What is the global market size of Blockchain IoT Market?

Blockchain IoT Market size was valued at USD 418.66 Million in 2022 and is poised to grow from USD 630.79 Million in 2023 to USD 16,753.39 Million by 2031, at a CAGR of 50.67% during the forecast period (2025-2032).

Who are the key vendors in the Blockchain IoT Market?

Blockchain IoT Market is highly competitive with the presence of local as well as global companies. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of Blockchain IoT Market . 'IBM', 'Microsoft', 'Intel', 'Amazon Web Services (US) ', 'Huawei (China) ', 'Cisco (US) ', 'SAP (Germany) ', 'Helium (US) ', 'Factom (US) ', 'HYPR (US) ', 'Chronicled (US) ', 'Ethereum Foundation (Switzerland) ', 'The Linux Foundation (US) ', 'R3 (US) ', 'Arctouch (US) ', 'Waltonchain (China) ', 'KrypC (India) ', 'Xage (US) ', 'Ambrosus (Estonia) ', 'NetObjex (US)'

What is the key driver of Blockchain IoT Market?

The Rising IoT device connectivity spread across the globe is a major factor positively impacting the Blockchain IoT market. Today, there are nearly 15 million Internet of Things (IoT) connected devices globally, however, there are predictions that this figure could reach 55. 7 billion by 2025. The increasing usage of IoT devices has led to the need for efficient data management to be safe and secure, thereby promoting blockchain technology. Therefore, as IoT ecosystems progress, it is important to secure and protect the integrity of data, which is a major factor that drives the Blockchain IoT market. This is a testament to the increasing symbiotic relationship between the IoT and Blockchain, where demand for smart and connected devices has rapidly increased.

What is the key market trend for Blockchain IoT Market?

Data security is one of the most important limitations for devices and services deployed in the metropolitan metropolis, which, when combined with blockchain's decentralized platform, ensures public trust and thus promotes market growth. Also, government projects around the world are beginning to recognize the potential of blockchain as it provides the necessary infrastructure for transaction management and guarantees transparency and security, both of which are key trends in smart city development.

Which region accounted for the largest share in Blockchain IoT Market?

Based on region, Blockchain IoT Market is divided into North America, Europe, Asia Pacific, Latin America, and MEA. North America dominated the Blockchain IoT Market by region due to the early adoption of new technologies and the availability of the latest technology infrastructure. North America is expected to gain prominence due to the presence of major technology players, including IBM, Microsoft, and Cisco, and the high adoption of IoT and blockchain technology in various industries such as healthcare, manufacturing, and transportation.

Blockchain IoT Market Size

SkyQuest Technology's Blockchain iot market size, share and forecast Report is based on the analysis of market data and Industry trends impacting the global Blockchain IoT Market and the revenue of top companies operating in it. Market Size Data and Statistics are based on the comprehensive research by our Team of Analysts and Industry experts.

Blockchain IoT Market Insights

Blockchain IoT Market size was valued at USD 330.4 million in 2023 and is poised to grow from USD 492.96 million in 2024 to USD 12104.85 million by 2032, growing at a CAGR of 49.2% during the forecast period (2025-2032).

Increasing adoption of blockchain and IoT device integration increases security through decentralized and tamper-proof data storage and communication, which is expected to drive market growth. With the rapid development of communication technology, IoT (Internet of Things) is gaining momentum in research and industry. It goes from infancy to adulthood driven by the amount of data generated, transmitted and processed.

Information IoT systems are powered by centralized topologies, where data is transferred from physical devices to the cloud, where analytics are used to process the data by sending the output back to the IoT devices. However, the increase in network access frequency limits the scalability of IoT platforms and puts them at risk of vulnerabilities that will ultimately compromise the security and privacy of users’ networks.

Powered by a decentralized architecture and cryptographic encryption, Blockchain uses the IoT platform to ensure privacy and security in a peer-to-peer network but requires high computing power, resulting in high bandwidth overhead and latency.

The online ecosystem is quite diverse. There are many challenges in building IoT devices that are compatible with blockchain technology. Scalability, which requires processing large amounts of data generated by a wide array of sensors, is one of the key challenges facing the IoT. The processing power and time required to charge all IoT devices in a blockchain-based ecosystem is as expected. Another key challenge with blockchain systems that place the ledger at the edge node is storage. IoT smart devices at the edge currently cannot store large amounts of data or handle large amounts of computing power.

US Blockchain IoT Market is poised to grow at a sustainable CAGR for the next forecast year.

Blockchain IoT Market Report Snapshots

REPORT OVERVIEW BUY NOW

REQUEST FOR SAMPLE

Want to customize this report?

REQUEST FREE CUSTOMIZATION

FAQs

Blockchain IoT Market size was valued at USD 329.6 Million in 2023 and is poised to grow from USD 490.8 Million in 2024 to USD 7964.2 Million by 2032, growing at a CAGR of 0.489 during the forecast period (2025-2032).

The blockchain IoT market is highly dynamic and competitive, with leading technology companies, startups and industry-specific players vying for dominance. The competition stems from the need to deliver secure, transparent and efficient IoT solutions by integrating blockchain technology. The landscape is characterized by strategy, collaboration, acquisition and innovation. IBM Blockchain is focused on developing platforms and solutions that seamlessly interact with IoT devices and networks. Their strategy includes leveraging their extensive cloud services and AI capabilities to improve IoT solutions. 'IBM Corporation ', 'Intel Corporation ', 'Microsoft Corporation ', 'Cisco Systems Inc. ', 'Amazon Inc. ', 'Robert Bosch GmbH ', 'The Linux Foundation ', 'KrypC Technologies ', 'Ethereum Foundation ', 'R3 LLC ', 'IoTA ', 'Waltonchain'

One of the major drivers of the Blockchain IoT market is the improved security and data integrity offered by blockchain technology. Using a decentralized and tamper-proof ledger, blockchain ensures that IoT data is secure, verifiable and resistant to unauthorized alteration. This capability is essential for applications where data integrity and security are paramount, such as healthcare, finance, and supply chain management.

Over the past few decades, the world has experienced unprecedented urbanization, mainly due to population growth, resource scarcity and climate change with around 54% living in cities according to the UN, which can increase to 66% by 2050. Focus on modern technologies such as blockchain. Providing a sustainable environment is one of the key characteristics of smart cities. With the rapid development of industrial cities, it is important to monitor environmental indicators. A key challenge in environmental monitoring is the collection of real-time data using reliable and accurate monitoring tools. The significant role played by smart city platforms is likely to benefit the market expansion during the forecast period.

North America accounted for the largest revenue share at 34.6% by 2022 and is expected to grow significantly during the forecast period. One of the most important factors driving the growth of the market in this segment is the presence of major players such as IBM Corporation, Microsoft Corporation, Amazon.com, Inc., and Cisco Systems, Inc. Also, the segment is at the forefront of adopting emerging technologies, including blockchain and IoT, which contribute to its growth.