Automotive Blockchain Technology Market size to cross USD 3.77 Billion by 2034

Selbyville, DE. - The global automotive blockchain technology market was estimated at USD 300 million in 2024. The market is expected to grow from USD 380 million in 2025 to USD 3.77 billion in 2034, at a CAGR of 29%, according to latest report published by Global Market Insights Inc.  

As vehicles become increasingly connected and software-driven, automakers are facing growing concerns around data integrity, cybersecurity, and real-time communication. Blockchain offers a decentralized, tamper-proof system to securely track and verify data across a vehicle’s lifecycle from manufacturing and parts sourcing to software updates and ownership transfers.  

Market Size & Growth:

• 2024 Market Size: USD 300 million
• 2025 Market Size: USD 380 million
• 2034 Forecast Market Size: USD 3.77 billion
• CAGR (2025–2034): 29%  

Regional Insights:

• Largest Market: North America
• Fastest Growing Market: Asia Pacific
• Emerging Countries: India, Philippines, Indonesia, Brazil, Saudi Arabia, UAE  

Key Growth Drivers:

1 Surge in electric vehicle (EV) adoption: The rise of EVs is fueling demand for better traceability of batteries, charging activity, and energy usage.  

2 Growing use of smart contracts for mobility services: Automotive companies are increasingly implementing smart contracts to automate and streamline vehicle leasing, insurance claims, peer-to-peer car rentals, and ridesharing transactions.  

3 Rising emphasis on supply chain transparency: Automotive supply chains are complex, global, and vulnerable to counterfeiting and inefficiencies. Blockchain enables end-to-end tracking of vehicle components, authenticating origin, condition, and movement.  

4 Need for secure Over-the-Air (OTA) updates: With software-defined vehicles becoming the norm, manufacturers deliver frequent, secure firmware and software updates.  

5 Government and regulatory support for blockchain adoption: Governments across the U.S., Europe, and Asia are investing in blockchain research and encouraging its use in automotive applications such as digital vehicle titles, emissions tracking, and smart city mobility projects.  

Key Players:

• IBM led the market with over 14% market share.  
• Some of the top players in the market are Tech Mahindra, IBM, Amazon, Accenture, Microsoft, which together held 42% share in 2024.  

Browse key industry insights spread across 230 pages with 170 market data tables and figures from the report, “Automotive Blockchain Technology Market Size - By Type, By Component, By Vehicle, By Organization Size, By Application, By End Use, Growth Forecast, 2025 - 2034” in detail, along with the table of contents:

https://www.gminsights.com/industry-analysis/automotive-blockchain-technology-market  

Key Challenges:

Integration complexity with legacy systems: Many automotive companies still rely on traditional IT infrastructure. Integrating blockchain solutions into existing enterprise resource planning (ERP), supply chain, and telematics systems requires significant time, technical expertise, and budget often slowing adoption.  

Lack of industry wide standards and interoperability: The absence of uniform standards for blockchain implementation across OEMs, suppliers, and tech providers creates data silos and limits collaboration.  

Scalability and performance concerns: Blockchain networks, especially public or hybrid models, can struggle with high transaction volumes, latency issues, and energy consumption.  

High initial investment and uncertain ROI: Implementing blockchain requires upfront costs for infrastructure, training, and integration. Since many use cases are still in pilot stages, automakers may be hesitant to invest heavily without guaranteed short-term returns or proven scalability.  

Regulatory and legal ambiguity: The legal framework surrounding blockchain especially around data privacy (e.g., GDPR), smart contracts, and digital identities, is still evolving.  

Increasing Prevalence of Public Blockchain

The public blockchain segment is expected to gain strong traction through 2034 driven by its unmatched transparency and decentralized structure. Public blockchains allow multiple stakeholders including automakers, regulators, suppliers, and end-users to access and verify data in real-time, without relying on a central authority. This model is particularly useful for vehicle history tracking, ownership records, and shared mobility applications.  

Rising Adoption of Solutions

The solutions segment from the automotive blockchain technology market held sizeable share in 2024. Automakers and fleet operators are increasingly investing in end-to-end blockchain platforms that offer a complete suite of services from smart contract execution to supply chain management and data authentication. These solutions reduce operational overhead, enhance transparency, and help companies to future-proof their digital infrastructure.  

Passenger Cars to Gain Traction

The passenger cars segment held substantial share in 2024, owing to the rapid integration of digital technologies in modern vehicles. As consumers demand smarter, safer, and more connected driving experiences, automakers are leveraging blockchain to secure over-the-air (OTA) updates, manage vehicle identity, and enable data monetization models. From ride-hailing to subscription models, blockchain ensures that every transaction and data point tied to a car is secure and traceable.  

Regional Insights

North America to Emerge as a Lucrative Market

North America automotive blockchain technology market generated significant revenues in 2024, driven by a robust digital infrastructure, high R&D spending, and strong industry partnerships. U.S. based OEMs and technology giants are leading the charge with pilot projects in digital vehicle titles, EV battery tracking, and autonomous vehicle data verification. The region also benefits from regulatory openness to blockchain innovation, allowing automotive companies to scale new solutions with fewer barriers.  

Major players incolved in the automotive blockchain technology market include MOBI, Amazon, SAP SE, Tech Mahindra Limited, IBM Corporation, BigchainDB GmbH, Microsoft Corporation, Oracle Corporation, R3, Accenture plc.  

Leading players in the automotive blockchain technology market are pursuing strategic collaborations, pilot programs, and product innovation to strengthen their market position. Companies are offering blockchain-as-a-service (BaaS) platforms to automotive OEMs, enabling faster and more secure deployment. Firms such as R3 and BigchainDB are focusing on developing customizable blockchain protocols tailored for supply chain, data security, and smart contract applications. Meanwhile, MOBI, a consortium of automakers and tech firms, is building industry-wide standards to promote interoperability.