Asia Oceania is projected to be fastest growing market for automotive blockchain. In recent years, region has emerged as a hub for automobile production. Strong economic growth, increasing population, rapid urbanization, & growing purchasing power has triggered demand for automobiles in the region. Growing automotive industry in Asia Oceania is set to adopt blockchain technology to increase transparency & combat frauds in automotive sector.
Automotive blockchain market is projected to grow at a CAGR of 31.19% from 2020 to 2030, & market size is projected to grow from USD 0.35 billion in 2020 to USD 5.29 billion by 2030. Increasing need for transparency & immutability in complex automotive ecosystem & significant testing of blockchain use cases in automotive applications are expected to play a significant role in growth of automotive blockchain market.
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Application and solution providers are the real facets of the automotive blockchain to introduce the technology to the end consumers.
The introduction of technologically advanced blockchain solutions has witnessed a certain level of adoption in automotive applications such as car sharing, ride sharing, electric mobility, automotive title, and supply chain management, thereby fuelling overall market growth of the automotive blockchain.
Objectives of the study
- To analyze and forecast (2020–2030) the automotive blockchain market, in terms of value (Million/Billion)
- To define, describe, and project the automotive blockchain market based on application, provider, mobility type, and region
- To analyze and forecast the automotive blockchain market across 4 key regions, namely, Asia Oceania, Europe, the Americas, and the Middle East and Africa (MEA)
- To analyze the regional markets for growth trends, prospects, and their contribution to the total market
- To analyze the opportunities offered by various segments of the automotive blockchain market to the stakeholders
Americas region will be one of early adopters of the blockchain technology for automotive applications and is estimated to be major contributor to automotive blockchain market over forecast period. Growth will likely be driven by two key factors increasing demand for transparency and immutability in business operations & significant investments by technology providers in blockchain platform.
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The report provides a picture of the automotive blockchain market across different verticals and regions. It aims at estimating the market size and future growth potential of the automotive blockchain market, by application, mobility type, provider, and region.
Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, competitive landscape, recent developments, and key market strategies.
Breakdown of primaries
The study contains insights provided by various industry experts, ranging from OEMs to automotive blockchain platform and solution providers. The breakdown of the primaries is as follows:
- By Company Type: Tier-I—55%, Tier-II—30%, and Others*—15%
- By Designation: C level—70%, D level—20%, and Others**—10%
- By Region: Europe—35%, Americas—30%, Asia Oceania—25%,and MEA—10%
As venture capital funding in this market continues to increase, new technology providers are expected to enter market, offering new service models. High-growth potential in emerging markets like Asia Oceania & MEA makes automotive blockchain market more competitive.
Market is still far from reaching its potential due to lack of consumer awareness, fickle system reliability, & concerns over data privacy.
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Research methodology used in report involves various secondary sources, including automotive blockchain associations like Mobility Open Blockchain Initiative (MOBI), world blockchain association, & others; corporate filings (like annual reports, investor presentations, & financial statements), & trade, business, & automotive associations. Experts from related industries have been interviewed to understand future trends of automotive blockchain market for automotive.
The report provides insights into the following points:
- Market for key countries: The report provides the market sizing of the automotive blockchain by application and provider for 15 key countries from 2020 to 2030.
- Potential Use Cases: The report provides comprehensive information on the potential use cases of automotive blockchain offered by the top players in the industry.
- Market Development: The report provides comprehensive information on various automotive blockchain application trends. The report analyzes the markets for various automotive blockchain applications and providers across countries.
- Market Diversification: The report provides exhaustive information about emerging technologies, recent developments, and investments in the global automotive blockchain market.
- Competitive Landscape: The report offers an in-depth assessment of recent developments of the supply chain players that include application and solutions providers, platform providers, infrastructure and protocols providers, and startups.
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