DUBLIN--(BUSINESS WIRE)--The "Automotive Blockchain Market by Application, Provider and Mobility: Global Opportunity Analysis and Industry Forecast, 2020-2030" report has been added to ResearchAndMarkets.com's offering.
The global automotive blockchain market is expected to value $428.57 million in 2020, and is projected to reach $5.6 billion by 2030, registering a CAGR of 29.3%.
Automotive blockchain can be considered as a continuously expanding list of records (also called as blocks), which are linked together using cryptography. They are used to record and stores data for further processes related to automobile. This includes various processes such as smart contracts, IoT along with other processes involved in car sales, service, warranty claim processing, and other related processes. The automotive related data stored in a blockchain is authentic and cannot be hampered by the users of the system thus providing safer and securer data to its customers. Moreover, it helps the buyer and seller to avoid middlemen or third parties to involve in transactions or other processes. Automotive blockchain includes applications and solutions that are helpful for better functioning of the system. This includes a middleware acting as a bridge between the application and database for storing and retrieval of data. Various players operating across the globe have made innovations and developments in the field of automotive blockchain thereby offering variety of services to the vehicle users.
The major players in the market are focusing toward the development and innovation of the blockchain, which further supplements the growth of the automotive blockchain market. Furthermore, increase in investments along with government initiatives in the automotive blockchain industry boost the market growth. In addition, various startups such as Xain, NXM Labs, Inc. and others have gained experience in the field of blockchain for vehicles, which increases the automotive blockchain market share in their regions.
Some of the factors such as protection against data leaks & manipulations and reduced operational cost drive the growth of the global automotive blockchain market. However, uncertainty over regulations hampers the growth of the market. Further, higher adoption for better payments, logistics & transportation, and usage-based insurance is anticipated to provide lucrative opportunities for the market expansion.
Automotive blockchain system is anticipated to witness significant growth over the years, owing to rise in awareness among consumers and increased demand for better and efficient medium to store data, which can be accessed from anywhere.
KEY BENEFITS FOR STAKEHOLDERS
- This study presents the analytical depiction of the global automotive blockchain market along with the current trends and future estimations to depict the imminent investment pockets.
- The overall market potential is determined to understand the profitable trends to enable stakeholders gain a stronger foothold in the market.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current market is quantitatively analyzed from 2021 to 2030 to highlight the financial competency of the market.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers.
Key Findings of the Automotive Blockchain Market:
- Based on application, the supply chain segment will generate the highest revenue in 2020.
- Based on provider type, the application & solution provider and middleware segments will be the highest revenue contributor in 2020.
- Based on North America region, U.S. is anticipated to exhibit the highest CAGR during the forecast period.
- Based on region, North America is expected to contribute the highest automotive blockchain market revenue in 2020, followed by Europe, LAMEA, and Asia-Pacific.
Key Topics Covered:
Chapter 1: Introduction
1.1. Report Description
1.2. Key Benefits For Stakeholders
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Primary Research
1.4.2. Secondary Research
1.4.3. Analyst Tools And Models
Chapter 2: Executive Summary
2.1. CXO Perspective
Chapter 3: Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Impacting Factors
3.2.2. Top Investment Pockets
3.2.3. Top Winning Strategies
3.3. Porter'S Five Forces Analysis
3.4. Market Share Analysis (2020)
3.5. Market Dynamics
220.127.116.11. Protection Against Data Leaks And Manipulations
18.104.22.168. Reduced Operational Cost
22.214.171.124. Uncertainty Over Regulations
126.96.36.199. Higher Adoption For Better Payments, Logistics & Transportation And Usage-Based Insurance
Chapter 4: Automotive Blockchain Market, By Application
4.3. Mobility Solutions
4.4. Smart Contract
4.5. Supply Chain
Chapter 5: Automotive Blockchain Market, By Provider
5.2. Application & Solutions
5.4. Infrastructure & Protocol
Chapter 6: Automotive Blockchain Market, By Mobility
6.2. Personal Mobility
6.3. Shared Mobility
6.4. Commercial Mobility
Chapter 7: Automotive Blockchain Market, By Region
7.2. North America
Chapter 8: Company Profiles
8.6. Tech Mahindra Limited
8.7. Hcl Technologies Limited
8.9. Nxm Labs, Inc.
8.10. Carblock Corp.
For more information about this report visit https://www.researchandmarkets.com/r/e814do