Blockchain in Logistics

Blockchain in Logistics

Global Blockchain in Logistics Market to Reach US$235.9 Billion by 2030

The global market for Blockchain in Logistics estimated at US$28.4 Billion in the year 2024, is expected to reach US$235.9 Billion by 2030, growing at a CAGR of 42.3% over the analysis period 2024-2030. Public Blockchain Deployment, one of the segments analyzed in the report, is expected to record a 41.9% CAGR and reach US$105.1 Billion by the end of the analysis period. Growth in the Private Blockchain Deployment segment is estimated at 44.6% CAGR over the analysis period.

The U.S. Market is Estimated at US$7.5 Billion While China is Forecast to Grow at 40.0% CAGR

The Blockchain in Logistics market in the U.S. is estimated at US$7.5 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$34.7 Billion by the year 2030 trailing a CAGR of 40.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 38.3% and 36.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 28.9% CAGR.

Global Blockchain in Logistics Market - Key Trends & Drivers Summarized

Why Is Blockchain Revolutionizing Logistics?

Blockchain technology is transforming the logistics industry by addressing long-standing challenges such as inefficiencies, lack of transparency, and susceptibility to fraud. By offering a decentralized and immutable ledger, blockchain ensures real-time tracking of goods, streamlined documentation, and enhanced data security. These capabilities are particularly vital in complex supply chains where multiple stakeholders, including suppliers, carriers, and regulatory bodies, need synchronized and tamper-proof records.

Industries such as retail, automotive, and pharmaceuticals are leveraging blockchain to optimize supply chain visibility and improve operational efficiency. For example, food supply chains are utilizing blockchain to enhance traceability, ensuring compliance with safety regulations and mitigating the risk of recalls. This technology’s ability to foster trust among participants while reducing costs and delays is revolutionizing logistics processes globally.

How Are Technological Advancements Expanding Blockchain Applications in Logistics?

Advancements in blockchain technology are expanding its applications in logistics, enabling greater scalability, efficiency, and integration. Smart contracts, a notable innovation, automate contractual agreements between parties, reducing the need for intermediaries and ensuring seamless execution of transactions once pre-defined conditions are met. These self-executing contracts are particularly beneficial for freight management and customs clearance, expediting processes that were traditionally time-consuming.

Moreover, the integration of blockchain with Internet of Things (IoT) devices is enhancing data accuracy and reliability. IoT sensors embedded in shipping containers provide real-time updates on location, temperature, and humidity, which are securely recorded on the blockchain. This integration is critical for industries like pharmaceuticals and perishables, where environmental conditions must be meticulously monitored to maintain product integrity.

Why Are Companies Embracing Blockchain for Supply Chain Transparency?

Supply chain transparency has become a top priority for businesses as consumers and regulators demand accountability and ethical sourcing. Blockchain’s ability to provide an immutable record of a product’s journey from origin to end-user ensures trust and compliance across the supply chain. Companies can now verify the authenticity of goods, prevent counterfeiting, and ensure that suppliers adhere to environmental and labor standards.

For example, luxury brands are adopting blockchain to authenticate high-value goods, while retailers are leveraging the technology to certify sustainable and fair trade practices. This transparency not only enhances brand reputation but also helps businesses mitigate risks associated with supply chain disruptions and fraud. As a result, blockchain is becoming a cornerstone of responsible and efficient supply chain management.

What Factors Are Driving the Growth of the Blockchain in Logistics Market?

The growth in the blockchain in logistics market is driven by several factors, including the increasing complexity of global supply chains, rising demand for transparency and traceability, and advancements in supporting technologies. The adoption of blockchain is particularly strong in industries with stringent regulatory requirements, such as pharmaceuticals and food, where compliance and traceability are critical.

Consumer behavior, marked by a preference for ethical sourcing and sustainable products, is influencing companies to integrate blockchain into their logistics operations. Technological innovations, such as smart contracts and IoT-enabled tracking, are further enhancing the utility and appeal of blockchain in logistics. Additionally, government initiatives promoting digital transformation and the standardization of blockchain protocols are accelerating adoption. These factors collectively underscore the transformative potential and rapid growth of the blockchain in logistics market, positioning it as a key enabler of the future supply chain ecosystem.

SCOPE OF STUDY:

The report analyzes the Blockchain in Logistics market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Deployment (Public Blockchain Deployment, Private Blockchain Deployment, Hybrid Blockchain Deployment); Application (Tracking & Tracing Application, Smart Contracts Application, Payment & Settlement Application, Inventory Management Application, Fleet Management Application, Freight Brokerage Application); End-Use (Retail & Manufacturing End-Use, Healthcare End-Use, Food & Beverage End-Use, Automotive End-Use, Oil & Gas End-Use, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.

Select Competitors (Total 43 Featured) -

• Appinventiv
• Blockchain Tech LTD
• Bonafi
• CargoCoin
• Deutsche Post AG
• GrainChain
• IBM Corporation
• Microsoft Corporation
• Oracle Corporation
• OriginTrail

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