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Blockchain IoT Market By Offering (Hardware, Software, Infrastructure Provider), By Application (Data Security, Smart Contacts, Asset Tracking And Management, Data Communication/Sharing, Others), By End-User (Transportation And Logistics, Energy And Utility, Manufacturing, Retail, Building Management, Smart City, Healthcare, Wearable And Mobile Devices, Others) - Growth, Share, Opportunities & Competitive Analysis, 2019 -2027

"Rising Concern for Data Security expected to spur the demand for Blockchain IoT Market."

The global blockchain IoT market value surged from US$ 37.4 Mn in 2018 to US$ 9,070.4 Mn in 2027, with a CAGR of 60.6% from 2019 to 2027.

The increasing deployment of Internet of Things (IoT) devices worldwide has triggered a sense of data security. The traditional client-server architecture is vulnerable to security breaches due to single-point security intelligence. On the other hand, blockchain distributed ledger technology provides distributed and decentralized security system that is hard to break. Architectural limitations of IoT prevent it from making intelligent security decisions. Therefore blockchain solutions for IoT can open up lucrative opportunities in the field of 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.

Market Synopsis

Offering Analysis

"Hardware Segment predicted to grow at a Substantial Rate."

Hardware was analyzed as the most opportunistic segment during the forecast period. The lucrative growth of the segment is mainly due to increasing use cases of blockchain IoT in redefining business models and increasing their productivity platforms. Blockchain hardware picks data from the edge of IoT and transfers it to the cloud, which helps drive business values and empower them. However, the software segment is anticipated to hold a substantial share over the forecast period due to increasing investment by major market players.

End-user Analysis

"Smart City Segment expected to witness the Fastest Growth during the Forecast Period."

The smart city segment seeks a lucrative opportunity for the blockchain IoT solution in the near future owing to a significant number of ongoing smart city projects in different parts of the world. Some of the top smart city projects operating across the world are Digital Catapult, Sidewalk Labs LinkNYC, Green City Solutions' CityTree, Telensa Smart Parking, and many others.

Market leaders operating in smart city projects leverage blockchain IoT solutions to overcome the security-breach and privacy-related issues in different smart city solutions. As a result, many IoT solution providers for innovative city projects have joined with blockchain players to provide relevant solutions. For instance, in November 2019, Obyte, a Distributed Ledger Technology (DLT) platform, signed a partnership agreement with Bosch Connectory to explore smart city solutions.

Regional Analysis

"North America Acquires Substantial Share in the Global Blockchain IoT Market."

In 2018, North America dominated the global blockchain IoT market and was expected to register considerable growth over the analysis period. Early adoption of blockchain technology for IoT devices across various industry verticals is the prime factor contributing to the region's significant growth. In addition, the region has a significant presence of market leaders such as Intel Corp., Amazon Inc., The Linux Foundation, R3 LLC, and many others that accounts for another prime factor in its prominent growth.

The U.S. is the major revenue shareholder in the North American region, owing to significant application and use cases in transportation, supply chain logistics, and money transaction applications. For instance, in August 2019, Golden State Foods (GSF), a US-based manufacturer and supplier of food products, announced its partnership agreement with IBM Corp. to optimize its business processing.

Key Players & Competitive Landscape:

"Significant Opportunity for the New Entrants to invade the Global Blockchain IoT Market."

The global blockchain IoT market is nascent but still highly competitive owing to 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 accurately leveraging the power of IoT with blockchain.

List of Companies Covered:

  • IBM Corporation
  • Microsoft Corporation
  • Intel Corporation
  • Amazon.com Inc.
  • Cisco Systems Inc.
  • Ethereum Foundation
  • The Linux Foundation
  • R3 LLC
  • Filament
  • KrypC Technologies

Key Industry Development:

  • On July 12, 2019, Oracle Corporation announced the collaboration of Chainlink and IoTeX in its research and development lab to provide realistic data blockchain applications.
  • On July 09, 2019, China Mobile Hong Kong (CMHK) announced to collaboration with the Applied Science and Technology Research Institute (ASTRI) to develop a blockchain-powered IoT solution for smart city development.

Historical & Forecast Period

This research study provides qualitative as well as quantitative insights for each segment and sub-segment from 2017 to 2027, considering 2018 as the base year for the research. CAGR (Compounded Annual Growth Rate) for each segment and sub-segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The blockchain IoT market research offers market size and forecasts based on market dynamics and predominant trends shaping the industry. The report provides an all-around view of the global blockchain IoT market based on offering, application, end-user, and geography.

Frequently Asked Questions:

The market for Blockchain IoT is expected to reach US$ 9,070.4 Mn in 2028.

The Blockchain IoT market is expected to see significant CAGR growth over the coming years, at 60.6%.

The report is forcasted from 2019-2027.

The base year of this report is 2021.

IBM Corporation, Microsoft Corporation, Intel Corporation, Amazon.com Inc., Cisco Systems Inc., Ethereum Foundation, The Linux Foundation, R3 LLC, Filament are some of the major players in the global market.

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Published Date:  Jan 2020
Category:  IT & Telecom
Report ID:   60161
Report Format:   PDF
Pages:   150
Rating:    4.6 (56)
Delivery Time: 24 Hours to 48 Hours   
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