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 Updates

Skyquest Technology's expert advisors continuously track and analyze the latest developments and updates related to blockchain iot market. Our team of analysts stay abreast of all the recent news stories shaping the industry including new product launches by major companies, strategic partnerships, M&As, Patent filings and industry and regulatory developments.

Blockchain IoT Market News

In February 2023, Conflux Networks partnered with China Telecom to develop blockchain-based SIM cards. Conflux Network, a blockchain protocol, will produce blockchain-based SIM cards in partnership with China Telecom, one of the country’s largest wireless providers, with an estimated 390 million users.
In November 2022, China's national blockchain infrastructure, Xinghuo Blockchain Infrastructure and Facility, and Malaysia's digital services provider MY EG, Services Berhad (MyEG) signed an agreement to acquire and operate an "international supernode", while Beijing expand its international blockchain.
May 2022 - IBM partnered with Web3 to create a digital native experience, accelerating and evolving the future of business blockchain. Hybrid enterprise blockchain solutions can help businesses achieve new business outcomes, such as premium security, privacy, auditable compliance, competitive advantage protection and market flexibility can help the company gain a competitive edge benefit. With reduced friction, reduced costs and efficiencies, a single source of truth is visible to all involved members in real time.

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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.