Research Dive przewiduje wzrost IoT blockchain do 5,8 miliarda dolarów do 2026 r.
Researchers from the Indian firm Research Dive shared their predictions of the blockchain industry. In their report, they noted that the global IoT blockchain market will reach more than $5.8 billion by 2026.
In the daily flow of information, you can more and more often catch the news about the next technology giant that has applied blockchain in one of its existing or future projects, or simply in a subsidiary. With the popularization of innovative technology, it is being used in related fields, one of which is the Internet of Things.
Research Dive analysts tracked the development of the IoT blockchain industry in different regions, concluding that the Asia-Pacific region will demonstrate the most rapid progress in the coming years. According to their forecast, by 2026 this industry will grow there to the level of $1.4 billion dollars with an average annual growth rate of 94.8%. At the same time, the North American market will grow at a rate of 90.1% for the year, approaching the level of $1.75 billion. The average annual growth rate for the period from 2021 to 2026 will be about 91.5%.
According to Research Dive, the main factor that can significantly accelerate the growth of the global economy will be not only the widespread implementation of IoT-based solutions in various industries but also the growing need to optimize business processes. In addition, according to them, organizations should not forget about the issue of IoT security, and analysts also mentioned the integration of blockchain services and digital identity for smart contracts as a reason for the growth of the economy.
Research Dive said that in parallel with the growth and development of the IoT blockchain, the BaaS blockchain market will surpass $15.8 billion. Such indicators are achieved due to a high degree of decentralization and immutability. In most countries, medium and small businesses have already appreciated the advantages of the BaaS blockchain in the development of payment systems, decentralized applications, and smart contracts. The speed of adoption of cryptocurrencies and an increase in the flow of investments from the USA, Japan, and the UK can also play into the hands of the BaaS blockchain.
In addition to the areas listed above, researchers predict the growth of the smart city segment. According to them, the use of the IoT blockchain in such areas as logistics, transport, utilities, retail, healthcare, building management, as well as the development of smart wearable and mobile devices will affect the speed of the emergence of smart cities.
The industry is expected to grow at an average rate of 93.9% per year, or $639.4 million per year. The blockchain in them will become a fundamental mechanism and will be used as the main platform to eliminate possible security problems and ensure the smooth operation of the entire system. Therefore, in the next 5-10 years, the first examples of high-tech cities may appear, where the blockchain will be integrated into all everyday aspects of human life.
Research Dive named the Ethereum Foundation, Microsoft, Filament, Cisco Systems, IBM, Intel, Amazon, and other large technology companies as the main participants in the IoT blockchain market. They regularly make multimillion-dollar R&D injections, strengthening their position in the IoT industry.