NEW YORK – The blockchain technology market in the transportation and logistics industry segmented by Application (sea, land, and others) and Geography (North America, Europe, APAC, and South America) has been added to Technavio offerings. The blockchain technology market in the transportation and logistics industry’s share growth by the sea segment has been significant for revenue generation. 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.

Frequently Asked Questions:

  • What are the major trends in the market? 
    The key market trend for the blockchain technology market in the transportation and logistics industry market is the advent of blockchain-as-a-service(BaaS).

  • At what rate is the market projected to grow?
    The blockchain technology market in the transportation and logistics industry market share is expected to increase by USD 888.97 million mn from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 49.93%.

  • Who are the top players in the market?
    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. are some of the major market players.

  • What is the key market driver?
    The growing use of blockchain technology for tracking is notably driving the blockchain technology market in the transportation and logistics industry market growth.

  •  How big is the North American market?
    55% of the market’s growth will originate from North America during the forecast period. US and Canada are the key markets for the market in North America. Market growth in this region will be faster than the growth of the market in regions.

Blockchain Technology Market in Transportation and Logistics Industry Market 2021-2025: Segmentation

  • Application
    • Sea
    • Land
    • Others
  • Geography
    • North America
    • Europe
    • APAC
    • South America

Source: Technavio