Blockchain IoT Market

Market Leadership - Blockchain IoT Market

The blockchain IoT market is projected to grow from USD 113.1 million in 2019 to USD 3,021 million by 2024; it is expected to grow at a CAGR of 92.92%. Major factors propelling the market growth include increasing adoption of IoT, growing need for IoT security, simplifying business processes and affording transparency and immutability, and increasing focus on operational efficiency. Further, underlying opportunities for the blockchain IoT market include higher adoption of blockchain solutions for smart contracts and digital identity and rising government initiatives. Major factors restraining the market growth are uncertain regulatory status and higher latency with an increase in the number of nodes. The lack of awareness about blockchain technology and lack of standards pose major challenges to the blockchain IoT market.

IBM Corporation (US), Microsoft Corporation (US), Intel Corporation (US), Amazon.com, Inc. (US), Cisco Systems (US), Ethereum Foundation (Switzerland), The Linux Foundation (US), R3 (US), Filament (Nevada), and KrypC (India) are a few major players in the blockchain IoT market.

To know about the assumptions considered for the study download the pdf brochure

Top 2 Players in Blockchain IoT Market:

IBM

IBM Corporation is an integrated IT company that has global presence and provides IT consulting and implementation services, cloud and cognitive offerings, enterprise systems and software, and financing solutions. The company’s robust business model supported by a sound financial model award it impressive revenues, and subsequently good returns to its shareholders over time. IBM Corporation significantly focuses on R&D to make inroads into new markets; the company is currently working on AI, quantum computing, blockchain, security, cloud, nanotechnology, silicon and post-silicon computing architectures, and more. In the last 3 years, IBM Corporation invested approximately 7% of its annual revenues in R&D. The company is a global blockchain technology leader that provides a permission and immutable shared ledger. More than 100 of the top leading technology organizations have embraced the IBM blockchain platform.

In December 2018, IBM and Maersk launched a blockchain solution named TradeLens. This delivers blockchain-enabled visibility and document management solution for container shipping that promotes more efficient and secure global trade. Such initiatives by the company help it to expand its portfolio of offerings in the growing era of the blockchain.

Microsoft Corporation

Microsoft is among the major companies in the blockchain IoT market. The company invests significantly in R&D, which has improved its product portfolio and position in the market.  Microsoft has upheld its position as a global vendor in offering a diverse set of software and licensing solutions for several industry verticals. Customer satisfaction has always been its top priority, and thus, it focuses on developing technologies that assist scale evolving market trends. The company focuses on keeping its customers aligned with evolving market trends, such as progressions in mobility and cloud applications. Microsoft has gained noteworthy progress in the blockchain market and is expected to gain rapid traction in the near future.

Recently, in November 2018, Microsoft collaborated with Interswitch Group, a Nigeria-based electronic payment and digital commerce solutions provider. The collaboration resulted in the launch of a blockchain-based supply chain financing service to ensure fast and seamless trade financing for entire supply chains.

Related Reports:

Blockchain IoT Market by Offering (Hardware, Software, and Infrastructure Provider), Application (Smart Contract, Data Security, Data Sharing/Communication, and Asset Tracking & Management), End User, and Geography - Global Forecast to 2024

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
sales@marketsandmarkets.com

Report Code
SE 6994
RI Published ON
3/26/2019
Choose License Type
BUY NOW
  • SHARE
X
Request Customization
Speak to Analyst
Speak to Analyst
OR FACE-TO-FACE MEETING
PERSONALIZE THIS RESEARCH
  • Triangulate with your Own Data
  • Get Data as per your Format and Definition
  • Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor
  • Any level of Personalization
REQUEST A FREE CUSTOMIZATION
LET US HELP YOU!
  • What are the Known and Unknown Adjacencies Impacting the Blockchain IoT Market
  • What will your New Revenue Sources be?
  • Who will be your Top Customer; what will make them switch?
  • Defend your Market Share or Win Competitors
  • Get a Scorecard for Target Partners
REQUEST A FREE WORKSHOP
ADJACENT MARKETS
REQUEST BUNDLE REPORTS
ONLINE CHAT
+1-888-600-6441
  • Call Us
  • +1-888-600-6441 (Corporate office hours)
  • +1-888-600-6441 (US/Can toll free)
  • +44-800-368-9399 (UK office hours)
CONNECT WITH US
ABOUT TRUST ONLINE
© MarketsandMarkets Research Private Ltd. All rights reserved