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Blockchain IoT Market Analysis Of Global Trends, Demand And Competition 2020-2028

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Blockchain IoT market.

Trusted Business Insights presents an updated and Latest Study on Blockchain IoT Market 2019-2026. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Blockchain IoT market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

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Global Blockchain IoT Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028 is a recent report generated by Trusted Business Insights. The global blockchain IoT market report has been segmented on the basis of application, end user, and region.

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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,, 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.)

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COVID-19 impact and Future growth of Global Blockchain IoT Market

According to a study, Global Blockchain IoT Market by Research Dive, the global Blockchain IoT market size is expected to account for $ 5.80 Billion by the end of 2026, registering 91.5% CAGR over the forecast period.

Global Blockchain IoT Market Insight and Outlook 2026

Blockchain and IoT together are improving the efficiency of supply chain majorly by eliminating the middle man functioning, due to which transactions are getting completed in a much faster way with a lower price. However, this combination of IoT and blockchain will enhance the secure communication between the devices along with strengthening the privacy agreements these are the key blockchain IoT market drivers.

Check out How Smart Cities segment is predicted to be most lucrative till the end of 2026 @

However, the lack of awareness among the developing nations and uncertainty of regulations will impede the blockchain in IoT market growth.

Smart cities segment is expected to grow at a highest CAGR of 93.9% accounting for $639.4 million over the forecast period.

Blockchain IoT Market Segmentation by Offering

  • Hardware
  • Software
  • Service

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Blockchain in IoT Market Drivers

The software offerings segment held the largest market size in the year 2018 and is projected to grow at a CAGR of 91.1% over the forecast timeframe. However, hardware segment is anticipated to dominate the market over the forecast period, growing at a CAGR of 93.6%. hardware segment is majorly driven due to the growing data transition among the people of the same network.

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Blockchain IoT Market Segmentation by Application

  • Smart Contracts
  • Data Security
  • Data Sharing
  • Asset Tracking and Management

On the basis of application segment, data security application accounted for 22% share in the year 2018, valued for $7.0 million and is anticipated to grow at a highest CAGR of 93.4%. this is majorly due to the increasing concerns for data theft owing to the number of cyber-attacks taking place across the globe.

Blockchain IoT Market Segmentation by End-use

  • Energy & Utility
  • Transportation & Logistics
  • Manufacturing
  • Building Management
  • Healthcare
  • Retail
  • Wearable and mobile Devices
  • Combined Mode
  • Volume Mode Combination
  • Others

End-use segment in blockchain IoT market is categorized into energy & utility, transportation & logistics, manufacturing, building management, healthcare, retail, wearable & mobile devices and smart cities among others. Smart cities segment is expected to grow at a highest CAGR of 93.9% accounting for $639.4 million over the forecast period. Smart city market leaders are implementing blockchain as a major platform that are associated with different services to eliminate security breaches, provide seamless transactions, track data, and encouraging public services. Smart cities incorporate IoT technology with almost everything that is related to our day to day life, with the rapid technological advancements smart cities will soon become the reality. In order to keep the personal data sake blockchain is being implemented in IoT services in smart cities as well.

Asia-Pacific Blockchain in IoT market is anticipated to grow rapidly during the projected period, and is anticipated to reach $1459.8 million by the end of 2026, at a growth rate of 94.8%. This is majorly due to the rapid growth taking place in infrastructure and manufacturing sectors in various developing countries such as India, China and South Korea. The North America blockchain in IoT market dominated the global blockchain IoT market in 2018. This region will witness market growth 90.1% and is anticipated to reach $1,746.5 million by 2026.

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Key Players in the Market

  • KrypC,
  • Microsoft Corporation
  • Intel Corporation
  • IBM Corporation
  • Cisco Systems
  • The Linux Foundation
  • R3
  • Filament
  • Ethereum Foundation

Blockchain IoT market players are Intel Corporation, Ethereum Foundation, KrypC, R3, Filament, Cisco Systems, IBM Corporation, and Microsoft Corporation among others. These manufacturers are continuously increasing their efforts on R&D activities, as it will help to increase their position in the global market. Recent developments in the Blockchain IoT market by joined hands with start-up called Kaleido in order to make it easier for users to place their services on blockchain.

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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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