Blockchain IoT Market Research Report - Global Forecast till 2027

Global Blockchain IoT Market Research Report: By Offering (Hardware, Software, and Services), Application (Data Sharing, Smart Homes, Data Security, Smart Contracts, Asset Tracking and Management, and Others), End-User (Supply Chain and Logistics, Automotive, Healthcare, Manufacturing, Retail, Construction, Government, Energy and Utility and others) and Region (North America, Europe, Asia-Pacific, Middle East, and Africa and South America) - Forecast till 2027

ID: MRFR/ICT/7241-HCR | February 2023 | Region: Global | 110 Pages         

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Blockchain IoT Market

Blockchain IoT Market is projected to exceed USD 124.58 Million by the end of 2027, with a CAGR of 93.4% during the forecast period.
Market Size
Dominating Region
Forecast Period
$124.58 Million
Asia Pacific
By Hardware
By Application
By Software
  • IoT sensors
  • Temperature sensors
  • Motion sensors
  • GPS
  • Connected devices
  • Vehicle information
  • Crypto wallets
  • Data Sharing
  • Smart Homes
  • Data Security
  • Smart Contracts
  • Asset Tracking and Management
  • Technology
  • Consulting service
  • Integration services
  • Support and maintenance
Companies Profiled
Key Players
Intel Corporation (US)
IBM Corporation (US) Inc. (US)
Microsoft Corporation (US)
Cisco Systems (US)
R3 (US)
Chronicled (US)
Ethereum Foundation (Switzerland)
Filament (Nevada)
KrypC (India)
The Linux Foundation (US)
ArcTouch (US)
Filament (Nevada).
Market Driving Forces
High processing power and time requirements
Growing Internet Of Things (IoT) Adoption
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Blockchain IoT Market Overview: The Blockchain IoT Market growth is projected as 93.4% in the forecast period 2025. Blockchain IoT projects is emerging as a powerful market. It is a field that protects the confidential data of the industries. The increasing penetration of IoT is the crucial reason for the high demand for this market. IoT makes every industry effective. The effortless tasks, management operations and secure storage are possible with it. Smart and AI enabled software are useful for any organization. The Blockchain in IoT is one such technology that denies access to third-party sources.With the growing awareness of Blockchain, the development in the market is massive. There is both hardware and software segment of the market. The IoT based hardware devices are integrated with the Blockchain software. Bit deprograms are supportive to secure any organisation data. The motion sensors and crypto segment of the market are gaining more traction. The data sharing and managing operations are secure with the block chin IoT. Large enterprises are rapidly adopting the blockchain IoT solutions. Due to all these factors, the Blockchain IoT market value will grow by 124.58 million. Also, the adoption rate of the market will immensely in the forecast period. 

Blockchain IoT Market Covid Analysis:The outbreak of covid is affecting society and many global industries. The dynamics of the industries are changing during this period. The Internet plays a crucial in sustaining plenty of markets. The reliance on online businesses is rising during this period. The industries such as healthcare, BSFI, automotive, retail, logistics, and manufacturing are highly dependent internet.

Through online they are leveraging their services to the customers. Due to this, the demand for the market is increasing. However, still, there are few challenges in the market due to the pandemic. The supply chain disruptions of the market are affecting the delivery of IoT hardware devices. The adoption rate of the Blockchain solutions will be moderate from the healthcare and BFSI sector. In the upcoming years, market operations will resume gradually. There is more scope for the market in the forecast period due to the launch of IoT sensors

Market Dynamics:Crucial Market Driver:The growing requirement for IoT in many industries is the crucial driver for the market. The use of IoT is necessary for a wide range of applications. It is useful for smart cities, vehicular connectivity, smart homes and other devices. Also, the prevalence o IoT is leading to many cyber-attacks and data threats. The connected devices are prone to advance cyber threats. Denial of service, data breach, insecure ecosystem bonnet attacks is common issues in IoT. However, with the help of Blockchain, it is possible to decentralize the IoT network.

The requirement for central system handling is not required with the integration of IoT with Blockchain. Blockchain prevents the market from illegal activities and access to IoT. It quickly denies any third party source from accessing the IoT. It stabilized layers of data protection for the industry. The need for the security of IoT in the organisation is driving the growth of the market. Robust encryption, transparency, and secured access are possible through this technology. All the factors will contribute to Blockchain IoT Market ProfitAlso, the market expansion rates are higher due to all these factors. 

The Market Growth Opportunities:Smart contracts are the advanced range of technology in the Blockchain IoT market. The smart contract is a crucial application that is the key component of the Blockchain market future. Also, there are plenty of Blockchain platforms advancing with smart contract technology. Smart contracts contain the terms and condition that helps the parties to trust each other.

It provides visibility and transparency to any contract. The Blockchain IoT market can gain a wide range of benefits when adopting the smart contacts feature. The adoption rate of the market will improve as it will attract new end users. Also, the efficiency of the industries will enhance due to this integration. Today, many Blockchain industries are adopting custom smart contracts technology. It will benefit the industry by notifying breaches, preventing manipulation, and sensors in the system will provide a real-time update. The risks in the industry can be minimized with blockchain technologies and smart contract combinations. 

The Market Restraints:The IoT technology is highly diverse. The integration of the Blockchain with IoT poses plenty of difficulties. There are many challenges in the scalability of the market. The Blockchain IoT system deals with massive amounts of data. The time to manage, process and encrypt this data is massive.

Storage is another major issue in this market. Storing and maintaining big data is complex. The IoT and Blockchain are emerging technologies. However, the combination of these technologies is developing. There are still plenty of complexities in these technologies. The less adoption of both these technologies stagnates development. 

