China Blockchain IoT Market Research Report By Application (Supply Chain Management, Healthcare, Smart Cities, Energy Management, Agriculture), By Technology (Public Blockchain, Private Blockchain, Hybrid Blockchain, Blockchain as a Service, Permissioned Blockchain), By End Use (Industrial, Commercial, Residential, Government, Transportation), and By Connectivity (Wireless Connectivity, Wired Connectivity, Bluetooth Connectivity, Cellular Connectivity, LPWAN Connectivity)- Forecast to 2035

China Blockchain IoT Market Overview

As per MRFR analysis, the China Blockchain IoT Market Size was estimated at 350.78 (USD Million) in 2023.The China Blockchain IoTMarket is expected to grow from 570(USD Million) in 2024 to 3,720 (USD Million) by 2035. The China Blockchain IoT Market CAGR (growth rate) is expected to be around 18.593% during the forecast period (2025 - 2035).

Key China Blockchain IoT Market Trends Highlighted

The swift development of technology and the nation's deliberate emphasis on digital innovation are driving notable trends in the China Blockchain IoT market. The government has been promoting digital transformation in a number of industries, which encourages the use of blockchain technology in conjunction with Internet of Things applications.Initiatives like the "14th Five-Year Plan," which places a strong emphasis on advanced manufacturing and the integration of the digital economy, demonstrate the significance of these technologies in China's economic strategy.

The benefits of blockchain's increased security and transparency are becoming more widely acknowledged, especially in industries where data integrity is crucial, such supply chain management, healthcare, and energy.There are several opportunities in the Chinese market as businesses look to use blockchain technology to increase data accuracy and operational efficiency. Blockchain technology might greatly improve new applications in smart cities, as IoT devices gather vast volumes of data.

Furthermore, there is a favorable climate for startups and established businesses to work together, innovate, and build ground-breaking solutions that leverage the potential of blockchain and IoT to solve regional problems because the government is encouraging the growth of a strong digital infrastructure.

Current patterns suggest that people are becoming more conscious of how blockchain technology might simplify procedures and cut expenses in a variety of sectors. To investigate the useful uses of blockchain in IoT, several industries are experimenting with pilot projects and collaborations.

Furthermore, blockchain's capacity to offer real-time resource monitoring and traceability fits in nicely with the growing interest in sustainability. The confluence of blockchain and IoT in China is anticipated to continue developing as a result of the focus on creating a resilient digital economy, opening the door for revolutionary shifts in the way various sectors function and interact with customers.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

China Blockchain IoT Market Drivers

Government Initiatives and Support

The Chinese government has recognized the potential of Blockchain and Internet of Things (IoT) technologies as vital components of its economic transformation strategy. With the introduction of the 'New Infrastructure' policy, China aims to facilitate the integration of advanced technologies.

Investment in Blockchain initiatives is projected to exceed 1 billion USD as part of several national projects by 2025, aiming to enhance connectivity and efficiency in various sectors. This financial commitment emphasizes the government's role in driving technological adoption and fostering an ecosystem for China's Blockchain IoT Market.

Established state-owned enterprises such as China Telecom and China Mobile have begun pilot projects that showcase the benefits of Blockchain combined with IoT in smart cities and supply chain management, reinforcing the value proposition for enterprises and boosting market growth.

Based on a report from the Ministry of Industry and Information Technology, over 60% of major enterprises in China are expected to adopt Blockchain technologies within the next 5 years, indicating a robust push towards digital transformation.

Increased Demand for Enhanced Security

The growing prevalence of cyber threats has elevated the demand for secure IoT solutions across various industries in China. As reported by the China Cybersecurity Technology Innovation Strategy, nearly 30% of Chinese businesses have faced significant financial losses due to security breaches in IoT systems.

This alarming trend is propelling companies to seek Blockchain solutions as a means to enhance the security of their IoT networks. Major tech players like Baidu and Tencent are investing heavily in developing Blockchain platforms to secure data integrity and reduce vulnerabilities within their IoT infrastructure.

By integrating Blockchain with IoT, businesses are able to create immutable records and ensure secure data exchanges, leading to a more resilient and trustworthy ecosystem in the China Blockchain IoT Market.

Growing Adoption of Industry 4.0 Initiatives

China's focus on transitioning to Industry 4.0 is a significant driver for market growth in Blockchain and IoT technologies. The State Council of China anticipates that by 2025, the manufacturing sector will see significant enhancements in operational efficiency through automation and data exchange.

As industries shift towards smart manufacturing, the demand for interconnected devices supported by Blockchain technology is expected to soar. Companies like Haier and Siemens are already implementing Blockchain solutions for enhanced supply chain transparency and operational efficiencies.

By 2030, the integration of IoT with Blockchain is forecasted to contribute over 850 billion USD to China's manufacturing output, highlighting the substantial economic impact and future prospects for the China Blockchain IoT Market.

