The India automotive
blockchain market is expected to witness a growth of robust CAGR in the
forecast period, FY2023-FY2027.
Increased demand for automotive blockchain technology for logistics
& transportation, insurance, secure transactions, and advantages such as
low operational costs and improved security are expected to be the primary
drivers for India's automotive blockchain market for the next five years.
Blockchain Technology
Enhances Data Security in Automobiles
Blockchain technology stores
the blocks of data, and these blocks are linked with each other using the
cryptography technique. It is considered a safe and secure network as it keeps
the data stored in different blocks. Data is protected against data loss and
leaks as each block used in the process contains the cryptogenic hash of the
previous block and time and transaction details. Authentication is required to
gain access to data stored in blocks of blockchain technology, including secure
communication network and secure blockchain technologies. With the growing
demand for connected vehicles and automation technology in automobiles,
automotive blockchain technology is expected to grow at a significant rate in
the next five years.
Blockchain Technology Improves
Transaction Processes
Automotive blockchain
technology is highly secure and provides enhanced security and real-time
processing, which improves consumers' overall experience. It removes the need
to hire a mediator to look after every transaction and maintain a proper record
for the same. Blockchain technology stores all the information and has a higher
accuracy rate than other technologies. Logistics and transportation information
can be easily maintained by automotive blockchain technology. Growing awareness
about the benefits of adopting blockchain technology along with the
availability of high security securing transactions is expected to bolster the
demand for the Indian automotive blockchain market for the forecast period.
Automotive Blockchain Technology
Optimizes Ownership Costs
Automobile companies used to
hire dedicated persons or third parties to store essential data related to
automobiles.
Automotive blockchain
technology is used to efficiently store and manage the records of the processes
related to automobiles. Operational costs, sales data, and insurance and
warranty claims are essential information that is stored with the help of
automotive blockchain technology. The adoption of blockchain technology by
automobile companies to lower the expenses incurred in maintaining and hiring
employees to complete the work. The need to lower operational costs and make
the process cost-effective is expected to fuel the growth of India automotive
blockchain in the forecast period.
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Market Segmentation
The
India automotive blockchain market is segmented into application, mobility, provider,
end user, regional distribution, and company. Based on application, the market
is divided into manufacturing, supply chain, mobility solutions, financial
services, others. Based on mobility, the market is divided into personal
mobility, shared mobility, and commercial mobility. Based on provider, the
market is divided into application & solution, middleware, and
infrastructure & protocol. Based on end user, the market is divided into OEMs,
vehicle owners, mobility as a service provider, and others. The market is also
studied on the basis of regional distribution and the regions are majorly
divided into North, East, South and West.
Market Players
Microsoft Corporation,
BigchainDB GmbH, IBM Corporation, SHIFTMobility Inc., HCL Technologies, NXM
Labs Inc., Accenture plc, Helbiz, Inc., cV Group UAB, and CarBlock Corp., are
major market players operating in the India automotive blockchain market.
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Attribute
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Details
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Base Year
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FY2021
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Historic Data
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FY2017 – FY2020
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Estimated Year
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FY2022
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Forecast Period
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FY2023 – FY2027
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Quantitative Units
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Revenue in USD Million, and CAGR for FY2017-FY2021 and FY2022-FY2027
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Report coverage
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Revenue forecast, company share, competitive landscape, growth
factors, and trends
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Segments covered
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·
Application
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Mobility
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Provider
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End User
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Region scope
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North, East, West, South
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Key companies profiled
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Microsoft Corporation, BigchainDB GmbH, IBM Corporation, SHIFTMobility
Inc., HCL Technologies, NXM Labs Inc., Accenture plc, Helbiz, Inc., cV Group
UAB, and CarBlock Corp.
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Customization scope
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10% free report customization with purchase. Addition or
alteration to country & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel through Email
(We can also provide the editable version of the report in PPT/Word format on
special request)
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Report Scope:
In this report, India automotive
blockchain market has been segmented into following categories, in addition to
the industry trends which have also been detailed below:
- India Automotive Blockchain Market, By Application:
- Manufacturing
- Supply Chain
- Mobility Solutions
- Financial Services
- Others
- India Automotive Blockchain Market, By Mobility:
- Personal Mobility
- Shared Mobility
- Commercial Mobility
- India Automotive Blockchain Market, By Provider:
- Application & Solution
- Middleware
- Infrastructure & Protocol
- India Automotive Blockchain Market, By End User:
- OEMs
- Vehicle Owners
- Mobility as a Service Provider
- Others
- India Automotive
Blockchain Market, By Region:
o North
o East
o South
o West
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in India automotive blockchain market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
India automotive blockchain market is
an upcoming report to be released soon. If you wish an early delivery of this
report or want to confirm the date of release, please contact us at [email protected]