The Worldwide Blockchain IoT Industry is Expected to Reach $2.4 Billion by 2026

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Mar 19, 2021, 11:45 ET

DUBLIN, March 19, 2021 /PRNewswire/ -- The "Blockchain IoT Market by Component (Hardware (IoT Sensors & Crypto-Wallets), Software and Platform, and Services), Application (Smart Contract, Security, and Asset Tracking and Management), Organization Size, Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.

The global blockchain IoT market size is projected to grow from USD 258 million in 2020 to USD 2,409 million by 2026, at a Compound Annual Growth Rate (CAGR) of 45.1% during the forecast period.

The growing need for IoT security, simplified processes supported with transparency and immutability, and high adoption of blockchain-based IoT solutions using smart contracts and AI is expected to surge demand for blockchain IoT market globally.

By component, the software and platform segment to grow at a higher CAGR during the forecast period

The software for blockchain IoT connects network-based requests placed by users for accessing backend data to the network. The blockchain software components consist of node application, consensus mechanism, virtual machines, and shared ledger. Blockchain helps cumulate technical and business information, fraud detection results, and user behavior data with the rest of the enterprise architecture via real-time demand tools. Software tools help visualize insights for quick and simple data gathering and enhanced predictive capabilities. A blockchain software integrated with IoT ensures secure device communication. The blockchain IoT platform is expected to witness wide adoption during the forecast period as an increasing number of enterprises of all sizes are realizing the benefits offered by this platform. The blockchain IoT software helps enterprises carry out complex tasks in a decentralized digital economy to avert risks, enable secure transactions, and optimize their daily operations, leading to reduced operational costs. This need for increased efficiency and security is expected to drive the adoption of the blockchain IoT market in the future.

By application, the asset tracking and management segment to register the highest growth rate during the forecast period

Merging IoT with blockchain can not only increase operational efficiency but also ensures a more secure environment. The symphony of IoT and blockchain technology is tremendously contributing to the growth of industries, such as healthcare, transportation, energy and utilities, and supply chain management in asset tracking and management. Asset management is primarily used for planning assets, improving real-time communication, monitoring asset condition, and proactively managing enterprise assets. The blockchain-backed IoT asset tracking and management application drives transparency along clients' supply chains. The combined power of IoT and blockchain helps detect patterns, malfunctions, and anomalies to optimize processes, faster transaction processing, enhanced supply chain traceability, and cost-efficiency.

Asia Pacific to register the highest growth rate during the forecast period

Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global Blockchain IoT market during the forecast period. The Blockchain IoT market in Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. APAC countries are increasingly investing in blockchain IoT projects. The region comprises emerging economies, such as ANZ, China, Japan, Singapore, and rest of APAC countries. With the proliferation of IoT in the APAC region, security and fraud concerns have risen; the integration of blockchain with IoT would enhance enterprise databases' trust and security. Enterprises in the APAC region are embracing blockchain technologies. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies, political transformation, and the growing digitalization, which is expected to have a significant impact on the business community and drive the blockchain IoT market growth.

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Blockchain IoT Market
4.2 Blockchain IoT Market, by Component
4.3 Blockchain IoT Market, by Hardware
4.4 Blockchain IoT Market, by Service
4.5 Blockchain IoT Market, by Organization Size
4.6 Blockchain IoT Market, by Application
4.7 Blockchain IoT Market, by Vertical
4.8 Market Investment Scenario

5 Market Overview
5.1 Market Dynamics
5.1.1 Drivers
5.1.1.1 Growing Need for IoT Security
5.1.1.2 Simplification of Processes Along with Transparency and Immutability
5.1.1.3 Low Operational Costs
5.1.2 Restraints
5.1.2.1 Limited Number of Blockchain IoT Experts
5.1.2.2 Uncertain Regulatory and Compliance Environment
5.1.2.3 Scalability, Processing Power, and Storage Issues
5.1.3 Opportunities
5.1.3.1 Higher Adoption of Blockchain-Based IoT Solutions Using Smart Contracts and Ai
5.1.3.2 Combating Deepfake Content Using Blockchain
5.1.4 Challenges
5.1.4.1 Lack of Awareness Related to Blockchain-Iot Technology
5.1.4.2 Security, Privacy, and Control of Blockchain Transactions
5.2 COVID-19-Driven Market Dynamics
5.2.1 Drivers and Opportunities
5.2.2 Restraints and Challenges
5.2.3 Cumulative Growth Analysis
5.3 Value Chain Analysis
5.4 Blockchain Ecosystem
5.5 Average Selling Price/Pricing Model, 2019-2020
5.5.1 IoT Sensors and Crypto-Wallets Average Selling Price
5.6 Technology Analysis
5.6.1 Big Data Analytics
5.6.2 Cloud
5.6.3 Other Technologies
5.7 Revenue Shift - Yc/Ycc Shift
5.8 Patent Analysis
5.8.1 Blockchain IoT Patents
5.9 Porter's Five Forces Model Analysis
5.9.1 Threat of New Entrants
5.9.2 Threat of Substitutes
5.9.3 Bargaining Power of Suppliers
5.9.4 Bargaining Power of Buyers
5.9.5 Intensity of Competitive Rivalry
5.10 Blockchain Associations and Consortiums
5.11 Use Cases

