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Phenomenal growth predicted for global blockchain IoT market

According to the Indian market research firm Research Dive, the global blockchain IoT sector will likely produce revenue of $5.8 billion (€4.9 billion) by 2026.

As reported by Blockchain.News, the report calculates a compound annual growth rate (CAGR) of 91.5% during the forecast period from 2019 to 2026.

“As per the analysts… rising implementation of the internet of things (IoT) in various end-use industries and the growing necessity for streamlining business processes and IoT security across the globe are the major factors anticipated to accelerate the growth of the global market over the forecast period,” says the report.

The report also noted that the significant adoption of digital identity and blockchain services for smart contracts would enhance growth in the market.

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