Dublin, Oct. 05, 2023 (GLOBE NEWSWIRE) -- The "Automotive Blockchain Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global automotive blockchain market size reached US$ 588.5 Million in 2022. Looking forward, the publisher expects the market to reach US$ 2,904.3 Million by 2028, exhibiting a growth rate (CAGR) of 28.98% during 2023-2028.
The global automotive blockchain market presents significant growth prospects, driven by its transformative impact on the industry. Dive into our comprehensive market research report to gain insights into the dynamic forces shaping this sector, emerging trends, and the manifold advantages of integrating blockchain in automotive operations.
Automotive blockchain, a decentralized ledger system, is revolutionizing the way data related to vehicles is stored and managed. Powered by cryptographic techniques, it ensures secure and transparent information sharing, making it a game-changer in the automotive sector.
Experience rapid processing of warranty claims, reducing downtime and enhancing customer satisfaction. Easily track and manage automotive operations, from manufacturing to sales, ensuring seamless workflows. Benefit from improved smart contracts that automate processes and transactions for increased efficiency.
Enjoy the security of tamper-proof transaction records, preventing fraudulent activities and ensuring data integrity. Enhance transparency across the automotive ecosystem, fostering trust among stakeholders. Trace vehicles and their components instantly, facilitating recalls and maintenance. Save on payment exchange fees with blockchain-enabled transactions.
Automotive blockchain is more than just a buzzword; it's a game-changing technology that redefines how the automotive industry operates. With immediate, shared, and transparent information at its core, it revolutionizes supply chain management, safeguards against counterfeit products, and ensures top-notch product and service delivery.
As investments surge in autonomous vehicles and interconnected technologies, automotive blockchain emerges as a cornerstone of the industry's future. Increasing vehicle production worldwide amplifies the need for efficient supply chain management and quality control, driving blockchain adoption.
Rising investments in autonomous vehicles and mobility services boost demand for automotive blockchain, enabling seamless vehicle monitoring. Integration of IoT and AI with connected devices enhances tracking, processing, and authentication, propelling market growth. Heightened emphasis on data security, faster transactions, and robust R&D activities further accelerate market expansion. Join the automotive blockchain revolution and stay ahead in this dynamic industry.
Key Questions Answered in This Report
- What was the size of the global automotive blockchain market in 2022?
- What is the expected growth rate of the global automotive blockchain market during 2023-2028?
- What are the key factors driving the global automotive blockchain market?
- What has been the impact of COVID-19 on the global automotive blockchain market?
- What is the breakup of the global automotive blockchain market based on the provider?
- What is the breakup of the global automotive blockchain market based on the application?
- What are the key regions in the global automotive blockchain market?
- Who are the key players/companies in the global automotive blockchain market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $588.8 Million |
| Forecasted Market Value (USD) by 2028 | $2904.3 Million |
| Compound Annual Growth Rate | 30.5% |
| Regions Covered | Global |
Competitive Landscape:
- Accenture plc
- BigchainDB GmbH
- carVertical
- ConsenSys
- GemOS
- HCL Technologies Limited (HCL Enterprise)
- International Business Machines Corporation
- Microsoft Corporation
- NXM Labs Inc.
- ShiftMobility Inc.
- Tech Mahindra Limited
Key Market Segmentation:
Breakup by Type:
- Public Blockchain
- Private Blockchain
- Hybrid Blockchain
Breakup by Provider:
- Application and Solution
- Middleware
- Infrastructure and Protocol
Breakup by Mobility Type:
- Personal Mobility
- Shared Mobility
- Commercial Mobility
Breakup by Application:
- Financing
- Mobility Solutions
- Smart Contract
- Supply Chain
Breakup by End User:
- OEMs
- Vehicle Owners
- Mobility as a Service Provider
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/5j8q7g
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