The North America Blockchain IoT Market would witness market growth of 56.2% CAGR during the forecast period (2023-2030).
Market expansion is anticipated to be fueled by the increasing acceptance of integrating blockchain and IoT devices, which improves security by enabling decentralized and tamper-proof data storage and communication. Similarly, the market expansion is projected to be aided by the growing trend of selectively managing, analyzing, customizing, and sharing data with approved clients and partners. This trend offers organizations more control and flexibility over their data. It is also projected that significant players will continue using the technology, accelerating market expansion.
As an illustration, in October 2022, Samsung Electronics unveiled Knox Matrix, an enhanced security solution that uses blockchain technology to protect a device ecosystem. The Knox Matrix is anticipated to act by the user's private blockchain system, increasing security through multi-layered mutual monitoring with connected devices. During the forecast period, market growth is anticipated to be fueled by such technological adoption by leading market players. Additionally, the market expansion is anticipated to be fueled by the new trend of smart contract usage. The automation of numerous IoT transactions, such as asset tracking, payments, and supply chain management are made possible by these self-executing contracts maintained on a blockchain. This trend in IoT ecosystems streamlines procedures, boosts effectiveness, and lessens dependency on intermediaries, which is predicted to accelerate market expansion during the forecast period.
The Joint Economic Report of the United States government focuses on the use of blockchain technology by various government and public entities. Since 2018, numerous comprehensive programs in Delaware and Illinois have been in place to expedite the work and reduce transactional costs. The US government is currently formulating its regulatory posture regarding the adoption of the technology. Additionally, there is a specialized Center for Blockchain and Digital Innovation in Wyoming, United States. Wyoming has blockchain-centric legislation and recently passed a DAO legal framework. Overall, the U.S. government is moving quickly to implement blockchain technology for a variety of applications. American enterprises are the most innovative in the globe. Digital asset companies are not unique. The United States is home to approximately fifty percent of the world’s 100 most valuable financial technology companies in 2022, the majority of which trade in digital asset services. This wide adoption of blockchain technology in the region is estimated to support the growth of regional market.
The US market dominated the North America Blockchain IoT Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,958.3 million by 2030. The Canada market is showcasing a CAGR of 59.7% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 58.3% during (2023 - 2030).
Based on Application, the market is segmented into Smart Contracts, Data Security. Asset Tracking & Management, and Others. Based on Vertical, the market is segmented into Transportation & Logistics, Consumer Electronics, Manufacturing, Healthcare, Retail, Smart City, and Others. Based on Component, the market is segmented into Software & Platform, Hardware, and Services. Based on Organization Size, the market is segmented into Large Enterprises, and SMEs. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Blockchain IoT Market is Projected to reach USD 11.9 Billion by 2030, at a CAGR of 57.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Amazon.com, Inc., Intel Corporation, Microsoft Corporation, Cisco Systems, Inc., The Linux Foundation, KrypC Technologies, IoTeX, ArcTouch LLC (AKQA Group) (WPP plc), and R3 LLC.
By Application
By Vertical
By Component
By Organization Size
By Country
Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
Unique Offerings 