China Blockchain IoT Market Segment Insights

Blockchain IoT Market Application Insights

The Application segment of the China Blockchain IoT Market is gaining traction as organizations leverage the capabilities of blockchain technology to enhance operational efficiency and data security across various sectors.Within this segment, significant applications include Supply Chain Management, where transparency and traceability are paramount, helping to eliminate counterfeit goods and ensuring the authenticity of products.

In the Healthcare sector, blockchain technology secures sensitive patient data while enabling seamless sharing of health records among authorized parties, which streamlines workflows and enhances patient care. Smart Cities are another noteworthy application, as cities integrate IoT and blockchain to optimize resource management, increase transparency in governance, and improve overall urban living.

The importance of Energy Management cannot be overstated; it utilizes blockchain to facilitate decentralized energy trading and enhance the distribution of resources, making energy procurement more efficient and sustainable.Agriculture stands out as it employs blockchain for traceability in food supply chains, ensuring the quality and origin of products, thereby bolstering consumer trust. Collectively, these applications highlight the significance of the China Blockchain IoT Market in driving innovation, improving productivity, and creating new opportunities for growth.

As businesses in China continue to invest in these technologies, the potential for market expansion and enhancement of service delivery remains substantial, driven by ongoing advancements in technology and increasing consumer expectations for transparency and efficiency.

With the government's support for digital initiatives and technological advancements, the Application segment is poised for continuous development as industries adapt to integrate blockchain solutions into their operations effectively.Overall, these insights into the Application segment illustrate the transformational impact of blockchain technology on various industries across China, underscoring its role as a catalyst for digital innovation.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Blockchain IoT Market Technology Insights

The Technology segment of the China Blockchain IoT Market encompasses various forms of blockchain, each offering unique advantages that cater to different industry needs. Public Blockchain is gaining traction for its transparency and decentralized nature, appealing to sectors prioritizing openness.

In contrast, Private Blockchain provides enhanced control and privacy, making it an ideal choice for enterprises requiring stringent data security. Hybrid Blockchain combines features from both public and private networks, offering flexibility and scalability to overcome various operational challenges.

Additionally, Blockchain as a Service has emerged as a convenient solution for companies looking to implement blockchain without heavy investments in infrastructure, enabling easier adoption in the rapidly evolving tech landscape of China.

Permissioned Blockchain solutions play a critical role in sectors such as finance and supply chain, where authorized access and compliance with regulations are crucial. Overall, the segment is shaped by growing concerns over data integrity, security, and the necessity for real-time tracking, reflecting the dynamic nature of technology development in China’s blockchain ecosystem.The interplay of these various blockchain types contributes significantly to the market’s robustness and diversity, driving substantial progress and innovation.

Blockchain IoT Market End Use Insights

The China Blockchain IoT Market is experiencing significant growth across various end-use segments, which are instrumental in shaping the overall landscape of this evolving industry. The industrial sector is driving substantial advancements, utilizing Blockchain IoT solutions for supply chain management and operational efficiencies.

In the commercial domain, businesses are leveraging these technologies to enhance transaction security and data integrity. The residential segment is seeing an increase in smart home applications, where Blockchain is playing a pivotal role in securing user data and automating processes.

Government initiatives are focusing on integrating Blockchain IoT for improved public services and governance, highlighting its importance in fostering transparency and accountability. Transportation stands as another crucial area where Blockchain IoT is enhancing logistics, fleet management, and vehicle tracking.

The combination of these end-use applications not only underscores the versatility of the China Blockchain IoT Market but also illustrates considerable opportunities for innovation and improvement in operational efficiencies across different sectors.

The market growth is propelled by rising demand for secure data exchange, increased automation, and the need for effective resource management, creating a compelling environment for continued enhancement and adoption of Blockchain IoT technologies in China.

Blockchain IoT Market Connectivity Insights

The Connectivity segment of the China Blockchain IoT Market plays a crucial role in enhancing communication and data exchange for various IoT applications.This segment encompasses several types of connectivity, including Wireless Connectivity, Wired Connectivity, Bluetooth Connectivity, Cellular Connectivity, and LPWAN Connectivity, which collectively facilitate the seamless functioning of smart devices and systems.

Wireless Connectivity dominates this landscape due to its flexibility and the rapid adoption of wireless technologies across industries such as manufacturing, healthcare, and logistics. Wired Connectivity remains significant for stable and secure connections in environments where latency and security are paramount.

Bluetooth Connectivity is vital for short-range communications, particularly in smart home applications, while Cellular Connectivity allows for extensive coverage and mobility, making it essential for applications requiring real-time data transmission.

LPWAN Connectivity caters to low-power devices and long-distance communication, proving essential for various IoT applications in agriculture and smart cities. Overall, the Connectivity segment is pivotal in driving the growth and adoption of the China Blockchain IoT Market, as it addresses the diverse communication needs of various industries, bolstering efficiency and innovation.

China Blockchain IoT Market Key Players and Competitive Insights

The China Blockchain IoT Market is witnessing significant transformations due to the convergence of blockchain technology and the Internet of Things. This market is characterized by intense competition, driven by advancements in connectivity and the need for transparent, secure data management across devices.

