The growing acceptance of blockchain technology by modern
enterprises to develop their business operations has become a primary reason
for the growth prospects that are blooming for blockchain in the automotive market.
Furthermore, IndustryARC’s analyst states that, “the global blockchain in
automotive market had a market size of $132.29 million in 2018. Various aspects
such as vehicle safety and data security, supply chain transparency,
manufacturing, leasing, smart contracts, infotainment, telematics, IoT,
finance, payments & insurance, and fleet management projects have led to
blockchain penetration in the automotive industry and the demand will grow
with a profitable CAGR of 32.56% over the forecast period 2019-2025.
The report is titled: “Blockchain in Automotive Market: By
Type (Public Blockchain, Private Blockchain, Others), By Application (Vehicle
Safety and Data Security, Supply Chain Transparency, Manufacturing, Others) –
Forecast (2019-2025).” It incorporates an in-depth assessment of the competitive
landscape, market trends, product developments, financial analysis, and
strategic analysis.
Blockchain in Automotive Market:
Leading Segments
Shared mobility is recognized as the fastest growing
application according to the analyst of the report, and it is estimated to grow
at a progressive CAGR of 35.62% during the aforementioned forecast period.
Currently, more mobility providers are putting forward their footsteps towards
the mobility-as-a-service (MaaS) as it incorporates the car journeys and public
transport journeys across cities for a period of time with payment services. This
is going to flourish the growth of the application of blockchain in automotive
market in the near future.
North America was identified as the dominating region with 39.64%
regional share among other regions in the global blockchain in automotive
market. OEMs are preferring blockchain technology to use for connected cars,
autonomous vehicles, and cybersecurity because of its real-time monitoring,
scalability, and auditability. Emerging blockchain applications in supply chain
logistics, leasing, mobility, and retailing are also augmenting the application
of blockchain in automotive market in North America.
Blockchain in Automotive Market:
Disruptive Trends
·
Blockchain provides viable solutions to secure
data transactions, location tracking, and component provenance and also creates
digital identities for vehicles.
·
Blockchain technology offers unparalleled
security for connected cars and self-driving autonomous cars at a greater range
in the automotive industry. In addition to this, it also enables direct
payments through car e-wallets.
·
Blockchain execution speed copes up with the
requirement of connected cars such as speed and redundancy.
·
Transparency provided by blockchain is more
advantageous through which every authorized party can access the absolute
information. This is leading to a better customer experience and the
application of blockchain in automotive market will see an increment owing to
the need for emphasis on user experience as realized by many organizations
across the globe.
·
Blockchain significantly reduces the investments
made over other technologies, as there is no need of luxurious data storage.
The data is available at several nodes, and thus, there is no scope for loss of
data. Ability to audit records and versatility are the additional advantages of
blockchain.
·
Primarily, blockchain technology resolves the
issues involved in the finance and supply chain sectors of the auto industry.
It also streamlines the manual data entry, transaction costs, review processes
of finance and helps in maintaining the accurate data all through the vehicles
lifetime. Blockchain-based supply chain solutions tracks the delivered,
stolen, replaced, and damaged assets and sort out the things to get placed at a
right place.
·
According to IBM Institute of business value
report, 95% of the car making companies are running to invest noteworthy
sum into the technology within a time span of two years.
Blockchain in Automotive Market:
Competitive Landscape
IBM, Accenture, Microsoft, Carvertical, Helbiz, Tech
Mahindra, HCL Technologies, Xain, NXM Labs, Carblock, Cube, Context Labs,
Shiftmobility, Bigchaindb, Dashride, Consensys, Foam, RSK Labs, and GEM are the
key strategic players which are striving to stay ahead of the curve in the
blockchain in automotive market.
Talk to one of our sales representative about the full
report by providing your details in the link below:
https://www.industryarc.com/support.php?id=18525
Related Reports:
A. Blockchain Market
https://www.industryarc.com/Report/17949/blockchain-market.html
B. Blockchain in Infrastructure Market
https://www.industryarc.com/Report/18532/blockchain-in-infrastructure-market-research-report.html
C. Blockchain in Healthcare Market
https://www.industryarc.com/Report/18224/blockchain-in-healthcare-market.html
What can you expect from the report?
The blockchain in
automotive market is prepared with the main agenda to cover the
following 20 points:
1. Market Size by Product Categories
&
Application
11. Demand Analysis (Revenue & Volume)
2. Market trends & Relevant
Market
Data
12. Country level
Analysis
3. Manufacturer
Landscape
13. Competitor
Analysis
4. Distributor Landscape
14. Market
Shares Analysis
5. Pricing Analysis
15. Value
Chain Analysis
6. Top 10 End user Analysis
16. Supply
Chain Analysis
7. Product Benchmarking
17. Strategic
Analysis
8. Product Developments
18. Current
& Future Market Landscape Analysis
9. Mergers & Acquisition
Analysis
19.
Opportunity Analysis
10. Patent Analysis
20.
Revenue and Volume Analysis
Frequently Asked Questions:
Q. Does IndustryARC provide
customized reports and charge additionally for limited customization?
Response: Yes, we can customize
the report by extracting data from our database of reports and annual
subscription databases. We can provide the following free customization:
1. Increase the level of data in
application or end user industry.
2. Increase the number of countries
in geography chapter.
3. Find out market shares for other
smaller companies or companies which are of interest to you.
4. Company profiles can be requested
based on your interest.
5. Patent analysis, pricing, product
analysis, product benchmarking, value and supply chain analysis can be
requested for a country or end use segment.
Any other custom requirements can be discussed with our
team, drop an e-mail to [email protected]
to discuss more about our consulting services.
To request for a proposal, provide your details in the below
link:
https://www.industryarc.com/support.php?id=18525
Media Contact:
Mr. Venkat Reddy
Sales
Manager
Email 1: [email protected]
Or Email 2: [email protected]
Contact Sales: +1-614-588-8538 (Ext-101)
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.