Reliable Data You Can Trust
Reliable Data You Can Trust
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.
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.
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.
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.
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.
Please Choose One of them.