About Blockchain Technology in Transportation and Logistics
Blockchain Technology with help of the Internet of Things (IoT) is being used for capacity monitoring in transportation and logistics. By using IoT sensors in trucks and other shipping vehicles, shippers and transportation companies can detect the amount of space taken and determine price accordingly. The blockchain enables to block theft, ransomware, corruption, premium fees, and problems with the tracking. As per a secondary source, the implementation of the blockchain technology allows companies to save USD 50 billion a year at first, and over USD 500 billion a year after blockchain networks reach the mass market. Blockchain ensures trustworthy data across the transportation and logistics ecosystem. The increasing number of cargo thefts has driven the market demand.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 55.02% |
Global blockchain technology in transportation and logistics market consists of few established players accounting for the major market shares. These key players are competing through innovations in solutions and services to gain popularity in the market. The entry of private-labels in the market and the increasing competition has induced the vendors in this market to launch different products and services to maintain sustainability through unique and clear propositions. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Accenture Plc (Ireland), Capgemini (France), Infosys Ltd. (India), IBM Corporation (United States), Microsoft Corporation (United States), Oracle Corporation (United States), SAP SE (Germany) and Tata Consultancy Services Ltd. (India) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Tencent Holdings Ltd. (China) and Wipro Ltd. (India).
Segmentation Overview
AMA Research has segmented the market of Global Blockchain Technology in Transportation and Logistics market by Type (Software and Service) and Region.
On the basis of geography, the market of Blockchain Technology in Transportation and Logistics has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Organization Size, the sub-segment i.e. Small & Medium-Sized Enterprises will boost the Blockchain Technology in Transportation and Logistics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Blockchain Type, the sub-segment i.e. Public will boost the Blockchain Technology in Transportation and Logistics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Transportation Mode, the sub-segment i.e. Sea will boost the Blockchain Technology in Transportation and Logistics market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Combining Blockchain and IoT
Market Growth Drivers:
Growing Number Of Cargo Thefts and Faster and Leaner Logistics in Global Trade
Challenges:
Lack of Skilled Professionals
Restraints:
High Cost of Implementation and Uncertain Regulatory And Compliance Environment
Opportunities:
Need For Improving Transparency And Traceability In Supply Chains, Rising Implementation of Blockchain in Airports and Increasing Venture Capital Funding And Investments In Blockchain Technology
Key Target Audience
New Entrants/Investors, Analysts and Strategic Business Planners, Blockchain Technology in Transportation and Logistics Manufacturer, Technology Service Providers, Venture Capitalists and Private Equity Firms, Government Regulatory and Research Organizations and End Use Industry
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.