The global blockchain IoT market is anticipated to witness a significant growth during the forecast period, 2019-2026. Hardware sub-segment is expected to be the most lucrative. Asset tracking and management sub-segment is predicted to be the most profitable. The Asia-pacific region is expected to lead the market by 2026.
New York, USA, June 08, 2021 (GLOBE NEWSWIRE) — According to a report published by Research Dive, the global blockchain IoT market is projected to register a revenue of $5,802.7 million at a CAGR of 91.5%, rising from $32.0 million in 2018, during the forecast period, 2019-2026. The comprehensive research gives a concise analysis of the current market landscape, including major features such as growth factors, challenges, restraints, and potential opportunities, during the analysis period.
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Dynamics of the Market
The blockchain IoT market is expected to flourish at a faster rate over the forecast period, owing to the key factors such as an increase in IoT implementation by various end-use industries. Another factor driving market growth in the near future is the growing need for IoT security and optimizing company processes around the world in order to boost work productivity. Furthermore, key factors boosting the growth of the global blockchain IoT market are smart contracts, expanding government initiatives, and rapid usage of blockchain services for digital…
