The global Blockchain IoT market size is expected to reach USD 10678.4 million by 2030 and exhibit a CAGR of 45% in the forecast period (2023-2030). The increased need for data security and privacy, growing demand for transparent and traceable supply chains, rising adoption of IoT devices and applications, and expansion of blockchain infrastructure and service providers are fueling the market’s growth. Hybrid blockchain solutions, integration of blockchain with edge computing and AI technologies, the emergence of interoperability protocols for blockchain IoT systems, focus on scalability and transaction throughput, growth of consortiums and partnerships for industry-specific blockchain IoT solutions, exploration of tokenization and cryptocurrency use cases in IoT ecosystems, development of blockchain IoT platforms and frameworks, and the demand for software components are the trends that aid in the market’s growth.
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