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According to the latest report Automotive Blockchain Market is expected to witness 21% CAGR during the period, 2019 to 2025, Blockchain technology is a relatively new technology that has the potential to transform the way automotive industry operates by shifting away from a centralized structure towards a decentralized system. With the implementation of blockchain in automotive industry, third-party intermediaries, whose services are needed today in automotive industry would no longer be needed. This can effectively increase the speed of automotive industry processes and reduce the cost of operations.Get Free Sample "Automotive Block-chain Market Research Report-Global Forecast till 2023" At:
https://www.marketresearchfuture.com/sample_request/7735
Key Players:
The prominent players in the global automotive blockchain market include IBM Corporation (US), Microsoft Corporation (US), BigchainDB GmbH (Germany), carVertical (Estonia), Helbiz (US), ShiftMobility (US), RSK Labs (Argentina), Tech Mahindra (India), HCL Technologies (India), and XAIN (Germany).
Automotive Blockchain Market Drivers and Restraints:
Blockchain technology is a relatively new technology that has the potential to transform the way automotive industry operates by shifting away from a centralized structure towards a decentralized system. With the implementation of blockchain in automotive industry, third-party intermediaries, whose services are needed today in automotive industry would no longer be needed. This can effectively increase the speed of automotive industry processes and reduce the cost of operations. Through blockchain technology, the automotive industry operations, such as design, production, distribution, marketing, selling, finance and servicing of vehicles, will become more flexible and can also effectively contribute to the growth of the automotive industry.
The factors that are responsible for the growth of this market are an increase in e-mobility and on-demand services, popularity of car/ride sharing among young urban consumers, increasing sales of automobiles globally, reduced operational cost, and the need for faster transaction. The growth is, however, restrained by the uncertainty over regulations, such as general data protection regulation (GDPR) in Europe, lack of technical expertise, and limited scalability. The rise in adoption of blockchain for logistic and transportation, development of new business models for automotive aftermarket, and the increasing vehicle recall optimization in US, are the opportunities for the market. Global blockchain operators are facing the challenge of integrating blockchain interface with existing systems for applications, such as peer-to-peer trading, smart contract generation and other potential blockchain applications in the automotive sector.
Segmentation Automotive Blockchain Market:
Global market is segmented on the basis of technology type, application, provider, propulsion, vehicle type, and region. On the basis of technology type, the market has been segmented into open blockchain, closed blockchain, consortium blockchain, and hybrid blockchain. On the basis of application, the market has been segmented into mart contracts, supply chain, financing, mobility solutions, and others. On the basis of provider, the market has been segmented into middleware provider, infrastructure & protocols provider, and application & solution provider. On the basis of propulsion, the market has been segmented into ICE and electric vehicle, whereas the electric vehicle segment is further sub-segmented into battery electric vehicle (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV). On the basis of vehicle type, the market has been segmented into passenger car and commercial vehicle.
Automotive Blockchain Industry Analysis
The report for global automotive blockchain market of Market Research Future covers extensive primary research. This is accompanied with detailed analysis of qualitative and quantitative aspects by various industry experts and key opinion leaders to gain deeper insights into the market and industry performance. The report gives a clear picture of the current market scenario, which includes the historical and forecasted market size, in terms of value and volume, technological advancement, macroeconomic, and governing factors of the market. The report provides comprehensive information about the strategies of the top companies in the industry, along with a broad study of the different market segments and regions.
Scope of the Report:
This study provides an overview of the global automotive blockchain market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive blockchain market by technology type, application, provider, propulsion, vehicle type, and region.
By Technology Type
Open Blockchain
Closed Blockchain
Consortium Blockchain
Hybrid Blockchain
By Application
Contracts
Supply Chain
Financing
Mobility Solutions
Others
By Provider
Middleware Provider
Infrastructure & Protocols Provider
Application & Solution Provider
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