Global Automotive Blockchain Market is projected to witness 21% CAGR by 2023
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The global blockchain technology is at an early stage of its innovation and major technological operators are still experimenting and exploring its capabilities. Though blockchain has its roots and major presence in the financial sector, the automotive industry is not far behind in implementing blockchain technology for its applications. It is technologically advanced and is characterized by stringent regulations regarding cybersecurity and data theft. Therefore, there is significant potential for blockchain technology as it is expected to speed up the transformation of automobiles towards decentralization. Blockchain technology can enable easier management of trusted information, while enabling access to critical data though maintaining information security. Once information is created in blockchain, it is difficult to change or delete by a single individual as they are verified and managed by automation and shared protocols. Report Sample: https://www.marketresearchfuture.com/sample_request/7735
Market Research Analysis: In terms of region, the global market for the automotive blockchain is segmented into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to hold the largest market share during the forecast period, owing to growing production and sales of electric vehicles in China and Japan. Moreover, the growing development in blockchain technology across the country, leads to the growth of automotive blockchain market. For instance, in March 2017, Chinese conglomerate, Wanxiang Group, known as the country’s biggest makers of automotive parts, launched a new startup accelerator to fund blockchain entrepreneurs. Browse Complete Report Details: https://www.marketresearchfuture.com/reports/automotive-blockchain-market-7735
Scope of the Report: This study provides an overview of the global automotive blockchain market, tracking four market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific, and the Rest of the World. The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global automotive blockchain market by technology type, application, provider, propulsion, vehicle type, and region.
Key Players: The prominent players in the global automotive blockchain market include IBM Corporation (US), Microsoft Corporation (US), BigchainDB GmbH (Germany), carVertical (Estonia), Helbiz (US), ShiftMobility (US), RSK Labs (Argentina), Tech Mahindra (India), HCL Technologies (India), and XAIN (Germany). The major players in this market have adopted the strategies such as geographic expansion, product launch, collaboration, and mergers & acquisitions. The growth of the market vendors is dependent on the market conditions, government support, and industry development. Thus, the vendors should focus on expanding, geographically and improving the services.
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