Dublin, January 25, 2023 /PRNewswire/ — “Blockchain IoT Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022-2030” Report Added of ResearchAndMarkets.com Recruitment.
Key market insights
Growing Concerns Over Data Security Expected To Spur Blockchain IoT Market Demand
The global blockchain IoT market value is $105.3 million from 2021 US$25,560.3 million In 2030, the CAGR during the forecast period from 2022 to 2030 is 60.6%.
With the increasing deployment of Internet of Things (IoT) devices around the world, there is a growing awareness of data security. Traditional client-server architectures are vulnerable to security breaches due to their single point of security intelligence.
Blockchain distributed ledger technology, on the other hand, provides a decentralized decentralized security system that is hard to break. Architectural limitations of IoT prevent it from making intelligent security decisions. Blockchain solutions for IoT can therefore open up lucrative opportunities in the field of cybersecurity. Additionally, businesses that rely on complex and expensive data are showing a shift to blockchain IoT solutions for data security.
Hardware Segment Expected to Grow at a Substantial Rate
Hardware analyzed as the most opportunistic segment during the forecast period. The profitable growth of this segment is mainly due to increasing use cases of blockchain IoT in redefining business models and improving productivity platforms. Blockchain hardware can help take data from the edge of the IoT and transfer it to the cloud to drive and empower business value. However, the software segment is expected to hold a sizeable share over the forecast period due to increased investment by major market players.
Smart City Segment Expected to Witness the Fastest Growth During the Forecast Period
The smart city segment is seeking lucrative opportunities for blockchain IoT solutions in the near future due to the large number of smart city projects underway in different regions of the world. Some of the top smart city projects around the world include Digital Catapult, Sidewalk Labs LinkNYC, Green City Solutions’ CityTree, and Telensa Smart Parking.
Market leaders working in smart city projects leverage blockchain IoT solutions to overcome security breaches and privacy related issues in various smart city solutions. In the same way, many of his IoT solution providers for smart city projects have teamed up with blockchain players to provide relevant solutions. for example, November 2019Obyte, a distributed ledger technology (DLT) platform, has signed a partnership agreement with Bosch Connectory to explore smart city solutions.
Major Players and Competitive Landscape:
Great opportunity for new entrants to enter the global blockchain IoT market.
Although the global blockchain IoT market is still in its infancy, it is still highly competitive with several established blockchain players such as IBM Corp., Microsoft Corp. and Oracle Corp. Additionally, the market presents a lucrative opportunity for new entrants to establish a strong footprint in the global marketplace by precisely leveraging the power of IoT with blockchain.
List of companies covered:
Cisco Systems, Inc.
Asset tracking and management
Others (real-time employee tracking and workforce management)
energy and utilities
Wearables and mobile devices
Others (food, pharmaceuticals, mining, agriculture, construction, real estate)
Key questions answered in this report
What are the key micro- and macro-environmental factors impacting the growth of the blockchain IoT market?
What are the major investment pockets for product segments and geographies at present and during the forecast period?
Estimated forecasts and market forecasts to 2030.
Which segment will account for the fastest CAGR during the forecast period?
Which market segment has the largest market share and why?
Are low- and middle-income countries investing in the blockchain IoT market?
Which are the largest regional markets for the Blockchain IoT market?
What are the market trends and dynamics in emerging markets such as Asia Pacific, latin americaWhen middle east & Africa?
Which are the key trends driving the growth of the blockchain IoT market?
Who are the key competitors and what are the key strategies to increase their market presence in the global Blockchain IoT market?
3. Blockchain IoT Market: Competitive Analysis
4. Blockchain IoT Market: Macro Analysis and Market Dynamics
5. Blockchain IoT Market: By Offering, 2020-2030, USD (Million USD)
6. Blockchain IoT Market: By Application, 2020-2030, USD (Million USD)
7. Blockchain IoT Market: By End User, 2020-2030, USD (Million USD)
8. North America Blockchain IoT Market, 2020-2030, USD (Million USD)
9. UK and European Union Blockchain IoT Market, 2020-2030, US Dollars ($M)
10. Asia-Pacific Blockchain IoT Market, 2020-2030, USD (Million USD)
11. Latin America Blockchain IoT Market, 2020-2030, USD (Million USD)
12. middle east and Africa Blockchain IoT Market, 2020-2030, USD (Million USD)
13. Company profile
For more information on this report, please visit https://www.researchandmarkets.com/r/9ww9jp-iot?w=5.
ResearchAndMarkets.com is the world’s leading source of international market research reports and market data. It provides up-to-date data on international and regional markets, key industries, top companies, new products and latest trends.
research and market
Laura WoodSenior Manager
For EST office hours, please call +1-917-300-0470.
US/Canada Toll Free +1-800-526-8630
For GMT office hours, please call +353-1-416-8900.
US Fax: 646-607-1907
Fax (outside US): +353-1-481-1
View Original Content: https://www.prnewswire.com/news-releases/blockchain-iot-global-market-report-2022-sector-to-reach-25-56-billion-by-2030-at- a-60-6-cagr-301730781.html
SOURCE Research and Market