Global Automotive Blockchain Market Size By Provider (Application & Solution, Middleware, Infrastructure & Protocol.), By Mobility (Personal Mobility, Shared Mobility, Commercial Mobility), By Application (Supply Chain, Smart Contracts, Mobility Solutions, Financing), By Geographic Scope And Forecast
Report ID: 30257|No. of Pages: 202
Global Automotive Blockchain Market Size By Provider (Application & Solution, Middleware, Infrastructure & Protocol.), By Mobility (Personal Mobility, Shared Mobility, Commercial Mobility), By Application (Supply Chain, Smart Contracts, Mobility Solutions, Financing), By Geographic Scope And Forecast
Automotive Blockchain Market Size And Forecast
Automotive Blockchain Market size was valued at USD 0.91 Billion in 2024 and is projected to reach USD 8.02 Billion by 2028, growing at a CAGR of 31.18% from 2024 to 2031.
The growing demand for the higher security of the data, increasing focus on reducing the manipulations, and the growing focus on reducing manipulation of data, better quality control, and the need for a faster business transaction are expected to drive the Automotive Blockchain Market over the predicted years. The Global Automotive Blockchain Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
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Global Automotive Blockchain Market Drivers
The market drivers for the Automotive Blockchain Market can be influenced by various factors. These may include:
- Enhanced Security: Data integrity and security are critical in the automobile business, and blockchain technology offers an immutable and secure means of storing data.
- Transparency in the supply chain: Blockchain makes it possible to track parts and components transparently throughout the chain, which lowers the possibility of fake parts and improves traceability.
- Streamlined Transactions: By automating and streamlining financial transactions between suppliers, manufacturers, and distributors, smart contracts on blockchain can save administrative overhead and boost productivity.
- Data exchange and Monetization: Consenting to share vehicle data for research, analytics, and customised services allows blockchain to enable safe data exchange across stakeholders and creates prospects for data monetization.
- Vehicle Identity and History: Blockchain technology can offer an unalterable record of an automobile’s ownership, maintenance history, and accident history. This can improve transparency and confidence in the used car market.
- Mobility Services: Peer-to-peer decentralised ride-hailing and car-sharing services can be made possible by blockchain technology, enabling people to safely share their cars or provide transportation services to others without the need for middlemen.
- Regulatory Compliance: By offering a transparent and auditable record of data transfers, blockchain can assist automobile firms in adhering to rules and regulations, including those pertaining to data privacy (such as the GDPR).
- Integration of upcoming Technologies: By offering a safe and decentralised platform for data interchange and interoperability, blockchain can support upcoming technologies like artificial intelligence (AI) and the Internet of Things (IoT).
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Global Automotive Blockchain Market Restraints
Several factors can act as restraints or challenges for the Automotive Blockchain Market. These may include:
- Complexity and Integration Issues: It can be difficult to integrate blockchain technology with current automotive systems and procedures. Blockchain technology may not be easily integrated with existing systems, which could cause delays in deployment and higher expenses.
- Scalability Problems: Transaction throughput and processing speed are two examples of scalability issues that blockchain networks, particularly public ones, may encounter. The automotive sector handles enormous volumes of data produced by IoT devices and linked cars, therefore scalability concerns could prevent blockchain technology from being widely used.
- Lack of standardisation and compatibility across various blockchain platforms and protocols might make it difficult for players in the automotive industry to collaborate and share data. Industry-wide blockchain solution integration could be challenging and expensive in the absence of universal standards.
- Regulatory uncertainties: Automotive firms may be discouraged from implementing blockchain solutions due to regulatory uncertainties around blockchain technology, specifically with regard to data privacy, security, and legal compliance. The automotive blockchain market may face obstacles to investment and innovation due to unclear regulatory frameworks.
- Cost of Implementation: The automobile industry will need to invest heavily in infrastructure, technology, and personnel in order to implement blockchain solutions. Despite the potential long-term benefits of blockchain technology, some organisations, particularly smaller ones, may be discouraged from implementing it due to high initial costs.
