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Blockchain Devices Market Overview and Key Trends | 2024 To 2033 Key Players Ledger SAS, SatoshiLabs Group, Sirin Labs AG, Pundi X Labs Pte. Ltd., Genesis Coin Inc.
Blockchain Devices Market Share
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According to The Business Research Company's, 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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Market Drivers and Trends:
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.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
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.
Blockchain Devices Market 2024 Key Insights:
• 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%.
• Increasing Blockchain Investments Drive Growth In Blockchain Devices Market
• Wireless Communication Integration A Key Trend In The Blockchain Devices Market
• North America was the largest region in the blockchain devices market in 2023
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