- IBM
- Oracle
- Microsoft
- Amazon
- AMCON SOFT
- PixelPlex
- OpenLedger
- HCL Technologies
- Infosys Ltd.
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