Blockchain in Automotive and Aerospace & Aviation Market Analysis and Forecast, 2019-2029 - Focus on Key Application and Types of Blockchain - ResearchAndMarkets.com

DUBLIN--()--The "Blockchain in Automotive and Aerospace & Aviation Market: Focus on Key Application and Types of Blockchain - Analysis and Forecast, 2019-2029" report has been added to ResearchAndMarkets.com's offering.

The blockchain in automotive and aerospace & aviation industry analysis highlights that the market is projected to grow at a CAGR of 60.35% during the forecast period 2019-2029. As per the blockchain in automotive and aviation report depicts that the market was valued at $138 million in 2018.

The blockchain in automotive and aerospace & aviation technology is majorly driven by the factors such as transparency and removal of the risk of fraud, reduce transaction cost and fast transaction settlements, and establishment of consortium and association.

However, factors such as lack of regulatory framework, infrastructure, and standardization and lack of technical expertise and awareness among the players operating in the automotive and aerospace & aviation market hinder the market growth. Moreover, factors such as the transition from car ownership to Mobility-as-a-Service (MaaS) and increasing application of blockchain in the aerospace & aviation industry are expected to create numerous opportunities for market growth.

Expert Quote on the Blockchain in Automotive and Aerospace & Aviation Market

The finance, payments, and insurance services for automotive industry and manufacturing and supply chain for the aerospace & aviation industry is dominating the blockchain in automotive and aerospace & aviation market and is anticipated to maintain its dominance throughout the forecast period. This is mainly due to complexity in the supply chain of the automotive industry, as the automotive ecosystem is highly connected, and therefore the issues of cyber threat increases. Additionally, to overcome the issues of lack of transparency and high cost of operation, players operating in the automotive and aerospace & aviation ecosystem are currently integrating blockchain solution.

Scope of the Market Intelligence on Blockchain in Automotive and Aerospace & Aviation Market

The blockchain in automotive and aerospace & aviation market report is a compilation of different segments of the use of blockchain in automotive and aerospace & aviation market including market breakdown by application, type, and region. The report further takes into consideration the market dynamics and the competitive landscape. The study also discusses in detail about the key participants involved in the industry.

Market Segmentation

The finance, payments, and insurance services segment dominated the blockchain in automotive and aerospace & aviation market and is anticipated to maintain its dominance throughout the forecast period (2019-2029). This is mainly due to a rise in the complexity of supply chain of the automotive industry, as the automotive ecosystem is highly connected, and therefore the issues of cyber threat increases.

Additionally, to overcome the issues of lack of transparency and high cost of operation, players operating in the automotive ecosystem are currently integrating blockchain solution. The manufacturing and supply chain segment dominated the blockchain in the aerospace & aviation market. This is mainly due to a rise in the demand for aircraft owing to the growing aviation industry.

The private blockchain segment dominated the blockchain in automotive and aerospace & aviation market and is anticipated to maintain its dominance throughout the forecast period. This is mainly due to the advantages of private blockchain over public and hybrid blockchain such as highly secured, permissioned network, and higher speed. In terms of growth, the hybrid blockchain market is anticipated to be the segment with the highest potential and is expected to register the highest CAGR of from 2019 to 2029.

Region-wise, North America dominated the blockchain in automotive and aerospace & aviation market and is anticipated to uphold its dominance throughout the forecast period. The blockchain in automotive and aerospace & aviation market in North America is majorly driven by factors, such as the growing number of autonomous vehicles, connected vehicles, intelligent transportation system, and MaaS industry. Additionally, the growing blockchain market is also pushed by the increasing aviation industry in the region.

Market Dynamics

Market Drivers

  • Transparency and Removal of Risk of Fraud
  • Reduce Transaction Cost and Faster Transaction Settlements
  • Establishment of Consortiums and Association

Market Restraint

  • Lack of Regulatory Framework, Infrastructure, and Standardization
  • Lack of Technical Expertise and Awareness Among the Players Operating in the Automotive and Aerospace & Aviation Market

Market Opportunities

  • Transition from Car Ownership to Mobility-as-a-Service (MaaS)
  • Increasing Application of Blockchain in Aviation Industry

Companies Mentioned

  • Accenture
  • Amazon.com, Inc.
  • BTL Group Ltd.
  • BigchainDB GmbH
  • Bitfury Group Limited
  • ConsenSys
  • Context Labs BV
  • Ethereum
  • Factom
  • IBM
  • Mesosphere Inc.
  • Microsoft
  • Oaken Innovations
  • Productive Edge LLC
  • Provenance Inc.
  • R3
  • Ripple Labs Inc.
  • XAIN AG

For more information about this report visit https://www.researchandmarkets.com/r/rfdz9s

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Related Topics: Bitcoin

Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics: Bitcoin