- Security Issues: Blockchain is not impervious to security flaws, despite the fact that cryptography and decentralised consensus processes improve security. Cryptographic flaws, blockchain network hacks, and smart contract problems might cause stakeholders in the automotive industry to lose faith in the technology.
- Resistance to Change: The adoption of blockchain technology in the automobile industry may be slowed down by resistance to departing from established business models and procedures. Businesses could be reluctant to change current procedures and processes, even if blockchain technology may increase productivity and transparency.
Global Automotive Blockchain Market Segmentation Analysis
The Global Automotive Blockchain Market is Segmented on the basis of Provider, Mobility, Application, And Geography.
Automotive Blockchain Market, By Provider
• Application & Solution
• Middleware
• Infrastructure & Protocol
Based on the Provider, the market is bifurcated into Application & Solution, Middleware, and Infrastructure & Protocol. The Application & Solution segment is expected to hold the largest market share. The factors can be attributed to the introduction of technologically advanced blockchain solutions and the significant investments by OEMs and Tier I companies in the automotive blockchain in partnership with solution providers.
Automotive Blockchain Market, By Mobility
• Personal Mobility
• Shared Mobility
• Commercial Mobility
Based on Mobility, the market is bifurcated into Personal Mobility, Shared Mobility, and Commercial Mobility. The personal Mobility segment is predicted to hold the most significant CAGR in the forecasted period due to rapid urbanization, Strong economic growth, increasing purchasing power, and the growing population.
Automotive Blockchain Market, By Application
• Supply Chain
• Smart Contracts
• Mobility Solutions
• Financing
Based on Application, the market is bifurcated into Supply Chain, Smart Contracts, Mobility Solutions, and Financing. The Smart Contracts segment is anticipated to hold the largest market share. The factors can be credited for their applications in the automotive industry, such as title transfer, dealership management, and B2B contractual agreements.
Automotive Blockchain Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
Based on Geography, the Global Automotive Blockchain Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. The largest share in the market will be dominated by the Americas owing to the significant investments by technology providers in the blockchain platform and the rising demand for transparency & immutability in business operations in this region.
Key Players
The “Global Automotive Blockchain Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as Carblock, IBM, Microsoft, BigchainDB, Tech Mahindra, carVertical, HCL Technologies, NXM Labs, Context Labs, and Cube.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2020-2031 |
| BASE YEAR | 2023 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2020-2022 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Carblock, IBM, Microsoft, BigchainDB, Tech Mahindra, carVertical, HCL Technologies, NXM Labs, Context Labs, and Cube. |
| SEGMENTS COVERED | By Provider, By Mobility, By Application, And By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
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Frequently Asked Questions
1 INTRODUCTION OF GLOBAL AUTOMOTIVE BLOCKCHAIN MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL AUTOMOTIVE BLOCKCHAIN MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL AUTOMOTIVE BLOCKCHAIN MARKET, BY PROVIDER
5.1 Overview
5.2 Application & Solution
5.3 Middleware
5.4 Infrastructure & Protocol
6 GLOBAL AUTOMOTIVE BLOCKCHAIN MARKET, BY MOBILITY
6.1 Overview
6.2 Personal Mobility
6.3 Shared Mobility
6.4 Commercial Mobility
7 GLOBAL AUTOMOTIVE BLOCKCHAIN MARKET, BY APPLICATION
7.1 Overview
7.2 Supply Chain
7.3 Smart Contracts
7.4 Mobility Solutions
7.5 Financing
8 GLOBAL AUTOMOTIVE BLOCKCHAIN MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East & Africa
9 GLOBAL AUTOMOTIVE BLOCKCHAIN MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
10 COMPANY PROFILES
10.1 Carblock
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 IBM
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Microsoft
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 BigchainDB
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Tech Mahindra
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 carVertical
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 HCL Technologies
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 NXM Labs
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 Context Labs
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
10.10 Cube
10.10.1 Overview
10.10.2 Financial Performance
10.10.3 Product Outlook
10.10.4 Key Developments
11 Appendix
11.1 Related Research
Report Research Methodology
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Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
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For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
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| Demand side |
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Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
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The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
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