Sector to reach USD 25.56 billion by 2030 at a CAGR of 60.6%
DUBLIN, 25 January 2023 /PRNewswire/ — The “Blockchain IoT Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030” report has been added ResearchAndMarkets.com’s Offering.
Important market insights
Growing concern about data security is expected to stimulate the demand for Blockchain IoT Market
The global blockchain IoT market value rose from USD 105.3 Mn in the year 2021 to USD 25,560.3 Mn in 2030, with a CAGR of 60.6% during the forecast from 2022 to 2030.
Increasing deployment of Internet of Things (IoT) devices worldwide has sparked a sense of data security. Traditional client-server architecture is vulnerable to security breaches due to single-point security intelligence.
On the other hand, blockchain distributed ledger technology provides a distributed and decentralized security system that is difficult to break. Architectural limitations of IoT prevent it from making intelligent security decisions, therefore blockchain solution for IoT can open up lucrative opportunities in cyber security. In addition, businesses that rely on complex and expensive data have shown a preference shift towards blockchain IoT solutions for their data security.
The hardware segment is predicted to grow at a significant rate
Hardware analyzed as the most opportunistic segment in the forecast period. The lucrative growth in the segment is mainly due to increasing use of blockchain IoT to redefine business models and increase their productivity platforms. Blockchain hardware plucks data from the edge of IoT and transfers it to the cloud that helps drive and empower business value. However, the software segment expected to hold a significant share over the forecast period due to increasing investments by major market players.
End user analysis
The Smart City segment is expected to witness the fastest growth during the forecast period
The smart city segment is seeking lucrative opportunities for the blockchain IoT solution in the near future due to a significant number of ongoing smart city projects in different parts of the world. Some of the top smart city projects operating worldwide are Digital Catapult, Sidewalk Labs LinkNYC, Green City Solutions’ CityTree, Telensa Smart Parking and many others.
Market leaders operating in smart city projects are leveraging blockchain IoT solutions to overcome security breaches and privacy-related issues in various smart city solutions. For the same, many IoT solution providers for the smart city projects have joined forces with blockchain actors to offer relevant solutions. For example in November 2019Obyte, a DLT (Distributed Ledger Technology) platform has signed a partnership agreement with Bosch Connectory to explore smart city solutions.
Key players and competitive landscape:
Significant opportunity for the new entrants to invade in the global Blockchain IoT market.
The global blockchain IoT market is nascent but still highly competitive due to the presence of several established blockchain players such as IBM Corp., Microsoft Corp., Oracle Corp. and many others. In addition, the market provides lucrative opportunities for new entrants to establish their strong footprint in the global market by precisely harnessing the power of IoT with blockchain.
List of companies covered:
Cisco Systems Inc.
The Linux Foundation
Asset tracking and management
Others (real-time workforce tracking and workforce management)
Transportation and logistics
Energy and utility
Portable and mobile devices
Others (food, pharmaceuticals, mining, agriculture, construction and real estate)
Key questions answered in this report
What are the key micro and macro environmental factors influencing the growth of the Blockchain IoT market?
What are the key investment pockets in terms of product segments and geographies currently and in the forecast period?
Estimated forecasts and market forecasts up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment has a larger market share and why?
Are Low and Middle Income Economies Investing in the Blockchain IoT Market?
Which is the largest regional market for the Blockchain IoT market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin Americaand Middle East & Africa?
What are the key trends driving Blockchain IoT market growth?
Who are the main competitors and what are their key strategies to improve their market presence in the Blockchain IoT market worldwide?
Key topics covered:
3. Blockchain IoT Market: Competitive Analysis
4. Blockchain IoT Market: Macro Analysis and Market Dynamics
5. Blockchain IoT Market: By Offering, 2020-2030, USD (Million)
6. Blockchain IoT Market: By Application, 2020-2030, USD (Million)
7. Blockchain IoT Market: By End User, 2020-2030, USD (Million)
8. North America Blockchain IoT Market, 2020-2030, USD (Million)
9. UK and EU Blockchain IoT Market, 2020-2030, USD (Million)
10. Asia Pacific Blockchain IoT Market, 2020-2030, USD (Million)
11. Latin America Blockchain IoT Market, 2020-2030, USD (Million)
12. Middle East and Africa Blockchain IoT Market, 2020-2030, USD (Million)
13. Company profile
For more information on this report visit https://www.researchandmarkets.com/r/9ww9jp-iot?w=5
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