IMARC Group’s latest research report, titled “Automotive Blockchain Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the Automotive Blockchain Market Demand . The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global automotive blockchain market size reached a value of US$ 420.1 Million in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 2,236.3 Million by 2027, exhibiting a CAGR of 30.60% during 2022-2027. Automotive blockchain is a solution that executes monetary transactions and agreements, and records to enable automobile owners to monetize trips. This automotive solution would interconnect the end-users, car-sharing providers, and smart and autonomous vehicles reliably and securely. It is used to store and monitor the data for the processes of automobiles. This automobile process includes IoT, smart contracts, warranty claiming to process, and others. The data related to the automotive stored in a blockchain is authentic and cannot be hampered by the system’s users, thus providing its customers with safer and more secure data.
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Automotive Blockchain Market Demand:
The global market is majorly driven by the growing demand for higher security of data. In line with this, the increasing focus on reducing manipulation of data, better quality control, and the need for faster business transactions are positively influencing the market. Furthermore, the rising popularity of automotive blockchain due to its widespread adoption in automobiles and reduction in the overall costs of ownership is catalyzing the market. Moreover, heavy investments and numerous favorable government initiatives in the automotive blockchain industry are strengthening the market. Besides this, the requisite for stability and enhanced transparency in complex automotive operations are propelling the market. Additionally, the emergence of innovative programmable blockchain technology platforms, such as Initial coin offering (ICO), crypto-currency, and Blockchain-as-a-Service (BaaS), are expected to provide a boost to the market.
Key Players Included in Global Automotive Blockchain Market Research Report:
- Accenture plc
- BigchainDB GmbH
- carVertical
- ConsenSys
- GemOS
- HCL Technologies Limited (HCL Enterprise)
- International Business Machines Corporation
- Microsoft Corporation
- NXM Labs Inc.
- ShiftMobility Inc. and Tech Mahindra Limited.
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Key Market Segmentation:
Breakup by Type:
- Public Blockchain
- Private Blockchain
- Hybrid Blockchain
Breakup by Provider:
- Application and Solution
- Middleware
- Infrastructure and Protocol
Breakup by Mobility Type:
- Personal Mobility
- Shared Mobility
- Commercial Mobility
Breakup by Application:
- Financing
- Mobility Solutions
- Smart Contract
- Supply Chain
Breakup by End User:
- OEMs
- Vehicle Owners
- Mobility as a Service Provider
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
TOC for the Automotive Blockchain Market Research Report:
- Preface
- Scope and Methodology
- Executive Summary
- Introduction
- Global Automotive Blockchain Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
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