Global Automotive Blockchain Market was valued at USD 425.57 million in2019 which is expected to reach USD 5.61 billion by 2027 at a CAGR 28.2%.
Automotive blockchain technology is used to maintain track of data and store it for automobile related processes. This technology utilized in several processes like smart contracts, IoT along with other processes like services, car sale, warranty calm processing, and other related processes. Automotive blockchain is widely applied in various sectors such as Financing, Supply Chain, Smart Contracts, and Mobility Solution.
Rise in focus on reducing data leaks and manipulations is the main key driving factor for market growth which is expected to boost the global automotive blockchain market growth, during this forecast period. Furthermore, faster transactions and reduced operational costs will have the positive impact on global automotive blockchain market growth. Moreover, blockchain technology is significantly growing in automotive industry owing to advantages of blockchain like usage based insurance, , transportation, payment, and logistics. Rise in enhanced transparency in automotive operations, and stability in automotive operations will fuel the global blockchain market growth.
Global Automotive Blockchain Market is segmented into provider such as Application & Solution, Infrastructure & Protocol, and Middleware, by mobility such as Commercial Mobility, Personal Mobility, and Shared Mobility. Further, Global Automotive Blockchain Market is segmented into application such as Financing, Supply Chain, Smart Contracts, and Mobility Solution.
Also, Global Automotive Blockchain Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key Players
Various key players are discussed in this report such as Bigchaindb, Shiftmobility, Context Labs, Cube, Carblock, NXM Labs, Xain, HCL Technologies, Tech Mahindra, Helbiz, Carvertical, Microsoft, Accenture, and IBM.
- Application & Solution
- Infrastructure & Protocol
- Commercial Mobility
- Personal Mobility
- Shared Mobility
- Supply Chain
- Smart Contracts
- Mobility Solution
- North America
- Latin America
- Asia Pacific
- Middles East & Africa
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