Blockchain Technology Market in Transportation and Logistics Industry to grow by USD 2.23 billion between 2022 – 2027 | Growth Driven by Growing Use of Blockchain Technology for Trucking

NEW YORK, Sept. 15, 2023 /PRNewswire/ — The Blockchain Technology Market in Transportation and Logistics Industry report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the blockchain technology market in the transportation and logistics industry between 2022 and 2027 is USD 2.23 billion. The growing use of blockchain technology for trucking is notably driving market growth. Furthermore, factors like 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. Moreover, the blockchain increases the efficiency of business operations in the trucking industry. This is enabled by reducing the need for checking business transactions and enhancing visibility by ensuring that capacity planning is operating smoothly. Hence, such factors drive the growth of the blockchain technology market in the transportation and logistics industry during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here

• Market Challenge – The high cost of implementing and maintaining blockchain technology challenges the growth of the market. Given the adoption of blockchain technology, the transportation and logistics industry is expected to have long-term benefits. The benefits include productivity, security, and efficiency during the forecast period, but the initial implementation of the technology is capital-intensive. It is capital-intensive because the software which is required in order to run the blockchain technology is typically developed for a specific firm. Hence, such challenges impede the growth of the blockchain technology market in the transportation and logistics industry during the forecast period. Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now

The blockchain technology market in the transportation and logistics industry is segmented by 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). 

• The land segment will be significant during the forecast period. This segment includes transportation and logistics through railways and roadways. Furthermore, in road transportation, trucking is the best way to carry goods. This is because it is a necessary step in the transportation of goods from the place of arrival to the destination, even if logistics companies implement another mode, such as sea, air, etc. Moreover, road transportation is a cost-efficient method for short and medium distances in comparison to other modes of transportation. Hence, such factors drive the land segment of the blockchain technology market in the transportation and logistics industry during the forecast period.
• North America is projected to hold a share of 37% in the global market growth. View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the Blockchain technology market in the transportation and logistics industry:

Accenture Plc, Amazon.com Inc., Amcon Soft, Arateg, 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, SAP SE, Slync Inc., Sweetbridge Ltd., Tencent Holdings Ltd., Wipro Ltd.

Related Reports:

The Web 3.0 blockchain market is estimated to grow at a CAGR of 47.85% between 2022 and 2027. The market size is forecast to increase by USD 27,422.25 million.

Blockchain technology in healthcare market is estimated to grow at a CAGR of 32.79% between 2022 and 2027. The market size is forecasted to increase by USD 1,939.31 million.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Mode of Transportation

Market Segmentation by End-user

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

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SOURCE Technavio