Global Blockchain Devices Market, By Type (Blockchain Smartphones, Crypto Hardware Wallets, Crypto Automated Teller Machines, Point Of Sale Devices, Others), Connectivity (Wired, Wireless), Application (Personal, Corporate), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel and Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Blockchain Devices Market
Growth and expansion of semiconductors industry especially in the emerging ones, growing usage of blockchain devices by the small and medium scale end user enterprises in the developing economies, surging number of end user industries in the developing economies, increasing trend of cryptocurrency, rising venture capital funding, rising up gradation of existing infrastructure with advanced systems and increasing infrastructural development activities especially in the developing economies are the major factors attributable to the growth of blockchain devices market. Data Bridge Market Research analyses that the blockchain devices market will exhibit a CAGR of 43.15% for the forecast period of 2022-2029. Therefore, the blockchain devices market value would rocket up to USD 7,659.71 million by 2029.
From the name itself, it is clear that blockchain devices are the combination of hardware and components that support blockcain technology. Blockchain devices are used to mine the cryptocurrencies and ensure higher safety encryption.
Rising demand from the banking financial services and insurance industry and growth in the digitization of economies especially the the developing economies will emerge as the major market growth driving factors. Growing penetration of Wi-Fi, Bluetooth, smartphones and internet, surging popularity of a wide range of cryptocurrencies, increasing visibility of benefits of blockchain technology in financial sector, rising acceptance of cryptocurrencies as mode of payment across various industries, and widespread industrialization will further aggravate the market value. Growing expenditure to undertake research and development proficiencies, growing awareness about the benefits such as high transparency and security in blockchain technology and continuous developments in blockchain technology will further carve the way for the growth of the market.
However, high costs associated with the research and development proficiencies will act as growth restraints for the market. Also, stringent regulatory framework in the developing economies and skepticism about blockchain technology will further dampen the growth rate of the market. Large scale technological and infrastructural limitations, security, privacy, and control-related challenges associated with blockchain technology and regulatory uncertainty associated with blockchain implementation will further challenge the market growth rate.
This blockchain devices market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on blockchain devices market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Blockchain Devices Market Scope and Market Size
The blockchain devices market is segmented on the basis of type, connectivity and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of type, the blockchain devices market is segmented into blockchain smartphones, crypto hardware wallets, crypto automated teller machines, point of sale devices and others. Crypto automated teller machines are further segmented into one way crypto automated teller machines and two-way crypto automated teller machines. Other devices are further segmented into blockchain gateways and pre-configured devices.
- Based on connectivity, the blockchain devices market is segmented into wired and wireless.
- Blockchain devices market is also segmented into personal and corporate, on the basis of application. Corporate segment is further segmented into banking financial services and insurance, government, retail and e-commerce, travel and hospitality, automotive, transportation and logistics, IT and telecommunication and others.
Blockchain Devices Market Country Level Analysis
The blockchain devices market is analysed and market size, volume information is provided by country, type, connectivity and application as referenced above.
The countries covered in the blockchain devices market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates in blockchain devices market because of early adoption of blockchain devices, high potential for the blockchain devices market in next four to five years, especially for the tracking and monitoring of assets and chip-level security and availability of advanced technologies to implement and manage information via blockchain network. Asia-Pacific region will score the highest growth rate owing to the rising infrastructural development activities, rapid digitization of the economies and increasing acceptance of blockhain technology.
The country section of the blockchain devices market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Blockchain Devices Market Share Analysis
The blockchain devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to quick connect coupling in blockchain devices market.
Some of the major players operating in the blockchain devices market are Ledger SAS., HTC Corporation, Pundi X Labs Pte. Ltd., GENERAL BYTES S.R.O., RIDDLE&CODE GmbH, Sikur., SIRIN LABS, Blockchain.com, Inc., SatoshiLabs, Genesis Coin Inc., Lamassu Industries AG, SAMSUNG, ShapeShift, CoolBitX, Bitaccess, Covault, ELLIPAL, IBM and Microsoft among others.
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