It is interesting to know that 3/4th of the IoT technology users in the US have already embraced blockchain or have the technology in the pipeline to be implemented by the end of 2020.
To back this up, the research conducted by Gartner shows that 75% of enterprises in the States, who have implemented IoT, plan to integrate it with blockchain.
Gartner, the most reliable tech analytics firm, also brings some good news for companies planning to integrate IoT with blockchain technology. They say you are not alone.
The forecast predicts the integration to reach 89% within the next 2 years, indicating that companies with substantial IoT investment anticipate value in the adoption of blockchain channelized to enhance IoT security and reliability.
Additionally, to enhance parallel operations of the IoT and blockchain, 94% of companies with an established IoT platform (defined by Gartner as using KPIs and centers of excellence in their IoT systems) are focusing on connecting their IoTs with blockchain.
Gartner VP, Avivah Litan, added, “The integration of IoT and blockchain networks is a sweet spot for digital transformation and innovation.” She also said, “It is actually moving ahead at a much faster pace than expected, according to the survey.”
More on the research
The Gartner Implementation Trends Survey was online and conducted for a quarter (from May through June 2019). It surveyed over 500 respondents, and the predefined criteria for the US respondents were to be at a manager level or above. They also needed to have primary involvement in decision making in IoT.