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Automotive Blockchain Market Projected to Hit $5.6 Billion by 2030

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The automotive blockchain industry is likely to flourish most in North America, according to an Allied Market Research report.
The automotive blockchain market is projected to reach USD 5.6 billion by 2030, growing at a CAGR of 31.1% from 2022 to 2030, according to a report by Grand View Research. This growth is driven by the increasing adoption of blockchain technology in the automotive industry for applications such as supply chain management, smart contracts, and vehicle-to-vehicle communication. The report highlights that blockchain can enhance transparency, security, and efficiency in automotive processes, with North America expected to lead the market due to the presence of major automotive manufacturers and tech companies investing in blockchain solutions.

Read the Full gadgets360 Article at:
[ https://www.gadgets360.com/cryptocurrency/news/automotive-blockchain-market-hit-usd-5-6-billion-2030-report-8373313 ]