The technological innovations, such as electric & hybrid vehicles, advanced driver assistance systems & self-driving technologies, connected vehicles, and disruptive trends, such as ride-hailing, car sharing, and in-car payments, are expected to change the way people use mobility services. To lead this technological disruption, the automotive stakeholders need to adopt innovative strategies and redefine their business models. The automotive market needs to be more integrated, connected, and capable of providing on-demand and personalized services with the highest level of safety and convenience. The myriad number of benefits associated with the blockchain technology, such as near real-time exchange of data, transparency, reliability & security, and immutability, among others, has made it a top contender to disrupt the automotive supply chain.
The automotive blockchain market is estimated to witness robust growth during the period 2018-2026. The report is a compilation of various segmentations including a market breakdown by application type of the blockchain technology. The report deals with the market size of the automotive blockchain with respect to different types of applications including automotive manufacturing, automotive supply-chain, automotive safety & security, automotive finance, payments, and insurance services, and others (infotainment, ridesharing, and fleet management) in terms of revenue. While highlighting the key driving and restraining forces for this market, the report also provides a detailed study of the different regulatory landscape influencing the automotive blockchain ecosystem and investment & funding scenarios within the blockchain market.
The report answers the following questions about the global automotive blockchain market:
• What is the expected global automotive blockchain market size in terms of revenue during period 2018-2026?
• Which are the dominant application segment of the blockchain technology in the automotive domain?
• What is the revenue generated by the different types of the application within the automotive blockchain market?
• What will be the different factors driving the market during the forecast period?
• What are the major factors challenging the growth of the global automotive blockchain market?
• What kinds of new strategies are being adopted by the existing market players to make a mark in the industry?
• What are the existing governmental regulations and mandates influencing the adoption of blockchain technology within the automotive segment?
• What are the funding scenarios among the start-ups within the automotive blockchain ecosystem?
• What kind of new strategies are being adopted by the existing market players to make a mark in the industry?
The market report includes a thorough analysis of the market trends and size, along with market estimation based on the major application segment. The report also includes detailed financial analysis of the key players in the market, including SWOT analysis of each company. Some of the key players in the automotive blockchain market include Ripple Labs Inc., Ethereum, BigChain DB, Factom Inc., IBM Corporation, Mesosphere Inc., Reply SpA, R3, and Oaken Innovations.
