The global blockchain IoT market size is expected to reach USD 12,679.5 million by 2030, growing at a CAGR of 58.2% from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising adoption of decentralized applications (dApps) in the blockchain IoT industry is expected to drive market growth. By combining the advantages of blockchain and IoT, these dApps introduce innovative solutions that significantly improve security, transparency, and operational efficiency across various industries. These emerging trends are anticipated to stimulate the expansion of the market. In addition, the integration of blockchain and IoT is revolutionizing data sharing, transactional trust, and process automation, leading to the emergence of innovative business models and lucrative growth opportunities.
Blockchain IoT Market Report Highlights
- The software & platform component segment accounted for the largest market share of 51.6% in 2022 owing to the increasing adoption of blockchain IoT solutions
- The smart contracts application segment accounted for the largest revenue share of 30.7% in 2022
- The self-execution and automation capabilities of smart contracts in the market are expected to drive the segment growth
- The transportation & logistics vertical segment accounted for the largest revenue share of 21.8% in 2022 due to its properties in creating transparent and immutable records of transactions
- The SMEs segment accounted for the largest revenue share of 60.2% in 2022 due to the increased implementation of the technology to help SMEs meet regulatory compliance requirements
- North America accounted for the largest revenue share of 34.6% in 2022 and is anticipated to witness considerable growth over the forecast period mainly on account of the presence of key market players
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The growing awareness about the vast potential of this technology in numerous areas, such as supply chain management, asset tracking, smart cities, healthcare, and energy management, is also expected to augment the market growth. Several companies focus on launching new products and partnering with key players to cater to the larger customer base and strengthen their foothold in the industry. For instance, in March 2022, IoTex, a modular Web3 infrastructure platform, partnered with Google Cloud, a subsidiary of Google LLC. The collaboration leads to the global expansion of MachineFi, a decentralized finance (DeFi) platform designed specifically for the IoT ecosystem. Moreover, the Google Cloud-based infrastructure will help the company to make MachineFi’s services and apps more secure, scalable, and reliable. Such partnerships by key players are expected to propel the market growth.
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List of Key Players in Blockchain IoT Market
- Intel Corporation
- IBM Corporation
- Microsoft Corporation
- Cisco Systems, Inc.
- The Linux Foundation
- com, Inc.
- KrypC Technologies
- IoTex
- ArcTouch LLC
- R3 LLC
- Chronicled
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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Segmented the global blockchain IoT market based on component, application, organization size, vertical, and region
Table of Contents
Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definitions
1.3 Information Procurement
1.3.1 Information Analysis
1.3.2 Market Formulation & Data Visualization
1.3.3 Data Validation & Publishing
1.4 Research Scope and Assumptions
1.4.1 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.2 Industry Value Chain Analysis
3.3 Market Dynamics
3.3.1 Market Driver Analysis
3.3.2 Market Restraint Analysis
3.3.3 Market Challenges
3.3.4 Market Opportunities
3.4 Industry Analysis Tools
3.4.1 PORTER’S Analysis
3.4.2 MACROECONOMIC Analysis
Chapter 4 Component Estimates & Trend Analysis
4.1 Component Movement Analysis & Market Share, 2022 & 2030
4.2 Blockchain IoT Market Estimates & Forecast, By Component (USD Million)
4.2.1 Hardware
4.2.2 Software & Platform
4.2.3 Services
Chapter 5 Application Estimates & Trend Analysis
5.1 Application Movement Analysis & Market Share, 2022 & 2030
5.2 Blockchain IoT Market Estimates & Forecast, By Content Type (USD Million)
5.2.1 Data Security
5.2.2 Smart Contracts
5.2.3 Asset Tracking & Management
5.2.4 Others
Chapter 6 Organization Size Estimates & Trend Analysis
6.1 Organization Size Movement Analysis & Market Share, 2022 & 2030
6.2 Blockchain IoT Market Estimates & Forecast, By Organization Size (USD Million)
6.2.1 SMEs
6.2.2 Large Enterprises
Chapter 7 Vertical Estimates & Trend Analysis
7.1 Vertical Movement Analysis & Market Share, 2022 & 2030
7.2 Blockchain IoT Market Estimates & Forecast, By Vertical (USD Million)
7.2.1 Transportation & Logistics
7.2.2 Manufacturing
7.2.3 Healthcare
7.2.4 Retail
7.2.5 Consumer Electronics
7.2.6 Smart City
7.2.7 Others
The IoT has brought some drastic changes within the Blockchain technology and distributed ledger technology.
Creating the proper distributed network of devices with IoT solutions is what we attempt for.
From Blockchains to ledgers to exchanges problems, IoT can provide interoperability solutions for Blockchain in any way possible.TokyoTechie.com have set foot in the field of Internet of Things (IoT).Being a leading blockchain IOT development company in Singapore, we confirm that all our services are extremely skilled and solution driven.
