The Business Research Company’s report on the Blockchain Devices Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
What are the key drivers behind the blockchain devices market’s growth in recent years?
The increasing investments in blockchain technology are significantly contributing to the growth of the blockchain devices market. There has been an increase in adoption and implementation of real-world blockchain solutions across a wide range of industries and businesses. Organizations have expanded their investments in blockchain technology, proving their dedication to the technology. For instance, in August 2022, Alphabet, a US-based technology company, invested $1.5 Billion in various blockchain companies. The investment indicates wider trend of tech companies and investors leaning more towards blockchain and Web 3.0 as means for a more democratized information technology environment.
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How does the future projection of the blockchain devices market size compare to its historical growth?
The blockchain devices market size has grown exponentially in recent years. It will grow from $1.22 billion in 2024 to $1.67 billion in 2025 at a compound annual growth rate (CAGR) of 36.9%. The growth in the historic period can be attributed to increase in cryptocurrency growth, decentralized finance (defi) expansion, security and tamper-proofing, enhanced privacy solutions, hardware-based security modules, regulatory compliance solutions.
The blockchain devices market size is expected to see exponential growth in the next few years. It will grow to $6.05 billion in 2029 at a compound annual growth rate (CAGR) of 38.0%. The growth in the forecast period can be attributed to decentralizing identity solutions, emergence of tokenization, increasing adoption in emerging markets, decentralizing autonomous organizations, cross-chain solutions. Major trends in the forecast period include smart contracts execution devices, blockchain in healthcare devices, real-time transaction verification, smart contracts execution devices, integration with artificial intelligence.
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Which key players are shaping the future of the blockchain devices market?
Major companies operating in the blockchain devices market include Ledger SAS, SatoshiLabs Group, Sirin Labs AG, Pundi X Labs Pte. Ltd., Genesis Coin Inc., GENERAL BYTES s. r. o., HTC Corporation, RIDDLE&CODE GmbH, ShapeShift AG, Bitaccess Inc., Coinsource Inc., SAMSUNG Electronics Co. Ltd., Infineon Technologies India Private Ltd., Helium Systems Inc., Avado, Lamassu Industries AG, SafePal, PAYMYNT Financial Group Inc., modum. io AG, NXM Labs Inc., Blockchain Luxembourg S. A, Tangem AG, Filament Corporation, Sikur Inc., CoVault Inc., ELLIPAL, International Business Machines Corporation, Microsoft Corporation, Canaan Creative Co. Ltd., Ebang International Holdings Inc., Bitfury Holding B. V., CoolBitX Technology Ltd., OPENDIME by Coinkite Inc.
What trends will propel the growth and evolution of the blockchain devices market?
Major companies in the blockchain devices market are focused on developing new technological solutions, such as Web3 Acceleration Platform, to enhance interoperability and scalability in decentralized applications. A Web3 Acceleration Platform is a comprehensive framework that enables developers to efficiently create, deploy, and scale decentralized applications (dApps) by providing essential tools and resources for smart contract integration and user identity management across multiple blockchain networks. For instance, in June 2023, Fujitsu, a Japan-based information and communications technology company, launched the Web3 Acceleration Platform to facilitate the development of Web3 services and enhance collaboration in developing Web3 services by providing secure data exchange and advanced computing capabilities through its innovative Data e-TRUST technology. It fosters a global co-creation environment, allowing diverse partners to collaborate on cutting-edge applications while promoting digital trust and authenticity in transactions.
Which regions are expected to become dominant players in the blockchain devices market?
North America was the largest region in the blockchain devices market in 2024.Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the blockchain devices market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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What are the emerging key segments in the blockchain devices market, and how are they evolving?
The blockchain devices market covered in this report is segmented –
1) By Type: Blockchain Smartphones, Crypto Hardware Wallets, Crypto Automated Teller Machines (ATMs), Point Of Sales (POS) Terminals
2) By Connectivity: Wired, Wireless
3) By Application: Personal, Corporate
4) By End User: Consumer, BFSI, Government, Retail And E-commerce, Travel And Hospitality, Automotive, Transportation And Logistics, IT And Telecommunication, Others (Energy And Utilities, Education, Agriculture, Healthcare, Manufacturing)
Subsegments:
1) By Blockchain Smartphones: Encrypted Communication Smartphones, Blockchain-Enabled Payment Smartphones, Decentralized App (DApp) Smartphones
2) By Crypto Hardware Wallets: USB Hardware Wallets, Bluetooth Hardware Wallets, Multi-Currency Hardware Wallets
3) By Crypto Automated Teller Machines (ATMs): Two-Way Crypto ATMs, One-Way Crypto ATMs, Multi-Currency ATMs
4) By Point Of Sales (POS) Terminals: Mobile POS Systems, Traditional POS Systems With Crypto Integration, Contactless Payment POS Terminals
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How is the blockchain devices market defined, and what are its core characteristics?
The blockchain devices is referred to as a decentralized architecture with built-in security to improve transaction trust and integrity. Blockchain has revolutionized the exchange of information and media. Blockchain technology is widely regarded as a game-changing breakthrough and the harbinger of a new economic era.
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