Blockchain In Automotive Market
Posted by Venkatesh on August 30th, 2018
According to the new market research report by IndustryARC titled “Blockchain in Automotive Market: By Type (Public, Private, Others); By Application (Manufacturing, Automotive Financing, Automotive Title Transfer, Smart Contracts, Infotainment, Telematics, IoT, Insurance, Fleet Management, Safety and Security and Others); & By Geography – Forecast Period (2018–2023),” the market will be driven by the growing demand for data management as the number of connected cars increase.
Americas to Dominate the Share and Growth in the Blockchain in Automotive Market
Geographically, Americas is the leading market in terms of adoption of blockchain technology in the automotive industry. The U.S. has the highest number of automotive companies that have adopted blockchaintechnology. Europe is the next leading marketplace, Germany leading the market in the adoption of high-technological-based cars. With automobiles becoming largely automatic and more software oriented, the automotive industry is entering a new age of digitization. In our field of vision, this is where the blockchain revolution can be a pivotal enabler of change.
Selected Application Analysis Done in the Full Report:
Blockchain technology is rapidly progressing in the field of research with the potential for diversity and innovation application in automotive industry. Original equipment manufacturers (OEMs) are mapping connected cars, for real time monitoring, auditability, and scalability which are the key factors favoring blockchain technology market. Autonomous connected cars, vehicles built with cyber security have come together with the cause of organizing into IoT suppliers around the new era of blockchain powered cases. Based on block chain technology, the functional areas that lead in automotive industry are smart manufacturing, connected living, IoT and connected insurances.
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Selected Driving Factors Mentioned in the Full Report
Automotive OEMs mainly employ blockchain technology in financial applications. However, this is expected to extend to serviceable areas such as smart manufacturing and connected cars in the near future.
The collaboration of Renault with Microsoft and VISEO is an advantage for the market. The team has created a prototype for a digital car maintenance book using the Microsoft Azure Blockchain Technology. It enables the saving of ‘‘all vehicular statistics in a streamlined, tamper-proof, and secure digital car maintenance book.’’.
People are concerned about service centres and garages fitting counterfeit spare parts into their vehicle. A Blockchain-based system will help the service centre, or the car manufacturer and the customer to trace the provenance of spare parts in every step of the supply chain, thus reducing the damage to brand reputation.
Key Players of the Blockchain in Automotive Market
The Blockchain in Automotive Market Is Segmented as Indicated Below:
The growing popularity of IoT adoption and data storage services in developed countries will promote the growth of the Blockchain in Automotive Market.
A.Blockchain in Automotive Market – By Type
B.Blockchain in Automotive Market – By Application
6.1 Software-Based Navigation
C.Blockchain in Automotive Market – By Geography (16+ countries)
G. Appendix: Abbreviations, Sources, Research Methodology, Bibliography, Compilation of Experts, Disclaimer.
What can you expect from the report?
The Blockchain in Automotive Market Report is prepared with the main agenda to cover the following 20 points:
1. Market Size by Product CategorY
Does IndustryARC publish country, geography, or application–based reports in Blockchain in Automotive Market?
Does IndustryARC provide customized reports and charge additionally for limited customization?
Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customizations:
1. Increase the level of data in application or end user industry.
Any other major customizations can be discussed with our team. We can also provide you with a separate quote based on your requirements. You can drop an e-mail to email@example.com to learn more about our consulting services.
Mr. Venkat Reddy
IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food & Beverages, Information Technology, and Life Sciences & Healthcare.
IndustryARC primarily focuses on cutting-edge technologies and newer applications in a market. Our custom research services are designed to provide insights on the constant flux in the global supply–demand gap of markets. Our strong team of analysts enables us to meet the client’s research needs at a rapid speed and with a variety of options.
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About the AuthorVenkatesh
Joined: August 23rd, 2018
Articles Posted: 184
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