WESTFORD, Mass., June 26, 2024 /PRNewswire/ -- According
to SkyQuest, the global 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 16753.39
Million by 2031, at a CAGR of 50.67% during the forecast
period (2024-2031).
Blockchain IoT refers to the use of decentralized servers and
Blockchain networks to create secure and tamper-proof records of
data generated and shared by IoT devices. Advancements in Internet
of Things (IoT) technologies and growing acceptance of Blockchain
technology are also forecasted to benefit blockchain IoT market
growth. The global blockchain IoT market is segmented into
component, application, and region.
Download a detailed overview:
https://www.skyquestt.com/sample-request/blockchain-iot-market
Blockchain IoT Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 630.79 Million
|
Estimated Value by
2031
|
$ 16753.39 Million
|
Growth
Rate
|
Poised to grow at a
CAGR of 50.67%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and
Trends
|
Segments
Covered
|
Component, Application,
Organization Size and Industry Vertical
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Updated financial
information / product portfolio of players
|
Key Market
Opportunities
|
Rising Adoption of IoT
Devices
|
Key Market
Drivers
|
Rising Smart Cities
Worldwide
|
Segments covered in Blockchain IoT Market are as
follows:
- Component
- Hardware, Software & Platform, and Services
- Application
- Smart Contracts, Data Security, Data Sharing/Communication,
Asset management and tracking, and Others
- Organization Size
- SMEs, and Large Enterprises
- Industry Vertical
- Energy and Utilities, Transportation and Logistics,
Manufacturing, Building Management, Healthcare, Retail, Wearable
and Mobile Devices, Smart City, and Others
Request Free Customization of this report:
https://www.skyquestt.com/speak-with-analyst/blockchain-iot-market
Blockchain IoT is a More Software Critical Affair
Software plays a vital role in enabling blockchain IoT solutions
and this is why most blockchain IoT providers are focusing on this
sub-segment. Growing investments in the development of novel
blockchain IoT software solutions to help satiate the demand for
better and secure IoT data storage and transfer solutions will help
this segment boost market growth.
The rising need for specialized hardware components that are
suited for optimal utilization of Blockchain and IoT technologies
will bolster market development via the hardware sub-segment.
Demand for better sensors, transmitters, and network components are
controlling blockchain IoT market growth via the hardware
sub-segment. Meanwhile, the services segment is projected to emerge
as highly lucrative by the end of the forecast period when
blockchain IoT adoption starts reaching its actual potential.
Established blockchain IoT companies will benefit the most from the
services segment but new companies can also penetrate this segment
through unique offerings in the long run.
View report summary and Table of Contents (TOC):
https://www.skyquestt.com/report/blockchain-iot-market
Smart Professional Robots to Bring in Most Revenue for
Blockchain IoT Manufacturers
Asset tracking and management is a key application for
blockchain IoT companies. Growing emphasis on managing and tracking
physical assets in different industry verticals owing to rising
crime rates and issues of robberies and break-ins will help
blockchain IoT demand. The transportation and logistics industry
will be vital for blockchain IoT companies looking to expand their
presence through asset tracking and management applications.
Smart contracts are gaining massive popularity around the world
owing to their highly attractive nature of executing contracts when
the conditions of the contract are met. This eliminates the need
for human intervention in contract management and fulfillment.
Deployment of blockchain IoT for smart contracts will help bolster
the security of smart contracts and also secure their fulfillment
without the risk of being hacked.
The increasing incidence of cyberattacks and data breaches
around the world is also estimated to bolster the demand for
blockchain IoT in data security applications. The growing need for
transparency and efficiency in data storage and transfer around the
world is also projected to create new opportunities for blockchain
IoT adoption. Rising use of cloud technologies is also estimated to
help promote blockchain IoT use data sharing applications over the
coming years.
To sum it up, the global blockchain IoT market provides
attractive opportunities in all of its segments and sub-segments as
the technology is still in its initial stages of adoption.
Investing in the services sub-segment is a long-term game but
software and hardware segments are projected to be highly lucrative
for all blockchain IoT companies. Smart contracts and asset
tracking & management are application segments that could bring
in a boatload of revenue for new as well as established blockchain
IoT companies in the future. Market players should keep a close eye
on Blockchain and IoT technology development to harness the full
potential of this market.
Related Report:
Blockchain Market
Blockchain as a Service Market
Internet Of Things (IoT) Market
Fintech Blockchain Market
Blockchain In Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj
Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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