Blockchain Use Cases and Business Models Transforming the Automotive Industry

Blockchain Use Cases and Business Models Transforming the Automotive Industry

Supply Chain to CASE Will Unwind New Revenue Models by Leveraging Secured Solutions

RELEASE DATE
24-Dec-2020
REGION
North America
Research Code: K59B-01-00-00-00
SKU: AU02106-NA-MT_25115

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Description

The aim of this research study is to give an overview of blockchain solutions, key use cases, and applications adopted in the automotive industry. The study focuses on the strategies that original equipment manufacturers adopt, the business models they use, key vendors, and core features. In the connected, autonomous, shared, and electric (CASE) era, blockchain scalability that does not compromise security is a key challenge preventing its widespread adoption in the automotive industry.

Blockchain-based start-ups and global companies were primarily focusing on proofs of Concept and projects in the financial sector. Frost & Sullivan analysis indicates that blockchain technology will reshape the insurance, automotive, healthcare, and logistics industries with innovative projects by 2025. Technology companies and start-ups focusing on blockchain technology are building the infrastructure to advance the complex implications of the technology: industrial applications, smart cities, data markets, fintech, banking, information privacy, encrypted communications, gaming, and supply chain.

The automotive industry will pilot parts traceability, supply chain visibility, contract management, in-vehicle payments, ownership/identity management, and data monetization blockchain projects by 2022. Considering data monetization, automotive companies should lay down aggressive roadmaps for the development of futuristic data management strategies (including what level of data needs to be collected, how data labeling will happen, and what the level of scaling in future will be) and accordingly set up an ecosystem for storage, processing, and service delivery. Automotive firms can leverage deeper insights from generated data and create compelling use cases for connected and autonomous vehicles. Tokenization will develop new business models across supply chains; rewards, asset maintenance, and data monetization are examples. The ability to reassess and revamp business models and align an organization with a service-oriented model will be a critical success factor.

Author: Sriram Venkatraman

RESEARCH: INFOGRAPHIC

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Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives 8™ on the Automotive Blockchain Industry

Growth Opportunities Fuel the Growth Pipeline Engine™

Definitions of Key Terms

Definitions of Key Terms (continued)

Blockchain Terminology

Blockchain Properties

Key Findings

Blockchain—Industry Adoption vs Revenue Share

Blockchain Investment Analysis

Blockchain Use Cases across Industries

Growth Restraints and Industry Adoption

In-Vehicle Retail Activity

Blockchain’s Role in Automotive Cybersecurity

Automotive Blockchain Ecosystem

OEM Engagements with Blockchain Companies

Token-based Business Model

Automotive Blockchain: Current vs Future

Research Scope

Research Aims and Objectives

Research Methodology

Automotive Blockchain Proofs of Concept

Automotive Blockchain Focus Areas

Automotive Blockchain Use Cases and Companies

Product Identity Using Blockchain

Automotive Blockchain Vehicle Identity Standard

Automotive Blockchain VID

Automotive Tokenization

Futuristic Cryptographic Token-based Ecosystem

Cryptographic Token-based Ecosystem in Transportation

Cryptographic Token-based Ecosystem in Transportation (continued)

Enterprise Solutions Based on VeChain Toolchain

Enterprise Solution Technology Stack

SHIFTMobility Automotive Platform

SHIFTMobility Solutions

Car Wallet Solution to Secure Financial and Data Transactions

Cube Token Usage Plan

OEM Engagements with Blockchain Companies

OEM Engagements with Blockchain Companies (continued)

Toyota’s Blockchain Endeavors

BMW and VeChain Digital Vehicle Passport

MB and Icertis Collaboration: Sustainability

MB and Icertis: Contractual Compliance Dashboard

Blockchain Transformation in Automotive Ecosystem, 2020

Automotive Blockchain: Drivers and Strategic Imperatives

Growth Opportunity 1: Blockchain Solution for Automotive

Growth Opportunity 1: Blockchain Solution for Automotive (continued)

Conclusions and Future Outlook

List of Exhibits

Legal Disclaimer

Related Research
The aim of this research study is to give an overview of blockchain solutions, key use cases, and applications adopted in the automotive industry. The study focuses on the strategies that original equipment manufacturers adopt, the business models they use, key vendors, and core features. In the connected, autonomous, shared, and electric (CASE) era, blockchain scalability that does not compromise security is a key challenge preventing its widespread adoption in the automotive industry. Blockchain-based start-ups and global companies were primarily focusing on proofs of Concept and projects in the financial sector. Frost & Sullivan analysis indicates that blockchain technology will reshape the insurance, automotive, healthcare, and logistics industries with innovative projects by 2025. Technology companies and start-ups focusing on blockchain technology are building the infrastructure to advance the complex implications of the technology: industrial applications, smart cities, data markets, fintech, banking, information privacy, encrypted communications, gaming, and supply chain. The automotive industry will pilot parts traceability, supply chain visibility, contract management, in-vehicle payments, ownership/identity management, and data monetization blockchain projects by 2022. Considering data monetization, automotive companies should lay down aggressive roadmaps for the development of futuristic data management strategies (including what level of data needs to be collected, how data labeling will happen, and what the level of scaling in future will be) and accordingly set up an ecosystem for storage, processing, and service delivery. Automotive firms can leverage deeper insights from generated data and create compelling use cases for connected and autonomous vehicles. Tokenization will develop new business models across supply chains; rewards, asset maintenance, and data monetization are examples. The ability to reassess and revamp business models and align an organization with a service-oriented model will be a critical success factor. Author: Sriram Venkatraman
More Information
No Index No
Podcast No
Author Sriram Venkatraman
Industries Automotive
WIP Number K59B-01-00-00-00
Is Prebook No
GPS Codes 9800-A6,9807-A6,9813-A6,9AF7-A6,9A70-A6,9AF6-A6