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Blockchain Technology Market in Transportation and Logistics Industry by Application and Geography - Forecast and Analysis 2021-2025

  • Published: Jun 2021
  • Pages: 130
  • SKU: IRTNTR44362
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The blockchain technology market in transportation and logistics industry market share is expected to increase by USD 888.97 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 49.93%.

This blockchain technology market in transportation and logistics industry market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers blockchain technology market in transportation and logistics industry market segmentation by application (sea, land, and others) and geography (North America, Europe, APAC, and South America). The blockchain technology market in transportation and logistics industry market report also offers information on several market vendors, including Accenture Plc, Capgemini SE, Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., Tencent Holdings Ltd., and Wipro Ltd. among others.

What will the Blockchain Technology Market In Transportation and Logistics Industry Market Size be During the Forecast Period?

Blockchain Technology Market Size

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Blockchain Technology Market In Transportation and Logistics Industry Market: Key Drivers, Trends, and Challenges

The growing use of blockchain technology for trucking is notably driving the blockchain technology market in transportation and logistics industry market growth, although factors such as may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the blockchain technology market in transportation and logistics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Market Driver

The key market driver for blockchain technology market in transportation and logistics industry market is the growing use of blockchain technology for trucking.The growing number of infrastructure projects rise in demand from the logistics sector, and the increasing demand for an efficient supply chain to transport goods are boosting the demand for trucks. For instance, in the US, trucking generated more than $791.7 billion in 2019, which was almost four-fifth of the total freight bill in the region. Also, trucks move more than two-thirds weight of the freight in the US. Blockchain technology stores information in incorruptible blocks across a shared digital network. This can revolutionize the trucking and logistics industries, as the technology can help trucking companies in tracking shipments, managing fleets, and completing transactions.In addition, the blockchain will also increase the efficiency of business operations in the trucking industry by reducing the need for checking business transactions and enhancing visibility by ensuring that capacity planning is operating smoothly. This will lead to an increase in the adoption of blockchain technology in the transportation and logistics industry, thereby leading to the growth of the blockchain technology market in the transportation and logistics industry during the forecast period.

Key Market Trend

The key market driver for blockchain technology market in transportation and logistics industry market is the advent of blockchain as-a-service(BaaS).Enterprises are experiencing the growing need to adopt BaaS, as it helps them in reducing fraud, increasing transparency, and providing secure record keeping. BaaS is slowly gaining ground in diverse fields such as insurance, cybersecurity, and supply chain management. However, enterprises that are lacking in technical expertise and wanting to adopt this technology will opt for services from BaaS providers. Hence, enterprises that will not have the resources and infrastructure to develop a blockchain in-house will opt for BaaS providers to make the task easier. This will lead to an increase in the adoption of BaaS in the transportation and logistics industry, thereby helping the market to grow during the forecast period.

Key Market Challenge

The key market driver for blockchain technology market in transportation and logistics industry market is the high cost for implementing and maintaining blockchain technology.The cost of implementing the blockchain is high, as enterprises in the transportation and logistics industry have to incur expenses for implementing servers and nodes to hold the exponentially increasing amount of data that will be added to the blockchain. A blockchain database is designed in a way to store data indefinitely, so the recurring payment model does not work. As every transaction is stored in the ledger, the amount of data will increase rapidly in the blockchain, depending on the frequency and number of transactions. Also, the number of individual processing nodes in the blockchain in an enterprise increases from time to time as the network grows. This will further add to the cost of implementing the blockchain, thereby affecting the growth of the market during the forecast period. 

This blockchain technology market in transportation and logistics industry market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes blockchain technology market in transportation and logistics industry as a part of the global data processing and outsourced services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the blockchain technology market in transportation and logistics industry market during the forecast period.

Who are the Major Blockchain Technology Market In Transportation and Logistics Industry Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Accenture Plc
  • Capgemini SE
  • Infosys Ltd.
  • International Business Machines Corp.
  • Microsoft Corp.
  • Oracle Corp.
  • SAP SE
  • Tata Consultancy Services Ltd.
  • Tencent Holdings Ltd.
  • Wipro Ltd.

