Blockchain for IoT can also be used to track billions of connected devices. Block chain helps in integrating, processing and coordinating number of various devices without the use traditional server route to communicate between the each devices. The will have a great impact in cost minimization on the installing and maintaining servers for an IoT network. Massive scalability of IoT network is be feasible option after significant cost savings. IoT and blockchain combined helps smart devices in exchanging the data and flow of financial transaction through a decentralized systems.
According to BlueWeave Consulting, The Global Blockchain IoT Market is expected to grow with a significant rate during the forecast period 2019-2025, owing to higher adoption of blockchain solutions for smart contracts and digital identity. The growing automation across various industries such as oil & gas, automotive, the retail industry for key functional areas such as payments & accounting, loyalty & rewards, and advertising among others and manufacturing will foster the global Blockchain IoT Market in the forecast period.
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Global Blockchain IoT Market Competitive Landscape
Companies such as IBM Corporation, Microsoft Corporation, Intel Corporation, Amazon.com, Inc., Cisco Systems, Ethereum Foundation, The Linux Foundation, R3, Filament, Ambrosus, Atonomi , Factom, Intel, Iota, Waltonchain, Xage, Inc. and KrypC are the key players in the global Blockchain IoT market.
Hardware Offering of Blockchain IoT Market is projected to be the leading segment of the overall market during the forecast period
On the basis of Offering, the Blockchain IoT market has been segmented into Hardware, Software, and Infrastructure Provider. Hardware segment dominates the global Blockchain IoT Market owing to its features such extraction of data from a open-source at the edge of IoT and send it to cloud from where the data is driving business value and empower new revenue models. Infrastructure Provider is driven by its applications such as enterprises implementing blockchain technology and develop solutions to fulfill the increasing need for customer services.
Smart Contract is projected to lead the industry for utilizing applications of the Blockchain IoT during the forecast period
On the basis of Application, the Blockchain IoT market has been segmented into Smart Contract, Data Security, Data Sharing/Communication, and Asset Tracking & Management. By application, Smart Contract segment will lead the market due to its benefits such as providing security that is superior to traditional contract law and to reduce other transaction costs associated with contracting. Asset Tracking & Management is driven by tracking and managing physical assets and the performance of the equipment on the manufacturing floor.
North America accounts for the lion’s share of the global Blockchain IoT market during the anticipated period.
On the basis of region, the Blockchain IoT market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America dominates the world Blockchain IoT market over the forecast period owing to the presence of key market players coupled with adoption of blockchain IoT in delivering enhanced customer experience. The Asia Pacific market will foster by Blockchain adoption in developing countries in Asia-Pacific and adoption of blockchain IoT by different organizations.
Table of Contents
Chapter: 1. Research Framework
Chapter: 2. Research Methodology
Chapter: 3. Executive Summary
Chapter: 4. Industry Insights
Chapter: 5. Global Blockchain IoT Market Overview
Chapter: 6. North America Blockchain IoT Market
Chapter: 7. Europe Blockchain IoT Market
Chapter: 8. Asia Pacific Blockchain IoT Market
Chapter: 9. Latin America Blockchain IoT Market
Chapter: 10. Middle East & Africa Blockchain IoT Market
Detailed Analysis of Table of Contents (TOC)@
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