1 Blockchain Overview
1.1 Blockchain Technology Overview
1.1.1 Proof-of-Work (PoW)
1.1.2 Proof-of-Stake (PoS)
1.2 Blockchain Structure
1.2.1 Foundational Elements of Blockchain
1.3 Types of Blockchain
1.3.1 Public Blockchain
1.3.2 Private Blockchain
1.3.3 Hybrid Blockchain
1.4 Automotive Blockchain Ecosystem
1.5 Role of Blockchain in Automotive Industry
1.5.1 Identity and Authentication
1.5.3 Smart Contracts
1.5.4 Internet of Things (IoT)
2 Market Dynamics
2.2 Market Drivers
2.2.1 Elimination of Intermediaries and Cost Savings
2.2.2 Transparency and Removal of Risk of Unscrupulous Activity and Security from Cyber Attacks
2.2.3 Entry of Leading Financial Institutions
2.3 Market Restraints
2.3.1 Lack of Regulatory Guidelines and Standardization
2.3.2 High energy requirements of Blockchain technology with environmental implications
2.4.1 Increasing Application of Blockchain In Automotive
3 Competitive Landscape
3.2 Key Strategies and Developments
3.2.1 Product Launches
3.2.2 Partnerships and Collaborations
3.2.3 Funding and Contract
4 Industry Analysis
4.2 Automotive Blockchain Consortiums and Associations
4.3 Regulatory Landscape in the Blockchain Ecosystem
4.4 Blockchain Used Cases in Automotive Industry
4.5 Funding Scenarios in Automotive Blockchain Ecosystem
5 Global Automotive Blockchain Market (by Application)
5.1 Assumptions and Limitations
5.2 Market Overview
5.3 Automotive Manufacturing
5.4 Automotive Supply Chain
5.5 Automotive Safety and Security
5.6 Automotive Finance, Payments and Insurance Services
5.8 Future Outlook and Strategic Recommendations
6 Company Profiles
6.2 Bigchain DB GmbH
6.2.1 Company Overview
6.2.2 Corporate Summary
6.2.3 Product Offerings
6.2.4 SWOT Analysis
6.3.1 Company Overview
6.3.2 Corporate Summary
6.3.3 Service Offerings
6.3.4 SWOT Analysis
6.4 Context Labs BV
6.4.1 Company Overview
6.4.2 Corporate Summary
6.4.3 Product Offerings
6.4.4 SWOT Analysis
6.5.1 Company Overview
6.5.2 Corporate Summary
6.5.3 Product Offerings
6.5.4 SWOT Analysis
6.6 Factom Inc.
6.6.1 Company Overview
6.6.2 Corporate Summary
6.6.3 Product Offerings
6.6.4 SWOT Analysis
6.7 IBM Corp.
6.7.1 Company Overview
6.7.2 Corporate Summary
6.7.3 Product Offerings
6.7.4 Financial Overview
6.7.5 Financial Summary
6.7.6 SWOT Analysis
6.8 Mesosphere Inc.
6.8.1 Company Overview
6.8.2 Corporate Summary
6.8.3 Product Offerings
6.8.4 SWOT Analysis
6.9 Oaken Innovations
6.9.1 Company Overview
6.9.2 Corporate Summary
6.9.3 Product Offerings
6.9.4 SWOT Analysis
6.10 Productive Edge LLC.
6.10.1 Company Overview
6.10.2 Corporate Summary
6.10.3 Solution Offerings
6.10.4 SWOT Analysis
6.11 Project Provenance Ltd.
6.11.1 Company Overview
6.11.2 Corporate Summary
6.11.3 Product Offering
6.11.4 Swot Analysis
6.12.1 Company Overview
6.12.2 Corporate Summary
6.12.3 Product Offering
6.12.4 SWOT Analysis
6.13 Reply SpA
6.13.1 Company Overview
6.13.2 Corporate Summary
6.13.3 Product Offerings
6.13.4 Financial Overview
6.13.5 Financial Summary
6.13.6 SWOT Analysis
6.14 Ripple Labs Inc.
6.14.1 Company Overview
6.14.2 Corporate Summary
6.14.3 Product Offerings
6.14.4 SWOT Analysis
6.15 XAIN AG
6.15.1 Company Overview
6.15.2 Corporate Summary
6.15.3 Product Portfolio
6.15.4 SWOT Analysis
7 Report Scope & Methodology
7.1 Scope of the Report
7.2 Automotive Blockchain Market Research Methodology
List of Tables
Table 2.1 Financial Institutions and Blockchain Ventures
Table 2.2 Blockchain Technology Opportunities
Table 3.1 Product Launches 2015-2018 (May 2018)
Table 3.2 Partnerships & Collaborations
Table 3.3 Funding & Contracts
Table 3.4 Business Expansion
Table 4.1 Other Blockchain and Cryptocurrency Consortiums and Associations
List of Figures
Figure 1 Blockchain Overview
Figure 2 Global Automotive Blockchain Market Snapshot, 2017-2026
Figure 3 Global Automotive Blockchain Market (by Application), 2018 (%Share)
Figure 1.1 Difference Between Proof-of-Work and Proof-of-Stake Validation Techniques
Figure 1.2 The Blockchain Structure
Figure 1.3 Public Blockchain
Figure 1.4 Private Blockchain
Figure 1.5 Automotive Blockchain Ecosystem
Figure 1.6 Use Cases of Blockchain
Figure 1.7 Smart Contracts Execution Process
Figure 2.1 Market Drivers – Impact Analysis
Figure 3.1 Key Strategies and Developments (Jan 2015- May 2018)
Figure 4.1 Members of MOBI
Figure 4.2 Some of the Prominent Members of Enterprise Ethereum Alliance
Figure 4.3 Some of the Prominent Members of Hyperledger Project
Figure 4.4 Members of Trusted IoT Alliance
Figure 4.5 Members of R3 Consortium
Figure 4.6 Venture Capital Funding in Blockchain Start-ups
Figure 4.7 Most Active Investors in Blockchain Ecosystem
Figure 4.8 Share of Capital Raised by Blockchain Companies
Figure 5.1 Advantages of Blockchain Technology
Figure 5.2 Global Automotive Blockchain Market, 2017-2026
Figure 5.3 Global Automotive Blockchain Market for Manufacturing, 2017-2026
Figure 5.4 Use of Blockchain in Automotive Supply Chain
Figure 5.5 Global Automotive Blockchain Market for Supply Chain, 2017-2026
Figure 5.6 Global Automotive Blockchain Market for Safety and Security Application
Figure 5.7 Automotive Retail Cycle
Figure 5.8 Global Automotive Blockchain Market for Automotive, Finance, Payments, and Insurance Services, 2017-2026
Figure 5.9 Global Automotive Blockchain Market for Others, 2017-2026
Figure 6.1 Share of Key Company Profiles
Figure 6.2 Bigchain DB: Product Offerings
Figure 6.3 Bigchain DB: SWOT Analysis
Figure 6.4 ConsenSys: SWOT Analysis
Figure 6.5 Context Labs BV: Product Offerings
Figure 6.6 Context Labs BV: SWOT Analysis
Figure 6.7 Ethereum: Product Offerings
Figure 6.8 Ethereum: SWOT Analysis
Figure 6.9 Factom Inc.: Product Offerings