 

This statistical study of the blockchain technology market in transportation and logistics industry market encompasses successful business strategies deployed by the key vendors. The blockchain technology market in transportation and logistics industry market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The blockchain technology market in transportation and logistics industry market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Blockchain Technology Market In Transportation and Logistics Industry Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the blockchain technology market in transportation and logistics industry market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of global data processing and outsourced services market includes the following core components:

  • Inputs
  • Inbound logistics
  • Operations
  • Outbound logistics
  • Marketing and sales
  • Service
  • Support activities
  • Innovation

The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.

 

Which are the Key Regions for Blockchain Technology Market In Transportation and Logistics Industry Market?

Blockchain Technology Market Market segmentation by region

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55% of the market's growth will originate from North America during the forecast period. US and Canada are the key markets for market in North America. Market growth in this region will be faster than the growth of the market in regions.

Booming e-commerce industry will facilitate the market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

North America was negatively impacted by the outbreak of the COVID-19 pandemic in 2020. The governments across the region imposed lockdowns that significantly halted the public transport industry.  However, the rise of e-commerce and the growing demand for traditional goods accelerated the growth of the logistics industry in the region. The pandemic led to an accelerated need for blockchain technology since it helped the transportation and logistics companies to increase efficiency in business processes and lower shipping costs and also provide scalable and immediate solutions for order tracking and authentication. Such factors are expected to enhance the growth of blockchain technology in the transportation and logistics industry in the region during the forecast period.

What are the Revenue-generating Application Segments in the Blockchain Technology Market In Transportation and Logistics Industry Market?

Blockchain Technology Market Segmentation

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The blockchain technology market in transportation and logistics industry share growth by the sea segment has been significant. The increasing concerns in the shipping industry about security and transparency are encouraging the implementation of blockchain technology in the shipping processes, as blockchain technology works in a safe and programmed environment. As blockchain technology uses elaborate encryption procedures for data, it is impossible to hack or alter the data when it is present in a blockchain. This factor leads to the increasing adoption of blockchain technology in the shipping industry.

This report provides an accurate prediction of the contribution of all the segments to the growth of the blockchain technology market in transportation and logistics industry market size and actionable market insights on post COVID-19 impact on each segment.

 

Blockchain Technology Market In Transportation and Logistics Industry Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 49.93%

Market growth 2021-2025

USD 888.97 million

Market structure

Fragmented

YoY growth (%)

40.00

Regional analysis

North America, Europe, APAC, and South America

Performing market contribution

North America at 55%

Key consumer countries

US, UK, China, Germany, and Canada

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Accenture Plc, Capgemini SE, Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., Tencent Holdings Ltd., and Wipro Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Blockchain Technology Market In Transportation and Logistics Industry Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive blockchain technology market in transportation and logistics industry market growth during the next five years
  • Precise estimation of the blockchain technology market in transportation and logistics industry market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the blockchain technology market in transportation and logistics industry industry across North America, Europe, APAC, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of blockchain technology market in transportation and logistics industry market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis for data processing and outsourced services

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)
    • 3.5 Impact of COVID-19 on Blockchain Technology

      4 Five Forces Analysis

      • 4.1 Five forces summary
        • Exhibit 08: Five forces analysis 2020 & 2025
      • 4.2 Bargaining power of buyers
        • Exhibit 09: Bargaining power of buyers
      • 4.3 Bargaining power of suppliers
        • Exhibit 10: Bargaining power of suppliers
      • 4.4 Threat of new entrants
        • Exhibit 11: Threat of new entrants
      • 4.5 Threat of substitutes
        • Exhibit 12: Threat of substitutes
      • 4.6 Threat of rivalry
        • Exhibit 13: Threat of rivalry
      • 4.7 Market condition
        • Exhibit 14: Market condition - Five forces 2020

      5 Market Segmentation by Mode

      • 5.1 Market segments
        • 5.2 Comparison by Mode
          • 5.3 Sea - Market size and forecast 2020-2025
            • Exhibit 17: Sea - Market size and forecast 2020-2025 ($ million)
            • Exhibit 18: Sea - Year-over-year growth 2020-2025 (%)
          • 5.4 Land - Market size and forecast 2020-2025
            • Exhibit 19: Land - Market size and forecast 2020-2025 ($ million)
            • Exhibit 20: Land - Year-over-year growth 2020-2025 (%)
          • 5.5 Others - Market size and forecast 2020-2025
            • Exhibit 21: Others - Market size and forecast 2020-2025 ($ million)
            • Exhibit 22: Others - Year-over-year growth 2020-2025 (%)
          • 5.6 Market opportunity by Mode
            • Exhibit 23: Market opportunity by Mode

