Global Blockchain IoT Market

Blockchain IoT Market Size, Share, Growth Analysis, By Component(Hardware, Software), By Application(Data security, Asset management and tracking) - Industry Forecast 2024-2031

Report ID: SQMIG45A2041 | Region: Global | Published Date: March, 2024
Pages: 197 | Tables: 64 | Figures: 75

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Blockchain Iot Market size was valued at USD 543.19 million in 2022 and is poised to grow from USD 788.17 million in 2023 to USD 15486.69 million by 2031, at a CAGR of 45.10% during the forecast period (2024-2031).

blockchain iot market is highly competitive with the presence of local as well as 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.com, Inc. ', ' Cisco Systems, Inc. ', ' Huawei Technologies Co., Ltd. ', ' Oracle Corporation ', ' SAP SE ', ' Accenture plc ', ' PTC Inc. ', ' Blockchain IoT Solutions Inc. ', ' Filament ', ' Helium Systems Inc. ', ' Chronicled Inc. ', ' Factom Inc. ', ' Chain of Things Ltd. ', ' Ethereum ', ' IOTA Foundation ', ' Xage Security Inc. ', ' Weeve GmbH  '

Growing need for IoT security

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.

On the basis of 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.

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Global Blockchain IoT Market

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