Dublin, Oct. 21, 2021 (GLOBE NEWSWIRE) -- The "Global Automotive Blockchain Market (2021-2026) by Type, Application, Provider, Vehicle Type, Propulsion, Geography, Competitive Analysis and the Impact of COVID-19 with Ansoff Analysis" report has been added to ResearchAndMarkets.com's offering.
The Global Automotive Blockchain Market is estimated to be USD 0.41 Bn in 2021 and is expected to reach USD 1.68 Bn by 2026, growing at a CAGR of 32.5%.
Market Dynamics
Blockchain technology is gaining importance in the automotive industry owing to the need for secure payments and digital access while interacting with other V2V communication. The increasing use of blockchain has helped in tracking and further ensuring transparency. These factors are driving the growth of the automotive blockchain market. The growing demand for better payments in logistics & transportation, mobility services and also increasing demand for the crypto currency market are further enhancing the growth opportunity for the blockchain market.
However, uncertainties involved in government regulations, data security concerns, lack of technical expertise, and limited scalability are some of the restraining factors that may have an impact on the growth of the global market during the forecasted period.
Market Segmentation
The Global Automotive Blockchain Market is segmented further based on Type, Application, Provider, Vehicle Type, Propulsion, and Geography.
By Type, the market is classified as Public Blockchain, Private Blockchain, Consortium Blockchain, and Hybrid Blockchain. Amongst all, the private blockchain segment is estimated to hold the highest market share.
By Application, the market is classified as contracts, supply chain, financing, mobility solutions, and others. Amongst all, the mobility segment is estimated to hold the highest market share.
By Provider, the market is classified as a middleware provider, infrastructure & protocols provider, and application & solution provider. Amongst all, the infrastructure and protocols segment is estimated to hold the highest market share.
By Vehicle Type, the market is classified as passenger cars and commercial vehicles. Amongst the two, the passenger vehicle segment is estimated to hold the highest market share.
By Propulsion, the market is classified as ICE and electric vehicles. Amongst the two, the ICE segment is estimated to hold the highest market share.
By Geography, North America is projected to lead the market.
Recent Developments
1. SHIFTMobility Inc has launched CarCheck Pro vehicle inspections that can enable any service center to quickly add or retrieve vehicle information from blockchains via an integrated VIN scanner or license plate lookup and share with their customers. - 22nd May 2018
2. ZF Friedrichshafen AG, UBS, and IBM Corp shall jointly develop an automotive platform for mobility services based on blockchain technology. The open automotive transaction platform known as Car eWallet technology can enable auto-pay of transactions at the electric vehicle charging station. - 14th September 2020
Company Profiles
Some of the companies covered in this report are IBM Corporation, Microsoft Corporation, BigchainDB GmbH, carVertical, Helbiz, ShiftMobility, RSK Labs, Tech Mahindra, HCL Technologies, and XAIN etc.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Automotive Blockchain Market.
- The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes in-depth market analysis using Porter's 5 force model and the Ansoff Matrix. The impact of Covid-19 on the market is also featured in the report.
- The report also contains the competitive analysis using Competitive Quadrant, the analyst's proprietary competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Blockchain technology is gaining importance in the automotive industry owing to the need for secure payments and digital access while interacting with other V2V communication. The increasing use of blockchain has helped in tracking and further ensuring transparency. These factors are driving the growth of the automotive blockchain market. The growing demand for better payments in logistics & transportation, mobility services and also increasing demand for the crypto currency market are further enhancing the growth opportunity for the blockchain market.
However, uncertainties involved in government regulations, data security concerns, lack of technical expertise, and limited scalability are some of the restraining factors that may have an impact on the growth of the global market during the forecasted period.
Key Topics Covered:
1 Report Description
2 Research Methodology
3 Executive Summary
4 Market Overview
4.1 Introduction
4.2 Market Dynamics
4.2.1 Drivers
4.2.1.1 Need for secure digital access and payments in the automotive sector
4.2.1.2 Adoption of Blockchain technology in the automotive supply chain
4.2.1.3 Growth in digital transactions
4.2.1.4 Reduced operational cost
4.2.2 Restraints
4.2.2.1 Uncertainties involved in government regulations
4.2.2.2 Limited Scalability
4.2.3 Opportunities
4.2.3.1 Advancements in autonomous vehicles
4.2.3.2 Technological advancements
4.2.3.3 Demand for blockchain-based smart contracts
4.2.3.4 Rising demand for Crypto-currencies
4.2.4 Challenges
4.2.4.1 Concerns over security, privacy, and control
4.2.4.2 Gaining User Acceptance and Lack of Technical Expertise
4.3 Trends
5 Market Analysis
5.1 Porter's Five Forces Analysis
5.2 Impact of COVID-19
5.3 Ansoff Matrix Analysis
6 Global Automotive Blockchain Market, By Type
6.1 Introduction
6.2 Public Blockchain
6.3 Private Blockchain
6.4 Consortium Blockchain
6.5 Hybrid Blockchain
7 Global Automotive Blockchain Market, By Application
7.1 Contracts
7.2 Supply Chain
7.3 Financing
7.4 Mobility solutions
7.5 Others
8 Global Automotive Blockchain Market, By Provider
8.1 Introduction
8.2 Middleware Provider
8.3 Infrastructure and Protocols Provider
8.4 Application and Solution Provider
9 Global Automotive Blockchain Market, By Vehicles Type
9.1 Introduction
9.2 Passenger Car
9.3 Commercial Vehicles
10 Global Automotive Blockchain Market, By Propulsion
10.1 Introduction
10.2 ICE
10.3 Electric Vehicle
10.3.1 Battery Electric Vehicle (BEV)
10.3.2 Hybrid Electric Vehicle (HEV)
10.3.3 Plug-In Electric Vehicle (PHEV)
11 Global Automotive Blockchain Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 South America
11.3.1 Brazil
11.3.2 Argentina
11.4 Europe
11.4.1 UK
11.4.2 France
11.4.3 Germany
11.4.4 Italy
11.4.5 Spain
11.4.6 Rest of Europe
11.5 Asia-Pacific
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4 Indonesia
11.5.5 Malaysia
11.5.6 South Korea
11.5.7 Australia
11.5.8 Russia
11.5.9 Rest of APAC
11.6 Rest of the World
11.6.1 Qatar
11.6.2 Saudi Arabia
11.6.3 South Africa
11.6.4 United Arab Emirates
11.6.5 Latin America
12 Competitive Landscape
12.1 Competitive Quadrant
12.2 Market Share Analysis
12.3 Competitive Scenario
12.3.1 Mergers & Acquisitions
12.3.2 Agreement, Collaborations, & Partnerships
12.3.3 New Product Launches & Enhancements
12.3.4 Investments & Funding
13 Company Profiles
13.1 IBM
13.2 Accenture
13.3 Microsoft
13.4 Carvertical
13.5 Xain
13.6 HCL
13.7 Tech Mahindra
13.8 NXM Labs
13.9 Carblock
13.10 Cube
13.11 Context Labs
13.12 Shiftmobility
13.13 BigchainDB
13.14 Dashride
13.15 Consensys
13.16 Foam
13.17 RSK Labs
13.18 GEM
13.19 Ethereum
13.20 Helbiz Mobility System PTE Ltd
13.21 Robert Bosch GmbH
14 Appendix
For more information about this report visit https://www.researchandmarkets.com/r/bmuv2w
