Blockchain in the Global Commercial Vehicle Industry, Forecast to 2025

Blockchain to Have a Transformational Impact, Accounting for 10–15% of Total Industry Transactions

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The increasing use of blockchain technology will go hand in hand with growing advances in the commercial vehicle industry, especially through digitisation and automation. Key trends such as digital transformation, rise in automation, modern logistics systems, and proliferation of financial technology (fintech) influencing trucking are expected to drive the adoption of blockchain technology in the commercial vehicle (CV) industry.
Some of the key advantages of using blockchain in the commercial vehicle industry are added transparency on ownership, price, and processes. It would also accelerate payment, enhance security, and eliminate fraud along with eliminating middlemen, reducing paperwork, and streamlining the supply chain.

Blockchain’s impact on the CV industry is expected to gradually increase in the coming years, especially after 2020. It is, however, largely dependent on the level of automation and proliferation of technology in the industry mandating support for these advances. Blockchain will radically simplify and accelerate the business operations of all key stakeholders involved in the trucking industry. It will also enable all key stakeholders involved across the logistics supply chain to interact on a common platform.

Blockchain has been implemented in certain pilot projects in the food supply chain industry, logistics industry led by Maersk and IBM on the Hyperledger platform, and for Toll Collection Systems (TCS) through a truck wallet system created by Blockchainfirst. Blockchain has the potential to completely transform fleet operations through efficient performance by offering sustainable benefits and added security. Truck fleets are expected to benefit considerably through blockchain solutions that allow for efficiency, security, and time and cost reductions across various areas such as leasing, insurance, service and maintenance, refuelling, parking, freight brokering, and cargo safety. The vehicle purchasing process for fleets using blockchain brings all the relevant stakeholders on a common platform, enabling them to share and view information in real time. Investing in blockchain is expected to smoothen fleet operations by improving overall operational efficiency and reducing costs.

The penetration of blockchain platforms in the industry is currently limited only to selected solution providers such as Hyperledger, BigchainDB, and Blockchainfirst engaged in vehicle tracking, recharging, and automated toll collection for trucks. By 2025, 10–15% of the entire CV industry transactions are expected to be on blockchain; which will push OEMs and suppliers to invest actively in the blockchain infrastructure in partnership with tech consortiums, financial institutions, and regulatory establishments. Suppliers will see great benefits being on the same blockchain platform as OEMs and final customers. This is expected to reduce the cost and time for spare parts and warranty issues as well as hasten recalls.

This research report includes following segments:

  • Heavy Duty Truck 
  • Medium Duty Truck
  • Light Duty Truck

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Key questions answered:

  • What is blockchain and how is it applicable to the commercial vehicle industry?
  • Impact of blockchain on the commercial vehicle industry and areas where it can replace traditional transactions?

  • What are the various use cases that blockchain technology can support the commercial vehicle industry in?

  • Who are all the key participants involved and what is the future outlook for blockchain technology in the commercial vehicle industry?

Table of Contents

1. Executive Summary
Implementing Blockchain in the CV Industry—Benefits and Challenges
Key Takeaways
Automotive Ecosystem on Blockchain
Blockchain for Fleets
Key Trends Driving Blockchain Technology in Trucking
Commercial Vehicle Industry—Blockchain Impact During 2017–2025
2. Research Scope, Objectives, Background, and Methodology
Research Scope
Research Aim and Objectives
Research Methodology
3. Blockchain—Definitions and Segmentation
Definition and Properties
Overview of Transaction Flow
Common Terminologies
Types of Digital Currencies
4. Blockchain in Trucking
Business Model Impact of Blockchain on Commercial Vehicle Industry
Aspects in Trucking Impacted by Blockchain
Key Industry Stakeholders Impacted by Blockchain
5. Blockchain—Use Cases
Blockchain—Urban eCommerce
Blockchain—Food Supply Chain
Case Study—IBM-Maersk on Blockchain
Case Study—Blockchainfirst’s Toll Collection System
6. Blockchain for Truck Fleets
Blockchain for Fleets
Purchasing Process on Blockchain
Service and Maintenance for Truck Fleets on Blockchain
Fleet Operations on Blockchain
Automated Refuelling and Parking on Blockchain
Freight Brokerage on Blockchain
Security and Insurance on Blockchain
7. Profiling of Select Blockchain Platform Providers
Blockchain Platform of Key Technology Companies
8. Growth Opportunities and Companies to Action
Blockchain Startups Contributing to Automotive Industry Modification
Growth Opportunities—Disruptive Applications and Future Success
Strategic Imperatives for Success and Growth
Road Map of Trucking Services on Blockchain
9. Key Conclusions and Future Outlook
Key Conclusions and Future Outlook
The Last Word—3 Big Predictions
10. Appendix
Table of Acronyms Used
Legal Disclaimer
11. The Frost & Sullivan Story

List of Figures & Charts

1. Blockchain in the CV Industry: Current and Future Scenario, Global, 2017–2025
2. Blockchain in CV Industry: List of Key Participants, Global, 2016

1. Blockchain in the CV Industry: Benefits and Challenges, Global, 2016–2025
2. Blockchain in the CV Industry: Key Takeaways, Global, 2016–2025
3. Blockchain in the CV Industry: Automotive Ecosystem on Blockchain, Global, 2016–2025
4. Blockchain in the CV Industry: Blockchain Use for Fleets, Global, 2016
5. Blockchain in the CV Industry: Key Driving Trends in Trucking, Global, 2016
6. Blockchain Definition and Properties, Global, 2016
7. Blockchain Transaction Flow Overview, Global, 2016–2025
8. Blockchain Common Terminologies, Global, 2016–2025
9. Blockchain in Digital Currencies, Global, 2017
10. Blockchain in CV Industry: Business Model Impact on CV Industry, Global, 2016–2025
11. Blockchain in CV Industry: Aspects in Trucking on Blockchain, Global, 2017–2025
12. Blockchain in CV Industry: Key Industry Stakeholders, Global, 2016
13. Blockchain in Urban eCommerce, Global, 2016
14. Blockchain in Food Supply Chain, Global, 2016
15. Case Study—IBM-Maersk, Global, 2016
16. Case Study—Blockchainfirst Toll Collection System, Global, 2016
17. Blockchain in CV Industry: Blockchain Use for Fleets, Global, 2016
18. Blockchain in CV Industry: Purchasing Process, Global, 2016
19. Blockchain in CV Industry: Service and Maintenance, Global, 2016
20. Blockchain in CV Industry: Fleet Operations, Global, 2016
21. Blockchain in CV Industry: Automated Refuelling and Parking, Global, 2016
22. Blockchain in CV Industry: Freight Brokerage, Global, 2016
23. Blockchain in CV Industry: Security and Insurance, Global, 2016
24. BigchainDB, Global, 2016
25. Blockchainfirst, Global, 2016
26. Hyperledger, Global, 2016
27. Technology Companies Blockchain Platform, Global, 2016–2025
28. Blockchain in CV Industry: Strategic Imperatives, Global, 2016
29. Blockchain in CV Industry: Road Map of Trucking Services, Global, 2016–2025
30. Blockchain in CV Industry: Key Conclusions and Future Outlook, Global, 2016–2025




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