Combination of Blockchain and IoT Authentication will be Key for Business Automation
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As blockchain promises to replace third parties with a network of nodes to verify transactions and to make the process faster, it has gained massive attention from financial services sectors. Many non-traditional firms even have entered into the ecosystem to create blockchain networks to facilitate financial transactions. Some of the popular applications of blockchain in financial services include peer-to-peer payment transactions, payment clearing and settlement, and money exchange between parties.
We see blockchain and related distributed authentication and accounting technologies transforming ICT systems and processes. There will also be a substantial impact in terms of business model disintermediation across a wide variety of industry verticals. Lessons learned in FinTech and traditional banking from the deployment and operation of decentralized authentication, clearing and settlement, will be applied towards many telecom and computing problems for the benefit of many industry verticals.
The impact will be wide-ranging, including everything from investing/trading to the legal cannabis industry, and very deep in terms of changes to supply chains and relationships between vendors, customers, and peers. We are already starting to see major impacts in shipping, food safety, and various logistics-heavy industries.
Integration and operation of blockchain technology will redefine how various industries operate, dramatically improving efficiencies, and reduce the cost of doing business. One important example is the Internet of Things (IoT), which is a very promising area as analysts anticipate that the use of blockchain in IoT networks/systems will be one of the means for authenticating and authorizing transactions.
We see Blockchain as a Service (BaaS) representing a key service offering for many market segments as a means of solution introduction and scalability via a cloud services model. BaaS service providers will include many different types of services such as customize blockchain applications for cloud services, specific industries, custom consulting, and integration with existing systems.
IoT authentication and authorization solutions are important in support of IoT data management including access and management with a Data as a Service (DaaS) model, which is defined as any service offered where users can access vendor provided databases or host their own databases on vendor managed systems.
IoT Data as a Service (IoT DaaS) offers convenient and cost-effective solutions to enterprises of various sizes and domains. IoT DaaS constitutes retrieving, storing and analyzing information and providing customers either of the three or integrated service packages depending on the budget and the requirement. Acquiring (capturing and/or licensing), storing, processing, and distributing IoT data is anticipated to become a multi-billion-dollar business by 2025.
IoT authentication and authorization solutions are also important in support of the “things” involved in IoT, which vary from devices used to detect, actuate, signal, engage, and more. IoT things also involve everything from gateways, modules, and sensors to hardware and embedded software within products and equipment and other consumers, enterprise, and industrial assets. The IoT ecosystem could easily become highly cumbersome with so many different “things” to consider as part of IoT provisioning, activation, administration and other management functions.
More specifically, IoT authentication and authorization solutions are important in support of IoT device management in concert with the expanding scope of devices by volume, type, purpose, role and importance. Authentication ensures proper IoT device security, which goes beyond access (to device, network/system, etc.) and includes data security/privacy as well as securing proper decisions (e.g. ensuring that autonomous processes are carried forth in a manner that is not detrimental).
This research evaluates the technology, leading companies, and solutions in the evolving blockchain ecosystem. The report evaluates current and anticipated use cases for blockchain and assesses the market potential globally, regionally, and segmented by deployment type and industry vertical for the period 2020 to 2025.
The research also evaluates key players, solutions, and use cases. It also assesses the prospect of integrating blockchain with other technologies including IoT and artificial intelligence. The report includes detailed forecasts by use case, application, and industry verticals. This includes blockchain applications and solutions for both financial and non-financial markets.
This research also assesses the market for IoT authentication and authorization by technology, solutions, and industry verticals with forecasts from 2020 to 2025. The report analyzes IoT authentication and authorization market drivers and opportunities. The report also assesses IoT authentication and authorization infrastructure requirements.
Target Audience:
- IoT companies
- Systems integrators
- Data services companies
- Banking and FinTech industries
- Network operators and service providers
- Managed communication services companies
- Telecom and computing infrastructure providers
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Table of Contents
Blockchain Technology Market by Service Type, Applications, Solutions, Industry Verticals 2020 - 20251 Executive Summary
Companies Mentioned
- 21, Inc.
- Abra, Inc.
- Accenture
- Alphapoint Corporation
- Amazon
- Baidu
- Bitfury Group
- Blockchain Global Limited
- BlockCypher, Inc.
- Bloq
- BTL Group (Blockchain Tech Ltd.)
- Chain, Inc.
- Circle Internet Financial Limited
- Coinbase
- Coinfirm Ltd.
- ConsenSys Systems (ConsenSys)
- Credits
- Dell Technologies
- Deloitte Touche Tohmatsu
- Digital Asset Holdings
- Digitalx Ltd. (Digital Cc Ltd.)
- DMG Blockchain Solutions
- Earthport
- Factom Inc.
- Fidelity Investments
- Global Arena Holding, Inc. (GAHC)
- Holo
- HP
- HyperLedger
- IBM Corporation
- Intelygenz
- IOTA
- Libra Services, Inc.
- Linux Foundation
- Microsoft Corporation
- Monax
- NASDAQ
- Overstock
- R3
- Ripple
- ShoCard
- Tecent
Methodology
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