          6 Customer landscape

          7 Geographic Landscape

          • 7.1 Geographic segmentation
            • Exhibit 25: Market share by geography 2020-2025 (%)
          • 7.2 Geographic comparison
            • Exhibit 26: Geographic comparison
          • 7.3 North America - Market size and forecast 2020-2025
            • Exhibit 27: North America - Market size and forecast 2020-2025 ($ million)
            • Exhibit 28: North America - Year-over-year growth 2020-2025 (%)
          • 7.4 Europe - Market size and forecast 2020-2025
            • Exhibit 29: Europe - Market size and forecast 2020-2025 ($ million)
            • Exhibit 30: Europe - Year-over-year growth 2020-2025 (%)
          • 7.5 APAC - Market size and forecast 2020-2025
            • Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
            • Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
          • 7.6 South America - Market size and forecast 2020-2025
            • Exhibit 33: South America - Market size and forecast 2020-2025 ($ million)
            • Exhibit 34: South America - Year-over-year growth 2020-2025 (%)
          • 7.7 MEA - Market size and forecast 2020-2025
            • Exhibit 35: MEA - Market size and forecast 2020-2025 ($ million)
            • Exhibit 36: MEA - Year-over-year growth 2020-2025 (%)
          • 7.8 Key leading countries
            • Exhibit 37: Key leading countries
          • 7.9 Market opportunity by geography
            • Exhibit 38: Market opportunity by geography ($ million)

          8 Drivers, Challenges, and Trends

          • 8.1 Market drivers
            • 8.2 Market challenges
              • Exhibit 39: Impact of drivers and challenges
            • 8.3 Market trends

              9 Vendor Landscape

              • 9.1 Overview
                • Exhibit 40: Vendor landscape
              • 9.2 Landscape disruption
                • Exhibit 41: Landscape disruption
                • Exhibit 42: Industry risks

              10 Vendor Analysis

              • 10.1 Vendors covered
                • 10.2 Market positioning of vendors
                  • Exhibit 44: Market positioning of vendors
                • 10.3 Accenture Plc
                  • Exhibit 45: Accenture Plc - Overview
                  • Exhibit 46: Accenture Plc - Business segments
                  • Exhibit 47: Accenture Plc – Key news
                  • Exhibit 48: Accenture Plc - Key offerings
                  • Exhibit 49: Accenture Plc - Segment focus
                • 10.4 Capgemini SE
                  • Exhibit 50: Capgemini SE - Overview
                  • Exhibit 51: Capgemini SE - Business segments
                  • Exhibit 52: Capgemini SE – Key news
                  • Exhibit 53: Capgemini SE - Key offerings
                  • Exhibit 54: Capgemini SE - Segment focus
                • 10.5 Infosys Ltd.
                  • Exhibit 55: Infosys Ltd. - Overview
                  • Exhibit 56: Infosys Ltd. - Business segments
                  • Exhibit 57: Infosys Ltd. – Key news
                  • Exhibit 58: Infosys Ltd. - Key offerings
                  • Exhibit 59: Infosys Ltd. - Segment focus
                • 10.6 International Business Machines Corp.
                  • Exhibit 60: International Business Machines Corp. - Overview
                  • Exhibit 61: International Business Machines Corp. - Business segments
                  • Exhibit 62: International Business Machines Corp. – Key news
                  • Exhibit 63: International Business Machines Corp. - Key offerings
                  • Exhibit 64: International Business Machines Corp. - Segment focus
                • 10.7 Microsoft Corp.
                  • Exhibit 65: Microsoft Corp. - Overview
                  • Exhibit 66: Microsoft Corp. - Business segments
                  • Exhibit 67: Microsoft Corp. – Key news
                  • Exhibit 68: Microsoft Corp. - Key offerings
                  • Exhibit 69: Microsoft Corp. - Segment focus
                • 10.8 Oracle Corp.
                  • Exhibit 70: Oracle Corp. - Overview
                  • Exhibit 71: Oracle Corp. - Business segments
                  • Exhibit 72: Oracle Corp. - Key offerings
                  • Exhibit 73: Oracle Corp. - Segment focus
                • 10.9 SAP SE
                  • Exhibit 74: SAP SE - Overview
                  • Exhibit 75: SAP SE - Business segments
                  • Exhibit 76: SAP SE – Key news
                  • Exhibit 77: SAP SE - Key offerings
                  • Exhibit 78: SAP SE - Segment focus
                • 10.10 Tata Consultancy Services Ltd.
                  • Exhibit 79: Tata Consultancy Services Ltd. - Overview
                  • Exhibit 80: Tata Consultancy Services Ltd. - Business segments
                  • Exhibit 81: Tata Consultancy Services Ltd. – Key news
                  • Exhibit 82: Tata Consultancy Services Ltd. - Key offerings
                  • Exhibit 83: Tata Consultancy Services Ltd. - Segment focus
                • 10.11 Tencent Holdings Ltd.
                  • Exhibit 84: Tencent Holdings Ltd. - Overview
                  • Exhibit 85: Tencent Holdings Ltd. - Business segments
                  • Exhibit 86: Tencent Holdings Ltd. - Key offerings
                  • Exhibit 87: Tencent Holdings Ltd. - Segment focus
                • 10.12 Wipro Ltd.
                  • Exhibit 88: Wipro Ltd. - Overview
                  • Exhibit 89: Wipro Ltd. - Business segments
                  • Exhibit 90: Wipro Ltd. - Key offerings
                  • Exhibit 91: Wipro Ltd. - Segment focus