The Market Challenges:The lack of awareness about Blockchain IoT technology is hampering the overall market growth. There is less awareness about this solution even in the areas that have a high demand for such technologies.

The benefits and use of this technology are still unknown in many verticals. It can lead to less rate of investment for the market. In the Forecast period, it can affect the demand rate of the market. Also, it can slow down the overall adoption of blockchain-based cloud service in upcoming years. The potential of the technology in businesses is massive. Hoverer, lack of awareness can lead to less growth. 

Cumulative Growth Analysis:The growth rate of the blockchain-based IoT solutions is booming. TheBlockchain IoT Market Trends are exceptional for the forecast period. There are plenty of factors propelling the overall growth of the market. The need for IoT security is driving demand for this market. IoT is a developing platform with plenty of potentials. The devices are prone to cyber-attacks. Blockchain can offer plenty of security and safety to the platform. 

It can protect confidential information from the breach. IoT denies access from third parties. All these factors contribute to the growth of the IoT Blockchain market. Further, the launch of smart contracts will bring refreshing growth opportunities. The demand will reach the highest amount due to this excellent opportunity. However, the complexities in data handling are a restraining factor of the market. Also, there is a serious need to fix the lack of awareness issues. However, Blockchain IoT Market Analysis shows a promising trend. 

Value Chain Analysis:The Asia Pacific will dominate with Blockchain IoT Market Share. The adoption of technology rapidly increasing in this region. During the Blockchain, IoT Market Forecast Asia pacific will witness the highest growth rate.

Also, the profitability of the market will reach the top rate. The investment of Blockchain IoT is massive in this region. Chain, India and Japan are the key contributors to the overall market growth. The integration of Blockchain with IoT will increase trust in enterprise technologies. There are plenty of other factors that drive demand in this region. 

Segment Outlook:

By Hardware Outlook:

  • IoT sensors 

  • Temperature sensors 

  • Motion sensors 

  • GPS 

  • Connected devices 

  • Vehicle information 

  • Crypto wallets 

By Software Outlook: 

  • Technology 

  • Consulting service 

  • Integration services 

  • Support and maintenance 

By Applications Insights:

  • Smart contracts data sharing 

  • Tracking application 

  • Communication 

  • Asset management 

By Organization Outlook:

  • Small-medium size organisation 

  • Large scale orgnsiations 

By Vertical Outlook: 

  • Energy and utilities 

  • Retail 

  • Healthcare 

  • Logistics 

  • Transportation 

  • Smart city 

  • Wearable device 

Competitive Landscape:

The competition in the Blockchain IoT market is massive. The market expansion, acquisition and partnerships for the market are constantly increasing. Also, the developments in the competitive landscape are high. There are new strategies in the competitive landscape that will happen during the forecast period. 

Regional Insights:

The Blockchain IoT market is diversified into Asia Pacific, North America and Europe. The Asia Pacific will lead the other Blockchain IoT Businesses. The need for Blockchain and IoT is high in this region. Also, the combination of the technology increases operational efficiency. North America will have high demand.

Also, the investment rate in this region is high during the forecast period. The rising security issues in enterprises are leading to more Blocking IoT market growth. Further, Europe is facing moderate demand for the market. All these regions will contribute the highest revenue to the growth of Blockchain IoT Market Size. 

The key players of the Blockchain IoT market are 

  • Grid+

  • NetObjex 

  • Microsoft 

  • Ambrosus 

  • Intel 

  • Atonomi 

  • Huawei 

  • IBM

  • KrypC

  • Ethereum Foundation

  • Chronicled

  • The Linux Foundation

  • Factom

  • Arctouch

  • Waltonchain

Recent Developments:The key players of the market are expanding the market with AR, edge computing, workplace reality and other features in the software. The key players are introducing cloud computing in the Blockchain IoT platform. 

Report Overview:

  • Market overview highlights 

  • Analysis based upon COVID 19

  • Explanation upon the Market Dynamics

  • Value chain analysis

  • Market segmentation overview

  • The regional analysis

  • Competitive landscape analysis

  • Recent Developments

Report Scope:

Report Attribute/Metric Details
  Market Size   USD 124.58 Million (2019)
  CAGR   93.4% (2019-2025)
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   By Offering, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Intel Corporation (US), IBM Corporation (US),, Inc. (the US), Microsoft Corporation (US), Cisco Systems (US), R3 (US), Chronicled (US), Ethereum Foundation (Switzerland), Filament (Nevada), KrypC (India), The Linux Foundation (US), ArcTouch (US), Filament (Nevada).
  Key Market Opportunities   The IoT provides a wide number of opportunities for the various businesses to run their operations smartly and blockchain has tremendous potential for various industries including BFSI, automotive, manufacturing, and healthcare.
  Key Market Drivers   High processing power and time requirements and higher latency with an increase in the number of nodes are expected to hamper the market growth during the forecast period.

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Frequently Asked Questions (FAQ) :

The global blockchain IoT market is expected to reach at USD 124.58 Million by the end of 2027 with a CAGR of 93.4% during 2020-2027

The key players in blockchain IoT market are The - Grid+, NetObjex, Microsoft, Ambrosus, Intel, Atonomi, Huawei, IBM, KrypC, Ethereum Foundation, Chronicled, The Linux Foundation

Offering, Application, End User are the segments of the market.

North America is going to have the largest market share as it is the early adopter of IoT and blockchain.

The major driving factors of the blockchain IoT market’s growth are the budding adoption of IoT and the need to enhance operational efficiency.

High processing power and time requirements and higher latency with a surge in the number of nodes are factors hampering the market growth.