DUBLIN–(BUSINESS WIRE)–Mar 5, 2020–
The “Global Blockchain IoT Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2019 To 2027” report has been added to ResearchAndMarkets.com‘s offering.
The global blockchain IoT market was valued at US$ 37.4 Mn in the year 2018 and expected to reach US$ 9,070.4 Mn by the year 2027, expanding at a CAGR of 60.6% during the forecast from 2019 to 2027.
Rising Penetration of IoT Connected Devices across the World will uplift the demand for Blockchain IoT during the Forecast Period
The advent of the Internet of Things (IoT) has upended several industries to a greater extent since its introduction, and still, the demand for IoT is escalating at a rapid pace. IoT connected devices across the world have surpassed the installed bases from 7 Bn in 2018 to 21.5 Bn in 2025. However, IoT still faces difficulty in solving security and privacy issues owing to its traditional architecture. Besides this, increasing cases of a data breach has forced enterprises to think about a new model or architecture. Blockchain is proved to be a game-changer for IoT that uses distributed ledger technology to solve security challenges.
The global blockchain IoT market is highly competitive owing to the emergence of new players and startups in the market. In addition, some blockchain players and IoT solution providers are joining their hands to provide a more effective and secure solution. This upcoming market trend is poised to increase market competition significantly.
- On April 01, 2019, Filament, a blockchain solution provider for IoT, announced the launch of the new Blocklet Foundation Kit. The kit was designed for hardware and embedded developers those focusing on IoT. The kit will demonstrate users the smart contract functions along with this it also helps in generating IoT blockchain…