What is the present valuation and projected CAGR of the automotive blockchain market?
The automotive blockchain market size has grown exponentially in recent years. It will grow from $0.57 billion in 2024 to $0.7 billion in 2025 at a compound annual growth rate (CAGR) of 22.8%. The growth in the historic period can be attributed to increasing mobility services, increasing use of ride-sharing and car-sharing services, increasing focus on reducing data leaks and manipulations, the need for standardized and safe transactions, and reduced total cost of ownership.
The automotive blockchain market size is expected to see exponential growth in the next few years. It will grow to $1.57 billion in 2029 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to increasing vehicle production processes, supply chain problems to increase efficiency, helping to cut costs and improve transparency level, the extensive use of blockchain technology, transparent and tamper-proof record. Major trends in the forecast period include integration with existing systems, higher adoption of automotive blockchain for payments, integration and adoption of blockchain solutions, and increasing cryptocurrency market capital.
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What key drivers have fueled the automotive blockchain market’s development over the years?
The increasing vehicle production processes are expected to propel the growth of the automotive blockchain market going forward. The demand for automotive blockchain arises from the need to enhance supply chain transparency, quality assurance, fraud prevention, data security in vehicle production, driving efficiency, and trust across the automotive ecosystem. Vehicle production uses automotive blockchain to improve supply chain transparency, quality control, and fraud prevention while enabling automated processes and secure data sharing among stakeholders, ultimately improving efficiency and trust in vehicle productionFor instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based lobbying and standards group of the automobile industry, in 2022, global motor vehicle production reached 85.4 million units, marking a 5.7% increase from 2021. Therefore, the increasing vehicle production processes are driving growth in the automotive blockchain market.
What is the segmentation for the automotive blockchain market?
The automotive blockchain market covered in this report is segmented –
1) By Provider: Application And Solution, Middleware, Infrastructure And Protocol
2) By Mobility: Personal Mobility, Shared Mobility, Commercial Mobility
3) By Application: Supply Chain, Smart Contracts, Mobility Solutions, Financing
4) By End User: Original Equipment Manufacturer (OEMs), Vehicle Owners, Mobility As A Service Provider, Other End Users
Subsegments:
1) By Application And Solution: Supply Chain And Logistics Solutions, Vehicle Identity And Ownership Tracking, In-Vehicle Payments And Microtransactions, Autonomous Vehicle Data Sharing And Management, Warranty And Insurance Management Solutions, Blockchain-Based Mobility As A Service Platforms
2) By Middleware: Blockchain Apis For Automotive Applications, Smart Contract Development And Management, Blockchain Integration Tools For Vehicle Ecosystems, Data Privacy And Security Middleware Solutions, Blockchain Oracles For External Data Integration
3) By Infrastructure And Protocol: Distributed Ledger Technology Platforms, Peer-To-Peer Network Protocols For Automotive Data, Blockchain Infrastructure For Autonomous Vehicle Communication, Consensus Mechanisms For Automotive Blockchain, Blockchain-As-A-Service For Automotive Industry
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Who are the most influential companies in the automotive blockchain market?
Major companies operating in the automotive blockchain market are Amazon.com Inc., Microsoft Corporation, Dell Inc., Accenture plc, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Hewlett Packard Enterprise Development LP, Salesforce Inc., NEC Corporation, VMware Inc., Red Hat Inc., OpenText Corporation, Rackspace Technology Inc., Lumen Technologies Inc., Zoho Corporation, Epicor Software Corporation, carVertical, BigchainDB GmbH, NXM Labs Inc., ShiftMobility Inc.
What are the top industry trends projected to impact the automotive blockchain market?
Major companies operating in the automotive blockchain market are focusing on developing advanced solutions, such as the integration of artificial intelligence (AI) with high-performance blockchain technology, to gain a competitive edge. This combination enables the system to not only compute and monitor carbon emissions at every stage of the supply chain but also to ensure data transparency and integrity. For instance, in July 2023, Hyundai Motor Company, a South Korea-based automotive manufacturer, and Kia Corporation, a South Korea-based automobile manufacturer, launched an innovative Supplier CO2 Emission Monitoring System (SCEMS), which integrates artificial intelligence (AI) and blockchain technology to effectively monitor and manage carbon emissions throughout their supply chains. This system aims to enhance transparency and data integrity while simplifying the process for suppliers to collect and manage emissions data.
What are the major regional insights for the automotive blockchain market, and which region holds the top position?
North America was the largest region in the automotive blockchain market in 2024. The regions covered in the automotive blockchain market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Automotive Blockchain Market Report 2025 Offer?
The automotive blockchain market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Automotive blockchain is a decentralized digital ledger technology used to secure and transparently record vehicle-related transactions and data across a network in the automotive industry. It ensures the integrity and immutability of information by tracking vehicle history, maintenance records, and supply chain management.
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