The Global Automotive Blockchain market was valued at USD 92.94 Million in 2018 and is projected to grow at a CAGR of 34.95% from 2019 to 2026
YORK CITY, NEW YORK, UNITED STATES, September 14, 2021 /EINPresswire.com/ — According to the current analysis of Reports and Data, the global Automotive Blockchain market was valued at USD 92.94 Million in 2018 and is projected to grow at a CAGR of 34.95% from 2019 to USD 1.79 Billion in 2026. Factors affecting the growth of the Automotive Blockchain market are the rising focus related to the reduction of the data manipulation as well as leaks, and the efficiency Automotive Blockchain provides with its low operational cost. These factors will propel the growth of the market over the forecasted period. However, the uncertainty of the regulation that are associated with the Blockchain can affect the market growth through 2026.
Blockchain is a decentralized, distributed ledger that can record the provenance of a digital asset. The implementation of this technology in the automotive industry is called as Automotive Blockchain. The blockchain technology has made a huge impact in the automotive industry due to the features like prompt transactions, and low data leaks amongst others.
The implementation of 5G network infrastructure will boost the further growth of the Automotive Blockchain market. As high tech features for in-vehicles are increasingly becoming available, connected through networks, blockchain in automotive industry is gaining more traction. Combining blockchain and 5G technology to automated vehicles can provide number of possibilities for tracking, monitoring, protection against cyber-security threats as well as the ability to share the information of the vehicle amongst others.
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For automotive OEMs, secure blockchain offers a vital platform for mobility scores that can determine the OEMs relative value as well as the reliability. Blockchain can be used to collect key driving habits to reward the users and lower down potential damage.
The introduction of the blockchain in the automotive industry is witnessing innovations from leading players which is expected to supplement the growth of the market.
Key reasons to buy this report:
The latest report comprehensively studies the global Automotive Blockchain market size and elaborates on the latest market trends & developments and new product offerings.
It offers an insightful analysis of the Automotive Blockchain market’s regional landscape.
It offers a detailed account of the end-use applications of the products & services offered by this industry.
The report identifies the most effective business strategies implemented by the market players for ideal business expansion.
Furthermore, the report explains the macro-economic and micro-economic factors influencing market growth and highlights the potential investment opportunities, new and existing pricing structures, and emerging product application areas in the global market.
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Further key findings from the report suggest
The Global Automotive Blockchain market is forecast to grow from USD 92.94 Million in 2018 at a rate of 34.95% CAGR to reach a valuation of USD 1.79 Billion in 2026.
Increasing focus related to the reduction of the manipulation of the data as well as data leaks is one of the major factor boosting the growth of the market.
However, the uncertainty of the government regulations related to blockchain is one of the major factors that will affect the growth of the market over the forecasted period.
Mobility Solutions segment is forecasted to witness fastest growth in the coming years on account of rapid growth of shared mobility industry, rise in the consumer demands, and the inclusion of blockchain in automotive business models.
Japan is introduced the blockchain technology for car insurance registration, thereby lowering the involvement of the third party and the middleman.
Applications and Solutions provider segment was the leading segment in 2018. The segment was valued at USD 76.8 million and is forecasted to grow to more than USD 600 million through 2026 on account of rising number of applications.
Asia Pacific region is forecasted to grow the fastest over the forecast period. Strong economic growth, rising population, rapid urbanization as well as an increasing purchasing power of the people in this region are some of the factors for the growth of the region. Other factors like increasing foreign investments in this region is boosting the growth of the market.
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.).
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Table of Content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.2. Summary Snapshot, 2016 – 2026
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
126.96.36.199. Rising focus on the reduction of data manipulation and leak
188.8.131.52. Increased pace of transportation
184.108.40.206. Lower Operational Costs
4.2.3. Market Restraints Analysis
220.127.116.11. Uncertainty over the regulations
4.2.4. Market Opportunities Analysis
18.104.22.168. Better adoption rates for payments, logistics, and usage based insurance
4.3. Regulatory Framework
4.4. Porter’s Five Forces Analysis
4.5. PESTEL Analysis of Automotive Blockchain market
4.6. Technological Insights…
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)
Provider (Revenue, USD Million; 2016–2026)
Infrastructure and Protocol Provider
Application and Solutions Provider
Mobility type (Revenue, USD Million; 2016–2026)
Regional Outlook (Revenue in USD Million; 2016–2026)
Rest of Europe
Rest of Asia-Pacific
Rest of the World
Middle East & Africa
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