Blockchain IoT Market Size, Share, and Trends 2025 to 2034

Blockchain IoT Market Size and Forecast 2025 to 2034

The global blockchain IoT market size was accounted for USD 761.03 million in 2024 and is anticipated to reach around USD 74772.36 million by 2034, growing at a CAGR of 58.21% from 2025 to 2034. The increasing demand for safety and transaction transparency is a major factor boosting the growth of the market. Moreover, the rising adoption of digital assets is driving the market.

Blockchain IoT Market Key Takeaways

• North America dominated the global market with the largest share in 2024.
• Asia Pacific is expected to grow at the fastest CAGR during the forecast period.
• By component, the software and platform segment held the largest market share in 2024.
• By component, the hardware segment is anticipated to witness significant growth in the coming years.
• By application, the smart contracts segment led the market in 2024.
• By application, the asset tracking & management segment is expected to expand at the fastest rate during the forecast period.
• By organization size, the small & medium-sized enterprises (SMEs) segment dominated the market in 2024.
• By organization size, the large enterprises segment is anticipated to register the highest CAGR over the studied period.
• By vertical, the transportation & logistics segment dominated the market with the largest share in 2024.
• By vertical, the healthcare segment is projected to grow at a notable CAGR during the forecast period.

How AI is contributing to the Blockchain IoT Market?

Integrating artificial intelligence technologies with blockchain IoT improves efficiency and security. The integration of AI with blockchain not only improves quality control and privacy but also helps businesses make decisions and automates various tasks efficiently. Various sectors, such as healthcare, agriculture, education, e-commerce, energy, and transportation, are adopting AI-powered blockchain IOT solutions. AI analyzes the vast amounts of data generated by IoT devices to identify patterns, reduce anomalies, and enhance security.

U.S. Blockchain IoT Market Size and Growth 2025 to 2034

The U.S. blockchain IoT market size was evaluated at USD 230.83 million in 2024 and is predicted to be worth around USD 22840.23 million by 2034, rising at a CAGR of 58.32% from 2025 to 2034.

North America dominated the market with the largest share in 2024. This is mainly due to the region's early adoption of blockchain technology. Well-established IoT infrastructure in the region has made blockchain integration much easier. There is a heightened adoption of advanced technologies in sectors like healthcare, pharmaceuticals, research & development, and logistics. Additionally, the region is at the forefront of technological advancements, boosting the development and adoption of blockchain IoT solutions.

Why United States leading the blockchain IoT market?

The well-developed IoT infrastructure and growing adoption of blockchain technology help in the market growth. The strong presence of major technology and startups increases demand for the blockchain IoT. The strong government support for the adoption of blockchain IoT solutions drives the market growth. Additionally, growing demand from various sectors like logistics, research, healthcare, and pharmaceuticals supports the overall growth of the market.

The U.S. is a leading country in the market due to the rising number of internet users. Early digitalization in the U.S. contributes to the blockchain IoT market expansion in North America. The country has witnessed a significant increase in the demand for secure data management solutions. Additionally, rising government initiatives and support for developing and adopting blockchain technology to market expansion.

The market in Asia Pacific is expected to grow at the fastest CAGR during the forecast period due to the increasing adoption of cutting-edge technologies. The rising government initiatives to encourage the adoption of blockchain technology and internet of things (IoT) devices are also fueling the market growth. Government funding and collaborations between key companies are significantly boosting the adoption rate of cutting-edge technologies, including blockchain IoT solutions. With the rising digitalization, there is a high need for secure and efficient IoT solutions in countries like China, India, Japan, and South Korea.

Singapore is leading the market due to the rising innovations and developments of blockchain and IoT solutions. Additionally, government and regulatory support and investment are further pushing the country to bring innovations in blockchain IoT. For instance, the Monetary Authority of Singapore has supported the adoption of blockchain IoT solutions in companies for controlled environments.

• In September 2024, the Ministry of Industry, Science, Technology & Innovation (MISTI) collaborated with the DFINITY Foundation, a Swiss nonprofit specializing in blockchain and AI. As per the partnership agreement, the DFINITY Foundation signed a Letter of Intent (LOI) with MISTI during the Singapore Blockchain Week. This partnership aims to help Cambodia become a key player in blockchain, AI, and cloud technology innovations in Southeast Asia.

China’s blockchain IoT market trends

China is a major contributor to the blockchain IoT market. The growing digital transformation and strong government support through initiatives like Digital China increase demand for blockchain IoT, helping market growth. The growing smart city developments increase demand for blockchain IoT for citizen engagement, infrastructure management, and public services. The strong focus on software and platform development for various applications helps in the market growth. Furthermore, the growing demand from various industries drives the growth of the market.

