Global Blockchain IoT Market Expected Grow at a CAGR of 91.5%, by 2026 - Research Dive

PUNE, India, March 10, 2020 /PRNewswire/ -- As per the study conducted by Research Dive, the Blockchain IoT Market size is anticipated to reach $5,802.7 million by 2026, with a CAGR of 91.5% over projected period.

Market Drivers and Retrains:

Rising adoption of Blockchain IoT due to the rapid growth in the IoT connectivity across the globe for data sharing is expected to drive the market growth. Additionally, increasing operational efficiency among the organizations for providing better data transfer security is another growth factor for blockchain IoT market.

Lack of awareness among the organizations is the key factor that may hinder the market growth over the forecast period. However, interoperability is another key challenging factor that may hamper growth of the blockchain IoT market.

Sample report reveals, Summary of global market dynamics including driving factors, Restraints and Investment Opportunities in Blockchain IoT Market https://www.researchdive.com/download-sample/45 

Blockchain IoT Market Segmentation:

On the basis of offerings, the market is segmented into hardware, software and solutions. Hardware segment is anticipated to further drive the offerings segment in blockchain IoT market, owing to the growing demand for more secure data transferring among the people that are present in the same network.

Data security dominated the application segment owing to the growing demand for secure data transferring among the devices, and rising concerns for data theft due to the growing cyber-attacks. As per the study, data security segment is anticipated to reach $1,377.9 million by the year 2026 at a CAGR of 93.4%.

Based on end-use industries the market is divided into energy & utility, transportation & logistics, building management, manufacturing, healthcare, wearable & mobile devices, smart cities and retail among other. Smart cities segment is anticipated to dominate the market growth over the forecast period owing to the rising adoption of IoT integration with almost every aspect of day to day life.

Regional Insights:

Asia Pacific Blockchain IoT market is witness to grow over the forecast period, and anticipated to account for $1,459.8 million by 2026, growing at rate of 94.8%, due to the growth of the Blockchain IoT market in Asia Pacific region. Asia Pacific includes most developing nations such as China, India and South Korea among others, these economies are anticipated to adopt blockchain IoT on a wider range.