Market Highlights
According to Market Research Future, the global blockchain IoT market has been segmented based on offering, application, end-user, and region/country. The growing adoption of blockchain and IoT technologies across the retail sector is expected to drive market growth during the forecast period.
Retailers use IoT and blockchain technology to track products in stores, prevent product tampering, and increase security across retail stores. Other verticals such as supply chain and logistics, automotive, healthcare, manufacturing, and construction are also expected to register a high demand for blockchain IoT during the forecast period.
Blockchain IoT Market is projected to exceed USD 124.58 Million by the end of 2027, with a CAGR of 93.4% during the forecast period 2020-2027
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Offering, the global blockchain IoT market has been divided into hardware, software, and services. The hardware segment is expected to have a higher market share during the forecast period due to growing demand infrastructure for deploying, developing, and managing blockchain applications.
It is also is expected to be the fastest-growing segment during the forecast period due to the implementation of IoT and blockchain technology across the smart city applications.
Based on Application, the global blockchain IoT market has been divided into data sharing, smart homes, data security, smart contracts, asset tracking management, and others. The data security segment held the largest market share in 2018.
This is due to the crypto mechanism used of the blockchain which makes it hard for unauthorized users to access and damage the data. The smart contracts segment is expected to be the fastest-growing during the forecast period due to the increasing use of blockchain IoT in the construction industry for smart contract applications.
On the basis of End User, the global blockchain IoT market has been divided into the supply chain and logistics, retail, automotive, healthcare, manufacturing, construction, government, energy and utility, and others. The as government segment is expected to hold the largest market share during the forecast period owing to the increasing government initiatives and use of blockchain IoT across the smart city development projects.
Regional Analysis
By Region, the Global Blockchain IoT Market has been segmented into North America, Europe, Asia-Pacific, the Middle East Africa, and South America. North America accounted for the largest market share due to the presence of major key players in the region. Asia-Pacific is expected to be the fastest-growing market due to the growing adoption of the latest digital technologies in various industry verticals.
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Key Players
The Key Players in the Global Blockchain IoT Market are Intel Corporation (US), IBM Corporation (US), Amazon.com, Inc. (US), Microsoft Corporation (US), Cisco Systems (US), R3 (US), Chronicled (US), Ethereum Foundation (Switzerland), Filament (Nevada), KrypC (India), The Linux Foundation (US), ArcTouch (US), and Filament (Nevada).
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