Press release
Automotive Blockchain Market Expected to Reach at High Pace by 2023 | Know COVID-19 Analysis | Top Companies- IBM, Microsoft, BigchainDB GmbH
Automotive Blockchain Market
The companies are actively updating their systems for the safety of customer’s data and decrease the data breach activities. The automotive blockchain is a step further in this direction as the cloud storage, and Internet of Things (IoT) are rising. This method is also helpful in affective data storage and management. The data is stored in the blockchain, which includes multiple authentications at many stages that help is saving the data from surprize data breach acts. As the demands and usage of advanced technologies are increasing, the companies are regularly developing the systems to meet the increasing demands for automotive blockchain systems.
With the rapid digitalization, cyber-attacks have also surged, which has forced the authorities to introduce rules for data and information security. The companies and governments are making hefty investments and are helping the market gain desired growth rates. These systems have also increased transaction processing speeds and decreased operating costs.
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).
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Market Breakdown:
The global automotive blockchain market is segmented into several categories mentioned below:
• The global automotive blockchain market is segmented into a closed blockchain, open blockchain, hybrid blockchain, and others based on technology.
• The global automotive blockchain market is characterized by application & solution providers, middleware providers, and others based on service providers.
• The market is divided among commercial and personal vehicle segments based on vehicle categories.
• The global automotive blockchain market is segmented into contractors, financing, and others based on applications.
Regional Classification:
The global automotive blockchain market has gained global adoption worldwide due to the demands for data security, faster transaction procedures, and accuracy in the data storage & management. The Asia Pacific, North America, Europe, and the rest of the world are the major regions observed for the global automotive blockchain market. The Asia Pacific region is leading the market due to developing and expanding the transportation industry, demanding better alternates, growing government initiatives, a rise in disposable incomes, vast data production growing awareness, and other factors. The European and Asia Pacific region follows this market in that order due to well-established automotive sectors and demands for advanced technologies.
Industry News:
With the digitalization, the data is at higher risk, which has increased the demands for effective data storage methods. The global adoption for effective data management in transportation & logistics, usage-based insurance, and faster & better payment alternates has lately boosted the market. The Asia Pacific region is the current market leader with rapidly developing economies like India, China, and Japan among the major shareholders.
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TABLE OF CONTENTS:
• Market Introduction
• Research Methodology
• Market Dynamics
• Executive Summary
• Market Factor Analysis
• Automotive blockchain Market, By Segments
• Competitive Analysis
More…
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