The automotive blockchain market is expected to register a CAGR of 29.58% during 2023–2031. The evolution of connected vehicles and rising trend of autonomous driving are likely to remain a key trend in the market.
The growing number of cyberattacks such as phishing and malware on connected vehicles is driving the use of automotive blockchain around the world for better security. In addition, the acceptance of AVs (autonomous vehicles) among people due to its numerous benefits is driving the automotive blockchain market. This can be attributed to the increasing demand for automation, surging urbanization and rising income level. Furthermore, the increasing number of car sharing service is also fuelling the demand for automotive blockchain for secure and automated transaction among users.
Automotive blockchain is a technology that leverages the organisational characteristics of the blockchain and combines them with the automotive sector to increase efficiency and transparency of its supply chain. It uses distributed ledger technology to provide secure and transparent transaction tracking for the automotive industry, such as supply chain management, vehicle data recording, and transactions. Automotive blockchain is uniquely suitable to record details and verify the authenticity of transactions and processes including automotive part manufacturing and shipping, history of used automobiles and warranty claims.
Technology has a great effect on the automotive industry, particularly in terms of what customers prefer in the vehicles. In light with the technological revolution in the automotive market, the needs of customers in cars are changing. Customers are more into technological integrated cars in terms of the structure, connectivity and personalization. The demand for blockchain in the automotive is one step towards the technological world. Making mobility more sustainable and efficient has also contributed to the growth of the market The speed of reaching the audit process of data has been made easier by technology without any errors.
The blockchain technology will reduce waste in automotive production, shorten the supply chain, and support new-age technology advancements overall.
Automotive blockchain holds promising demand owing to increase in the demand for data security and transparency tool. Several manufacturers have accelerated their development of vehicle connectivity and autonomous mobility. Relatedly, vehicles are expected to collect more sensitive information such as vehicle performance data and linked passenger data, which will be stored in the vehicles or in the cloud. Automotive blockchain data is stored in a decentralised and encrypted format, it helps to protect sensitive information from cybersecurity attacks and data hacking. This helps manufacturers, to safeguards the data of their vehicles, which further helps with safety and compliance.
Automobile blockchain in consumers uses ride-sharing and autonomous vehicle fleet management services for the helping the vehicle connectivity. Ride-sharing apps provide new mobility services, controlled by smart contracts. The strongest case for blockchain is autonomous vehicles, the technology used for a platform enabling to talk to and send data to autonomous vehicles. Increasing adoption and sale of the connected cars across the globe is driving the market growth during the forecast period.
The automotive blockchain market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies
Key segments that contributed to the derivation of the automotive blockchain market analysis are type, provider, mobility type, application, and end-user.
The regional trends and factors influencing the Automotive Blockchain Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Automotive Blockchain Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ XX million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2025 - 2031) | 29.58% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Automotive Blockchain Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Automotive Blockchain Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The automotive blockchain market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Automotive Blockchain market are listed below:
The “Automotive Blockchain Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The List of Companies
1. Accenture PLC
2. Accubits Technologies
3. Carvertical
4. HCL Technologies Limited
5. Helbiz
6. IBM Corporation
7. Microsoft Corporation
8. NXM Labs Inc.
9. RSK Labs
10. Tech Mahindra Limited
Some of the customization options available based on request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
The leading players operating in the automotive blockchain market are IBM Corporation, Microsoft Corporation, Accenture, carVertical, Helbiz, Tech Mahindra, SHIFTMobility, and BigchainDB.
The evolution of connected vehicles and rising trend of autonomous driving are likely to remain a key trend in the market.
The global automotive blockchain market is expected to grow at a CAGR of 29.58% during the forecast period 2023 - 2031.
Rising in demand for data security and transparency in the connected vehicles.