The global automotive blockchain market, which was assessed at USD 92.94 Million in 2018, is now expected to register a striking CAGR of 34.95% over the foreseeable period. Automotive blockchain keeps track of data pertaining to the automobile industry and stores it for further significant processes. It finds application in various areas, including car sales, warranty claim processing, and aftermarket services, using advanced technologies like AI and IoT.
Market Drivers
The global automotive blockchain market is foreseen to expand at a rapid pace over the upcoming years, supported by crucial growth-influencing factors like the booming automotive industry, increasing demand for public and private vehicles, growing focus on reducing data manipulation, and the surging need for faster business transactions. The rising adoption of BaaS (Blockchain-as-a-service) and cryptocurrency in the automotive sector has further fueled the demand for automotive blockchain, thus stimulating the global market growth. Over recent years, automotive manufacturers have invested profoundly in the production of autonomous and connected vehicles, which is a key driver for this market. Besides, blockchain enhances the automotive supply chain management and plays a vital role in claiming car insurances. Hence, such factors lead the global market growth to an upward trajectory.
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Regional Outlook
Among the key regional markets, the Asia Pacific region dominates the global automotive blockchain market in terms of market share. Being home to some of the globally leading automotive manufacturers, China and India are the key growth contributors to the regional market. The booming production of automobiles and extensive import & export of automotive components are the key factors driving market growth in the region.
Key participants include IBM (U.S.), Accenture (Ireland), Microsoft (U.S.), CarVertical (Estonia), Helbiz (U.S.), Tech Mahindra (India), HCL Technologies (India), Xain (Germany), NXM Lab (U.S.), Carblock (U.S.), Cube (South Korea), Context Labs (Netherlands), Shiftmobility (India), Bigchaindb (Germany), Dashride (U.S.), and Consensys (U.S.).
For the purpose of this study, Reports and Data have segmented the Automotive Blockchain Market on the basis of Application, By Provider, By Mobility type, and Region:
Application (Revenue, USD Million; 2016–2026)
• Smart Contracts
• Supply Chain
• Financing
• Mobility Solutions
• Others
Provider (Revenue, USD Million; 2016–2026)
• Middleware Provider
• Infrastructure and Protocol Provider
• Application and Solutions Provider
Mobility type (Revenue, USD Million; 2016–2026)
• Personal Mobility
• Shared Mobility
• Commercial Mobility
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Regional Outlook (Revenue in USD Million, 2017-2027)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Table Of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Introduction
2.2. Summary Snapshot, 2016 – 2026
2.3. Assumptions
2.4. Limitations
Chapter 3. Indicative Metrics
Chapter 4. Global Automotive Blockchain Market Segmentation & Impact Analysis
4.1. Global Automotive Blockchain Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market Indicators Analysis
4.2.2. Market Drivers Analysis
4.2.2.1. Rising focus on the reduction of data manipulation and leak
Continued…
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