Blockchain IoT Market Is Expected To Reach US$ 9,070.4 Mn by year 2027

According to a new market research report published by Acute Market Reports, “Blockchain IoT Market – Growth, Future Prospects, and Competitive Landscape, 2019 -2027”, the global IoT blockchain market was valued at US$ 37.4 million in 2018 and is expected to reach US$ 9.070.4 million by 2027, increasing to CAGR by 60.6 percent from 2019 to 2027.

Market Insights

Rising Penetration of IoT Connected Devices across the World will uplift the demand for Blockchain IoT during the Forecast Period

The advent of the Internet of Things (IoT) has increased the number of industries since its introduction, and the demand for IoT continues to increase at a rapid pace. Globally, IoT connected devices have surpassed the installed bases from 7 Bn in 2018 to 21,5 Bn in 2025. However, due to its traditional architecture, IoT still faces difficulties in resolving security and privacy issues. In addition, increasing cases of data breaches have forced businesses to think about a new model or architecture. Blockchain has proven to be a game-changer for IoT that uses distributed ledger technology to solve security challenges.

Browse Full Report Originally Published by Acute Market Reports at https://www.acutemarketreports.com/report/blockchain-iot-market

The global IoT blockchain market is highly competitive due to the emergence of new players and start-ups on the market. In addition, some blockchain players and IoT solution providers are joining forces to provide a more effective and secure solution. This coming market trend is set to significantly increase market competition.

Industrial Developments

• On April 01, 2019, Filament, a blockchain solution provider for IoT, announced the launch of the new Blockley Foundation Kit. The kit was designed for hardware and embedded developers those focusing on IoT. The kit will demonstrate users the smart contract functions along with this it also helps in generating IoT blockchain transaction.
• On February 01, 2019, MXC Foundation and Enlink Midstream announced their collaboration to provide MXProtocol for smart city hardware of Enlink Midstream in South Korea.
• On August 09, 2018, IBM Corporation and Maersk A/S joined their hands to develop a blockchain-enabled shipping solution named ‘TradeLens’. The solution will enhance the secured and efficient trade worldwide by bringing various players together at one platform to share information securely and uplift the industry-wide innovation.

Key Market Movements:

• Globally, the blockchain IoT market projected to witness a CAGR of 60.6% during the forecast period from 2019 to 2027
• Major factors driving the blockchain IoT market are rising adoption of IoT connected devices, growing security concern for IoT devices, and shifting focus towards operational efficiency
• A smart city is the most lucrative end-user segment in the global blockchain IoT market owing to the significant adoption of blockchain solutions for enhancing security in the running smart city projects
• The significant growth of blockchain IoT in the Asia Pacific region is mainly attributed to the increasing penetration of blockchain IoT solutions in various verticals along with favorable economic situations for the adoption of new solutions
• North America held a substantial share in the global blockchain IoT market owing to the presence of global IoT leaders coupled with prior adoption of blockchain solutions in the region

List of Companies Covered:

• IBM Corporation
• Microsoft Corporation
• Intel Corporation
• Amazon.com Inc.
• Cisco Systems Inc.
• Ethereum Foundation
• The Linux Foundation
• R3 LLC
• Filament
• KrypC Technologies

Market Segmentation

By Offering Segment

 • Hardware

 • Software

 • Infrastructure Provider

By Application Segment

 • Data Security

 • Smart Contacts

 • Asset Tracking and Management

 • Data Communication/Sharing

 • Others (real-time workforce tracking, and workforce management)

By End-user Segment

 • Transportation and Logistics

 • Energy and Utility

 • Manufacturing

 • Retail

 • Building Management

 • Smart City

 • Healthcare

 • Wearable and Mobile Devices

 • Others (food, pharmaceuticals, mining, agriculture, construction,     and real estate)

By Geography Segment Type

• North America (the U.S., Rest of North America)
• Europe (U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, Japan, India, Rest of Asia Pacific)
• Rest of the World (the Middle East & Africa, Latin America)