A report from the market and economic organizations forecast the market; then the economy can attest to the phenomenal growth of IoT blockchain; all will exceed two billion by 2024.
“Blockchain” and “IoT” are two of the most commonly used keywords today. According to the proof of Long Island Blockchain Company; If you use one of the two terms to talk about the technology platform your company is researching, ‘there will be investors throwing money at your business.
This year, the report expects the investment market for these two segments will reach $ 113.1 million (£ 86.36 million). By 2024, it is expected to increase to $ 3,021 billion (VND 2.31 billion).
The cause of smart device market changes
Most people know about the potential and the amazing opportunities that it can bring, but it is also a lot of risks. Weak device security and easy device control sharing; have made IoT the main target of hackers.
Help solve some IoT security issues, which is expected to be a huge growth in the blockchain market. Another major advantage of blockchain is transparency and invariant. In some IoT deployments, this is very important to maintain trust.
Transportation and logistics, construction works are expected to keep the largest market size in the IoT Blockchain market. Ability to safely monitor things like food and medical supplies; has long been spread as the main benefit of combining blockchain and IoT.
The report shows Blockchain IoT Market by providing applications to customers; end-users by geographic domain. The global forecast for 2024; It is predicted that the growth of these 2 segments will reach a CAGR of 92.92%.