Automotive Blockchain Market  :

The Global Automotive Blockchain Market is estimated to be worth USD 5.68 Billion by 2030, registering a 33.56% CAGR during the forecast period (2022- 2030).

By switching from a centralised to a decentralised structure, blockchain technology has the potential to fundamentally change the automotive sector. With the adoption of blockchain, the automotive sector will no longer require the services of third-party middlemen, whose services are presently mandated. This might increase the efficiency of procedures in the auto industry while cutting down on costs. Due to blockchain technology, the operations of the automotive sector—including design, production, distribution, marketing, sales, finance, and vehicle service—will become more flexible and be able to contribute to the sector's growth more effectively. Increased global automobile sales, reduced operating costs, an increase in e-mobility and on-demand services, the appeal of car/ride sharing among young urban clients, and the

The factors that are incumbent for the growth of this market are an upsurge in e-mobility and on-demand services, the popularity of car/ride sharing among young urban consumers, growing sales of automobiles globally, reduced operational costs, and the need for faster transactions. The growth in the adoption of blockchain for logistics and transportation, the development of new business models for the automotive aftermarket, and the culturing of vehicle recall optimization in the US, are opportunities for the market. The drivers pushing this market's growth are an increase in e-mobility and on-demand services, the popularity of car/ride sharing among young urban customers, increased automobile sales worldwide, lowers operational costs, and the need for faster operations.

Regional Analysis
The Global Automotive Blockchain Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.

Asia-Pacific is estimated to hold the largest market share during the forecast period, owing to the boosting adoption of blockchain technology in automotive to build trust and transparency between users and enterprises. Increasing electric vehicle manufacturing and sales are likely to drive demand for automotive blockchain in this market. Furthermore, the growing use of blockchain technology in ridesharing applications in China and India will drive market growth.

North America is projected to grow rapidly due to the high frequency of blockchain technology installation in commercial vehicles in the United States and Canada. Augmented production and sales of electric vehicles are awaited to boost the demand for automotive blockchain in this region.

Market Segmentation

The Global Automotive Blockchain Market is segmented into the following types;

By Application

· Smart Contracts

· Supply Chain

· Financing

· Mobility Solutions

· Others

By Provider

· Middleware Provider

· Infrastructure and Protocols Provider

· Application and Solution Provider

By Mobility Type

· Personal Mobility

· Shared Mobility

· Commercial Mobility

Key Players
The Global Automotive Blockchain Market’s prominent key players are 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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