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DUBLIN, March 19, 2021 /PRNewswire/ -- The "Blockchain IoT Market by Component (Hardware (IoT Sensors & Crypto-Wallets), Software and Platform, and Services), Application (Smart Contract, Security, and Asset Tracking and Management), Organization Size, Vertical, and Region - Global Forecast to 2026" report has been added to ResearchAndMarkets.com's offering. The global blockchain IoT market size is projected to grow from USD 258 million in 2020 to USD 2,409 million by 2026, at a Compound Annual Growth Rate (CAGR) of 45.1% during the forecast period. The growing need for IoT security, simplified processes supported with transparency and immutability, and high adoption of blockchain-based IoT solutions using smart contracts and AI is expected to surge demand for blockchain IoT market globally. By component, the software and platform segment to grow at a higher CAGR during the forecast period The software for blockchain IoT connects network-based requests placed by users for accessing backend data to the network. The blockchain software components consist of node application, consensus mechanism, virtual machines, and shared ledger. Blockchain helps cumulate technical and business information, fraud detection results, and user behavior data with the rest of the enterprise architecture via real-time demand tools. Software tools help visualize insights for quick and simple data gathering and enhanced predictive capabilities. A blockchain software integrated with IoT ensures secure device communication. The blockchain IoT platform is expected to witness wide adoption during the forecast period as an increasing number of enterprises of all sizes are realizing the benefits offered by this platform. The blockchain IoT software helps enterprises carry out complex tasks in a decentralized digital economy to avert risks, enable secure transactions, and optimize their daily operations, leading to reduced operational costs. This need for increased efficiency and security is expected to drive the adoption of the blockchain IoT market in the future. By application, the asset tracking and management segment to register the highest growth rate during the forecast period Merging IoT with blockchain can not only increase operational efficiency but also ensures a more secure environment. The symphony of IoT and blockchain technology is tremendously contributing to the growth of industries, such as healthcare, transportation, energy and utilities, and supply chain management in asset tracking and management. Asset management is primarily used for planning assets, improving real-time communication, monitoring asset condition, and proactively managing enterprise assets. The blockchain-backed IoT asset tracking and management application drives transparency along clients' supply chains. The combined power of IoT and blockchain helps detect patterns, malfunctions, and anomalies to optimize processes, faster transaction processing, enhanced supply chain traceability, and cost-efficiency. Asia Pacific to register the highest growth rate during the forecast period Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global Blockchain IoT market during the forecast period. The Blockchain IoT market in Asia Pacific (APAC) is projected to grow at the highest CAGR during the forecast period. APAC countries are increasingly investing in blockchain IoT projects. The region comprises emerging economies, such as ANZ, China, Japan, Singapore, and rest of APAC countries. With the proliferation of IoT in the APAC region, security and fraud concerns have risen; the integration of blockchain with IoT would enhance enterprise databases' trust and security. Enterprises in the APAC region are embracing blockchain technologies. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies, political transformation, and the growing digitalization, which is expected to have a significant impact on the business community and drive the blockchain IoT market growth. Key Topics Covered: 1 Introduction 2 Research Methodology 3 Executive Summary 4 Premium Insights4.1 Attractive Opportunities in the Blockchain IoT Market4.2 Blockchain IoT Market, by Component4.3 Blockchain IoT Market, by Hardware4.4 Blockchain IoT Market, by Service4.5 Blockchain IoT Market, by Organization Size4.6 Blockchain IoT Market, by Application4.7 Blockchain IoT Market, by Vertical4.8 Market Investment Scenario 5 Market Overview5.1 Market Dynamics5.1.1 Drivers5.1.1.1 Growing Need for IoT Security5.1.1.2 Simplification of Processes Along with Transparency and Immutability5.1.1.3 Low Operational Costs5.1.2 Restraints5.1.2.1 Limited Number of Blockchain IoT Experts5.1.2.2 Uncertain Regulatory and Compliance Environment5.1.2.3 Scalability, Processing Power, and Storage Issues5.1.3 Opportunities5.1.3.1 Higher Adoption of Blockchain-Based IoT Solutions Using Smart Contracts and Ai5.1.3.2 Combating Deepfake Content Using Blockchain5.1.4 Challenges5.1.4.1 Lack of Awareness Related to Blockchain-Iot Technology5.1.4.2 Security, Privacy, and Control of Blockchain Transactions5.2 COVID-19-Driven Market Dynamics5.2.1 Drivers and Opportunities5.2.2 Restraints and Challenges5.2.3 Cumulative Growth Analysis5.3 Value Chain Analysis5.4 