DUBLIN--(BUSINESS WIRE)--Aug 29, 2018--The "Strategic Assessment of Blockchain in Automotive, Focus on Influencing Factors, Industry Trends, and Applications - Analysis and Forecast, 2018-2026" report has been added to ResearchAndMarkets.com's offering.

The global automotive blockchain market revenue is expected to reach $1,575 million by 2026, growing at a robust CAGR of 65.8% 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.

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.

Market Dynamics

Drivers

Elimination of Intermediaries and Cost Savings Transparency & Removal of Risk of Unscrupulous Activity & Security From Cyber Attacks Entry of Leading Financial Institutions

Restraints

Lack of Regulatory Guidelines & Standardization High Energy Requirements of Blockchain Technology with Environmental Implications

Opportunity

Increasing Application of Blockchain in Automotive

Key Topics Covered

Executive Summary

1 Blockchain Overview

2 Market Dynamics

3 Competitive Landscape

4 Industry Analysis

5 Global Automotive Blockchain Market (by Application)

6 Company Profiles

Bigchain DB GmbH ConsenSys Context Labs BV Ethereum Factom Inc. IBM Corp. Mesosphere Inc. Oaken Innovations Productive Edge LLC Project Provenance Ltd. R3 Reply SpA Ripple Labs Inc. XAIN AG

For more information about this report visit https://www.researchandmarkets.com/research/rbg9zp/global_1_57bn?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20180829005374/en/

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KEYWORD:

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT AUTOMOTIVE PROFESSIONAL SERVICES FINANCE OTHER AUTOMOTIVE

SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 08/29/2018 08:12 AM/DISC: 08/29/2018 08:12 AM

http://www.businesswire.com/news/home/20180829005374/en