Blockchain Devices Market 2024 - Market Size, Growth, Trends, Industry Analysis, And Forecast To 2033

by Snigdha M on April 19, 2024

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Overview and Scope
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.

Sizing and Forecast
The blockchain devices market size has grown exponentially in recent years. It will grow from $0.9 billion in 2023 to $1.25 billion in 2024 at a compound annual growth rate (CAGR) of 38.8%. The growth in the historic period can be attributed to increased 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 $4.39 billion in 2028 at a compound annual growth rate (CAGR) of 36.9%. The growth in the forecast period can be attributed to decentralizing identity solutions, emergence of tokenization, increasing adoption in emerging markets, decentralising 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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Segmentation & Regional Insights
The blockchain devices market covered in this report is segmented –
1) Blockchain Devices Market By Type: Blockchain Smartphones, Crypto Hardware Wallets, Crypto Automated Teller Machines (ATMs), Point of Sales (POS) Terminals
2) Blockchain Devices Market By Connectivity: Wired, Wireless
3) Blockchain Devices Market By Application: Personal, Corporate
4) Blockchain Devices Market By End User: Consumer, BFSI, Government, Retail & E-commerce, Travel & Hospitality, Automotive, Transportation & Logistics, IT & Telecommunication, Others (Energy & Utilities, Education, Agriculture, Healthcare, Manufacturing)

North America was the largest region in the blockchain devices market in 2023. 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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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the blockchain devices market report are 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.

The blockchain devices market report table of contents includes:

1. Executive Summary

2. Blockchain Devices Market Characteristics

3. Blockchain Devices Market Trends And Strategies

4. Blockchain Devices Market - Macro Economic Scenario

5. Global Blockchain Devices Market Size and Growth

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32. Global Blockchain Devices Market Competitive Benchmarking

33. Global Blockchain Devices Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Blockchain Devices Market

35. Blockchain Devices Market Future Outlook and Potential Analysis

36. Appendix