Tata Communications and Thales partner teams up to secure the data generated by connected devices which will positively impact the IoT Market
Global: Tata Communications has associated with Rafale aircraft vendor Thales to develop a secure connectivity solution for the Internet of Things (IoT) devices. Tata Communications' mobility and IoT platform MOVE, and Thales' T-Sure technology will collaborate for securing data generated by connected devices such as cars and trucks under the agreement. Thales will provide its T-Sure warranted digital identity solution to Tata Communications Move SIM cards While MOVE will encrypt the data in motion (in current use), T-Sure will play the role of protecting the information at rest (archived) on SIM, therefore safeguarding data both on the network and at the device level.
According to BlueWeave consulting, the global IoT market is growing rapidly owing to innovations, technical advancements and investment in R&D. Blockchain for IoT can also be used to track billions of connected devices. Blockchain helps in integrating, processing and coordinating the number of various devices without the use of a traditional server route to communicate between each device. This will have a great impact on cost minimization on installing and maintaining servers for an IoT network. Massive scalability of the IoT network is a feasible option after significant cost savings. IoT and blockchain combination help smart devices in exchanging the data and flow of financial transactions through a decentralized system. The growing use of blockchain for solving IoT's security problems like weak security and proliferating devices are vital factors expected to encourage the growth of the global Blockchain IoT market in the upcoming period.
According to BlueWeave consulting’s Upcoming report, Titled “Global Blockchain IoT Market Size, By Offering (Hardware, Software, and Infrastructure Provider), By Application(Smart Contract, Data Security, Data Sharing/Communication, and Asset Tracking& Management), By Region (North America, Europe, Asia Pacific, Middle East& Africa and Latin America); Growth Potential, Trends Analysis, Competitive Market Size and Forecast, 2015-2025”
The global blockchain IoT market is expected to grow at a significant rate, during the forecast period 2019-2025. Owing to higher adoption of blockchain solutions for smart contracts and digital identity and rising government initiatives for utilizing applications of blockchain technology are other factors estimated to accelerate the growth of the market in the upcoming years. Moreover, increasing penetration of blockchain and IoT for systematic business process, security arrangements, rising transparency and growing focus on operation activities will fuel the demand for blockchain IoT in the forecast period.
Further, the rapid adoption of IoT-enabled blockchain in freight transportation for temperatures, position, arrival times, and status of shipping containers as they move through the system will contribute to the growth of the Blockchain IoT market in upcoming periods. Additionally, the huge surge in applications of IoT enabled Blockchain for IoT devices to track the state of safety of critical machines and their maintenance in any organization will enable machines to efficiently and quickly perform more mundane and time-consuming tasks will foster the other markets such as global next-generation data storage market.