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The global demand for Automotive Blockchain Market is presumed to reach the market size of nearly USD 6.29 BN by 2030 from USD 0.67 BN in 2022 with a CAGR of 32.9% under the study period 2023 - 2030.
Automotive Blockchain refers to the tracking and storage of data related to the processes of the automobile industry. It safeguards the user's data in the blockchain in the form of blocks which are further secured with cryptography. It can be accessed by the user to get navigation information on the road. There are several benefits of using automotive blockchain solutions for the payment processes. It offers easy tracking of the functions to temper resistant transaction records as well as the reduction of fees. It also helps electric car owners to charge their cars and enable them to easily store and share their data which ultimately helps them to navigate better in any situation. It assists in completing the process of change of car ownership in a faster and more transparent manner. It eliminates the requirement of a middleman when the buyer and seller get into an agreement for the transaction of goods.
Innovations happened in the software segment for the development of blockchain technology act as a prime growth factor for the automotive blockchain market. Various government regulations and the growing investments in the blockchain industry are another growth factor for this market. Companies dealing in autonomous software solutions have gained considerable experience in the concept of blockchain for vehicles, which also adds to the popularity of the market. The market drivers are the growing need for data protection against any leakage and cutting down the operational cost of the system as this concept eliminates the employment of a third person for the upkeep of the data. Though there are insecurities in the market due to the ever-changing regulations, the increasing preference for better payment systems, transportation and logistics and user-based insurance, a type of insurance calculated based on the amount of driving are likely to to provide widespread opportunities for the market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of automotive blockchain. The growth and trends of automotive blockchain industry provide a holistic approach to this study.
This section of the automotive blockchain market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Automotive Blockchain market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the automotive blockchain market include IBM (US), Microsoft (US), Accenture (Ireland), carVertical (Estonia), Helbiz (US), Tech Mahindra (India), SHIFTMobility (US), and BigchainDB (Germany). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
In case you have any custom requirements, do write to us. Our research team can offer a customized report as per your need.
1 .PREFACE