IoT and Blockchain Market Definition
IoT and blockchain technology where IoT allows devices to send data to private blockchain ledgers for the shared transaction and blockchain provides the decentralized environment for the IoT based devices and application. The IoT services give opportunities to various types of businesses to run smartly with the help of sensors sending data to the cloud. Blockchain integrated with IoT makes it more efficient as it provides safety and security in various industries.
The market study is broken down, by Application (Smart Contract, Data Security, Data Sharing/Communication and Asset Tracking & Management) and major geographies with country level splits.
IBM (United States), Microsoft Corporation (United States), Intel Corporation (United States), Amazon (United States), Cisco Systems, Inc. (United States), Linux Foundation (United States), KrypC Technologies (India) and Factom (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global IoT and Blockchain market by Type, Application and Region.
On the basis of geography, the market of IoT and Blockchain has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Hardware will boost the IoT and Blockchain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Industry Verticals, the sub-segment i.e. Supply Chain and Logistics will boost the IoT and Blockchain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Blockchain, the sub-segment i.e. Public Blockchain will boost the IoT and Blockchain market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
On 11th October 2019, IBM launched a blockchain-based supply chain service with AI, IoT integration. Tied to its existing Sterling Order Management System service, the new blockchain and AI-enabled cloud offering enable real-time views of order shipments, alerts, and optimization recommendations.
"Regulation typically does not specifically address or mandate security standards for the development of IoT devices, or blockchain technologies interacting with IoT, although some privacy agencies, such as in Hong Kong, in recent times, have issued non-binding general guidelines for manufacturers considering privacy/data security issues in their IoT device development. However, jurisdictions such as California in the US have proposed legislation, first of its kind in the US, for mandating security requirements in IoT devices. Such developments are likely to see further investment in the research and development of blockchain technologies to address security and data protection issues in IoT."
- Increasing Decentralization in the Business Around the World
- Demand for the Minimum Risk of Collusion and Tampering
- Growing Need for the Efficiency in Supply chain and Eliminating the Middle Man for Cost-Effectiveness and Faster Operation
- Growing Investment of Companies in IoT based Industry Around the World will Boost the IoT and Blockchain Market
- Risk Related to Cyber Threats with IoT and Blockchain Operation
- Problems with Legal and Compliance Issues Involved with IoT and Blockchain Market
Key Target Audience
IoT and Blockchain Platform Developers, IoT and Blockchain Providers, IoT and Blockchain Industry Association, Research and Development Institutes, Potential Investors, Regulatory Bodies and Others
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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