Automotive Blockchain Market is expected to witness ~21% CAGR during the period, 2018 to 2025

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Global Automotive Blockchain Market is projected
to witness 21 CAGR by 2023
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The global blockchain technology is at an early
stage of its innovation and major technological
operators are still experimenting and exploring
its capabilities. Though blockchain has its roots
and major presence in the financial sector, the
automotive industry is not far behind in
implementing blockchain technology for its
applications. It is technologically advanced and
is characterized by stringent regulations
regarding cybersecurity and data theft.
Therefore, there is significant potential for
blockchain technology as it is expected to speed
up the transformation of automobiles towards
decentralization. Blockchain technology can
enable easier management of trusted information,
while enabling access to critical data though
maintaining information security. Once
information is created in blockchain, it is
difficult to change or delete by a single
individual as they are verified and managed by
automation and shared protocols. Report Sample
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Market Research AnalysisIn terms of region, the
global market for the automotive blockchain is
segmented into North America, Europe,
Asia-Pacific, and the Rest of the World.
Asia-Pacific is expected to hold the largest
market share during the forecast period, owing to
growing production and sales of electric vehicles
in China and Japan. Moreover, the growing
development in blockchain technology across the
country, leads to the growth of automotive
blockchain market. For instance, in March 2017,
Chinese conglomerate, Wanxiang Group, known as
the countrys biggest makers of automotive parts,
launched a new startup accelerator to fund
blockchain entrepreneurs. Browse Complete Report
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orts/automotive-blockchain-market-7735
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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.
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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). The
major players in this market have adopted the
strategies such as geographic expansion, product
launch, collaboration, and mergers
acquisitions. The growth of the market vendors is
dependent on the market conditions, government
support, and industry development. Thus, the
vendors should focus on expanding, geographically
and improving the services.
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