Report Overview:
The global Blockchain in Logistics market is showing exponential growth, driven by the need for enhanced supply chain visibility, increasing global trade complexities, and the demand for secure and transparent transactions. Key players include IBM, Maersk, and SAP. In 2024, supply chain tracking and tracing applications accounted for 45% of the market, with smart contract implementations growing at 25.8% annually. The industry is seeing significant adoption of blockchain for provenance and authenticity verification, reducing counterfeit goods in supply chains by up to 30%.
There's rising demand for blockchain-based trade finance solutions, now used in 15% of international shipping transactions. Companies are developing interoperable blockchain platforms for seamless data exchange across supply chain partners, commanding a 35% price premium for these ecosystem solutions. The market is benefiting from the integration of IoT sensors with blockchain for real-time cargo monitoring.
Market Value:
The global Blockchain in Logistics market size was valued at US$ 812 million in 2024 and is projected to reach US$ 2.47 billion by 2030, at a CAGR of 20.3% during the forecast period 2024-2030.
CAGR of 20.3% (2024-2030)
