Impact of Blockchain on the Global Automotive Aftermarket, Forecast to 2025

Impact of Blockchain on the Global Automotive Aftermarket, Forecast to 2025

Parts Authentication Through Digital Twining to Substantially Decrease Seepage of Counterfeit Products in the Supply Chain

RELEASE DATE
26-Feb-2019
REGION
Global
Research Code: 9AB2-00-D4-00-00
SKU: AU01803-GL-MR_22887

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Description

The increasing use of blockchain technology will go hand-in-hand with growing advances in the automotive industry, especially through digitization and automation. Key trends such as parts authentication, asset tracking, modern logistics systems, and proliferation of financial technology (fintech) influencing the automotive industry are expected to drive the adoption of blockchain technology in the aftermarket industry.

Some of the key advantages of using blockchain in the aftermarket are added transparency on ownership, price, and smart contracts. It is expected to accelerate payments through eWallets, enhance security through transparent blocks, and eliminate fraud along with eliminating middlemen, reducing paperwork, and streamlining the supply chain. Blockchain’s impact on the aftermarket is expected to gradually increase in the coming years, especially after 2020. It is, however, largely dependent on the level of automation and proliferation of technology in the industry mandating support for these advances.

Blockchain will radically simplify and accelerate the business operations of all key stakeholders involved in the aftermarket – such as suppliers, distributors, buying groups, retailers, garages, and eventually consumers. Shared mobility and fleets are expected to benefit considerably through blockchain solutions that allow for efficiency, security, and time and cost reductions across various areas such as leasing, insurance, service and maintenance, refueling, parking, freight brokering, and cargo safety. The vehicle purchasing process for fleets using blockchain brings all the relevant stakeholders onto a common platform, enabling them to share and view information in real time.

Investing in blockchain is expected to ease fleet operations by improving overall operational efficiency and reducing costs. Suppliers will benefit from being on the same blockchain platform as OEMs and end customers. This is expected to reduce the cost and time for spare parts and warranty issues as well as hasten recalls, all enabled through smart contracts.


Research Highlights

This research report covers the following segments: passenger vehicles and light trucks. The report also focuses on the impact of blockchain on three key segments influencing the aftermarket: 1. Impact on aftermarket upstream and downstream (suppliers, distributors, supply chain & logistics, parts retail), 2. Impact on Future Mobility (telematics, prognostics, EVs, and shared mobility), and 3. Impact on Affiliated Technologies (fintech).

Key Issues Addressed

  • Who are the various stakeholders in the automotive segment disrupted by blockchain technology?
  • How can the blockchain technology revolutionize the automotive aftermarket?
  • What are the various use cases that blockchain technology can support in the aftermarket?
  • Who are the key participants involved, and what is the future outlook for blockchain technology in the aftermarket?

 

 

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
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Table of Contents

Key Findings—Impact of Blockchain on the Automotive Industry

Blockchain Use Case by Industry Vertical and Application Use Case in Automotive Aftermarket

Summary—Key Companies in the Automotive Blockchain Ecosystem

Key Companies Across Segments Likely to Impact Aftermarket

Research Scope

Research Aims and Objectives

Key Questions this Study will Answer

Research Background

Research Methodology

Vehicle Segmentation

Blockchain Terminology

Definition of Key Terms

Definition of Key Terms (continued)

Blockchain Definition and Properties

Overview of Transaction Flow

Overview of Smart Contracts

Impact of Blockchain on the Auto Ancillary Service Aftermarket

Impact of OEM—OES Activity in the Blockchain Ecosystem

Key Impact Areas in the Automotive Ecosystem

Key Automotive Aftermarket Segments Impacted by Blockchain

Overview—Impact of Blockchain on the Automotive Aftermarket

Aftermarket Upstream—Suppliers, Distributors, Supply Chain, and Logistics

Aftermarket Downstream—Part Sales (Physical and Online)

Enabling Prognostics Through Telematics

Enabling Aftermarket EV Infrastructure and Component Usage

Enabling Shared Mobility and Fleet Management Through Asset Management

Enabling Transparent Financing and Usage-based Insurance

Growth Opportunities—Disruptive Applications and Future Success

Strategic Imperatives for Success and Growth

Impact Summary

The Last Word—3 Big Predictions

Legal Disclaimer

Case Study—CarBlock

Case Study—Bosch

Case Study—Renault CAR PASSPORT

Case Study—ZF Friedrichshafen AG

Abbreviations and Acronyms Used

List of Exhibits

List of Exhibits (continued)

The Frost & Sullivan Story

Value Proposition—Future of Your Company & Career

Global Perspective

Industry Convergence

360º Research Perspective

Implementation Excellence

Our Blue Ocean Strategy

Related Research
The increasing use of blockchain technology will go hand-in-hand with growing advances in the automotive industry, especially through digitization and automation. Key trends such as parts authentication, asset tracking, modern logistics systems, and proliferation of financial technology (fintech) influencing the automotive industry are expected to drive the adoption of blockchain technology in the aftermarket industry. Some of the key advantages of using blockchain in the aftermarket are added transparency on ownership, price, and smart contracts. It is expected to accelerate payments through eWallets, enhance security through transparent blocks, and eliminate fraud along with eliminating middlemen, reducing paperwork, and streamlining the supply chain. Blockchain’s impact on the aftermarket is expected to gradually increase in the coming years, especially after 2020. It is, however, largely dependent on the level of automation and proliferation of technology in the industry mandating support for these advances. Blockchain will radically simplify and accelerate the business operations of all key stakeholders involved in the aftermarket – such as suppliers, distributors, buying groups, retailers, garages, and eventually consumers. Shared mobility and fleets are expected to benefit considerably through blockchain solutions that allow for efficiency, security, and time and cost reductions across various areas such as leasing, insurance, service and maintenance, refueling, parking, freight brokering, and cargo safety. The vehicle purchasing process for fleets using blockchain brings all the relevant stakeholders onto a common platform, enabling them to share and view information in real time. Investing in blockchain is expected to ease fleet operations by improving overall operational efficiency and reducing costs. Suppliers will benefit from being on the same blockchain platform as OEMs and end customers. This is expected to reduce the cost and time for spare parts and warranty issues as well as hasten recalls, all enabled through smart contracts.--BEGIN PROMO--

Research Highlights

This research report covers the following segments: passenger vehicles and light trucks. The report also focuses on the impact of blockchain on three key segments influencing the aftermarket: 1. Impact on aftermarket upstream and downstream (suppliers, distributors, supply chain & logistics, parts retail), 2. Impact on Future Mobility (telematics, prognostics, EVs, and shared mobility), and 3. Impact on Affiliated Technologies (fintech).

Key Issues Addressed

  • Who are the various stakeholders in the automotive segment disrupted by blockchain technology?
  • How can the blockchain technology revolutionize the automotive aftermarket?
  • What are the various use cases that blockchain technology can support in the aftermarket?
  • Who are the key participants involved, and what is the future outlook for blockchain technology in the aftermarket?

 

 

More Information
No Index No
Podcast No
Author Benson Augustine
Industries Automotive
WIP Number 9AB2-00-D4-00-00
Is Prebook No
GPS Codes 9800-A6,9B01-A6,9801-A6,9A70-A6,9694,9832-A6,9AF6-A6,9B07-C1