Market Overview

Numerous blockchain platforms concentrating on IoT are evolving as the business. IOTA is one of the initial blockchain IoT platforms. It was intended explicitly for the Internet of Things (IoT) and delivers a data transfer layer and transaction settlement for linked devices. Blockchain technology is the absent link to determine reliability, privacy, and scalability apprehensions in the IoT (Internet of Things). Blockchain technologies are effective resolutions required for the Internet of Things business. Blockchain technology can track thousands of millions of connected equipment, allowing the processing of communications and synchronization between devices. This distributed approach would eradicate single points of disaster, creating an extra resilient network for devices to operate on. The cryptographic procedures used by blockchain can make consumer information more private, thus making it secure and more dependable.

The market is experiencing significant growth due to the rising development of smart cities and the increasing adoption of automation technologies. Blockchain IoT enhances transparency, security, and efficiency. The ability of blockchain IoT to operate decentralized networks, devices, and data integrity to ensure unauthorized access and risks is enhancing their popularity. With the rising focus on digitization, the blockchain IoT market is expected to witness rapid growth during the forecast period.

Blockchain IoT Market Growth Factors

• Increasing adoption of IoT devices: With the rising need for secure and efficient data management, the adoption of IoT devices is increasing rapidly in various industries, contributing to market expansion.
• Better transparency offered by blockchain technology: The need for transaction transparency is increasing due to the growing utilization of cryptocurrency and the rising number of frauds. Blockchain technology offers a secure way to manage data, reducing the risk of hacks and data breaches.
• Rising implementation of blockchain technology in the healthcare sector: Rapid advancements in healthcare infrastructure have drawn attention toward adopting blockchain technologies for better data sharing.
• Supply chain transparency: Blockchain is increasingly being used to improve transparency in the supply chain. IoT devices track products in real-time, and blockchain technology ensures that data is secure, reducing data breach risks.

Market Scope 

Value Chain Analysis

• Procurement: The acquisition of the necessary IoT sensors, hardware, and raw materials," with blockchain offering an immutable record of the origin and authenticity of each component to uphold quality and avoid counterfeiting.

Key Players: BMW and GM

• Operations: Processing insight raw data from IoT devices to actionable insights, with data stored and validated on the blockchain for integrity, automation, and real-time visibility of the whole process together.

Key players: IoTeX, SAP SE

• Inbound Logistics: Receiving, storing, and distributing raw materials and IoT devices, with the blockchain generating an authenticated and tamper-proof record of inventory movement and condition.

Key Players: DHL, Maersk, Oracle

• Outbound Logistics: Processing finished products from storage and distributing them to the customer, with the blockchain guaranteeing transparency and traceability from the source to final delivery.

Key Players: CargoX, FedEx, and UPS

• Marketing and Sales: "Marketing and selling the product or service, relying on the blockchain's immutable records to build a sense of trust with customers by providing customers with verifiable data on the product's origin, quality, and the supply chain's history.

Key Players: VeChain, TE-FOOD

Market Dynamics

Driver

Need of secure data management

With the rapid expansion of businesses worldwide, there is a high need to secure and manage vast amounts of data. A large number of businesses are adopting IoT devices to streamline business operations, which requires secure management. Additionally, the increasing risk of cyberattacks, unauthorized access to sensitive information, and the need for compliance with regulatory standards are further driving the adoption of blockchain IoT to secure and manage data. Blockchain IoT solutions are able to provide decentralized data storage and reduce the risk of data branches. The increasing need for data management solutions significantly drives the adoption of blockchain IoT solutions.

Restraint

Scalability

Scalability is a major challenge in the global blockchain IoT market. Most blockchain networks have limited transaction capacity and slow speed. Transactions become very poor and slow, especially when blockchain deals with a large amount of data. Additionally, the high latency of blockchains also creates difficulties in supporting real-time IoT applications. Scalability issues have become one of the major factors limiting the adoption of blockchain IoT solutions.

Opportunity

Improved security

There are lots of security challenges in blockchain IoT solutions, including data breaches, device tampering, malware and ransomware, and DDoS attacks. However, rising investments in research & development and the integration of advanced technologies are improving blockchain IoT solutions' security and efficiency. Developing secure data storage solutions to enhance security, implementing device authentication mechanisms to detect unauthorized access and encryption, and developing intrusion detection and prevention to detect and prevent security threats are helping blockchain IoT solutions overcome major security issues. Such advancements are encouraging companies to invest more in advanced blockchain IoT solutions.