6 Blockchain IoT Market, by Component
6.1 Introduction
6.2 Hardware
6.2.1 Hardware: Blockchain IoT Market Drivers
6.2.2 Hardware: COVID-19 Impact
6.2.3 IoT Sensors
6.2.3.1 Motion Sensors
6.2.3.2 Gps
6.2.3.3 Temperature Sensors
6.2.3.4 Vehicle Information
6.2.3.5 Connected Devices
6.2.4 Crypto Wallets
6.3 Software and Platform
6.3.1 Software and Platform: Blockchain IoT Market Drivers
6.3.2 Software and Platform: COVID-19 Impact
6.4 Services
6.4.1 Services: Blockchain IoT Market Drivers
6.4.2 Services: COVID-19 Impact
6.4.3 Technology Advisory and Consulting Services
6.4.4 Development and Integration Services
6.4.5 Support and Maintenance

7 Blockchain IoT Market, by Organization Size
7.1 Introduction
7.2 Large Enterprises
7.2.1 Large Enterprises: Blockchain IoT Market Drivers
7.2.2 Large Enterprises: COVID-19 Impact
7.3 Small and Medium-Sized Enterprises
7.3.1 Small and Medium-Sized Enterprises: Blockchain IoT Market Drivers
7.3.2 Small and Medium-Sized Enterprises: COVID-19 Impact

8 Blockchain IoT Market, by Application
8.1 Introduction
8.2 Smart Contracts
8.2.1 Smart Contracts: Blockchain IoT Market Drivers
8.2.2 Smart Contracts: COVID-19 Impact
8.3 Security
8.3.1 Security: Blockchain IoT Market Drivers
8.3.2 Security: COVID-19 Impact
8.4 Data Sharing/Communication
8.4.1 Data Sharing/Communication: Blockchain IoT Market Drivers
8.4.2 Data Sharing/Communication: COVID-19 Impact
8.5 Asset Tracking and Management
8.5.1 Asset Tracking and Management: Blockchain IoT Market Drivers
8.5.2 Asset Tracking and Management: COVID-19 Impact
8.6 Other Applications

9 Blockchain IoT Market, by Vertical
9.1 Introduction
9.2 Energy and Utilities
9.2.1 Energy and Utilities: Blockchain IoT Market Drivers
9.2.2 Energy and Utilities: COVID-19 Impact
9.3 Transportation and Logistics
9.3.1 Transportation and Logistics: Blockchain IoT Market Drivers
9.3.2 Transportation and Logistics: COVID-19 Impact
9.4 Manufacturing
9.4.1 Manufacturing: Blockchain IoT Market Drivers
9.4.2 Manufacturing: COVID-19 Impact
9.5 Building Management
9.5.1 Building Management: Blockchain IoT Market Drivers
9.6 Healthcare
9.6.1 Healthcare: Blockchain IoT Market Drivers
9.6.2 Healthcare: COVID-19 Impact
9.7 Retail
9.7.1 Retail: Blockchain IoT Market Drivers
9.7.2 Retail: COVID-19 Impact
9.8 Wearable and Mobile Devices
9.8.1 Wearable and Mobile Devices: Blockchain IoT Market Drivers
9.8.2 Wearable and Mobile Devices: COVID-19 Impact
9.9 Smart City
9.9.1 Smart City: Blockchain IoT Market Drivers
9.9.2 Smart City: COVID-19 Impact
9.10 Other Verticals

10 Blockchain IoT Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Middle East and Africa
10.6 Latin America

11 Competitive Landscape
11.1 Introduction
11.2 Market Evaluation Framework
11.3 Key Player Strategies/Right to Win
11.3.1 Overview of Strategies Adopted by Key Blockchain IoT Vendors
11.4 Revenue Share Analysis of Top Market Players
11.5 Historic Revenue Analysis
11.6 Competitive Evaluation Matrix, 2020
11.6.1 Star
11.6.2 Emerging Leaders
11.6.3 Pervasive
11.6.4 Participants
11.7 Strength of Product Portfolio Analysis of Blockchain IoT Players
11.8 Business Strategy Excellence Analysis of Blockchain IoT Players
11.9 Startup/SME Evaluation Matrix, 2020
11.9.1 Progressive Companies
11.9.2 Responsive Companies
11.9.3 Dynamic Companies
11.9.4 Starting Blocks
11.10 Ranking of Key Players in the Blockchain IoT Market, 2020

12 Company Profiles
12.1 Introduction
12.2 Key Players
12.2.1 IBM
12.2.2 Microsoft
12.2.3 Intel
12.2.4 Amazon Web Services
12.2.5 Huawei
12.2.6 Cisco
12.2.7 SAP
12.2.8 Ethereum Foundation
12.2.9 The Linux Foundation
12.2.10 R3
12.2.11 Arctouch
12.2.12 Waltonchain
12.2.13 Helium
12.3 Startup/SME Profiles
12.3.1 Factom
12.3.2 Hypr
12.3.3 Chronicled
12.3.4 Krypc
12.3.5 IoTex
12.3.6 Discovery
12.3.7 IoTa
12.3.8 Atonomi
12.3.9 Xage
12.3.10 AmbrosUS
12.3.11 Netobjex
12.3.12 Grid+

13 Adjacent Market
13.1 Introduction
13.2 Limitations
13.3 Blockchain Market
13.3.1 Introduction
13.3.2 by Component
13.3.3 by Application Area
13.4 AI in IoT Market
13.4.1 Introduction
13.4.2 by Component
13.4.3 by Technology
13.5 Blockchain AI Market
13.5.1 Introduction
13.5.2 by Component

14 Appendix
14.1 Discussion Guide
14.2 Knowledge Store: The Subscription Portal
14.3 Available Customizations
14.4 Related Reports
14.5 Author Details

For more information about this report visit https://www.researchandmarkets.com/r/z6kk0v

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