Blockchain Devices Market In-Depth Analysis with Booming Trends, Supporting Growth, New Technology, Key Developments by 2025
This can be attributed to the rising adoptions of blockchain technology by the retail sector as well as the supply chain management sector, which leads further to be the major driver for the blockchain devices market.
Dallas, United States – April 29, 2021 /MarketersMedia/ —
The global blockchain devices market size is projected to reach nearly USD 2,171.84 million by 2028. Besides, it is projected to gather a CAGR of around 22.50% over the forecast years 2018-2028. Blockchain is an electronic identity platform that enables businesses, regulators, and organizations with their heritage technologies to cross the decentralized blockchain networks. Due to increased transparency, the increasing demand from different organizations for blockchain technology has been increasing.
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Blockchain solutions implementation has significantly enabled businesses to maintain an efficient track record of their transactions, thereby removing the need for a lower workforce and simplifying organizations’ data management process Blockchain enables consumers to quickly access, validate and track entire transaction records, triggering higher acceptance from different industrial sectors.
Rising digitalization has been a significant driving force in improving blockchain technology’s market development. The adoption of blockchain technology is gaining a lot of prominence across different industries with technical advances and digitalization. The use of blockchain technology helps to minimize the need for manpower, which leads to less human error, thereby serving as a protected and time-efficient instrument. Besides, blockchain technologies help to eliminate the need for intermediaries in application fields such as payments and real estate, causing faster transactions.
The global blockchain devices market’s growth will be accelerated by the growing use of blockchain technologies in supply chains and retail networks. Increased venture capital investment is expected to boost interest in blockchain devices. Rising cryptocurrency market caps and the availability of initial coin offerings would boost market growth over the projected era. Another aspect behind the blockchain devices industry is the advancement in technology, which leads to quicker transactions. Increased awareness and acceptance of cryptocurrencies in various regions and industries will provide the industry with new opportunities to develop. Another trend that will aid demand growth in the forecast timeframe is increased government initiatives for the implementation of blockchain devices.
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Blockchain technology is a cutting-edge form of data storage on the internet. Various blockchain apps are being developed, including messengers, sports, social networks, messengers, storage platforms, voting systems, prediction markets, and online stores, among others. In the Internet of Things (IoT), blockchain technology can be used as a bridge that has been built to resolve scalability, security, and privacy issues.
The technology will be used to keep track of billions of internet-connected devices and enable transfers and communications between them to be processed. Blockchain devices are those that use the blockchain platform. The increasing use of blockchain technologies by the retail and supply chain management sectors is expected to be the primary driver of the blockchain devices industry. The development of the blockchain devices industry will be hampered by unclear and non-harmonized digital currency laws around the world, as well as a lack of public knowledge about blockchain.
The growing use of cryptocurrency in a variety of industries and the high pace of adoption provide enough potential for growth, resulting in more opportunities for blockchain device providers. The need for blockchain technologies is the as companies increasingly embrace blockchain technology to boost their day-to-day operations and increase protection. This is a significant contribution to the growth of the blockchain device industry. These devices provide full security and encryption when it comes to money exchange, data, and documents.
The market for blockchain devices is fiercely competitive, with both established and emerging entrants competing for market share. In addition, blockchain device industry players are targeting future markets to gain a strategic advantage over their competitors by joining mergers and acquisitions, alliances, acquiring other businesses and emerging startups, forming collaborations and partnerships, and expanding their corporate presence.
The major players of the global blockchain devices market are Filament (US) Sikur (US), Genesis Coin Inc. (US), HTC Corporation (Taiwan), AVADO (Switzerland) SIRIN LABS (Switzerland), Lamassu Industries AG (Switzerland), Ledger SAS (France), Blockchain Luxembourg S.A. (UK), Pundi X Labs Private Limited (Singapore), RIDDLE&CODE (Austria), SatoshiLabs (Czech Republic), and GENERAL BYTES R.O. (Czech Republic). The blockchain devices market comprises well established local as well as global players. Besides, the previously recognized market players are coming up with new and advanced strategic solutions and services to stay competitive in the global market.
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Segment Overview of Global Blockchain Devices Market
Type Overview, 2018-2028 (USD Million)
Blockchain smartphones
Crypto hardware wallets
Crypto ATMs
POS terminals
Others
Connectivity Overview, 2018-2028 (USD Million)
Wired
Wireless
Application Overview, 2018-2028 (USD Million)
Personal
Corporate
End-User Overview, 2018-2028 (USD Million)
BFSI
Government
Retail
Travel and hospitality
Transportation and logistics
Others
Regional Overview, 2018-2028 (USD Million)
North America
S.
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Middle East and Africa
UAE
South Africa
Rest of Middle East and Africa
South America
Brazil
Rest of South America
Table Of Contents:
Chapter 1 Introduction
Chapter 2 Research Methodology
Chapter 3 Executive Summary
Chapter 4 Market Outlook
Chapter 5 Blockchain Devices Market by Type
Chapter 6 Blockchain Devices Market by Connectivity
Chapter 7 Blockchain Devices Market by Industry Vertical
Chapter 8 Blockchain Devices Market By Region
Chapter 9 Competitive Landscape
Chapter 10 Company Profiles
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Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
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