DUBLIN, January 25, 2023 /PRNewswire/ — IoT Blockchain Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022-2030 Report added to ResearchAndMarkets.com offer.
Key Market Information
Growing concerns about data security are expected to spur demand in the IoT blockchain market.
The global market value of the IoT blockchain has risen from US$105.3 million in 2021 until US$25,560.3 million in 2030 with an average annual growth rate of 60.6% with a forecast from 2022 to 2030
The growing deployment of Internet of Things (IoT) devices around the world has created a sense of data security. The traditional client-server architecture is vulnerable to a security breach 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 hack. The architectural limitations of the IoT prevent it from making intelligent security decisions, so a blockchain solution for IoT could open up lucrative cybersecurity opportunities. In addition, businesses that rely on complex and expensive data have opted for IoT blockchain solutions to keep their data secure.
The hardware segment is forecast to grow at a significant pace
Hardware is analyzed as the most promising segment during the forecast period. The profitable growth of this segment is mainly due to the increase in the number of use cases for the IoT blockchain to redefine business models and improve the performance of their platforms. Blockchain hardware collects data from the edge of the Internet of Things and transfers it to the cloud, which helps to add value to the business and expand its capabilities. However, the software segment is expected to hold a significant share during the forecast period due to increased investment from major market players.
End user analysis
The smart city segment is expected to show the fastest growth during the forecast period
The smart city segment is looking for profitable opportunities for blockchain IoT solution in the near future due to the significant number of ongoing smart city projects in different parts of the world. Some of the best smart city projects operating around the world are Digital Catapult, Sidewalk Labs LinkNYC, CityTree by Green City Solutions, Telensa Smart Parking and many more.
Market leaders working in smart city projects are using blockchain-based IoT solutions to overcome security and privacy challenges in various smart city solutions. In addition, many IoT solution providers for smart city projects have teamed up with blockchain players to provide related solutions. For example, in November 2019Obyte, a distributed ledger technology (DLT) platform, has signed a partnership with Bosch Connectory to explore a smart city solution.
Key players and competitive environment:
A significant opportunity for new entrants to enter the global IoT blockchain market.
The global IoT blockchain market is an emerging market 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 presence in the global market through precise exploitation of the power of IoT with blockchain.
List of companies covered:
Cisco Systems Inc.
Asset tracking and management
Other (real-time workforce tracking and workforce management)
transport and logistic
Energy and usefulness
Wearable and mobile devices
Other (food, pharmaceuticals, mining, agriculture, construction and real estate)
Key questions answered in this report
What are the key micro and macro environmental factors driving the growth of the IoT Blockchain market?
What are the key investment pockets by product segment and region at present and during the forecast period?
Estimated forecast and market forecasts up to 2030.
Which segment accounts for the fastest CAGR during the forecast period?
Which market segment has the largest market share and why?
Are low- and middle-income countries investing in the IoT blockchain market?
Which regional market is the largest for the Blockchain IoT market?
What are the market trends and dynamics of emerging markets such as Asian-Pacific area, Latin Americaand Middle East & Africa?
What are the key trends driving the growth of the IoT Blockchain market?
Who are the key competitors and what are their key strategies to expand their presence in the Blockchain IoT market worldwide?
3. IoT Blockchain Market: Competitive Analysis
4. IoT blockchain market: macro analysis and market dynamics
5. IoT blockchain market: by proposals, 2020-2030, USD (million)
6. IoT blockchain market: by application, 2020-2030, USD (million)
7. IoT blockchain market: by end users, 2020-2030, USD (million)
Figure 8. IoT Blockchain Market in North America, 2020-2030, USD (million)
9. IoT blockchain market in the UK and the European Union, 2020-2030, USD (million)
10. Asia-Pacific IoT blockchain market, 2020-2030, USD (million)
11. IoT blockchain market in Latin America, 2020-2030, USD (million)
12. Middle East and African IoT blockchain market, 2020-2030, USD (million)
13. Company Profile
For more information about this report, please visit https://www.researchandmarkets.com/r/9ww9jp-iot?w=5.
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