Figure 6.10 Factom Inc.: SWOT Analysis
Figure 6.11 IBM Corp: Product Offerings
Figure 6.12 IBM Corp.: Overall Financials 2015-2017
Figure 6.13 IBM Corp.: Business Segment Revenue 2015-2017
Figure 6.14 IBM Corp.: Regional Revenue 2015-2017
Figure 6.15 IBM Corp.: R&D Investment 2015-2017
Figure 6.16 IBM Corp.: SWOT Analysis
Figure 6.17 Mesosphere Inc.: Product Offerings
Figure 6.18 Mesosphere Inc.: SWOT Analysis
Figure 6.19 Oaken Innovations: SWOT Analysis
Figure 6.20 Productive Edge LLC.: Solution Offerings
Figure 6.21 Productive Edge LLC: SWOT Analysis
Figure 6.22 Project Provenance Ltd.: SWOT Analysis
Figure 6.23 R3: SWOT Analysis
Figure 6.24 Reply SpA: Product Offerings
Figure 6.25 Reply SpA: Overall Financials 2015-2017
Figure 6.26 Reply SpA: Business Segment Financials 2015-2017
Figure 6.27 Reply SpA: Regional Financials 2015-2017
Figure 6.28 Reply SpA: Revenue Share for Industry Verticals, 2017
Figure 6.29 Reply SpA: SWOT Analysis
Figure 6.30 Ripple labs Inc.: Product Offerings
Figure 6.31 Ripple Labs Inc.: SWOT Analysis
Figure 6.32 XAIN AG: Product Portfolio
Figure 6.33 XAIN AG: SWOT Analysis
Figure 7.1 Automotive Blockchain Market Scope
Figure 7.2 Report Design
Figure 7.3 Top-Down Approach
Figure 7.4 Automotive Blockchain Market Influencing Factors
The automotive industry is undergoing a massive technological disruption on multiple fronts since last decade. The introduction and subsequent growth in sales of electric & hybrid vehicles, the development of advanced driver assistance systems & self-driving technologies, increasing demand for connected vehicles, and disruptive trends, such as ride-hailing, car sharing, and in-car payments, are expected to change the way people use mobility services. The future automotive industry would be massively different from the industry it is today. In order to lead this technological disruption, the automotive stakeholders need to adopt innovative strategies and redefine their business models. The automotive market needs to be more integrated, connected, and capable of providing on-demand and personalized services with the highest level of safety and convenience. Blockchain technology is one such instrument that has the potential to underpin the upcoming technological transformation and place the automotive stakeholders at a position from where they can adapt to this paradigm shift.
Blockchain technology is a decentralized distributed ledger that allows information to be recorded, secured, maintained, and shared among the participating members without a governing authority. It presents an innovative approach for managing data and executing transactions with utmost accuracy, safety, and reliability. As the automotive industry is going through the digitalization era, therefore, it has become imperative for automotive stakeholders to be more proactive toward the implementation of disruptive technologies within their business processes. Blockchain technology is certainly going to be a highly integral part of the connected mobility and smart infrastructure ecosystem.
The myriad number of benefits associated with the blockchain technology, such as near real-time exchange of data, transparency, reliability & security, and immutability, among others, has made it a top contender to disrupt the automotive supply chain. By augmenting distributed ledger technology with automation, a plethora of application cases can be realized whose impact spans over the whole supply-chain. The immense application potential of this technology opens up plenty of opportunities which can transform products, services, and processes across the automotive industry.
The report defines and estimates the market size and future growth potential of the automotive blockchain market during the period 2018-2026. The global automotive blockchain market revenue is expected to reach $1,575.0 million by 2026, growing at a robust CAGR of 65.80% in the period 2018-2026. The growing popularity of blockchain technology, owing to its numerous benefits including immutability, reliability, and scalability, among others, along with the high application potential of blockchain technology is expected to fuel the market growth during the forecast period.
The following figure is a snapshot of the global automotive blockchain market from 2018 to 2026:
Figure 1 Global Automotive Blockchain Market Snapshot
Source: Secondary Research, Expert Interviews, and BIS Research Analysis
Blockchain technology holds massive application potential in the automotive industry. As a consequence of the multitude of benefits, the blockchain technology can disrupt the entire automotive value chain. In terms of application, Automotive Finance, Payments, and Insurance Services (FPIS) accounts for the largest share among all the application segments of the blockchain technology in the automotive domain. However, automotive manufacturing, automotive safety & security, and supply chains are expected to grow robustly during the forecast period, owing to various benefits of the distributed ledger technology.
Top automotive players are already investigating blockchain potential for their business processes and investing heavily in order to conduct trials and to implement pilot projects. The competitive landscape is also witnessing the emergence of various start-ups and early-stage companies leveraging blockchain for automotive specific solutions. These companies are developing databases, platforms, and decentralized applications to facilitate in-vehicle payments, data exchange & storage, insurance claim settlements, supply chain, and logistics, among others.
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