Press release
Global Automotive Blockchain Market Key Players, Report, Growth, Share, Size, Trends, Forecast 2024-2032
Blockchain, a decentralised and distributed digital ledger technology, offers significant potential in the automotive industry, particularly in areas such as supply chain transparency, secure transactions, and data privacy. Its ability to facilitate transparent and tamper-proof transactions makes it a highly valuable tool in various automotive applications, including vehicle tracking, finance, insurance, and autonomous driving.
The increasing need for transparency and security in automotive transactions is a major factor driving the global automotive blockchain market growth. Blockchain technology can enhance the trustworthiness of information pertaining to vehicle history, ownership, insurance, and other key details. By providing a transparent and tamper-proof digital record, blockchain helps mitigate issues related to fraud and data manipulation in automotive transactions, thus driving its market demand.
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Another key driver bolstering the automotive blockchain market demand is the rise in the adoption of connected vehicles. As vehicles become more connected, the volume of data being generated and exchanged increases, creating a need for secure data management solutions. Blockchain technology offers a secure platform for storing and sharing vehicular data, ensuring data integrity and preventing unauthorised access or tampering.
Furthermore, the application of blockchain in automotive supply chain management is also boosting the automotive blockchain market expansion. By providing a transparent record of the entire supply chain, blockchain can help track the origin of parts, verify compliance with safety standards, and monitor the performance of suppliers. This ability to ensure supply chain transparency and accountability is significantly contributing to the increasing adoption of blockchain in the automotive industry.
In addition, the advent of autonomous vehicles presents significant growth opportunities for the automotive blockchain market. Autonomous vehicles require secure data exchange and trusted transactions for functions such as real-time traffic data sharing, toll payments, and vehicle-to-vehicle communication. Blockchain, with its decentralised and tamper-proof nature, can provide the necessary security and trust for these transactions, thus fostering the automotive blockchain market demand.
Automotive Blockchain Market Segmentation
The market can be divided based on application, provider, mobility, and region.
Market Breakup by Application
Financing
Mobility Solutions
Smart Contracts
Supply Chain
Market Breakup by Provider
Application and Solutions
Middleware
Infrastructure and Protocol
Market Breakup by Mobility
Personal Mobility
Shared Mobility
Commercial Mobility
Market Breakup by Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Read Full Report with Table of Contents: https://www.expertmarketresearch.com/reports/automotive-blockchain-market
Competitive Landscape of Automotive Blockchain Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global automotive blockchain companies. Some of the major key players explored in the report by Expert Market Research are as follows:
IBM Corporation
Microsoft Corporation
carVertical, LLC
Helbiz (micromobility.com Inc.)
Tech Mahindra Ltd
HCL Technologies Limited
Marelli Holdings Co., Ltd.
NXM Labs, Inc.
BMW AG
Others
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