Global Blockchain IoT Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Blockchain IoT Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global blockchain IoT market report has been segmented on the basis of application, end user, and region.
Global Blockchain IoT Market: Overview
IoT is a technology that connects every device over the Internet whereas blockchain is form of distributed ledger technology. Together they form a strong secure analytical environment. Key benefits of using blockchain for IoT are reduced risks of tampering and collusion, reduced cost, and reduced settlement times for transactions.
Global Blockchain IoT Market: Dynamics
Increasing focus to enhance operational efficiency and growing need to visualize proof-of-work among BFSI organizations is expected to drive high revenue growth opportunities for players to integrate blockchain technology into IoT based devices. IoT based devices such as robotic arms, smart phones, and others are increasing demand for security-based framework, which is also offered through blockchain technology, is expected to support growth of the potential market during the forecast period.
Organization across the globe are focusing on offering highly secure software services or applications. In addition, increasing adoption of emerging technologies by various organization to offer advancements in products and services is proliferating growth of IoT adoption at a high rate. Increasing digitalization across various industrial verticals for providing automation through digitalization is another factor boosting high adoption of emerging technologies. Aforementioned are factors expected to boost growth of the global blockchain IoT market in the coming 10 years.
Furthermore, growing demand and rising focus towards securing accessibility and visibility of data, increasing number of cyber-attacks and malicious activity, and growing concerns associated with cyber security is among some of the major factors expected to fuel the market growth globally.
Key trend observed in the global market is high adoption of blockchain solutions by IoT based service providers for smart contracts and digital identity service offering.
For instance; in April 2018, Amazon.com, Inc. introduced AWS Blockchain Templates as well as BaaS services for Ethereum and Hyperledger Fabric. This template deploys a blockchain framework that is choose as a base container on an Amazon Elastic Container Service (ECS) cluster, or directly on an EC2 instance running Docker.
Global Blockchain IoT Market: Segment Analysis
From the recent past, countries across the globe are focused on developing smart city, thus increasing technology discourse towards emerging technologies. Mostly all the smart cities development plans include integration of IoT with almost every aspect of day to day work. Realization of blockchain technology, and real-time environment and rising empowerment by advances in IoT domain seems to be the future. Therefore, among the application segments, the smart city segment is expected to register highest CAGR in the global market.
Global Blockchain IoT Market: Region Analysis
The blockchain IoT market in North America is expected to dominate in terms of revenue share in the global market. whereas, the market in Asia Pacific is projected to contribute highest CAGR in the target market.
Market in Europe is expected to drive growth of the global blockchain IoT market over the forecast period in terms of revenue. In addition, countries in Middle East & Africa is expected to register lucrative growth in terms of CAGR in the target market.
Global Blockchain IoT Market Segmentation:
Segmentation by Application:
- Smart Contracts
- Data Security
- Data Sharing/Communication
- Asset Tracking and Management
Segmentation by End User:
- Smart City
- Energy & Utility
- Wearable and Mobile Devices
- Others (Retail, Transportation & Logistics, Building Management, Etc.)
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- R3 LLC
- Filament, LLC
- Factom, Inc.
- IBM Corporation
- Intel Corporation
- com, Inc.
- Cisco Systems, Inc.
- Ethereum Foundation
- The Linux Foundation
- Microsoft Corporation
- KrypC Technologies Private Limited
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