The latest market report published by Credence Research, Inc. “Global Blockchain IoT Market: Growth, Future Prospects, and Competitive Analysis, 2019 – 2027. The global blockchain IoT market value surged from US$ 37.4 Mn in 2018 to US$ 9,070.4 Mn in 2027, with a CAGR of 60.6% from 2019 to 2027. The increasing deployment of Internet of Things (IoT) devices worldwide has triggered a sense of data security. The traditional client-server architecture is vulnerable to security breaches due to single-point security intelligence.
The Blockchain Internet of Things (IoT) market is a rapidly evolving and innovative sector that combines two cutting-edge technologies: blockchain and IoT. Blockchain is a decentralized and immutable ledger technology that records transactions and data in a secure and transparent manner. IoT, on the other hand, refers to the network of interconnected devices and sensors that can collect and exchange data over the internet. When these two technologies are integrated, they create a powerful ecosystem with a wide range of applications and benefits.
The Blockchain IoT market is also poised to revolutionize various sectors, including healthcare, energy, and smart cities. In healthcare, for instance, medical devices and patient records can be securely and efficiently managed through blockchain, ensuring data integrity and patient privacy. In energy, blockchain can facilitate peer-to-peer energy trading among consumers, reducing the reliance on centralized energy providers and promoting sustainability. In smart cities, IoT sensors and blockchain can optimize traffic management, waste disposal, and public services, making urban living more efficient and sustainable.
Here are some notable examples of partnerships and acquisitions in the Blockchain IoT market:
Partnerships:
· IBM and Maersk (TradeLens): IBM and Maersk, a global shipping company, formed a partnership to create TradeLens, a blockchain-based platform for global trade. TradeLens aims to improve transparency and efficiency in the supply chain by leveraging IoT devices for real-time tracking of shipments and blockchain for secure documentation and data sharing.
· IOTA and Jaguar Land Rover: IOTA, a blockchain platform designed for the IoT, partnered with Jaguar Land Rover to develop a smart wallet system that allows vehicles to make microtransactions for services like tolls, parking, and charging. This partnership showcases how blockchain and IoT can enhance the functionality of connected vehicles.
· Waltonchain and Huodull: Waltonchain, a blockchain project focused on supply chain management, partnered with Huodull, a logistics company in China, to enhance supply chain transparency using IoT sensors and blockchain technology. Their collaboration aims to reduce counterfeiting and improve traceability in the supply chain.
Acquisitions:
· Cisco's Acquisition of Jasper Technologies: Cisco, a multinational technology company, acquired Jasper Technologies, an IoT platform provider, to bolster its IoT offerings. Jasper's platform integrates IoT devices with blockchain technology to enable secure connectivity and data management for various industries.
· Microsoft's Acquisition of Solair: Microsoft acquired Solair, an Italian company specializing in IoT solutions for businesses. This acquisition was part of Microsoft's strategy to strengthen its Azure IoT suite, integrating blockchain technology to enhance data security and device management.
· Nestlé's Acquisition of Aegle Blockchain: Nestlé, one of the world's largest food and beverage companies, acquired Aegle Blockchain, a technology startup that uses blockchain and IoT to trace the supply chain of food products. This acquisition helps Nestlé improve transparency and traceability in its supply chain, addressing consumer demands for food safety.
Browse 247 pages report Blockchain IoT Market By Offering (Hardware, Software, Infrastructure Provider), By Application (Data Security, Smart Contacts, Asset Tracking And Management, Data Communication/Sharing, Others), By End-User (Transportation And Logistics, Energy And Utility, Manufacturing, Retail, Building Management, Smart City, Healthcare, Wearable And Mobile Devices, Others) – Growth, Share, Opportunities & Competitive Analysis, 2019 -2027 – https://www.credenceresearch.com/report/blockchain-iot-market
Blockchain IoT Market Recommendations
The Blockchain IoT market has witnessed unprecedented growth in recent years, presenting a plethora of opportunities for businesses across various industries. As this dynamic landscape continues to evolve, it is crucial for organizations to make informed decisions to leverage the immense potential of this technology. Firstly, companies must prioritize security by implementing robust cryptographic protocols and zero-trust architectures that ensure data integrity and protect against cyber threats.
Additionally, forming strategic partnerships with reputed blockchain solution providers can aid in accelerating innovation and staying ahead of competitors. Embracing interoperability standards will facilitate seamless integration between different devices, platforms, and networks within the Blockchain IoT ecosystem. Furthermore, investing in scalable infrastructure and decentralized solutions can enhance efficiency while reducing costs associated with centralized authorities or intermediaries. Lastly, regulatory compliance should be considered as an essential aspect when implementing Blockchain IoT solutions; therefore businesses must adapt their policies according to relevant legal frameworks governing data privacy and ownership rights.
List of the prominent players in the Blockchain IoT Market:
· IBM Corporation
· Microsoft Corporation
· Intel Corporation
· Amazon.com Inc.
· Cisco Systems Inc.
· Ethereum Foundation
· The Linux Foundation
· R3 LLC
Blockchain IoT Market Segment Insights
Blockchain IoT Market Segment Insights provide a comprehensive and in-depth analysis of the rapidly evolving blockchain IoT market. This report offers valuable insights into key market segments, including technology, application, verticals, and regions. With the integration of blockchain technology and the Internet of Things (IoT), businesses are able to harness the power of secure data sharing, traceability, transparency, and decentralized control like never before.
The Blockchain IoT Market Segment Insights shed light on various technological advancements driving this market's growth such as edge computing, smart contracts, consensus mechanisms, scalability solutions etc., along with their impact on different industry sectors such as healthcare, transportation logistics, manufacturing etc. Additionally, it explores emerging trends shaping this space like the rise of hybrid blockchain networks and interoperability protocols aiming to address challenges related to privacy concerns and system scalability. In conclusion "Blockchain IoT Market Segment Insights" is an indispensable resource for organizations seeking a competitive edge in this dynamic marketplace by understanding key industry dynamics while navigating through potential opportunities and risks across different end-use applications and regions.
Why to Buy This Report-
· The report provides a qualitative as well as quantitative analysis of the global Blockchain IoT Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
· The report includes information on the competitive landscape, such as how the market's top competitors operate at the global, regional, and country levels.
· Major nations in each region with their import/export statistics
· The global Blockchain IoT Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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