Blockchain in Automotive Market is expected to grow at an exponential rate, providing exciting solutions for the connected car industry.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.To access/purchase the full report, click the link below:https://industryarc.com/Report/18525/block-chain-in-automotive-market-research-analysis-report.htmlAmericas 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.
Europe is the next leading marketplace, Germany leading the market in the adoption of high-technological-based cars.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.Selected Driving Factors Mentioned in the Full Report:Automotive OEMs mainly employ blockchain technology in financial applications.
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:IBM, Microsoft, Cybercar, Movimento Inc., and Navdy Inc., are the foremost players in the blockchain automotive market.
For example, Ford is teaming up with BMW, Volkswagen, Tesla, Audi, and Volvo, while Google has partnered with BMW, General Motors, Audi, and Volkswagen.Related Reports:A. Blockchain in Banking and Financial Services Markethttps://industryarc.com/Report/18542/blockchain-in-banking-and-financial-services-market.htmlB.
FinTech Markethttps://industryarc.com/Report/18381/fintech-market.htmlThe 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.