Blockchain
The blockchain IoT market will expand at a robust CAGR of 45.1% through 2031
SkyQuest Technology Consulting Pvt. Ltd.
Westford, USA, May 7, 2024 (GLOBE NEWSWIRE) — SkyQuest predicts that the blockchain IoT market will reach a value of $15,486.69 million by 2031, with a CAGR of 45.1% over the forecast period (2024-2031). The integration of Blockchain and IoT (Internet of Things) empowers faster processing and provides greater data security on connected devices. The high demand for decentralized systems and the growing adoption of IoT devices are expected to strengthen the growth of the blockchain IoT market.
Download a detailed overview:
https://www.skyquestt.com/sample-request/blockchain-iot-market
Browse the in-depth summary on “IoT Blockchain Market”
-
Pages – 197
-
Tables – 64
-
Figures – 75
IoT Blockchain Market Overview:
|
Report coverage |
Details |
|
Market revenue in 2023 |
$788.17 million |
|
Estimated value in 2031 |
$15,486.69 million |
|
Growth rate |
Poised to grow at a CAGR of 45.1% |
|
Forecast period |
2024–2031 |
|
Forecasting unit |
Value (millions of dollars) |
|
Report coverage |
Revenue forecasts, competitive landscape, growth drivers and trends |
|
Segments covered |
Technology, application, product type, platform end use and region |
|
Geographies covered |
North America, Europe, Asia Pacific and Rest of the World |
|
Report key points |
Updated financial information/player product portfolio |
|
Main market opportunities |
Data monetization and data-driven innovations |
|
Main market drivers |
Growing demand for transparent decentralized systems |
High demand for customized software for IoT Blockchain applications allowing the software to dominate the market growth
Investments in software development by Blockchain IoT vendors are increasing rapidly, allowing the software segment to hold a high market share. The growing demand for customized software solutions for different IoT Blockchain applications across different verticals will crucially help the dominance of this segment.
The evolving threat landscape allows data security to emerge as the fastest growing segment in the market
The growing prevalence of cyber attacks and hacks has led to an increased demand for better data security across the world. IoT Blockchain solutions can provide better data security than other technologies because they use a decentralized network to store and manage data. The improved transparency, traceability and data security offered by blockchain IoT solutions help the market grow.
The rapid adoption of new technologies allows North America to hold a substantial market share
North America’s developed IT infrastructure, combined with the rapid adoption of new technologies such as IoT blockchain, are contributing to this region’s high market share. The presence of key technology companies and growing acceptance of IoT and Blockchain technologies will drive further market expansion. The United States and Canada are expected to be the most important markets in this region.
The story continues
Request free customization of this report:
https://www.skyquestt.com/speak-with-analyst/blockchain-iot-market
IoT Blockchain Market Insights:
Drivers
-
Growing demand for better data security.
-
Growing acceptance of Blockchain and IoT technologies.
-
Growing use of decentralized systems in finance and other sectors.
Restrictions
Prominent players in the IoT Blockchain market
View the report summary and table of contents (TOC):
https://www.skyquestt.com/report/blockchain-iot-market
Key questions answered in the IoT blockchain market report
This report provides the following information:
-
Analysis of key drivers (growing demand for better data security, growing adoption of Blockchain and IoT technologies, growing use of decentralized systems in different verticals), restrictions (interoperability issues with legacy systems, complexity in integrating with existing infrastructure, concerns related to the scalability of IoT blockchain systems) and opportunities (growing demand for data monetization, growing demand for transparent yet trustworthy transactions), which influence the growth of the IoT Blockchain market.
-
Market Penetration: Comprehensive analysis of the product portfolio of different market players and status of new product launches.
-
Product Development/Innovation: In-depth evaluation of R&D activities, new product development, and upcoming IoT Blockchain market trends.
-
Market Development: Detailed analysis of potential regions where the market has growth potential.
-
Market Diversification: Comprehensive evaluation of new product launches, recent developments and emerging regional markets.
-
Competitive Landscape: Detailed analysis of growth strategies, revenue analysis and product innovation from new and established market players.
Related reports:
Global blockchain as a services market
Global fintech blockchain market
Global Blockchain in Healthcare Market
Global decentralized finance (DeFi) market.
Who we are:
SkyQuest is an intellectual property-focused research and investment bank and a technology and resources accelerator. We provide access to technologies, markets and financing across all sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information and Communication Technologies.
We work closely with innovators, inventors, innovation researchers, entrepreneurs, companies and investors to leverage external sources of research and development. Furthermore, we help them optimize the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
Contact:
Mr Jagraj Singh
Skyquest technology
1 Apache way,
Westford,
Massachusetts 01886
United States (+1) 351-333-4748
E-mail: sales@skyquestt.com
Visit our website: https://www.skyquestt.com/