Blockchain Ecosystem5.5 Average Selling Price/Pricing Model, 2019-20205.5.1 IoT Sensors and Crypto-Wallets Average Selling Price5.6 Technology Analysis5.6.1 Big Data Analytics5.6.2 Cloud5.6.3 Other Technologies5.7 Revenue Shift - Yc/Ycc Shift5.8 Patent Analysis5.8.1 Blockchain IoT Patents5.9 Porter's Five Forces Model Analysis5.9.1 Threat of New Entrants5.9.2 Threat of Substitutes5.9.3 Bargaining Power of Suppliers5.9.4 Bargaining Power of Buyers5.9.5 Intensity of Competitive Rivalry5.10 Blockchain Associations and Consortiums5.11 Use Cases 6 Blockchain IoT Market, by Component6.1 Introduction6.2 Hardware6.2.1 Hardware: Blockchain IoT Market Drivers6.2.2 Hardware: COVID-19 Impact6.2.3 IoT Sensors6.2.3.1 Motion Sensors6.2.3.2 Gps6.2.3.3 Temperature Sensors6.2.3.4 Vehicle Information6.2.3.5 Connected Devices6.2.4 Crypto Wallets6.3 Software and Platform6.3.1 Software and Platform: Blockchain IoT Market Drivers6.3.2 Software and Platform: COVID-19 Impact6.4 Services6.4.1 Services: Blockchain IoT Market Drivers6.4.2 Services: COVID-19 Impact6.4.3 Technology Advisory and Consulting Services6.4.4 Development and Integration Services6.4.5 Support and Maintenance 7 Blockchain IoT Market, by Organization Size7.1 Introduction7.2 Large Enterprises7.2.1 Large Enterprises: Blockchain IoT Market Drivers7.2.2 Large Enterprises: COVID-19 Impact7.3 Small and Medium-Sized Enterprises7.3.1 Small and Medium-Sized Enterprises: Blockchain IoT Market Drivers7.3.2 Small and Medium-Sized Enterprises: COVID-19 Impact 8 Blockchain IoT Market, by Application8.1 Introduction8.2 Smart Contracts8.2.1 Smart Contracts: Blockchain IoT Market Drivers8.2.2 Smart Contracts: COVID-19 Impact8.3 Security8.3.1 Security: Blockchain IoT Market Drivers8.3.2 Security: COVID-19 Impact8.4 Data Sharing/Communication8.4.1 Data Sharing/Communication: Blockchain IoT Market Drivers8.4.2 Data Sharing/Communication: COVID-19 Impact8.5 Asset Tracking and Management8.5.1 Asset Tracking and Management: Blockchain IoT Market Drivers8.5.2 Asset Tracking and Management: COVID-19 Impact8.6 Other Applications 9 Blockchain IoT Market, by Vertical9.1 Introduction9.2 Energy and Utilities9.2.1 Energy and Utilities: Blockchain IoT Market Drivers9.2.2 Energy and Utilities: COVID-19 Impact9.3 Transportation and Logistics9.3.1 Transportation and Logistics: Blockchain IoT Market Drivers9.3.2 Transportation and Logistics: COVID-19 Impact9.4 Manufacturing9.4.1 Manufacturing: Blockchain IoT Market Drivers9.4.2 Manufacturing: COVID-19 Impact9.5 Building Management9.5.1 Building Management: Blockchain IoT Market Drivers9.6 Healthcare9.6.1 Healthcare: Blockchain IoT Market Drivers9.6.2 Healthcare: COVID-19 Impact9.7 Retail9.7.1 Retail: Blockchain IoT Market Drivers9.7.2 Retail: COVID-19 Impact9.8 Wearable and Mobile Devices9.8.1 Wearable and Mobile Devices: Blockchain IoT Market Drivers9.8.2 Wearable and Mobile Devices: COVID-19 Impact9.9 Smart City9.9.1 Smart City: Blockchain IoT Market Drivers9.9.2 Smart City: COVID-19 Impact9.10 Other Verticals 10 Blockchain IoT Market, by Region10.1 Introduction10.2 North America10.3 Europe10.4 Asia-Pacific10.5 Middle East and Africa10.6 Latin America 11 Competitive Landscape11.1 Introduction11.2 Market Evaluation Framework11.3 Key Player Strategies/Right to Win11.3.1 Overview of Strategies Adopted by Key Blockchain IoT Vendors11.4 Revenue Share Analysis of Top Market Players11.5 Historic Revenue Analysis11.6 Competitive Evaluation Matrix, 202011.6.1 Star11.6.2 Emerging Leaders11.6.3 Pervasive11.6.4 Participants11.7 Strength of Product Portfolio Analysis of Blockchain IoT Players11.8 Business Strategy Excellence Analysis of Blockchain IoT Players11.9 Startup/SME Evaluation Matrix, 202011.9.1 Progressive Companies11.9.2 Responsive Companies11.9.3 Dynamic Companies11.9.4 Starting Blocks11.10 Ranking of Key Players in the Blockchain IoT Market, 2020 12 Company Profiles12.1 Introduction12.2 Key Players12.2.1 IBM12.2.2 Microsoft12.2.3 Intel12.2.4 Amazon Web Services12.2.5 Huawei12.2.6 Cisco12.2.7 SAP12.2.8 Ethereum Foundation12.2.9 The Linux Foundation12.2.10 R312.2.11 Arctouch12.2.12 Waltonchain12.2.13 Helium12.3 Startup/SME Profiles12.3.1 Factom12.3.2 Hypr12.3.3 Chronicled12.3.4 Krypc12.3.5 IoTex12.3.6 Discovery12.3.7 IoTa12.3.8 Atonomi12.3.9 Xage12.3.10 AmbrosUS12.3.11 Netobjex12.3.12 Grid+ 13 Adjacent Market13.1 Introduction13.2 Limitations13.3 Blockchain Market13.3.1 Introduction13.3.2 by Component13.3.3 by Application Area13.4 AI in IoT Market13.4.1 Introduction13.4.2 by Component13.4.3 by Technology13.5 Blockchain AI Market13.5.1 Introduction13.5.2 by Component 14 Appendix14.1 Discussion Guide14.2 Knowledge Store: The Subscription Portal14.3 Available Customizations14.4 Related Reports14.5 Author Details For more information about this report visit https://www.researchandmarkets.com/r/z6kk0v Media Contact: Research and Markets Laura Wood, Senior Manager [emailprotected] For E.S.T Office Hours Call +1-917-300-0470 For U.S./CAN Toll Free Call +1-800-526-8630 For GMT Office Hours Call +353-1-416-8900 U.S. Fax: 646-607-1907 Fax (outside U.S.): +353-1-481-1716 SOURCE Research and Markets Related Links http://www.researchandmarkets.com

Answer: The Worldwide Blockchain IoT Industry is Expected to Reach $2.4 Billion by 2026