Blockchain Iot Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the Blockchain Iot Market by region.
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The global blockchain IoT market size was US$ 3.5 billion in 2021. The global blockchain IoT market is forecast to grow to US$ 271 billion by 2030, registering a compound annual growth rate (CAGR) of 45.2% during the forecast period from 2022 to 2030.
Factors Influencing the Market
The increasing penetration of IoT technology is forecast to benefit the global blockchain IoT market. Growing initiatives to establish smart cities, smart transportation infrastructure, and vehicular connection forecast to play a beneficial role.
The increasing privacy concerns related to IoT devices, such as botnet attacks, Distributed Denial of Service (DDoS) assaults, and insecure ecosystem interfaces, are forecast to benefit the global blockchain IoT market during the forecast period. Blockchain offers an effective solution for IoT security. It enhances data security and protects data from unauthorized access. All of these factors will contribute to market growth.
The increasing focus of companies towards adopting effective solutions is forecast to benefit the global blockchain IoT market. Due to the COVID-19 pandemic, companies are increasingly inclining towards online operations. As a result, the demand for data security is forecast to increase from the government, BFSI, and private companies. However, a lack of knowledge about the technology may hamper the growth of the global blockchain IoT market.
Regional Analysis
The Asia-Pacific blockchain IoT market is forecast to register the highest growth rate, owing to the increasing number of technology companies, growing investments, and favorable government initiatives to build smart city infrastructure.
In August 2019, Reliance, a leading Indian multinational conglomerate company, unveiled its plans to launch a blockchain network with the aim to modernize the agriculture supply chain.
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COVID-19 Impact Analysis
Due to the COVID-19 pandemic, the reliance on online enterprises has expanded dramatically. The internet is being used by BFSI, healthcare, and life sciences, manufacturing, automotive, retail, transportation, logistics, and other industries in order to offer critical services to consumers. However, the global pandemic had a negative impact on the demand and availability of the various hardware components needed for blockchain IoT. The healthcare and government sectors are expected to have a significant contribution to the market during the pandemic.
Competitors in the Market
IBM (US)
Microsoft (US)
Intel (US)
Amazon Web Services (US)
Huawei (China)
Cisco (US)
SAP (Germany)
Ethereum Foundation (Switzerland)
The Linux Foundation (US)
R3 (US)
Other Prominent Players
Market Segmentation
The global blockchain IoT market segmentation focuses on Component, Application, Organization Size, Vertical, and Region.
Based on the component:
Hardware
IoT Sensors
Motion Sensors
GPS
Temperature Sensors
Vehicle Information
Connected Devices
Crypto-wallets
Software and Platform
Services
Technology Advisory and Consulting Services
Deployment and Integration Services
Support and Maintenance
Based on applications:
Smart Contracts
Security
Data Sharing/ Communication
Asset Tracking and Management
Other applications* (real-time workforce tracking and workforce management)
Based on organization size:
Large Enterprises
SMEs
Based on the vertical:
Energy and Utilities
Transportation and Logistics
Manufacturing
Building Management
Healthcare
Retail
Wearable and Mobile Devices
Smart City
Other verticals** (food and beverages, pharmaceutical, mining, agriculture, construction, and real estate)
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Regional Outlook
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What is the goal of the report?
• The market report presents the estimated size of the ICT market at the end of the forecast period. The report also examines historical and current market sizes.
• During the forecast period, the report analyzes the growth rate, market size, and market valuation.
• The report presents current trends in the industry and the future potential of the North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa markets.
• The report offers a comprehensive view of the market based on geographic scope, market segmentation, and key player financial performance
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