NEW
YORK, July 10, 2024 /PRNewswire/ -- The global
blockchain technology in transportation and logistics industry is
poised for substantial growth, with an estimated increase of
USD 6.91 billion from 2024 to 2028,
at a CAGR of approximately 60.82%. This growth is driven by
the increasing adoption of blockchain in trucking, facilitated by
the advent of Blockchain-as-a-Service (BaaS). Despite its benefits,
challenges such as high implementation costs remain. Key players
like Accenture, Amazon, IBM, and Microsoft are leading the way.
Real-world applications include transparent supply chain management
(Walmart), secure freight tracking (Maersk), and efficient customs
processing (IBM and Maersk's TradeLens platform).
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report
Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Mode Of Transportation
(Land, Sea, and Others), End-user (SMEs and Large enterprises), and
Geography (North America, Europe, APAC, South America, and Middle
East and Africa)
|
Region
Covered
|
North America, Europe,
APAC, South America, and Middle East and Africa
|
Key companies
profiled
|
Accenture Plc,
Amazon.com Inc., Amcon Soft, Ara Soft Group LLC, Capgemini Service
SAS, Cargoledger, Deloitte Touche Tohmatsu Ltd., HCL Technologies
Ltd., Infosys Ltd., International Business Machines Corp., Koopman
Logistics Group BV, Microsoft Corp., modum.io AG, OpenLedger,
Oracle Corp., PixelPlex Ltd, SAP SE, Slync Inc., Sweetbridge Ltd.,
Tencent Holdings Ltd., and Wipro Ltd.
|
Key Market Trends Fueling Growth
Businesses in the transportation and logistics industry are
increasingly turning to Block-as-a-Service (BaaS) providers to
implement blockchain technology. IBM, Oracle, Microsoft, and Amazon
are among the vendors offering BaaS, recognizing the growing
demand. Enterprises benefit from reduced fraud,
increased transparency, and secure record keeping. BaaS is also
gaining traction in insurance, cybersecurity, and supply chain
management. For enterprises lacking technical expertise, BaaS
providers offer an easier solution. This trend is expected to boost
the adoption of BaaS in the transportation and logistics industry,
contributing to market growth during the forecast period.
Blockchain technology is revolutionizing the transportation and
logistics industry with its distributed ledger system. Companies
like Lean Lane and Horizon Kinetics
are leading the charge, exploring the use of this technology in
verticals like manufacturing supply and public services. Regulatory
acceptance is on the horizon, with regulators and policymakers at
both the national and international levels showing interest. ICOs
and venture capitalists are fueling capital inflows, driving
innovation in this space. Blockchain IoT is a game-changer,
enabling real-time tracking and data registries for record
management and contract information. Smart contracts and digital
identity offer new levels of security and control. However,
challenges remain, including regulatory status, standardization,
interoperability, and technical skillset. Key trends include asset
markets, efficiency, and customer experience. Banking and payments
are also being disrupted with the use of blockchain technology,
including exchanges, smart contracts, and DeFi.
Patents and webinar materials are available for those looking to
learn more. The future of blockchain in transportation and
logistics is bright, offering a diamond standard for document
management and regulatory compliance.
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Market Challenges
- The transportation and logistics industry is exploring the use
of blockchain technology to enhance productivity, security, and
efficiency. However, the implementation of this technology comes
with significant upfront costs. Enterprises must invest in
developing or purchasing custom software and setting up servers and
nodes to store the growing amount of data on the blockchain. The
recurring payment model is not feasible due to the blockchain's
design to store data indefinitely. As the number of transactions
increases, so does the amount of data and the number of nodes
required. Careful consideration of the high implementation costs is
necessary for enterprises in the transportation and logistics
industry before adopting blockchain technology.
- Blockchain technology is revolutionizing the transportation and
logistics industry by providing a secure, transparent, and
efficient way to manage complex supply chains and asset markets.
