Automotive Blockchain Market Worth USD 4160.99 Mn. by 2029: Industry trends, demand, stocks, analysis and forecast reports by facts and factors
“Blockchain Market for Cars”
The Automotive Blockchain Market size was valued at $472.5 million. in 2021, and the total Automotive Blockchain revenue is expected to grow by 31.25% from 2022 to 2029, reaching nearly USD 4160.99 Mn.
Automotive Blockchain Market Worth USD 4160.99 Mn. by 2029: Industry trends, demand, stocks, analysis and forecast reports by facts and factors
Pune, 5, Dec 2022: The Automotive Blockchain market is expected to reach USD 4160.99 million by 2029, growing at a CAGR of 31.25%, according to Maximize Market Research. The increasing number of government mandates to reduce emissions from vehicles as well as the demand for passenger comfort is boosting the Automotive Blockchain market going forward.
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Automotive Blockchain Market Scope and Research Methodology
The primary and secondary data sources are widely used in the research report. Government policy, market environment, competitive landscape, historical data, current market trends, technological innovation, upcoming technologies and the technical progress in related industries are all examined during the research process, as are market risks, opportunities, market barriers and challenges. To provide the final quantitative and qualitative data, every imaginable factor affecting the markets included in this research study was considered, thoroughly researched, validated through primary research and evaluated. Market size is normalized for top-tier markets and sub-segments, and the impact of inflation, economic downturns, regulatory and political changes and other variables are factored into the market forecast. This information is included in the report, along with detailed input and analysis.
To estimate market size and analyze global market trends, bottom-up approaches were used. To achieve accurate inferences, data was collected from a large sample using both primary and secondary research methods. Surveys, distribution of questionnaires and telephone interviews with industry experts, marketing managers, entrepreneurs and marketing professionals were the primary methods used. Secondary data was carefully collected from a carefully selected set of sources to ensure the accuracy of the conclusions. There are paid databases, industry journals, white papers, annual reports, product manufacturer and supplier publications, official databases for a variety of organizations, and public websites with additions to white papers and annual reports. PESTLE analysis was used to understand various market factors, while SWOT analysis was used to understand the strengths and weaknesses of large companies. As a result, the report goes into detail about the Automotive Blockchain Market.
Automotive Blockchain Market Overview
Manufacturing, commerce, finance, healthcare, automotive and supply chain management are just some of the industries that have benefited from Blockchain (BC) technology. BC’s unique approach, which is focused on trust and value, is one of the most appealing aspects of this revolution that brings new ways of doing business. Although the automotive industry has only recently become fully digitized, it has and continues to hold enormous promise for the future of personal mobility. With the development of technology, the automotive industry has evolved from cars powered by internal combustion engines to hybrid and electric vehicles.
Automotive Blockchain Market Dynamics
The benefits that blockchain can bring to the automotive ecosystem, both in terms of simplifying participant engagement and enabling new business models for mobility, have piqued the interest of automotive professionals. In addition to providing a single source of data, blockchain can support device-to-device transactions, smart contracts, and real-time processing and settlement. This results in gains and operational efficiencies in areas such as supply chain transparency, financial transactions between ecosystem members, verification of access to cars and customer experience and loyalty in the automotive industry.
The development of new industrial business models, such as those involving alternative ownership, car sharing, rewards programs and other mobility services that increase brand appeal and loyalty, can also be aided by blockchain technology. Porsche, for example, is testing blockchain applications for use in cars, including the ability to lock and unlock the car using an app, grant temporary access permissions and look at new business models based on encrypted data logging. Blockchain capabilities, such as consumer authentication and usage tracking across a range of mobility services, allow businesses to design customized customer experiences that result in lifelong customers.
Automotive Blockchain Market Regional Insights
The North American market was one of the first to adopt blockchain technology in the automotive industry and it is expected to be the largest contributor to this market during the forecast period. Growth will be driven by two main factors: the growing need for transparency and immutability in business processes, and significant investment in the blockchain platform by software vendors. In May 2018, SHIFT Mobility launched the world’s first blockchain-powered platform for the automotive industry. Currently and in the future, the platform will enable the connection, understanding and exploitation of demand from a wide range of automotive and supply chain applications, trade channels, enhanced diagnostics and transport logistics.
Automotive Blockchain Market Segmentation
By type
- Public blockchain
- Private blockchain
- Hybrid blockchain
By applications
- Smart contracts
- Supply chain
- Financing
- Mobility solutions
- Second
By supplier
- Middleware provider
- Provider of infrastructure and protocols
- Application and solution provider
Key Competitors of the Automotive Blockchain Market:
- IBM Corporation
- Accenture PLC
- Microsoft Corporation
- BigchainDB GmbH
- Ripple Labs Inc.
- carVertical
- Ethereum
- Context Labs BV
- ConsenSys
- Helbiz Mobility System PTE Ltd.
- ShiftMobility
- RSK Labs
- Tech Mahindra
- HCL technologies
- XAIN
- Mesosphere Inc.
- Oaken Innovations
- Productive Edge LLC.
- Factom Inc.
- Project Provenance Ltd.
Key questions answered in the Automotive Blockchain Market are:
- What is an Automotive Blockchain?
- What will be the growth rate of the Automotive Blockchain market over the forecast period?
- What is the nature of competition in the Automotive Blockchain industry in developed and developing economies?
- Who are the key players in the Automotive Blockchain market?
- Who are the market leaders in Automotive Blockchain in Europe?
- Who are the market leaders in Automotive Blockchain in the US and Canada?
- Who are the Automotive Blockchain Market Leaders in India, China, Japan and South Korea?
- What are the factors influencing the growth of the Automotive Blockchain market?
- Who held the largest market share in the Automotive Blockchain market?
- What are the factors driving the growth of the Asia-Pacific Automotive Blockchain market?
Key offers:
- Market share, size and forecast by revenue | 2022–2029
- Market Dynamics – Growth Drivers, Constraints, Investment Opportunities and Key Trends
- Market Segmentation – A detailed analysis by type, application, vendor and region
- Competitive landscape – Top key suppliers and other prominent suppliers
Maximize Market Research is a leading research firm, and has also published the following reports:
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Blockchain Supply Chain Market – Blockchain Supply Chain Market size is expected to reach USD 11.69 billion by 2029 with a CAGR of 53.1 percent during the forecast period. The Blockchain Supply Chain Market is expected to be driven by the growing popularity of blockchain technology in retail and SCM.
Blockchain in the telecom market – The blockchain in telecom market size is expected to reach USD 38903.17 million by 2029 with a CAGR of 84.3 percent during the forecast period. Blockchain in the telecom market is expected to be driven by the growing security concerns among all telecom companies in the world.
About Maksimer market research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communications, automobiles and automobiles, chemical products and substances, general merchandise, beverages, personal care and automated systems. To name a few, we offer market-verified industry calculations, technical trend analysis, key market research, strategic advice, competitive analyses, production and demand analyses, and customer impact studies.
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