Programmable Platforms Push Valuation to $7.722 Million by 2031 | SkyQuest Technology

WESTFORD, Mass., July 8, 2024 /PRNewswire/ — According to SkyQuest, the global system Automotive Blockchain Market Its size has been estimated at USD 643 million in 2022 and is expected to grow from USD 848 million in 2023 to USD 7,727 million by 2031, with a CAGR of 31.82% during the forecast period (2024-2031).

With the increase in venture capital (VC) funding, new types of technology providers are expected to enter the market. On the other hand, a next-generation programmable blockchain technology platform is expected to be invented. Moving on to the forecast duration, we expect ICOs, cryptocurrencies, and Blockchain-as-a-Service (BaaS) to drive the market growth by providing immutability and transparency in any transaction held using decentralized ledger technology, as well as making businesses more efficient through benefits such as reduced lifecycle costs and fast operations. This automotive solution using blockchain would securely and reliably connect end-users, car-sharing companies, with self-driving cars or AI-powered cars.

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Automotive Blockchain Market Overview:

Segments covered in The automotive blockchain market is as follows:

• Application
  • Smart contract, supply chain, financing, mobility solutions and more
• Providers
  • Middleware provider, infrastructure and protocol provider, and application and solution provider
• Type of mobility
  • Personal mobility, shared mobility and commercial mobility

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Reinventing the automotive industry with greater transparency and efficiency

By improving transparency, security, and efficiency in a variety of applications, including supply chain management, vehicle history tracking, and autonomous vehicle communication, blockchain technology is fundamentally changing the global automotive industry. It is critical to reducing fraud, improving data integrity, and sparking creativity across the automotive industry.

Implementing blockchain technology in the automotive supply chain ensures traceability, transparency, and trust between stakeholders by securely recording transactions and data exchanges. Blockchain technology is needed to reduce counterfeit spare parts and make logistics more efficient, as well as enable real-time information sharing in the global automotive industry, among other things. This improves efficiency and satisfaction levels on behalf of customers.

Blockchain applications dramatically simplify vehicle sharing, ride-hailing, and autonomous vehicle management within automotive mobility solutions. The innovation drives lower prices and better overall experiences in global mobility by enabling secure transactions, promoting data integrity, and supporting seamless peer-to-peer interactions. This promotes efficiency and trust among networked mobility providers.

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The Role of Blockchain in Innovating Ride-Hailing and Autonomous Vehicle Solutions

Services such as ride-hailing, vehicle sharing, and autonomous vehicle management are enhanced by blockchain, which ensures reliable transaction security and seamless interaction. If you need to achieve increased novelty, reduced costs with improved consumer satisfaction, and the use of globally connected mobility solutions, then these elements must be taken into consideration.

Blockchain-enabled shared mobility maximizes car sharing services by ensuring secure transactions and open record keeping. By cleverly facilitating the effective utilization of resources; it increases trust between users and service providers and reduces operational expenses. This is a key invention to make urban travel more sustainable and accessible, thus influencing future global mobility solutions.

Blockchain technology is fueling the revolution in both logistics and fleet management through secure transactions, optimized operational efficiency, and increased data transparency in commercial mobility. It plays a crucial role in reducing costs, improving supply chain reliability, and meeting regulatory requirements, thereby transforming commercial transportation services globally with greater trust and accountability.

The influence of venture capital, the rise of transparent and efficient mobility solutions

By improving transparency, security and operational efficiency across a range of applications such as supply chain management, vehicle history tracking and mobility solutions such as ride-hailing and autonomous vehicle management, blockchain technology is revolutionizing the global automotive industry. In the automotive industry, blockchain reduces fraud, improves data integrity and drives innovation through secure transactions and transparent record keeping. Its outcomes range from fewer counterfeit parts, shorter supply chains to improved customer service and sustainable urban mobility. Venture funding is expected to drive the development of innovative blockchain solutions, leading to further innovations that will transform the global landscape of vehicle management, sharing and operations.

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Who we are:

SkyQuest is an intellectual property focused research and investment bank and technology and asset accelerator. We provide access to technologies, markets and finance across all sectors, namely Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.

We work closely with innovators, inventors, innovation researchers, entrepreneurs, corporations and investors to leverage external sources of R&D. We also help them optimize the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach in North America, Europe, ASEAN and Asia Pacific.

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Mr. Jagraj Singh
SkyQuest Technology
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Massachusetts 01886
United States of America (+1) 351-333-4748
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SOURCE SkyQuest Technology

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