What is Automotive Blockchain Market Scope?
The automotive blockchain is widely used for monetization avenues, facilitating digital transformation, and others. It provides a viable solution to innovations namely vehicle-to-vehicle communication, secure data transactions, component provenance, location tracking, and others. Numerous applications of the blockchain in automotive namely supply chain transparency, automotive financing, fleet management, vehicle safety, and others. Increasing expenditure on the development of advanced technologies, increasing focus on reducing data manipulations or data leaks, faster transactions, and decreased total cost of ownership is expected to drive the growth of the automotive blockchain market over the years to come. It is expected to expand at a CAGR of 32.29% from 2018 to 2028
Influencing Trend:
Technology Advancement of the Automotive Blockchain
Market Growth Drivers:
Increasing Focus on Reducing Data Leaks and Manipulations and Reduced Total Cost of Ownership and Faster Transactions
Challenges:
Concerns over security, privacy, and control and Gaining User Acceptance and Lack of Technical Expertise and Limited scalability
Restraints:
Uncertainty over Regulations in Blockchain Automotive
Opportunities:
Increasing Crypto Currency Market Capital and Higher Adoption of Automotive Blockchain for Payments, Logistics, Transportation, as well as Usage-Based Insurance
The Automotive Blockchain market study is being classified, by Application and major geographies with country level break-up.
The market is fragmented with numerous players focusing on technique and quality of the product owing to which the global automotive blockchain market can witness an upsurge in the forecast period Analysts at AMA predicts that Vendors from United States will contribute to the maximum growth of Global Automotive Blockchain market throughout the predicted period.
IBM (United States), Microsoft (United States), Accenture (Ireland), carVertical (Estonia), Helbiz (United States), Tech Mahindra (India), SHIFTMobility (United States) and BigchainDB (Germany) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Automotive Blockchain market by Type, Application and Region.
On the basis of geography, the market of Automotive Blockchain has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Market Influencers and their Development Strategies
On July 2018, the IBM (United States) Company has partnered with Mahindra Group (India) Company for the development of a blockchain solution aimed at the supply chain. This partnership will help in strengthening the position of the company worldwide. and On September 2017, the ZF Friedrichshafen AG (Germany) and IBM (United States) have announced Car eWallet a payment technology targeting future mobility services. This would help in increasing the customer base as well as the expansion of the company
On May 2018, the ShiftMobility (United States) Company had revealed the blockchain-powered platform for the automotive industry. It will help to enhance the growth of the revenue of the company in the future., On May 2017, smart contracts enabled Innogy SE (Germany) Company to launch hundreds of blockchain-powered charging stations for electric cars across Germany. This will, in turn, propel the growth of automotive blockchain market in future., On July 2017, the Renault (France) Company has unveiled a new digitized car, which is a maintenance log prototype built using block chain. This new launch has helped the company to expand its product portfolio of the company. and In 2015, the Chinese conglomerate Wanxiang Group (China) Company, which has the largest auto parts manufacturers, has invested more than USD 50.0 million in blockchain technology. This investment has helped in the expansion of the company.
Key Target Audience
Automotive OEMs, Automotive Blockchain Manufacturers, Distributors and Suppliers, Industry associations and experts, Research organizations and consulting companies., Research Institutes, Industry Associations, Market Research and Consulting Firm, Technology providers, Cloud service providers and Crypto-currency companies
Automotive Blockchain Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Automotive Blockchain Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Automotive Blockchain industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.