e-BL (Electronic Bill of Lading) Blockchain Global Market Report 2025

The e-BL (electronic bill of lading) blockchain market size has grown exponentially in recent years. It will grow from $0.34 billion in 2024 to $0.43 billion in 2025 at a compound annual growth rate (CAGR) of 27.1%. The growth in the historic period results from the increasing adoption of digital transformation, the rising need for supply chain transparency, the growing focus on supply chain visibility, the higher demand for standardized processes, and the expansion of international trade requiring e-BL.

The e-BL (electronic bill of lading) blockchain market size is expected to see exponential growth in the next few years. It will grow to $1.1 billion in 2029 at a compound annual growth rate (CAGR) of 26.7%. The growth in the forecast period is driven by an increasing focus on sustainability, rising regulatory support for blockchain-based solutions, growing demand for end-to-end digitalization, increased investments in port modernization, and heightened demand for secure trade documents. Key trends during the forecast period include advancements in blockchain technology, integration of advanced digital infrastructure, technology-driven collaboration between shipping and finance, development of secure and scalable blockchain networks, and improvements in cloud security and supply chain tracking.

The rising adoption of cloud-based solutions is expected to drive the growth of the e-BL (electronic bill of lading) blockchain market in the coming years. Cloud-based solutions refer to software or services hosted on remote servers and accessed through the internet, offering scalable, flexible, and cost-effective alternatives to traditional on-premises systems. Their increasing adoption allows businesses to efficiently scale computing resources up or down according to demand, handling fluctuations without the need for expensive on-site infrastructure. Cloud-based solutions support e-BL blockchain by securely storing and sharing digital bills of lading in real time, enhancing transparency, minimizing errors, and accelerating global trade processes. For example, according to Eurostat, a Luxembourg-based statistical office of the European Union, 45.2% of EU enterprises purchased cloud computing services in 2023, representing a 4.2 percentage point increase compared to 2021. Thus, the growing adoption of cloud-based solutions is propelling the growth of the e-BL blockchain market.

Leading companies in the e-BL blockchain market are increasingly investing in advanced digital solutions such as blockchain-based electronic bill of lading systems to boost trade efficiency and transparency. These blockchain-based e-BL systems offer a secure, tamper-proof method to create, store, and transfer bills of lading, ensuring authenticity, real-time access, and streamlined cross-border transactions while overcoming the limitations of paper documentation. For instance, in December 2022, POSCO International Corporation, a South Korea-based trading and investment company, launched a blockchain-based electronic bill of lading (e-B/L) system, marking a significant step toward digitalizing international trade. This system replaces traditional paper bills of lading with a secure blockchain platform that enables real-time shipment tracking, reduces risks of document loss or delays, improves operational efficiency, and lowers logistics costs.

In October 2022, edoxOnline, a US-based software company, formed a strategic partnership with CargoX to address fragmentation in the electronic bill of lading (eBL) ecosystem. This collaboration aims to enable secure, fast, and seamless interoperability between different eBL platforms, thereby simplifying global trade through efficient digital transfer of title documents and promoting the industry's adoption of paperless, standardized, and interconnected trade processes. CargoX, based in Slovenia, provides a blockchain-based platform for transferring electronic trade documents and business data, offering electronic bill of lading solutions using blockchain technology.

Major players in the e-BL (electronic bill of lading) blockchain market are Maersk A/S, CMA CGM S.A., Tata Steel Limited, COSCO SHIPPING Lines Co. Ltd., Hapag-Lloyd AG, Ocean Network Express Holdings Ltd., Evergreen Marine Corporation Ltd., HMM Company Limited, Secro Inc., ZIM Integrated Shipping Services Ltd., Yang Ming Marine Transport Corporation, Orient Overseas Container Line Limited, e2open LLC, CargoX Ltd., MSC Mediterranean Shipping Company S.A., KTNET (Korea Trade Network), WaveBL Ltd., IQAX Limited, Yodaplus DocuTrade, and TradeFlow Capital Management Ltd.

North America was the largest region in the e-BL (electronic bill of lading) blockchain market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in e-BL (electronic bill of lading) blockchain report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The rapid escalation of U.S. tariffs and the resulting trade tensions in spring 2025 are significantly impacting the information technology sector, particularly in hardware manufacturing, data infrastructure, and software deployment. Higher duties on imported semiconductors, circuit boards, and networking equipment have raised production and operational costs for tech firms, cloud service providers, and data centers. Companies relying on globally sourced components for laptops, servers, and consumer electronics are facing longer lead times and increased pricing pressures. In parallel, tariffs on specialized software tools and retaliatory measures from key international markets have disrupted global IT supply chains and reduced overseas demand for U.S.-developed technologies. To navigate these challenges, the sector is accelerating investments in domestic chip fabrication, diversifying supplier bases, and adopting AI-driven automation to enhance operational resilience and cost efficiency.

The e-BL (electronic bill of lading) blockchain market research report is one of a series of new reports that provides e-BL (electronic bill of lading) blockchain market statistics, including e-BL (electronic bill of lading) blockchain industry global market size, regional shares, competitors with an e-BL (electronic bill of lading) blockchain market share, detailed e-BL (electronic bill of lading) blockchain market segments, market trends and opportunities, and any further data you may need to thrive in the e-BL (electronic bill of lading) blockchain industry. This e-BL (electronic bill of lading) blockchain market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

e-BL (electronic bill of lading) blockchain refers to the use of blockchain technology to fully digitize bills of lading, creating a secure, immutable, and decentralized record of the document that captures every transaction and transfer linked to it. This method maintains the legal and commercial validity of traditional bills of lading while offering a detailed, time-stamped, and verifiable digital record that guarantees the integrity, traceability, and reliability of the document throughout its lifecycle.

The primary components of e-BL blockchain are software, hardware, and services. The software includes applications and platforms that generate, manage, and verify electronic bills of lading, facilitating the digitalization of shipping documents and ensuring secure, paperless, and efficient processes. These solutions can be deployed either on-premises or through the cloud, serving organizations of various sizes, from small and medium enterprises to large enterprises. They find use in industries such as shipping and logistics, trade finance, oil and gas, manufacturing, among others, catering to end users including shipping companies, freight forwarders, exporters and importers, banks and financial institutions, and others.

The countries covered in the e-BL (electronic bill of lading) blockchain market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The e-BL (electronic bill of lading) blockchain market consists of revenues earned by entities by providing services such as digital bill of lading issuance, document verification and authentication, smart contract execution, end-to-end supply chain integration, secure document transfer, and trade finance facilitation. The market value includes the value of related goods sold by the service provider or included within the service offering. The e-BL (electronic bill of lading) blockchain market also includes sales of digital bill of lading platforms, document management systems, smart contract solutions, and shipment tracking and verification tools. Values in this market are ‘factory gate’ values; that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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