Research Dive: the market for IoT devices on the blockchain will grow to $5.8 billion to 2026 year – Bits Media

The blockchain will grow to $5.8 billion to 2026 year – Bits Media />

According to Research Dive, Investments in the global market for Internet devices (IoT) on the blockchain will continue to grow, and to 2026 the size of the market will reach $5.8 billion.

Researchers predict a further total rate of annual growth of the IOT devices market on the blockchain on 91.5% - at such a speed, the market grows with 2018 of the year, When it was evaluated in $32 million. The ability of smart devices to increase the efficiency of the supply chain through the use of blockchain and the elimination of intermediaries will make transactions faster and at a lower price.

The fastest growing market segment will be smart cities with an average annual growth rate 93.9% - the cost of the market segment will reach $639.4 Milln K. 2026 year. Smart cities will use IoT technology in all aspects of everyday life, Therefore, blockchain will be used to protect the personal data used by personal data devices.

The most active growth in the use of IOT devices on the blockchain will occur in the Asia-Pacific region-the average annual growth rate will be 94.8%, and the market in the region will increase to $1.46 billion to 2026 year. Basically, growth will be associated with the rapid expansion of infrastructure and manufacturing in developing countries, eg, India, China and South Korea.

The average annual growth rate of the IOT market on the blockchain in North America will be 90.1% And it will reach $1.75 billion in five years. Researchers Research Dive note, that despite the wide range of advantages of technology, Market growth slows down insufficient awareness of blockchain.

According to research company ReportLinker, In the next four years, the application market for identification using blockchain will also grow on $3.58 billion.