As companies strive to harness the potential of blockchain in enhancing the efficiency of IoT applications, a variety of players are emerging, each contributing to the shaping of the market through innovative solutions and diverse use cases.The competitive landscape is marked by rapid technological developments and strategic alliances aimed at improving security, interoperability, and scalability in IoT ecosystems.

Robust government initiatives and a growing demand for digitalization across industries further fuel competition, emphasizing the need for solutions that can deliver real-time data, improve supply chain management, and offer transparency to end-users.

Gree has established itself as a significant player in the China Blockchain IoT Market, leveraging its strong brand reputation and extensive research and development capabilities. The company's strengths include its robust product portfolio, which integrates IoT technology with blockchain to enhance energy efficiency and smart home solutions.Gree has shown a commitment to innovation by investing heavily in the development of smart appliances that can communicate effectively with IoT networks while ensuring data security through blockchain integration.

With its well-recognized market presence and emphasis on quality, Gree is positioned to drive substantial growth in the blockchain-backed IoT space in China. The company's ability to adapt quickly to changing market dynamics and consumer preferences further solidifies its competitive edge, allowing it to respond to the evolving demands within the smart home and IoT sectors.

ZTE operates prominently in the China Blockchain IoT Market by providing an array of comprehensive solutions that blend telecommunications and IoT management with blockchain technology. The company is focused on developing key products and services that address the challenges of connectivity, security, and data integrity within IoT networks.ZTE's strengths lie in its extensive research capabilities, global presence, and a strong commitment to innovation, allowing it to deliver scalable blockchain solutions tailored to the specific needs of various sectors, including smart cities and supply chains.

As part of its growth strategy, ZTE has engaged in strategic mergers and acquisitions to enhance its technological capabilities, positioning itself as a leader in integrating blockchain with IoT.The company's dedication to continuous improvement and industry collaboration fosters advancements that not only meet regulatory requirements but also cater to market demands, establishing ZTE as a crucial player in the development of the Blockchain IoT landscape in China.

Key Companies in the China Blockchain IoT Market Include:

• Gree
• ZTE
• Inspur
• Huawei
• China Mobile
• VeChain
• IoT Blockchain Consortium
• Nanfang Cloud
• Nokia
• Alibaba
• Waltonchain
• Tencent
• China Unicom
• Baidu
• JD.com

China Blockchain IoTMarket Developments

ZTE demonstrated its ICT innovations at MWC Shanghai 2023 in June 2023, highlighting its dedication to blockchain integration and digital innovation. With an emphasis on cloud computing services that integrate blockchain and IoT for industrial applications, Inspur has been actively engaging in the blockchain IoT space.

Leading telecom company Huawei has been creating blockchain-based Internet of Things solutions for a range of markets, including smart cities and industrial uses. China Mobile has also been in the vanguard, integrating IoT and blockchain technology into smart city and telecoms projects.

For supply chain and logistics applications, VeChain, a top blockchain platform, has been using IoT to improve efficiency and transparency. The IoT Blockchain Consortium has been encouraging cooperation and innovation by advancing the integration of blockchain and IoT across multiple industries.

The market has grown and changed as a result of the active development and deployment of blockchain-based IoT solutions by Nanfang Cloud, Alibaba, Waltonchain, Tencent, China Unicom, Baidu, and JD.com. China's strategic focus on using blockchain and IoT technologies to accelerate innovation and digital transformation across industries is reflected in these achievements.

China Blockchain IoT Market Segmentation Insights

Blockchain IoT Market Application Outlook

• • Supply Chain Management
  • Healthcare
  • Smart Cities
  • Energy Management
  • Agriculture

Blockchain IoT Market Technology Outlook

• • Public Blockchain
  • Private Blockchain
  • Hybrid Blockchain
  • Blockchain as a Service
  • Permissioned Blockchain

Blockchain IoT Market End Use Outlook

• • Industrial
  • Commercial
  • Residential
  • Government
  • Transportation

Blockchain IoT Market Connectivity Outlook

• • Wireless Connectivity
  • Wired Connectivity
  • Bluetooth Connectivity
  • Cellular Connectivity
  • LPWAN Connectivity

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	350.78(USD Million)
MARKET SIZE 2024	570.0(USD Million)
MARKET SIZE 2035	3720.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	18.593% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Gree, ZTE, Inspur, Huawei, China Mobile, VeChain, IoT Blockchain Consortium, Nanfang Cloud, Nokia, Alibaba, Waltonchain, Tencent, China Unicom, Baidu, JD.com
SEGMENTS COVERED	Application, Technology, End Use, Connectivity
KEY MARKET OPPORTUNITIES	Supply chain transparency enhancement, Smart cities development integration, Secure data sharing solutions, Asset tracking and management, Industrial automation improvements
KEY MARKET DYNAMICS	increased data security, improved supply chain transparency, enhanced asset tracking, regulatory support for blockchain, growing demand for smart devices
COUNTRIES COVERED	China