Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Blockchain and IoT both are revolutionary technologies that are changing the world. Blockchain provides a platform for transaction recording and asset tracking in a business network. Combining IoT with the power of blockchain provides a highly trusted and secure platform. It empowers businesses to access and share their data with their private network process safely, with a decentralized management system. Blockchain IoT offers an infinite number of possibilities for transaction systems and digital interaction.
Globally, the growing need to secure IoT devices boosts the demand of the blockchain IoT market. Blockchain IoT helps to enhance the trust in IoT data, which drives the demand of the blockchain IoT market. It builds trust in IoT data as each transaction is trusted and recorded with an immutable data chain that cannot be changed.
The study analyses the global blockchain IoT market based on components, applications, end-users and geography.
By component, the blockchain IoT market is bifurcated into hardware, software, and services. The hardware segment consists of IoT sensors and crypto-wallets, in which IoT sensors include motion sensors, GPS, temperature sensors, vehicle information and connected devices. Whereas the services segment includes technology advisory and consulting services, deployment and integration services, support and maintenance services.
Major applications of blockchain IoT covered in the study are smart contract, security, data sharing, asset tracking and management and others. The smart contracts are stored on the blockchain and are automatically executed when predetermined terms and conditions are met. It eliminates the intermediary's involvement and time loss. The smart contract segment is expected to grow in the future.
End-users of blockchain IoT covered in the study are transportation & logistic, healthcare, banking & financial services, government, retail, media and entertainment and insurance. In transportation and logistics sector, blockchain IoT stores all kind of information related such as temperature, position, and arrival time. These immutable blockchain IoT data enhances the trust of involving parties, which fuels the growth of the market.
The key competitors of the market IBM (US), Microsoft (US), Intel (US), Amazon Web Services (US), Huawei (China), Cisco (US), SAP (Germany), Ethereum Foundation (Switzerland), The Linux Foundation (US), R3 (US), Arctouch (US), Waltonchain (China), Helium (US), Factom (US), HYPR (US), Chronicled (US), KrypC (India), IoTeX (Singapore), Discovery (Malta), Iota (Germany), Atonomi (US), Xage (US), Ambrosus (Estonia), NetObjex (US), and Grid+ (US). and others
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific held the largest share of the Blockchain IoT market. Technological advancements and increasing investments in blockchain IoT drives the growth of the market in the region.
The study analyses the global blockchain IoT market based on components, applications, end-users and geography. By component, the blockchain IoT market is bifurcated into hardware, software, and services. Major applications of blockchain IoT covered in the study are smart contract, security, data sharing, asset tracking and management and others. End-users of blockchain IoT covered in the study are transportation & logistic, healthcare, banking & financial services, government, retail, media and entertainment and insurance. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and the Rest of the World.
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