• In October 2024, Coinbase collaborated with Tether to develop and launch blockchain and artificial intelligence (AI) tools to improve privacy and autonomy in decentralized networks. This tool is determined to enhance how developers interact with blockchain technology by giving users more control and privacy.

Component Insights

The software and platform segment dominated the blockchain IoT market with the largest share in 2024. This is mainly due to the increased focus on software development for implementing blockchain IoT. The increased requirement of transparency and traceability in supply chains further bolstered the segment's growth. Additionally, the heightened need to enhance the scalability and security of blockchain applications influenced the segment.

The hardware segment is anticipated to witness significant growth in the coming years. The segment growth is attributed to the increasing demand for IoT devices, which drives the need for hardware. Additionally, the rising adoption of cutting-edge hardware to develop more efficient and safer blockchain solutions is expected to boost the segment growth.

Application Insights

The smart contracts segment led the market by holding the largest share in 2024 due to their increased demand for quick transactions. Smart contracts are increasingly adopted in both private and public domains as they permit peer-to-peer processes on community blockchains and possess the potential to progress efficacy and transparency in commercial collaborations. The ability of smart contracts to automate decision-making and enhance security and transparency further bolstered the segment. Additionally, the increased need for supply chain management, device management, data management, and efficient communication between IoT devices for data exchange and coordination has increased the adoption of blockchain IoT in smart contracts.

The asset tracking & management segment is expected to expand at the fastest rate during the forecast period due to the rising need to optimize the supply chain. With the increasing need for real-time tracking of assets to improve the efficiency of businesses, the adoption of IoT devices is increasing. Asset tracking & management solutions streamline supply chain operations, reduce costs, and ensure compliance with regulations.

Organization Size Insights

The small & medium-sized enterprises (SMEs) segment dominated the blockchain IoT market with the largest share in 2024. The increased implementation of IoT solutions in SMEs to help meet regulatory compliance requirements is a major factor contributing to the segment’s dominance. Additionally, the ability of blockchain IoT solutions to improve security, agility, and transparency makes them more popular among SMEs to enhance their business operations and reduce costs.

The large enterprises segment is anticipated to register the highest CAGR over the studied period. The segment growth is attributed to the rising adoption of blockchain IoT solutions in large enterprises due to the increasing need for enhanced security, transparency, and traceability. Moreover, there is a heightened requirement for blockchain IoT solutions in large enterprises for data management, real-time monitoring & assessments, and meeting regulatory compliance requirements. Blockchain IoT solutions ensure the secure sharing and storage of data among authorized participants. 

Vertical Insights

The transportation & logistics segment accounted for the largest share of the blockchain IoT market in 2024. The segment’s dominance is attributed to the rapid adoption of blockchain IoT solutions in the transportation & logistics sector due to their ability to enhance supply chain transparency, which helps to reduce the risks. Additionally, the ability to provide stockout and overstock data of blockchain IoT makes them more essential in the sector. The requirement of smart contracts and security management is projected to enhance the adoption of blockchain IoT solutions in the transportation & logistics sector. 

The healthcare segment is projected to grow at a notable CAGR during the forecast period due to the rising advancements in healthcare infrastructure. Advanced healthcare infrastructure requires reliable solutions for real-time tracking, monitoring, and maintenance of healthcare data and devices. The ability of blockchain IoT to optimize clinical trials, supply chain management, data analytics, and real-time decision-making plays a key role in improving patient outcomes. With rapid advancements in healthcare, the utilization of advanced and smart technologies is rising, contributing to segmental growth.

Blockchain IoT Market Companies

• The Linux Foundation
• ArcTouch LLC
• Microsoft Corporation
• Chronicled
• Amazon.com, Inc.
• Ethereum Foundation
• KrypC Technologies
• Cisco Systems, Inc. 
• IoTEX
• R3 LLC
• IBM Corporation
• Intel Corporation

Industry Leaders’ Announcements

• In September 2024, WISeKey International Holding Ltd., a leading global cybersecurity and IoT company operating as a holding company, announced that its subsidiary Sealcoin AG, which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform, announced the final timeline for the SEALCOIN project, including the highly anticipated release of its whitepaper in October 2024. Carlos Moreira, CEO of SEALCOIN AG, shared a roadmap and vision for the future of IoT transactions.

Segments Covered in the Report

By Component

• Hardware
• Software and platform
• Services

By Application

• Data Security
• Smart Contracts
• Asset Tracking & Management
• Others

By Organization

• SMEs
• Large Enterprises

By Vertical

• Transportation & Logistics
• Manufacturing
• Healthcare
• Retail
• Consumer Electronics
• Smart City
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa