Global Overview of Blockchain Technology in Construction and Mining Equipment, Forecast to 2023

Global Overview of Blockchain Technology in Construction and Mining Equipment, Forecast to 2023

Blockchain Will Emerge as a Transformational Technology for High Productivity

RELEASE DATE
22-May-2019
REGION
Global
Research Code: ME40-01-00-00-00
SKU: AU01836-SA-MR_23117

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Description

Increasing use of blockchain technology will go together with growing advances in the construction and mining industry, especially through digitisation and automation. Key trends such as digital transformation, the rise in automation, modern equipment systems, and proliferation of financial technology (fintech) are influencing equipment models and are expected to drive adoption of blockchain technology. Some key advantages of using blockchain in the commercial vehicle industry are added transparency on ownership, price, and processes. This would also accelerate payment, enhance security, and eliminate fraud along with eliminating middlemen, reducing paperwork, and streamlining the supply chain. This report gives a complete overview of the blockchain applications in the construction and mining industry.

Blockchain’s penetration in the construction and mining 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 construction and mining industry.

Blockchain has been implemented in some pilot projects in the construction and mining industry, leading Hyundai to develop a new supply-chain finance ecosystem incorporating dealers, distributors and manufacturers. The equipment 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. Suppliers will benefit from being on the same blockchain platform as original equipment manufacturers (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 also covers off-highway vehicles.

Key Issues Addressed

  • What are the various industries disrupted by blockchain technology?
  • How does the blockchain technology revolutionise the construction and mining equipment industry?
  • What are the key applications of blockchain in the construction and mining industry?
  • Who are all the key participants involved and what is the future outlook for blockchain technology in the construction and mining equipment industry?

Table of Contents

What is Blockchain Technology?

Cryptocurrencies

Blockchain—Influencing and Challenging Factors

Transactions on the Blockchain

Industries at a Glance

Key Market Participants at a Glance

Key Market Participants at a Glance (continued)

Definitions

Blockchain—Definition and Properties

Common Blockchain Terminologies

Types of Digital Currencies

Why is Blockchain Important for the Construction Industry?

Public and Private Blockchain Types

Research Scope

Research Aim and Objectives

Key Questions this Study will Answer

Research Methodology

Blockchain in Procurement and Supply Chain Management

Streamlined Procurement

Blockchain in Project Management

Blockchain Enabled Designing and Project Collaboration

Blockchain Technology for BIM

Blockchain-enabled Designing and Project Collaboration

Blockchain Technology for Equipment Rental

Blockchain and IoT for Equipment Financing

Digitization of Real-World Assets Using Blockchain

Bitcoin

Ethereum

Hyperledger (a Linux Foundation Collaborative Project)

RSK Labs

Consensus Systems (ConsenSys)

Project Provenance Ltd/Provenance

Productive Edge LLC

Reply

Technology Companies Blockchain Platform—Overview

Growth Opportunities—Disruptive Applications and Future Success

Strategic Imperatives for Success and Growth

Key Conclusions and Outlook

Legal Disclaimer

Table of Acronyms Used

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
Increasing use of blockchain technology will go together with growing advances in the construction and mining industry, especially through digitisation and automation. Key trends such as digital transformation, the rise in automation, modern equipment systems, and proliferation of financial technology (fintech) are influencing equipment models and are expected to drive adoption of blockchain technology. Some key advantages of using blockchain in the commercial vehicle industry are added transparency on ownership, price, and processes. This would also accelerate payment, enhance security, and eliminate fraud along with eliminating middlemen, reducing paperwork, and streamlining the supply chain. This report gives a complete overview of the blockchain applications in the construction and mining industry. Blockchain?s penetration in the construction and mining 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 construction and mining industry. Blockchain has been implemented in some pilot projects in the construction and mining industry, leading Hyundai to develop a new supply-chain finance ecosystem incorporating dealers, distributors and manufacturers. The equipment 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. Suppliers will benefit from being on the same blockchain platform as original equipment manufacturers (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 also covers off-highway vehicles.--BEGIN PROMO--

Key Issues Addressed

  • What are the various industries disrupted by blockchain technology?
  • How does the blockchain technology revolutionise the construction and mining equipment industry?
  • What are the key applications of blockchain in the construction and mining industry?
  • Who are all the key participants involved and what is the future outlook for blockchain technology in the construction and mining equipment industry?
More Information
No Index No
Podcast No
Author Saurabh Bhalerao
Industries Automotive
WIP Number ME40-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9694,9AF6-A6