DUBLIN--(BUSINESS WIRE)--The "Global Automotive Blockchain Market (2021-2026) by Type, Application, Provider, Vehicle Type, Propulsion, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Blockchain Market is estimated to be USD 0.41 Bn in 2021 and is expected to reach USD 1.68 Bn by 2026, growing at a CAGR of 32.5%.
Blockchain technology is gaining importance in the automotive industry owing to the need for secure payments and digital access while interacting with other V2V communication. The increasing use of blockchain has helped in tracking and further ensuring transparency. These factors are driving the growth of the automotive blockchain market. The growing demand for better payments in logistics & transportation, mobility services and also increasing demand for the crypto currency market are further enhancing the growth opportunity for the blockchain market.
However, uncertainties involved in government regulations, data security concerns, lack of technical expertise, and limited scalability are some of the restraining factors that may have an impact on the growth of the global market during the forecasted period.
Recent Developments
1. SHIFTMobility Inc has launched CarCheck Pro vehicle inspections that can enable any service center to quickly add or retrieve vehicle information from blockchains via an integrated VIN scanner or license plate lookup and share with their customers. - 22nd May 2018
2. ZF Friedrichshafen AG, UBS, and IBM Corp shall jointly develop an automotive platform for mobility services based on blockchain technology. The open automotive transaction platform known as Car eWallet technology can enable auto-pay of transactions at the electric vehicle charging station. - 14th September 2020
Company Profiles
Some of the companies covered in this report are IBM Corporation, Microsoft Corporation, BigchainDB GmbH, carVertical, Helbiz, ShiftMobility, RSK Labs, Tech Mahindra, HCL Technologies, and XAIN etc.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Automotive Blockchain Market.
- The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
- The report also contains the competitive analysis using Competitive Quadrant, the analyst's proprietary competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Blockchain technology is gaining importance in the automotive industry owing to the need for secure payments and digital access while interacting with other V2V communication. The increasing use of blockchain has helped in tracking and further ensuring transparency. These factors are driving the growth of the automotive blockchain market. The growing demand for better payments in logistics & transportation, mobility services and also increasing demand for the crypto currency market are further enhancing the growth opportunity for the blockchain market.
However, uncertainties involved in government regulations, data security concerns, lack of technical expertise, and limited scalability are some of the restraining factors that may have an impact on the growth of the global market during the forecasted period.
Market Dynamics
Drivers
- Need for secure digital access and payments in the automotive sector
- Adoption of Blockchain technology in the automotive supply chain
- Growth in digital transactions
- Reduced operational cost
Restraints
- Uncertainties involved in government regulations
- Limited Scalability
Opportunities
- Advancements in autonomous vehicles
- Technological advancements
- Demand for blockchain-based smart contracts
- Rising demand for Crypto-currencies
Challenges
- Concerns over security, privacy, and control
- Gaining User Acceptance and Lack of Technical Expertise
Companies Mentioned
- IBM
- Accenture
- Microsoft
- Carvertical
- Xain
- HCL
- Tech Mahindra
- NXM Labs
- Carblock
- Cube
- Context Labs
- Shiftmobility
- BigchainDB
- Dashride
- Consensys
- Foam
- RSK Labs
- GEM
- Ethereum
- Helbiz Mobility System PTE Ltd
- Robert Bosch GmbH
For more information about this report visit https://www.researchandmarkets.com/r/r04aqd
