DUBLIN, March 3, 2020 /PRNewswire/ -- The "Global Blockchain IoT Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027" report has been added to ResearchAndMarkets.com's offering.
The global blockchain IoT market was valued at US$ 37.4 million in the year 2018 and expected to reach US$ 9,070.4 million by the year 2027, expanding at a CAGR of 60.6% during the forecast from 2019 to 2027.
Rising penetration of IoT connected devices across the world will uplift the demand for Blockchain IoT during the forecast period.
The advent of the Internet of Things (IoT) has upended several industries to a greater extent since its introduction, and still, the demand for IoT is escalating at a rapid pace. IoT connected devices across the world have surpassed the installed bases from 7 billion in 2018 to 21.5 billion in 2025.
However, IoT still faces difficulty in solving security and privacy issues owing to its traditional architecture. Besides this, increasing cases of a data breach has forced enterprises to think about a new model or architecture. Blockchain is proved to be a game-changer for IoT that uses distributed ledger technology to solve security challenges.
The global blockchain IoT market is highly competitive owing to the emergence of new players and startups in the market. In addition, some blockchain players and IoT solution providers are joining their hands to provide a more effective and secure solution. This upcoming market trend is poised to increase market competition significantly.
- On April 01, 2019, Filament, a blockchain solution provider for IoT, announced the launch of the new Blocklet Foundation Kit. The kit was designed for hardware and embedded developers those focusing on IoT. The kit will demonstrate users the smart contract functions along with this it also helps in generating IoT blockchain transaction.
- On February 01, 2019, MXC Foundation and Enlink Midstream announced their collaboration to provide MXProtocol for smart city hardware of Enlink Midstream in South Korea.
- On August 09, 2018, IBM Corporation and Maersk A/S joined their hands to develop a blockchain-enabled shipping solution named 'TradeLens'. The solution will enhance the secured and efficient trade worldwide by bringing various players together at one platform to share information securely and uplift the industry-wide innovation.
Key Market Movements
- Globally, the blockchain IoT market projected to witness a CAGR of 60.6% during the forecast period from 2019 to 2027
- Major factors driving the blockchain IoT market are rising adoption of IoT connected devices, growing security concern for IoT devices, and shifting focus towards operational efficiency
- The smart city is the most lucrative end-user segment in the global blockchain IoT market owing to the significant adoption of blockchain solutions for enhancing security in the running smart city projects
- The significant growth of blockchain IoT in the Asia Pacific region is mainly attributed to the increasing penetration of blockchain IoT solutions in various verticals along with favorable economic situations for the adoption of new solutions
- North America held a substantial share in the global blockchain IoT market owing to the presence of global IoT leaders coupled with prior adoption of blockchain solutions in the region
Key Topics Covered
2. Executive Summary
2.1. Market Snapshot: Global Blockchain IoT Market
2.2. Global B-IoT Market, by Offering, 2018 (US$ Mn)
2.3. Global B-IoT Market, by Application, 2018 (US$ Mn)
2.4. Global B-IoT Market, by End-user, 2018 (US$ Mn)
2.5. Global B-IoT Market, by Geography, 2018 (US$ Mn)
3. Market Dynamics
3.1.1. Global B-IoT Market Value, 2017-2027, (US$ Mn)
3.2. Market Dynamics
3.2.1. Market Drivers
3.2.2. Market Restraints
3.3. Attractive Investment Proposition, by Geography, 2018
3.4. Market Positioning of Key Players, 2018
3.4.1. Major Strategies Adopted by Key Players
4. Global Blockchain IoT (B-IoT) Market, by Offering, 2017-2027 (US$ Mn)
4.4. Infrastructure Provider
5. Global Blockchain IoT (B-IoT) Market, by Application, 2017-2027 (US$ Mn)
5.2. Data Security
5.3. Smart Contacts
5.4. Asset Tracking and Management
5.5. Data Communication/Sharing
5.6. Others (real-time workforce tracking, and workforce management)
6. Global Blockchain IoT (B-IoT) Market, by End-user, 2017-2027 (US$ Mn)
6.2. Transportation and Logistics
6.3. Energy and Utility
6.6. Building Management
6.7. Smart City
6.9. Wearable and Mobile Devices
6.10. Others (Food, Pharmaceuticals, Mining, Agriculture, Construction, and Real Estate)
7. North America Blockchain IoT (B-IoT) Market Analysis, 2017-2027 (US$ Mn)
8. Europe Blockchain IoT (B-IoT) Market Analysis, 2017-2027 (US$ Mn)
9. Asia-Pacific Blockchain IoT (B-IoT) Market Analysis, 2017-2027 (US$ Mn)
10. Rest of the World Blockchain IoT (B-IoT) Market Analysis, 2017-2027 (US$ Mn)
11. Company Profiles
11.1. IBM Corporation
11.2. Microsoft Corporation
11.3. Intel Corporation
11.4. Amazon.com Inc.
11.5. Cisco Systems Inc.
11.6. Ethereum Foundation
11.7. The Linux Foundation
11.8. R3 LLC
11.10. KrypC Technologies
For more information about this report visit https://www.researchandmarkets.com/r/eddswz
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