Blockchain in Transportation and Logistics Market, By Mode (Sea, Land, and Air), By Organizational Size (Large Enterprises, and SMEs), By Application (Product Traceability, Tracking and Visibility, Payment and Settlement, Smart Contract, Governance Risk and Compliance Management, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Market Trends, Analysis, and Forecast till 2025

The blockchain is a distributed database of records of all the transactions and payments which are executed by the different parties. The blockchain contains a certain and verifiable record of every single transaction ever made. Blockchain makes transfer of data, assets, and money safe, secure and transparent. The blockchain contains a certain and verifiable record of every single transaction ever made. The blockchain technology is an innovative and vital technology as it stands as the proof of all the transactions on the network. It creates a chain of all blocks stored in the system. The blockchain technology helps to maintain a complete database of all addresses and their balances from the origin blocks to the most recent blocks, which is the crucial factor for driving the growth of the market. The global blockchain in transportation and logistics market accounted for US$ 22.5 million in 2019 and is estimated to be US$ 765.5 million by 2025 and is anticipated to register a CAGR of 80.0%.

Impact of Covid-19 pandemic on market

The current COVID-19 pandemic is challenging the blockchain market in the short term. Blockchain can play a crucial role in accelerating digital transformation activities and initiatives amid this crisis. The technology can be used for public health data surveillance, crisis management, donation tracking, securing medical supply chains and others. According to the Organization for Economic Co-operation and Development (OECD), the market will see a slight slowdown, with decrease in technology spending by around 8% in 2020, as compare to the previous year. Governments and other corporate organizations are focusing on deploying innovative solutions to improve the customer’s experience.  This report will quantify the impact of a pandemic on the blockchain in transportation and logistics market.

Increasing adoption of DLT system based on advanced analytics

One of the emerging drivers for the blockchain market is the increasing adoption of the distributed ledger technology (DLT) system based on advanced analytics. DLT is a decentralized system that is used to record transactions with secured mechanisms and advanced data analytics. Services based on the DLT system help to trade and monitor via digital currency. With rise in the adoption of DLT systems and research services, the market is expected to grow in near future.

Growing digitization around the globe

The growing digitization around the world has increased the consumer demand for more transparency in financial transactions, which is paving way for the latest innovations like the blockchain. The financial institutions and the banking sector are the primary end-users of this technology as it provides hassle-free management of the business payments. However, significant initial investment and security concern might be hampering the growth of the target market.

Blockchain in transportation and logistics market is segmented based on mode, organizational size, application and region.

On the basis of mode, the blockchain in transportation and logistics market is segmented into sea, land, and air. Based on organizational size, the target market segmented into large enterprises, and SMEs. Based on application, the target market is segmented into product traceability, tracking and visibility, payment and settlement, smart contract, governance risk and compliance management, and others.

Regional Insights:

On region the blockchain in transportation and logistics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is projected to hold the largest market size in the blockchain market. Early adoption of blockchain technologies by the organizations in the region and the emergence of several blockchain technology providers will contribute to the overall share of the market. Businesses in North America have recognized the potential of the blockchain technology in delivering enhanced customer experiences; hence, they have started adopting the technology to develop business applications.

Blockchain In Transportation And Logistics Market Report Scope:

Segments Covered in the Report:

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2025. For the purpose of this study, has segmented the blockchain in transportation and logistics market report based on mode, organizational size, application, and region.

Blockchain in Transportation and Logistics Market, By Mode:

• Sea
• Land
• Air

Blockchain in Transportation and Logistics Market, By Organizational:

• Large Enterprises
• SMEs

Blockchain in Transportation and Logistics Market, By Application:

• Product Traceability
• Tracking and Visibility
• Payment and Settlement
• Smart Contract
• Governance Risk and Compliance Management
• Others

Blockchain in Transportation and Logistics Market, By Region:

• North America
  • Middle East & Africa
    • • GCC
      • Israel
      • South Africa
      • Rest of Middle East & Africa
  • Latin America
    • • Brazil
      • Mexico
      • Rest of Latin America
  • Asia Pacific
    • • China
      • India
      • Japan
      • South Korea
      • Rest of Asia Pacific
  • Europe
    • • Germany
      • UK
      • France
      • Russia
      • Italy
      • Rest of Europe
  • • U.S.
    • Canada

The key players operating in the blockchain in transportation and logistics market includes IBM, AWS, Microsoft, SAP, Intel, Oracle, Bitfury, Cegeka, Earthport, Guardtime, Digital Asset Holdings, Chain, and  Huawei. The market is especially characterized by collaborations and partnerships between the businesses and acquisitions of smaller players as a part of strategic expansion as well as launching their new product specimen. For instance, In February 2020, Microsoft integrated Lition blockchain into Azure so that Microsoft Azure’s worldwide enterprise clients can develop, test, and deploy Lition side chains and applications with ease on its platform.

• AWS
  • Company Overview
  • Product Portfolio
  • Key Highlights
  • Financial Performance
  • Business Strategies

• IBM
• Microsoft
• SAP
• Intel
• Oracle
• Bitfury
• Cegeka
• Earthport
• Guardtime
• Digital Asset Holdings
• Chain
• Huawei