WESTFORD, Mass., July 8, 2024
/PRNewswire/ -- According to SkyQuest, the global Automotive
Blockchain Market size was valued at USD 643 Million in 2022 and is poised to grow
from USD 848 Million in 2023 to
USD 7727 Million by 2031, at a CAGR
of 31.82% during the forecast period (2024-2031).
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With rising venture capital (VC) financing, new types of
technology providers are expected to come into the market. On the
other hand, it is anticipated that programmable blockchain
technology platform of a new generation will be invented. Moving on
to the prediction duration, we foresee that ICOs,
Cryptocurrencies, and Blockchain-as-a-Service (BaaS)
will drive market growth by providing immutability and transparency
in any transaction held using the decentralized ledger
technology as well as making businesses more efficient via benefits
such as reduced lifetime costs and quick operations. This
automotive solution which utilizes blockchain would securely and
reliably connect end users, Car-sharing firms, with self-driving or
artificially intelligent cars.
Download a detailed overview:
https://www.skyquestt.com/sample-request/automotive-blockchain-market
Automotive Blockchain Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$848 Million
|
Estimated Value by
2031
|
$7727
Million
|
Growth Rate
|
Poised to grow at a
CAGR of 31.82%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Application, Providers
and Mobility Type
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Enhance Experience in
Supply Chain Management
|
Key Market
Opportunities
|
Increasing Crypto
Currency Market Capital
|
Key Market
Drivers
|
Expansion of Automobile
Industries
|
Segments covered in Automotive Blockchain Market are
as follows:
- Application
- Smart Contract, Supply Chain, Financing, Mobility Solutions,
and Others
- Providers
- Middleware Provider, Infrastructure & Protocols Provider,
and Application & Solution Provider
- Mobility Type
- Personal Mobility, Shared Mobility, and Commercial
Mobility
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/automotive-blockchain-market
Reinventing the Automotive Industry with Enhanced
Transparency and Efficiency
By improving transparency, security, and efficiency in a variety
of applications, including supply chain management, car history
tracking, and autonomous vehicle communication, blockchain
technology is completely changing the global automobile industry.
It is crucial for lowering fraud, enhancing data
integrity, and stimulating creativity throughout the automobile
industry.
Implementing blockchain technology into the automotive supply
chain ensures traceability, transparency and trust among
stakeholders through secure recording of transactions and data
exchanges. Blockchain technology is necessary for cutting down on
counterfeit car parts and making logistics more efficient as well
as enabling sharing live information in the global automotive
industry, amongst other things. This improves efficiency and
satisfaction levels on behalf of clients.
Blockchain applications make vehicle sharing, ride-hailing and
autonomous vehicle management that much simpler within automotive
industry mobility solutions. The innovation effectuates lower
prices and grants improved overall experiences in global mobility
through enabling secure transactions, fostering data integrity and
supporting seamless peer-to-peer interactions. Efficiency and trust
between networked mobility providers is promoted by this.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/automotive-blockchain-market
Blockchain's Role in Innovating Ride-Hailing and Autonomous
Vehicle Solutions
Services such as ride-hailing, vehicle sharing, and autonomous
vehicle management are made better by blockchain ensuring reliable
transaction security and smooth interaction. If one needs to
achieve an increase in novelty, reduction in costs with better
consumer satisfaction and utilization of globally linked mobility
solutions, then these elements must be considered.
Blockchain-enabled shared mobility maximises car-sharing
services by guaranteeing safe transactions and open record-keeping.
Adeptly facilitating effective resource utilization; enhances
confidence between users and service providers and lowers operating
expenses. this is an invention essential for making urban travel
more sustainable and accessible hence influencing future global
mobility solutions.
Blockchain technology is fueling the revolution of both
logistics and fleet management through secure transactions,
operational efficiency optimization, and enhanced data transparency
in commercial mobility. It plays a crucial role in reducing costs,
improving supply chain reliability, and meeting regulatory
requirements, thereby transforming commercial transportation
services globally with enhanced trust and accountability.
Venture Capital's Influence, the Rise of Transparent and
Securing Efficient Mobility Solutions
By improving transparency, security, and operational efficiency
across a range of applications like supply chain management,
vehicle history tracking, and mobility solutions like ride-hailing
and autonomous vehicle management, blockchain technology is
revolutionising the global automotive sector. In the car industry
blockchain reduces fraud, improves data integrity and
boosts innovation via safe transactions and transparent
record-keeping. The results it yields vary from fewer fake parts,
shorter supply chains through to improved customer service and
sustainable urban mobility. Venture funding is expected to drive
the development of innovative blockchain solutions, leading to
further breakthroughs that will transform the global vehicle
management, sharing, and operation landscape.
Related Report:
Blockchain Market
Blockchain as a Service Market
Blockchain in Healthcare Market
Cryptocurrency Market
Blockchain In Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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SOURCE SkyQuest Technology