Blockchain IoT Market is anticipated to grow USD 124.58 Million at a CAGR of 93.4% by 2027 – Report by Market Research Future (MRFR)

Market Research Future Insights

According to MRFR analysis, the global Blockchain IoT Market is expected to register a CAGR of ~ 93.4% from 2020 to 2027 and hold a value of over USD 124.58 million by 2027.

The growth of the blockchain IoT market is driven by the rising adoption of the Internet of Things (IoT), the rising focus on operational efficiency, and the growing requirement for IoT security. The COVID-19 pandemic has obstructed almost all businesses, although the significance has not been the same. The epidemic and the following lockdown have made a contrary impact on numerous industries and a substantial stoppage in technology expenditure is expected in blockchain technology expansion as well.

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Blockchain IoT Market Report Scope: 

Earlier in the epidemic, numerous agencies expected a significant venture into blockchain technology. The Internet of Things will be vital to the long-term retrieval plans of the post-COVID-19 economy globally, yet certain facets of the Internet of Things itself will be unenviably impacted shortly. Although the current disturbance owing to the prevalent epidemic may pose challenges to the blockchain business in a short time, it will also disclose new opportunities in the middle and longer period.

Regional Analysis

The Asia Pacific is dominating the market and will lead the other Blockchain IoT Businesses. The essential for Blockchain and IoT is high in this region. Also, the mixture of the technology increases operational efficiency. North America will have maximum demand. Also, the investment rate in this region is high during the estimated period. The increasing security issues in enterprises are leading to more Blocking IoT market growth. Further, Europe is facing modest demand for the market. All these regions will contribute the maximum revenue to the growth of the Blockchain IoT Market. 

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Market Segmentation

The Global Blockchain IoT Market has been segmented into Offering, Application, and End-user

Based on Offering, The Global Blockchain IoT Market has been segmented into Hardware, Software, and Services

Based on Application, The Global Blockchain IoT Market has been segmented into Data Sharing, Smart Homes, Data Security, Smart Contracts, Asset Tracking and Management, and Others

Based on End-User, The Global Blockchain IoT Market has been segmented into Supply Chain and Logistics, Automotive, Healthcare, Manufacturing, Retail, Construction, Government, Energy and Utility, and others

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Key Players

Some of the key market players are R3 (US), Chronicled (US), Ethereum Foundation (Switzerland), Filament (Nevada), KrypC (India), The Linux Foundation (US), ArcTouch (US), Intel Corporation (US), IBM Corporation (US), Amazon.com Inc. (US), Microsoft Corporation (US), Cisco Systems (US), and Filament (Nevada).

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