Request Discount

Blockchain Device Market (Type - Crypto ATMs, Crypto Hardware Wallets, Blockchain Smartphones, POS Devices, and Others; Connectivity - Wired, and Wireless; Application - Corporate, and Personal; End User - BFSI, Retail and Ecommerce, Transportation and Logistics, Automotive, IT and Telecommunication, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : February, 2022

  • Rep Id : ICT003058

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

A recent report published by Infinium Global Research on the blockchain device market provides an in-depth analysis of segments and sub-segments in the global as well as regional blockchain device market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional blockchain device market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global blockchain device market. According to the report, the global blockchain device market is projected to grow at a CAGR of more than 38% over the forecast period of 2021-2027.


Blockchain Device Market

Market Insight

The revenue generated by the market was approximately USD 500 million in 2021 and is expected to reach approximately USD 3507 million in 2027. Blockchain technology is essentially a record-keeping system that stores information in a chain of blocks. It is a sort of decentralized distributed ledger that records, shares, and synchronizes transactions. Blockchain is an emerging technology that many organizations are using in their operations. The technology offers greater record-keeping capabilities, cost-effectiveness, and other benefits. The primary application of blockchain technology is cryptocurrency. Thus, various blockchain devices are developed around it such as Crypto ATMs, Crypto Hardware Wallets, POS devices, and others. Other blockchain devices are Blockchain Smartphones and others. Also, as the applications of blockchain technology increase, more devices using blockchain technology are expected to enter the market.

 

The growing use of blockchain in the BFSI industry is expected to propel the blockchain sector forward. Banks all across the world are using blockchain technology in their fund transfer processes. The blockchain's key functions in the banking and financial industries include lower transaction fees, increased transparency, and greater security against hacker assaults. The transactions in BFSI are expected to increase exponentially in the coming times owing to the growing number of people entering the BFSI industry. B blockchain technology also provides rapid, safe, and low-cost international payment processing, thus it is widely used in money transferring services by BFSI. The transaction volume of cryptocurrencies is growing day by day. Cryptocurrencies are being widely adopted in numerous industries as payments and also cryptocurrency trading is growing as more people are investing in it. Countries such as El Salvador are giving legal tender status to cryptocurrencies which are further expected to promote cryptocurrency transactions. Both these factors are driving the growth of the market. The growth of the market may be restrained as blockchain is going through a skeptical phase. Nevertheless, new growth opportunities are in foresight as blockchain technology is subjected to consistent changes and is seeing increased investments in it.

 

North America has been a leading region in the adoption of blockchain technology. Companies such as Tesla are planning on accepting cryptocurrencies as payment for their services and products and have already started to some extent. Such positive indications are expected to boost the cryptocurrency transaction in North America. Furthermore, the North American region has a wide base of people that have invested heavily in cryptocurrencies such as bitcoin and Ethereum. The BFSI and healthcare industry are actively adopting blockchain technology. All these factors are expected to boost the use of blockchain devices in North America. North America has its own North America Blockchain Association which aims at organizing, connecting, initiating, and facilitating Blockchain technology initiatives in the region. The positive outlook of the government towards blockchain technology is expected to boost the market of blockchain devices in North America. Asia-Pacific is expected to be the fastest-growing region in the market owing to the growing adoption of blockchain devices in the end user industries.

 

Segment Covered

The report on the global blockchain device market covers segments such as type, connectivity, application, and end user. On the basis of type, the sub-markets include crypto ATMs, crypto hardware wallets, blockchain smartphones, pos devices, and others. On the basis of connectivity, the sub-markets include wired, and wireless. On the basis of application, the sub-markets include corporate, and personal. On the basis of end user, the sub-markets include BFSI, retail and ecommerce, transportation and logistics, automotive, it and telecommunication, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as HTC Corporation, Ledger SAS, General Bytes R.O., Blockchain Luxembourg S.A., AVADO AG, SatoshiLabs, Genesis Coin Inc., Pundi X Labs Private Limited, Lamassu Industries AG, and Filament.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the blockchain device market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Other Reports in This Category
24 hour delivery through email
9923950043 Monday to Frieday 9am-7pm
looking for discount