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Blockchain Transforming the Automotive Sector
30-Dec-2018
Global
Technology Research
D89A-01-00-00-00
IT03791-GL-TR_22759
The rising demand for faster and more secure transactions along with full transparency has made Blockchain one of the fastest growing technology markets in the world. Banks and technology providers are investing heavily in R&D activity related to verifying and recording finance transactions. Also, major US technology companies such as IBM, Microsoft, and startup innovators are developing Blockchain-based services and applications, thereby driving the global Blockchain market.
Blockchain technology is positioned to meet the increasingly complex demands of the digital-first future through smart contract capabilities, middlemen elimination and provenance and consensus on all transactions. Blockchain greatly reduces transaction costs by eliminating middlemen along the supply chain. This is a key factor that will drive the adoption of this technology across all industries. Blockchain is capable of resolving issues prevalent across industry sectors by introducing Blockchain-based micro payments and contract pricing models, thereby eliminating the transaction cost.
In brief, this research service covers the following points:
Blockchain– An overview
Drivers and challenges for Blockchain adoption
Blockchain-based automotive applications
Use cases in the Auto Sector
Patent and Implementation Scenarios
1.1 Research Scope
1.2 Research Methodology
1.3 Research Methodology Explained
1.4 Key Findings
2.1 Increasing Investments and Service Delivery Models are the Key Trends Driving Adoption of Blockchain
2.2 Companies are Increasingly Exploring Private or Consortium Blockchain Solutions as compared to Public Blockchains
2.3 Efficiency Forms the Main Criteria for Selecting Blockchain Formats
3.1 Blockchain Faces Key Challenges that Include Lack of Initial Knowledge and Skillsets as well as Regulatory Uncertainty
4.1 Blockchain Can be Applied to Solve Existing Business Challenges across Industrial Sectors
4.2 Blockchain will Have a Cascading Effect on the Automotive Ecosystem from Customers to OEMs to Suppliers
4.3 Blockchainhas the Potential to Completely Transform the Auto Industry across the Entire Value Chain
4.4 Blockchain Platforms could Open New Monetization Avenues and Facilitate Digital Transformation for Industry 4.0
4.5 Blockchain is capable of Providing Several Operational Benefits across Supply Chain Processes
4.6 Retailing and Leasing is One of the Key Automotive Functional Areas Implementing Blockchain Applications
5.1 Autonomous Vehicles will Act as Digital Operators for Authorizing Payment Transactions in the Future
5.2 Partnerships and Alliances will Foster the Blockchain Application Development Ecosystem
5.3 Blockchain has been Implemented in certain Pilot Projects for Ride Sharing and Wallet Services
6.1Tech Start-ups in Collaboration with Large Participants such as Microsoft, IBM, and Intel will Boost Blockchain Adoption
6.2 Large Businesses and Corporates are Experimenting with Blockchain Technology as much as Startups
7.1 Companies across Globe have been Building their Intellectual Property (IP) Portfolio to Gain the Competitive Edge
7.2 OEMs are Exploring Newer Technological Methods and Driving Research Efforts for Developing Blockchain Infrastructure
7.3 Consortiums are Striving for Commercialization of Blockchain Solutions
8.1 Strategic Collaborations Will be Key for Blockchain Implementations
8.2 Blockchain to Enable New Revenue Streams for Automakers in the Sharing Economy
9.1 Key Contacts
9.1 Key Contacts (continued)
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| Deliverable Type | Technology Research |
|---|---|
| No Index | No |
| Podcast | No |
| Author | Dhiraj Pramod Badgujar |
| Industries | Information Technology |
| WIP Number | D89A-01-00-00-00 |
| Is Prebook | No |
Redefining the Future of Mobility with Blockchain
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