Increasing focus related to the lowering of the manipulation of the data as well as the data leaks is one of the major factors that is propelling the growth of the market. However, the uncertainty of the regulations related to the blockchain may affect the growth of the market through the forecasted period.

According to the current analysis of Reports and Data, the global Automotive Blockchain market was valued at USD 376.6 Million in 2020 and is projected to grow at a CAGR of 29.70% from 2020 to USD 3,089.9 Million in 2028. 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.

The automotive industry has been rapidly adopting new technologies to enhance efficiency, reduce costs, and increase security. One such technology that is gaining significant traction is Blockchain. Blockchain technology is a distributed, decentralized ledger that provides a secure and transparent way to record transactions. The implementation of this technology in the automotive industry is called Automotive Blockchain. Automotive Blockchain provides a range of benefits, such as reducing the risk of data manipulation and data leaks, enhancing transparency, and enabling faster transactions.

The global Automotive Blockchain market was valued at USD 376.6 Million in 2020 and is projected to grow at a CAGR of 29.70% from 2020 to USD 3,089.9 Million in 2028. This growth is attributed to several factors, including the increasing focus on reducing data manipulation and leaks, the efficiency of Automotive Blockchain with low operational costs, and the rise of blockchain-based applications in the automotive industry. However, the uncertainty of the regulations related to the blockchain may affect the growth of the market through the forecasted period.

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Top 10 Companies Operating in the Global Keyword Market:

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.).

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The global market is further segmented into type and application:

Application (Revenue, USD Million; 2018–2028)

  • Smart Contracts
  • Supply Chain
  • Financing
  • Mobility Solutions
  • Others

Provider (Revenue, USD Million; 2018–2028)

  • Middleware Provider
  • Infrastructure and Protocol Provider
  • Application and Solutions Provider

Mobility type (Revenue, USD Million; 2018–2028)

  • Personal Mobility
  • Shared Mobility
  • Commercial Mobility

Application (Revenue, USD Million; 2018–2028)

  • Smart Contracts
  • Supply Chain
  • Financing
  • Mobility Solutions
  • Others

Provider (Revenue, USD Million; 2018–2028)

  • Middleware Provider
  • Infrastructure and Protocol Provider
  • Application and Solutions Provider

Mobility type (Revenue, USD Million; 2018–2028)

  • Personal Mobility
  • Shared Mobility
  • Commercial Mobility

Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.

  • North America (U.S., Canada, Mexico)
  • Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
  • Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
  • Latin America (Brazil, Rest of LATAM)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Further key findings from the report suggest

·       The Global Automotive Blockchain market is forecast to grow from USD 376.6 Million in 2020 at a rate of 34.95% CAGR to reach a valuation of USD 3,089.9 Million in 2028.

·       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.

·       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.

·       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.

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

·       Applications and Solutions provider segment was the leading segment in 2018. The segment was valued at USD 76.8 million and is forecasted to grow to more than USD 600 million through 2026 on account of rising number of applications.

·       Asia Pacific region is forecasted to grow the fastest over the forecast period. Strong economic growth, rising population, rapid urbanization as well as an increasing purchasing power of the people in this region are some of the factors for the growth of the region. Other factors like increasing foreign investments in this region is boosting the growth of the market.

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