Blockchain in the Global Commercial Vehicle Industry, Forecast to 2025

Blockchain in the Global Commercial Vehicle Industry, Forecast to 2025

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

RELEASE DATE
13-Sep-2017
REGION
North America
Research Code: MD32-01-00-00-00
SKU: AU01536-NA-MR_20710
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Description

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.

Table of Contents

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

Research Scope

Research Aim and Objectives

Research Methodology

Definitions

Definition and Properties

Overview of Transaction Flow

Common Terminologies

Types of Digital Currencies

Business Model Impact of Blockchain on Commercial Vehicle Industry

Aspects in Trucking Impacted by Blockchain

Key Industry Stakeholders Impacted by Blockchain

Blockchain—Urban eCommerce

Blockchain—Food Supply Chain

Case Study—IBM-Maersk on Blockchain

Case Study—Blockchainfirst’s Toll Collection System

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

BigchainDB

Blockchainfirst

Hyperledger

Blockchain Platform of Key Technology Companies

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

Key Conclusions and Future Outlook

The Last Word—3 Big Predictions

Table of Acronyms Used

Legal Disclaimer

List of Figures
  • 1. Blockchain in the CV Industry: Current and Future Scenario, Global, 2017–2025
  • 2. Blockchain in CV Industry: List of Key Participants, Global, 2016
List of Charts
  • 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
Related Research
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 blockch
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Table of Contents | 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~ | Research Scope, Objectives, Background, and Methodology~ || Research Scope~ || Research Aim and Objectives~ || Research Methodology~ | Blockchain—Definitions and Segmentation~ || Definitions~ || Definition and Properties~ || Overview of Transaction Flow~ || Common Terminologies~ || Types of Digital Currencies~ | Blockchain in Trucking~ || Business Model Impact of Blockchain on Commercial Vehicle Industry~ || Aspects in Trucking Impacted by Blockchain~ || Key Industry Stakeholders Impacted by Blockchain~ | Blockchain—Use Cases~ || Blockchain—Urban eCommerce~ || Blockchain—Food Supply Chain~ || Case Study—IBM-Maersk on Blockchain~ || Case Study—Blockchainfirst’s Toll Collection System~ | 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~ | Profiling of Select Blockchain Platform Providers~ || BigchainDB~ || Blockchainfirst~ || Hyperledger~ || Blockchain Platform of Key Technology Companies~ | 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~ | Key Conclusions and Future Outlook~ || Key Conclusions and Future Outlook~ || The Last Word—3 Big Predictions~ | Appendix~ || Table of Acronyms Used~ || Legal Disclaimer~ | The Frost & Sullivan Story~
List of Charts and Figures 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 ~
Author Marshall Martin
Industries Automotive
WIP Number MD32-01-00-00-00
Is Prebook No