However, challenges remain, such as regulatory acceptance at both
national and international levels, standardization,
interoperability, and control challenges. Companies like
Lean Lane and LeewayHertz are
leading the way, but regulatory status and technological
complexities present hurdles. ICOs and venture capitalists are
investing in blockchain startups, driving capital inflows and
innovation. Distributed ledger technology, smart contracts, and
digital identity are key components, along with IoT integration and
record management. Policymakers and regulators must work together
to establish clear guidelines and technical skillsets. The
potential for increased efficiency, improved customer experience,
and new business models in banking, manufacturing supply, and
public services is vast. However, security and patents remain
concerns. Join US for a webinar or conference to learn more about
the future of blockchain in transportation and logistics.
Diamond Standard and
DeFi are also areas of interest for industry
verticals.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This blockchain technology in transportation and logistics
industry market report extensively covers market segmentation
by
- Mode Of Transportation
- 1.1 Land
- 1.2 Sea
- 1.3 Others
- End-user
- 2.1 SMEs
- 2.2 Large enterprises
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and
Africa
1.1 Land-
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
Blockchain technology is revolutionizing the transportation and
logistics industry by providing a secure and transparent way to
manage complex supply chains, payments, and documentation. This
decentralized technology enables smart contracts,
ensuring efficiency and reducing the need for intermediaries. With
the ability to create digital identities and secure data
registries, it offers enhanced security and control challenges are
minimized. In the logistics sector, blockchain technology can
streamline record management, from proof of delivery to contract
information. In the manufacturing supply chain, it can ensure the
authenticity of goods and improve traceability. In the payments
sphere, it offers faster and cheaper transactions through
cryptocurrency exchanges. Conferences and industry
events provide a platform for experts to discuss the latest
developments and technical skillset required to implement
blockchain technology. Patents are being filed to protect
intellectual property, and public services are exploring its
potential to improve customer experience and security. Overall,
blockchain technology offers a promising future for the
transportation and logistics industry.
Market Research Overview
Blockchain technology is revolutionizing the transportation and
logistics industry by providing a secure,
decentralized, and transparent solution for various
supply chain processes. The use of blockchain technology in this
sector offers numerous benefits, including efficient payments
through cryptocurrencies and smart contracts, secure
documentation, and digital identity management. The banking sector
is also exploring the use of blockchain technology for faster and
cheaper cross-border payments. At the technical level, blockchain
technology enables interoperability and standardization through the
use of distributed ledgers and digital asset markets. Regulatory
acceptance at both national and international levels is a crucial
factor for the widespread adoption of blockchain technology in the
transportation and logistics industry. Key verticals, such as
manufacturing supply and record management, are leveraging
blockchain technology to improve efficiency, security, and control.
The use of blockchain IoT is also gaining popularity for real-time
tracking and monitoring of goods in transit. Venture capitalists
and policymakers are investing in and promoting the use of
blockchain technology in the transportation and logistics industry.
The industry is also witnessing a surge in capital inflows through
Initial Coin Offerings (ICOs) and the growth of
decentralized finance (DeFi) platforms.
The regulatory status of blockchain technology in the
transportation and logistics industry is a challenge that needs to
be addressed. Policymakers and regulators are working to establish
clear guidelines and standards for the use of blockchain technology
in this sector. The use of blockchain technology in the
transportation and logistics industry offers a wealth of
opportunities for innovation and disruption. Companies are
exploring the use of smart contracts for automating complex
processes, creating new business models, and improving customer
experience. In conclusion, the transportation and logistics
industry is on the brink of a blockchain revolution. The use of
blockchain technology offers numerous benefits, including
efficiency, security, and transparency. However, regulatory
acceptance and standardization are crucial factors for the
widespread adoption of this technology. The future of the
transportation and logistics industry is exciting, and blockchain
technology is at the forefront of this transformation. Here are
some webinar materials and resources for further reading on
blockchain technology in the transportation and logistics industry:
1. "Blockchain in Transportation and Logistics: Use Cases,
Challenges, and Opportunities" by Gartner 2. "Blockchain in
Logistics: Use Cases and Benefits" by DHL 3. "Blockchain in
Transportation and Logistics: A Comprehensive Review" by Springer
4. "Blockchain in Logistics: Current State and Future Prospects" by
ResearchGate 5. "Blockchain in Transportation and Logistics: A
Review" by IEEE Access.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Mode Of Transportation
-
- End-user
-
- Geography
-
- North America
- Europe
- APAC
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
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Contacts
Technavio Research
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Email: media@technavio.com
Website: www.technavio.com/
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