Research and Markets has announced the addition of a new report. ‘Blockchain Technology Revolutionizing Automotive Industry’ provides an in-depth analysis of the automotive key functional areas such as smart manufacturing, supply chain logistics, retailing and leasing, mobility, connected living, and IoT, that can use blockchain technology. Blockchain is expected to disrupt the automotive industry and create growth opportunities, monetization avenues, and facilitate digital transformation.
Using blockchain will provide transparency, eliminate of third parties, reduce costs, allow micro-payments, enable cryptographic security, and immutability are the key benefits of blockchain solutions. The financial sector is the pioneer in exploring and adopting blockchain solutions for smart transactions; however, healthcare, insurance, networking, and transportation are some of the other sectors focusing on blockchain.
Besides an overview of blockchain technology, platforms and service providers, this study identifies various automotive key functional areas that can be leveraged using blockchain technology and their growth potential. It provides an overview of the blockchain technology across various industry verticals and an analysis of the blockchain penetration rate for the automotive industry. It also identifies the blockchain growth opportunities and companies to action pertaining to the automotive industry.