Automotive Blockchain Market Strategic Insights 2020 with analysis of Leading Players: IBM, Accenture, Microsoft, Tech Mahindra

According to the current analysis of Reports and Data, the global Automotive Blockchain market was valued at USD 92.94 Million in 2018 and is projected to grow at a CAGR of 34.95% from 2019 to USD 1.79 Billion in 2026. Factors affecting the growth of the Automotive Blockchain market are the rising focus related to the reduction of the data manipulation as well as leaks, and the efficiency Automotive Blockchain provides with its low operational cost. These factors will propel the growth of the market over the forecasted period. However, the uncertainty of the regulation that are associated with the Blockchain can affect the market growth through 2026.

This report covers the recent COVID-19 incidence and its impact on Automotive Blockchain Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

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Key participants include IBM (U.S.), Accenture (Ireland), Microsoft (U.S.), CarVertical (Estonia), Helbiz (U.S.), Tech Mahindra (India), HCL Technologies (India), Xain (Germany), NXM Lab (U.S.), Carblock (U.S.), Cube (South Korea), Context Labs (Netherlands), Shiftmobility (India), Bigchaindb (Germany), Dashride (U.S.), and Consensys (U.S.).

Blockchain is a decentralized, distributed ledger that can record the provenance of a digital asset. The implementation of this technology in the automotive industry is called as Automotive Blockchain. The blockchain technology has made a huge impact in the automotive industry due to the features like prompt transactions, and low data leaks amongst others.

The implementation of 5G network infrastructure will boost the further growth of the Automotive Blockchain market. As high tech features for in-vehicles are increasingly becoming available, connected through networks, blockchain in automotive industry is gaining more traction. Combining blockchain and 5G technology to automated vehicles can provide number of possibilities for tracking, monitoring, protection against cyber-security threats as well as the ability to share the information of the vehicle amongst others.

For the purpose of this report, Reports and Data have segmented the global Automotive Blockchain market according to Product, Component, Application, End-user, and Region:

Application (Revenue, USD Million; 2016-2026)
Smart Contracts
Supply Chain
Financing
Mobility Solutions
Others

Provider (Revenue, USD Million; 2016-2026)
Middleware Provider
Infrastructure and Protocol Provider
Application and Solutions Provider

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Mobility type (Revenue, USD Million; 2016-2026)
Personal Mobility
Shared Mobility
Commercial Mobility

Regional Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)

Further key findings from the report suggest:

1. The Global Automotive Blockchain market is forecast to grow from USD 92.94 Million in 2018 at a rate of 34.95% CAGR to reach a valuation of USD 1.79 Billion in 2026.

2. Increasing focus related to the reduction of the manipulation of the data as well as data leaks is one of the major factor boosting the growth of the market.

3. However, the uncertainty of the government regulations related to blockchain is one of the major factors that will affect the growth of the market over the forecasted period.

4. Mobility Solutions segment is forecasted to witness fastest growth in the coming years on account of rapid growth of shared mobility industry, rise in the consumer demands, and the inclusion of blockchain in automotive business models.

5. Japan is introduced the blockchain technology for car insurance registration, thereby lowering the involvement of the third party and the middleman...Continued

Reasons to buy Automotive Blockchain Market Report:

-Information provided in the report assists companies in making well-informed executive decisions with a comprehensive understanding of the Automotive Blockchain market scenario and trends.

-Assists companies in implementing lucrative expansion strategies by offering information relating to the projected fluctuations in sales performance and supplier prices.

-Enables IT enterprises in capitalizing on the latest market trends and accurate insights into the Automotive Blockchain Market, arming them with essential information and other significant concerns of the industry.

-It allows readers to make favorable investments by tracing the substantial focus areas highlighted by survey takers in 2018.

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