                11 Appendix

                • 11.1 Scope of the report
                  • 11.2 Currency conversion rates for US$
                    • Exhibit 92: Currency conversion rates for US$
                  • 11.3 Research methodology
                    • Exhibit 93: Research Methodology
                    • Exhibit 94: Validation techniques employed for market sizing
                    • Exhibit 95: Information sources
                  • 11.4 List of abbreviations
                    • Exhibit 96: List of abbreviations

                  Research Framework

                  Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                  TechnavioINFORMATION SOURCES

                  Primary sources

                  • Manufacturers and suppliers
                  • Channel partners
                  • Industry experts
                  • Strategic decision makers

                  Secondary sources

                  • Industry journals and periodicals
                  • Government data
                  • Financial reports of key industry players
                  • Historical data
                  • Press releases
                  Technavio

                  TechnavioDATA ANALYSIS

                  Data Synthesis

                  • Collation of data
                  • Estimation of key figures
                  • Analysis of derived insights

                  Data Validation

                  • Triangulation with data models
                  • Reference against proprietary databases
                  • Corroboration with industry experts
                  Technavio

                  TechnavioREPORT WRITING

                  Qualitative

                  • Market drivers
                  • Market challenges
                  • Market trends
                  • Five forces analysis

                  Quantitative

                  • Market size and forecast
                  • Market segmentation
                  • Geographical insights
                  • Competitive landscape
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                  Blockchain Technology Market in Transportation and Logistics Industry Market market growth will increase by $888.97 mn during 2021-2025.
                  The blockchain technology market in transportation and logistics industry market market is expected to grow at a CAGR of 49.93% during 2021-2025.
                  Technavio has segmented the blockchain technology market in transportation and logistics industry market market by application (sea, land, and others) and geography (North America, Europe, APAC, South America, and MEA).
                  Accenture Plc, Capgemini SE, Infosys Ltd., International Business Machines Corp., Microsoft Corp., Oracle Corp., SAP SE, Tata Consultancy Services Ltd., Tencent Holdings Ltd., Wipro Ltd. are a few of the key vendors in the blockchain technology market in transportation and logistics industry market market.
                  North America will register the highest growth rate of 55% among the other regions. Therefore, the blockchain technology market in transportation and logistics industry market market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
                  The key factors driving the blockchain technology market in transportation and logistics industry market market growth are:
                  • Growing use of blockchain technology for trucking
                  The blockchain technology market in transportation and logistics industry market market vendors should focus on grabbing business opportunities from the sea segment as it accounted for the largest market share in the base year.
                  • What are the key global market and the regional market share?
                  • What are the revenue-generating key market segments?
                  • What are the key factors driving and challenging this market’s growth?
                  • Who are the key market vendors and their growth strategies?
                  • What are the latest trends influencing the growth of this market?
                  • What are the variables influencing the market growth in the primary regions?
                  • What are the factors influencing the growth of the parent market?
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                  • Covid-19 impact and recovery analysis
                  • Data on revenue-generating market segments
                  • Details on the market shares of various regions
                  • Five-force market analysis

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