Global Blockchain IoT Market Research Report: By Offering (Hardware, Software, and Services), Application (Data Sharing, Smart Homes, Data Security

NEW YORK CITY, NEW YORK, UNITED STATES, April 13, 2023/EINPresswire.com/ -- Market Research Future Highlights

The blockchain IoT market is a rapidly growing industry that combines two of the most innovative and disruptive technologies of our time. The Internet of Things (IoT) refers to the interconnection of devices, sensors, and systems that collect and share data with each other over the internet. Blockchain technology, on the other hand, is a distributed ledger that records transactions and ensures their immutability and transparency.

The global "blockchain IoT market size" is expected to grow from USD 258 million in 2022 to USD 128.6 Billion by 2030, at a compound annual growth rate (CAGR) of 92.30% during the forecast period. The increasing adoption of IoT and "blockchain technologies", growing demand for IoT security, and rising need for transparency and immutability in transactions are some of the key factors driving the growth of the market.

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Regional Analysis

The blockchain IoT market is a global market, and its growth is being witnessed in various regions of the world. North America, Europe, Asia Pacific, and the Rest of the World (RoW) are the major regions where the blockchain IoT market is being adopted and implemented.

North America holds the largest share in the blockchain IoT market due to the presence of major players, such as IBM Corporation, Amazon Web Services, and Microsoft Corporation, and the early adoption of advanced technologies in the region. Moreover, the region has a strong ecosystem for blockchain and IoT startups, and favorable government initiatives supporting the growth of the market.

Europe is also witnessing significant growth in the blockchain IoT market, owing to the increasing adoption of IoT and blockchain technologies in industries such as healthcare, automotive, and manufacturing. The region is also witnessing rising investments in the development of blockchain IoT platforms and services.

The Asia Pacific region is expected to witness the fastest growth in the blockchain IoT market during the forecast period. The increasing adoption of IoT and blockchain technologies in countries such as China, Japan, and South Korea, the growing number of startups in the region, and the supportive government initiatives are some of the factors driving the growth of the market in the region.

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The Rest of the World (RoW) region, which includes Latin America, the Middle East, and Africa, is also witnessing growth in the blockchain IoT market. The region is witnessing the adoption of blockchain IoT technologies in industries such as agriculture, logistics, and energy, among others. The increasing awareness about the benefits of blockchain IoT technologies and the growing investments in the development of blockchain IoT platforms and services are some of the factors driving the growth of the market in the region.

Key Players

Some of the key players in the blockchain IoT market include:

• IBM Corporation
• Amazon Web Services, Inc.
• Microsoft Corporation
• Intel Corporation
• Cisco Systems, Inc.
• SAP SE
• Huawei Technologies Co., Ltd.
• Oracle Corporation.

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Market Segmentation

The blockchain IoT market can be segmented on the basis of component, application, end-user, and region.

Based on component, the blockchain IoT market can be segmented into software, hardware, and services. The software segment is expected to hold the largest market share, as blockchain IoT software is crucial for managing and securing IoT devices and data.

Based on application, the blockchain IoT market can be segmented into smart contracts, data security, asset tracking and management, logistics and supply chain management, energy and utilities, and others. The logistics and supply chain management segment is expected to hold the largest market share, as the blockchain IoT can improve the efficiency, transparency, and security of supply chain processes.

Based on end-user, the blockchain IoT market can be segmented into healthcare, manufacturing, energy and utilities, automotive, retail, and others. The manufacturing segment is expected to hold the largest market share, as the blockchain IoT can help in improving the efficiency and transparency of manufacturing processes.

Based on region, the blockchain IoT market can be segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America is expected to hold the largest market share, followed by Europe and Asia Pacific.
Overall, the segmentation of the blockchain IoT market allows for a better understanding of the specific needs and preferences of various customer groups, enabling businesses to tailor their products and services accordingly.

Blockchain IoT Market - "Press Release"

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