According to [195+ Pages Report] published by Facts and Factors states that the global blockchain IoT market in 2020 was close to USD 269.2 Million. The market is expected to grow at a CAGR of around 47.5% and is anticipated to touch USD 2,540.5 Million by 2026.
Blockchain IoT is an emerging field that is used to secure the confidential data of industries. This novel technology does not permit accession to the data from any third-party sources. The increasing penetration of blockchain and IoT in various businesses & industries is attributed to the generation and secure storage of huge amounts of confidential data, thereby likely to escalate the global blockchain IoT market growth at a splendid rate. Moreover, highly supportive regulations & policies set by governments in favor of blockchain and IoT technology are likely to generate multiple business opportunities for the industries operating in the blockchain IoT market.
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Blockchain IoT Market: Industry Major Market Players
By offering, the hardware segment in the global blockchain IoT market will witness considerable growth during 2020–2026
Blockchain, using its technology protocol, allows a secure exchange of data within a specific network of multiple parties. The data sharing process does not involve any sort of intermediates. The network participants intercommunicate with encrypted identities and peer-to-peer connections. Each data transaction is added to the immutable list of transactions and the data is accessible to all the participants within the network. Blockchain hardware, with the strong support of IoT, transfers data from a secure source to the cloud network. Therefore, the extensive importance of hardware in secure data transactions is flourishing its demand in the global blockchain IoT market.
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The global blockchain IoT market research report delivers an acute valuation and taxonomy of the global blockchain IoT industry by practically splitting the market on the basis of different offerings, applications, end-users, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the global blockchain IoT industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the global blockchain IoT industry is provided for the leading economies of the world.
The global blockchain IoT market is segmented based on the offering, application, end-user, and region. The offering segment bifurcates the global blockchain IoT industry into infrastructure providers, software, and hardware. Application-wise, the global market is categorized into data security, asset tracking & management, data communication/sharing, smart contracts, and others. By the end-user segment, the market is sectored into healthcare, smart city, manufacturing, transportation & logistics, energy & utility, retail, building management, wearable & mobile devices, and others.
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North America is anticipated to rule the global blockchain IoT market during the study timeframe
In 2020, North America held the major share of the global blockchain IoT market, as the region is a primary adopter of blockchain technology. In North America, the US captured the major share of the regional blockchain IoT market. The key factors prompting the dominance of the North America blockchain IoT market during the forecast period are the region has been rapidly adopting the latest and innovative technologies compared to other regions, and most of the key blockchain IoT-based industries are established in North America.
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This report segments the global blockchain IoT market as follows:
Global Blockchain IoT Market: Offering Segmentation Analysis
Global Blockchain IoT Market: Application Segmentation Analysis
Global Blockchain IoT Market: End-User Segmentation Analysis
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