Blockchain IoT Market is predicted to reach USD 179.79 Billion at a CAGR of 92.30% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published a cooked research report on the “Global Blockchain IoT Market” that contains information from 2018 to 2032. The Blockchain IoT market is estimated to register a CAGR of 92.30% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Blockchain IoT market— IBM Corporation (US), KrypC (India), Ethereum Foundation (Switzerland), and Intel Corporation (US).

Market Highlights

The global Blockchain IoT market is accounted to register a CAGR of 92.30% during the forecast period and is estimated to reach USD 179.79 Billion by 2032.

The Blockchain IoT market combines the principles of blockchain technology and the Internet of Things (IoT) to enhance security and transparency in the management and communication of IoT devices and data. It involves using decentralized ledgers to record and verify transactions and interactions among connected devices, ensuring data integrity and reducing vulnerabilities in IoT ecosystems.

Segment Analysis

The global Blockchain IoT market has been segmented based on Offering, Application, and End-User.

On the basis of offerings, the market is segmented into hardware, software, and services. The market was led by the software category, which brought in $0.3 billion or 53.6% of total market revenue. The increased focus on software development for deploying blockchain IoT is the primary factor driving the largest market share for the software sector.

Based on Application, the global Blockchain IoT market has been segmented into smart homes, data sharing, smart contracts, data security, asset tracking and management, and others. Since it offers numerous benefits, such as the autonomous execution of particular actions, corporate partnerships, and commercial agreements, the smart contracts category holds the largest market share.

Based on End User, the global Blockchain IoT market has been segmented into automotive, supply chain and logistics, manufacturing, healthcare, construction, retail, government, energy and utility and others. In 2022, the construction industry dominated the market. Smart home equipment are made immutable and secure from cyberattacks thanks to blockchain technology.

Regional Analysis

The global Blockchain IoT market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Blockchain IoT market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Blockchain IoT market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Blockchain IoT market comprises of Middle East, Africa, and Latin America.

The Asia-Pacific Blockchain IoT Market dominated this market in 2022 Due to its rapid technological adoption, welcoming governmental policies, and increasing ICT investment, the Asia-Pacific Blockchain IoT Market region would lead this market. Singapore uses blockchain technology the most in the financial, medical, and international payments sectors.

Additionally, the second-largest market share belongs to the blockchain IoT market in North America. The local market is expanding due to the widespread usage of modern IoT. There were 2.9 billion IoT connections in the region in 2019, and the number is expected to rise to 5.4 billion by 2025, according to the GSM Association's publication Mobile Economy 2020. The region's financial stability has also facilitated the adoption of the most advanced IoT devices and created a number of opportunities for new investments.

Moreover, from 2023 to 2032, Europe's Blockchain IoT Market is anticipated to grow quickly between 2023 and 2032 due to the presence of significant businesses. Businesses in the area are using blockchain technology more regularly, which is causing the regional economy to grow. Another significant indicator of the regional market's growth is the spike in consumer cryptocurrency use. Additionally, the German IoT blockchain

Key Findings of the Study

• The global Blockchain IoT market is expected to reach USD 179.79 Billion by 2032, at a CAGR of 92.30% during the forecast period.


• The Asia-Pacific Blockchain IoT Market dominated this market in 2022 Due to its rapid technological adoption, welcoming governmental policies, and increasing ICT investment, the Asia-Pacific Blockchain IoT Market region would lead this market.


• Based on End User, in 2022, the construction industry dominated the market.


• IBM Corporation (US), KrypC (India), Ethereum Foundation (Switzerland), and Intel Corporation (US).