Press release
Global Blockchain Devices Market 2024-2033: Growth Trends and Competitive Landscape
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..
Market Overview -
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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Increasing Blockchain Investments Drive Growth In Blockchain Devices Market
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.
Competitive Landscape -
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.
Wireless Communication Integration A Key Trend In The Blockchain Devices Market
The adoption of wireless communication technology is a key trend gaining popularity in the blockchain devices market. Organizations are adopting next-generation wireless technologies believed to gain competitive advantage and enable innovation. For instance, in March 2021, Telefónica Tech, a Spain-based technology company, partnered with Fibocom Wireless Inc, a China-based provider of wireless communication modules and solutions, to launch 5G wireless networks for boosting blockchain activities. The partnership achieved accomplished the first 5G IoT Blockchain integration. The partnership will leverage Fibocom's 5G IoT Module embedded with aitos.io's BoAT blockchain application framework to access Telefonica's TrustOS Blockchain network and TrustID decentralized Identity service.
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Key Segments -
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 & E-commerce, Travel & Hospitality, Automotive, Transportation & Logistics, IT & Telecommunication, Others (Energy & Utilities, Education, Agriculture, Healthcare, Manufacturing)
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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