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Automotive Blockchain Market Worth $5.29 Billion by 2030 - Exclusive Report by MarketsandMarkets™CHICAGO, October 12, 2018 /PRNewswire/ -- According to the new market research report "Automotive Blockchain Market by Application (Financing, Mobility Solutions, Smart Contract, Supply Chain), Provider (Application & Solution, Middleware, Infrastructure & Protocol), Mobility (Personal, Shared, Commercial) and Region - Global Forecast to 2030", published by MarketsandMarkets™, the Automotive Blockchain Market is projected to grow to USD 5.29 billion by 2030 from USD 0.35 billion in 2020, at a CAGR of 31.19% during the forecast period. Don't miss out on business opportunities in Automotive Blockchain Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalyst.asp?id=150652065 The requirement for decentralized business transactions and increasing blockchain applications in the automotive industry are expected to drive the market for automotive blockchain. Additionally, increasing focus toward data transparency and immutability will be critical for the growth of this market in the coming years. Supply chain to be the largest market, by application, in the Automotive Blockchain Market The automotive blockchain has the ability to streamline supply chain processes significantly, especially regulatory, quality control, and compliance approval related processes. In developing countries, such as China and India, where automotive industry still follows the traditional approach for business transactions, blockchain is expected to play an important role in simplifying the supply chain of the automotive industry. Further, the increasing production and sales of automobiles will require monitoring of the supply chain, which will drive the demand for supply chain applications of the blockchain in the automotive industry. Browse in-depth TOC on "Automotive Blockchain Market" 61 - Tables 38 - Figures 147 - Pages View more detailed TOC @ https://www.marketsandmarkets.com/Market-Reports/automotive-blockchain-market-150652065.html
Americas is estimated to be the leading market for automotive blockchain The automotive and transportation industry forms the backbone of the Americas' economy. The automotive industry in the Americas region is the second largest in the world for premium vehicle sales and production. The market is dominated by domestic OEMs such as the Ford Motor Company (US) and General Motors (US) along with established European and Japanese OEMs. Many companies are testing the use cases of blockchain in various automotive applications to manage such an advanced automotive industry and its connected ecosystem. For instance, the United States' fourth largest mobile network operator Sprint and a blockchain start-up NXM Labs have decided to launch a 5G connected car platform powered by blockchain technology. 54 million US customers of Sprint will use this platform to provide passengers with mobile Wi-Fi and vehicle health monitoring. In May 2018, SHIFTMobility revealed the world's first blockchain-powered platform for the automotive industry. The US also happens to be one of the largest used-vehicles markets in the world, and blockchain applications such as title transfer, insurance, and smart contracts are in demand. Such potential use cases are expected to drive the market for automotive blockchain. The above-mentioned factors, coupled with an increasing demand for transparency and immutability in business operations and the presence of technology players, will drive the growth of the Automotive Blockchain Market in the Americas. Request for Free Sample Report @ https://www.marketsandmarkets.com/requestsample.asp?id=150652065 The companies profiled in the report include IBM (US), Microsoft (US), carVertical (Estonia), Tech Mahindra (India), SHIFTMobility (US), BigchainDB (Germany), RSK Labs (Argentina), NXM Labs (US), XAIN (Germany), and others. Browse Adjacent Markets @ Automotive and Transportation Market Research Reports & Consulting About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. Contact:
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