Moreover, we have a tendency to confirm whereas delivering our Blockchain solutions, our client support division can continually be on their toes to assist you.How does Blockchain fit in IoT?The security concern within the IoT market remains a huge issue since it exposes multiple devices and a large quantity of information to security breaches.If we take an example, the privacy of data in areas such as healthcare and finance is paramount but if IoT is allowed to regulate these two industries, and multiple devices are allowed inside the system to interchange information, the entry points for hackers will also multiply, thus risking data security.If we talk about the Challenges Faced in IoT, they contain the following points:Exploitation by cyber-crime on IoT devices – Software attacks by malware and viruses and physical attacks through unapproved device control.Network attacks just like the denial of services and wireless vulnerability exploitation.Encryption attacks.Here enters Blockchain technology.
The fact that there are numerous kinds of attacks and threats to keep IoT far from being safe is testimony enough that it needs an external security system to function.
With the increasing proliferation of IoT devices and these devices lack the mandatory authentication standards to keep user information safe, it becomes almost imperative to introduce blockchain with the IoT ecosystem.Steps involved in Blockchain IoTIdentify and Define the ProblemIoT is all about providing solutions to any problem posed in the blockchain technology.
Increase in penetration of LED bulbs and lightings globally and rise in government initiatives toward energy saving measures fuel the growth of the global intelligent lighting controls market.
However, emerging smart city projects in developing economies and growing inclination toward energy-efficient lighting solutions are expected to create multiple opportunities in the industry.According to the report, the global intelligent lighting controls industry was estimated at $7.49 billion in 2019, and is expected to hit $26.06 billion by 2027, registering a CAGR of 17.4% from 2020 to 2027.COVID-19 scenario-The outbreak of the pandemic has impacted the global intelligent lighting controls market badly.
The global lockdown has led to significant decline in the demand for lighting strictures among the end-users.Many companies are reporting difficulties in obtaining raw materials due to a number of reasons such as late deliveries and shortage of shipping capacity.
However, with several government bodies imposing relaxations on the existing regulations, the market is expected to gradually recoup its position in terms of revenue.The sensors segment to lead the trail by 2027-Based on type, the sensors segment contributed to around one-fifth of the global intelligent lighting controls market revenue in 2019, and is expected to lead the trail by the end of 2027.
The same segment is also projected to register the fastest CAGR of 20.4% during the estimated period.
Rapid development of smart sensors fuels the growth of the segment.Read Full News: https://www.alliedmarketresearch.com/intelligent-lighting-controls-market The wired segment to maintain the lion's share-Based on connectivity type, the wired segment accounted for around three-fourths of the global intelligent lighting controls market share in 2019, and is anticipated to rule the roost throughout the forecast period.
In recent years, IoT has changed the world with its ability to touch almost every aspect of life.
This has encouraged businesses to move towards IoT Development Company in India because they present opportunities to gain competitive advantage by collecting data from various points, some controlled by humans and others, automatically.
IoT challengeMost people associate the Blockchain with cryptocurrency, bitcoin, but technology can eliminate threats to data privacy and security in various segments.
It is important to be aware of the various types of challenges faced by IoT solutions to understand how it can help businesses transact in safer environments.Unauthorized device access:Because some IoT-enabled devices use networks, hackers can enter the entire network even through one device that hasn't updated its security system.
Opportunities can arise from something as simple as allowing employees to enter the network using personal devices with weak authentication or through a transfer of data that is not encrypted.
The various objectives that can be served include secure data storage, digital identity, and fraud prevention because technology ensures that after data is recorded and stored; data cannot be changed or damaged.The most widely used Blockchain Development use cases include: Traceability and Security of financial transactions:Ledgers distributed on the Blockchain obtaining records of digital data into a block.
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surely you are already more than familiar with Bitcoin and Blockchain technology as a result of all the noise generated earlier this year.
In this post we tell you what DLTs are and how they differ from Blockchain .What are DLTs and what is their meaningDistributed Ledger Technology (DLT) or distributed ledger technologies are a set of technologies that allow us to design a system structure that allows it to function as a NOT centralized database .
This means that there is no central computer or server that stores the information, making it a more secure system (the database cannot be “hacked” as there is no central computer to attack).Now, not all DLT systems have to be fully decentralized.
This chain ends up generating a linked and non-modifiable record of the information that has been stored in these blocks.Both DLT networks and blockchain networks use protocols of the P2P or peer-to-peer type , which guarantees that the security and immutability standards are very high.
And just as in DLTs there are different degrees of decentralization (complete, distributed or federated), in blockchain networks the exact same thing happens.In short, a DLT network enables the secure operation of a decentralized digital database and where distributed networks eliminate the need for a central authority to control manipulation.How DLT worksDLT allows all information to be stored safely and accurately using cryptography.
It can be accessed through “keys” and cryptographic signatures .
