Blockchain in Automotive Market: Ocean of Possibilities of Shared Ledger Technology

Aug 14, 2019

The global blockchain in automotive market had a market size of $132.29 million in 2018 and is estimated to grow with a profitable CAGR of 32.56% over the forecast period 2019-2025.

Hyderabad, India - August 14, 2019 /MarketersMedia/ —

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. This report covers Blockchain in Automotive Market Size by Type and applications, Blockchain in Automotive market share by top 5 companies and also the market share by start-ups during the forecast period

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.

View Full Table of Contents of BlockchainIn Automotive Market:
https://www.industryarc.com/Report/18525/block-chain-in-automotive-market-research-analysis-report.html

Report Price (Single User): US $3850

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.

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

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.

B. Blockchain in Infrastructure Market
https://www.industryarc.com/Report/18532/blockchain-in-infrastructure-market-research-report.html

About IndustryARC:

IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Contact Info:
Name: Venkat Reddy
Email: Send Email
Organization: IndustryARC
Phone: +1-614-588-8538
Website: https://www.industryarc.com/Report/18525/block-chain-in-automotive-market-research-analysis-report.html

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