Blockchain in Automotive Market is expected to grow at an exponential rate, providing exciting solutions for the connected car industry.
According to the new market research report by IndustryARC titled “Blockchain in Automotive Market: By Type (Public, Private, Others); By Application (Manufacturing, Automotive Financing, Automotive Title Transfer, Smart Contracts, Infotainment, Telematics, IoT, Insurance, Fleet Management, Safety and Security and Others); & By Geography – Forecast Period (2018–2023),” the market will be driven by the growing demand for data management as the number of connected cars increase.
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Americas to Dominate the Share and Growth in the Blockchain in Automotive Market:
Geographically, Americas is the leading market in terms of adoption of blockchain technology in the automotive industry. The U.S. has the highest number of automotive companies that have adopted blockchaintechnology. Europe is the next leading marketplace, Germany leading the market in the adoption of high-technological-based cars.
Selected Application Analysis Done in the Full Report:
Blockchain technology is rapidly progressing in the field of research with the potential for diversity and innovation application in automotive industry. Original equipment manufacturers (OEMs) are mapping connected cars, for real time monitoring, auditability, and scalability which are the key factors favoring blockchain technology market.
Selected Driving Factors Mentioned in the Full Report:
Automotive OEMs mainly employ blockchain technology in financial applications. However, this is expected to extend to serviceable areas such as smart manufacturing and connected cars in the near future.
People are concerned about service centres and garages fitting counterfeit spare parts into their vehicle. A Blockchain-based system will help the service centre, or the car manufacturer and the customer to trace the provenance of spare parts in every step of the supply chain, thus reducing the damage to brand reputation.
Key Players of the Blockchain in Automotive Market:
IBM, Microsoft, Cybercar, Movimento Inc., and Navdy Inc., are the foremost players in the blockchain automotive market. There is an ecosystem where companies are working in partnership with each other to develop Blockchain technology. For example, Ford is teaming up with BMW, Volkswagen, Tesla, Audi, and Volvo, while Google has partnered with BMW, General Motors, Audi, and Volkswagen.
A. Blockchain in Banking and Financial Services Market
B. FinTech Market
The Blockchain in Automotive Market Is Segmented as Indicated Below:
The growing popularity of IoT adoption and data storage services in developed countries will promote the growth of the Blockchain in Automotive Market.
A. Blockchain in Automotive Market – By Type
1. Public Blockchain
3. Others (Consortium/Hybrid Blockchain)
B. Blockchain in Automotive Market – By Application
2. Automotive Financing
3. Automotive Title Transfer
4. Smart contracts
What can you expect from the report?
The Blockchain in Automotive Market Report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product CategorY
2. Market Trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End User Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
Any other major customizations can be discussed with our team. We can also provide you with a separate quote based on your requirements. You can drop an e-mail to [email protected] to learn more about our consulting services.
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 & Beverages, Information Technology, and Life Sciences & Healthcare.
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