blockchain-iot-market

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, 2024 - 2032

26 Jan 2020 Format PDF icon PPT icon XLS icon Request Sample

Key Market Insights

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

The global blockchain IoT market value surged from US$ 105.3 Mn in the year 2021 to US$ 25,560.3 Mn in 2030, with a CAGR of 60.6% during the forecast from 2023 to 2030.

Increasing deployment of Internet of Things (IoT) devices worldwide has triggered a sense of data security. Traditional architecture of client-server is vulnerable to security breach 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 prevents it from making intelligent security decisions, therefore blockchain solution 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.

Offering Analysis

"Hardware Segment predicted to grow at a Substantial Rate"

Hardware 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 cloud that helps in driving business values and empowering them. However, software segment anticipated to hold 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"

Smart city segment seeks lucrative opportunity for the blockchain IoT solution in the near future owing to significant number of on-going 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 for overcoming the security-breach and privacy-related issues in different smart city solutions. For the same, many IoT solution providers for the smart city projects have joined hands with blockchain players to provide relevant solutions. For instance, in November 2019, Obyte, a Distributed Ledger Technology (DLT) platform has signed a partnership agreement with Bosch Connectory to explore smart city solution.

Regional Analysis

"North America acquire Substantial Share in the Global Blockchain IoT Market"

In 2021, North America dominated the global blockchain IoT market and 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 significant growth of the region. In addition, the region has 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 America region owing 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 in the Global Blockchain IoT Market"

The global blockchain IoT market is a nascent market, but still highly competitive owing 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 its 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 to collaborate Chainlink and IoTeX in its research and development lab to provide realistic data blockchain application.
  • On July 09, 2019, China Mobile Hong Kong (CMHK) announced to collaborate with Applied Science and Technology Research Institute (ASTRI) to develop blockchain-powered IoT solution for the smart city development.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Blockchain IoT market are as follows:

  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Blockchain IoT market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

ATTRIBUTE DETAILS
Research Period  2022-2032
Base Year 2023
Forecast Period  2024-2032
Historical Year  2022
Unit  USD Million
Segmentation
Offering
  • Hardware
  • Software
  • Infrastructure Provider

Application
  • Data Security
  • Smart Contacts
  • Asset Tracking and Management
  • Data Communication/Sharing
  • Others (real-time workforce tracking, and workforce management)

End-user
  • Transportation and Logistics
  • Energy and Utility
  • Manufacturing
  • Retail
  • Building Management
  • Smart City
  • Healthcare
  • Wearable and Mobile Devices
  • Others (food, pharmaceuticals, mining, agriculture, construction, and real estate)

 Region Segment (2022-2032; US$ Million)

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • UK and European Union
    • UK
    • Germany
    • Spain
    • Italy
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Africa
    • Rest of Middle East and Africa

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Blockchain IoT market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2032.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds 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 Blockchain IoT market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Blockchain IoT market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Blockchain IoT market worldwide?
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