Press release
Strong Growth Ahead: Blockchain Devices Market Size To Grow At Arecord 38% Cagr By 2029
Blockchain Devices
How Big Is the Blockchain Devices Market Size Expected to Be by 2034?
The market size for blockchain devices has seen considerable expansion in the past few years. It is projected to increase from $1.22 billion in 2024 to $1.67 billion in 2025, reflecting a compound annual growth rate (CAGR) of 36.9%. Factors attributing to this significant growth during the historic period include the rise in cryptocurrency, expansion of decentralized finance (defi), secured and tamper-proof systems, improved privacy solutions, introduction of hardware-based security modules, and compliance with regulatory solutions.
The market size of blockchain devices is predicted to experience impressive growth in the coming years. By 2029, it's estimated to reach $6.05 billion, with a compound annual growth rate (CAGR) of 38.0%. This growth during the forecast period can be assigned to factors such as the proliferation of decentralized identity solutions, the emergence of tokenization, its increased acceptance in emerging markets, the rise of decentralized autonomous organizations, and cross-chain solutions. Key trends during this forecast period encompass devices that execute smart contracts, devices incorporating blockchain in healthcare, devices facilitating real-time transaction verification, devices designed for smart contract execution, as well as integration with artificial intelligence.
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What Are the Emerging Segments Within the Blockchain Devices Market?
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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What Long-Term Drivers Are Shaping Blockchain Devices Market Trends?
The surge in investments in blockchain technology is playing a significant role in the expansion of the blockchain devices market. An uptick in the acceptance and execution of tangible blockchain solutions has been seen across numerous businesses and sectors. Businesses have ramped up their spending in blockchain technology, demonstrating their commitment to it. For example, Alphabet, a technology firm based in the US, invested $1.5 Billion in several blockchain businesses in August 2022. These investments point to a broader pattern of tech firms and investors shifting their focus towards blockchain and Web 3.0 as a tool for a more decentralized information technology landscape.
Who Are the Top Competitors in Key Blockchain Devices Market Segments?
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 Blockchain Devices Market Trends Are Gaining Traction Across Different Segments?
In their quest to innovate and offer improved technological solutions, top firms active in the blockchain devices market, like the Web3 Acceleration Platform, are focusing on augmenting interoperability and scalability in their range of decentralized applications. The Web3 Acceleration Platform is a sturdy platform designed to help developers effectively build, rollout, and scale up decentralized applications (dApps) by supplying essential tools and resources for smart contract incorporation and user identification management across multiple blockchain networks. For example, in June 2023, Fujitsu, an information and communications tech company based out of Japan, unveiled the Web3 Acceleration Platform to aid in the creation of Web3 services and enhance cooperative efforts in the development of these services by providing a secure data exchange and superior computing capabilities using its groundbreaking Data e-TRUST technology. This encourages a worldwide co-creation setting where varying partners can work together on revolutionary applications while fostering digital trust and authenticity in transactions.
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Which Regions Are Becoming Hubs for Blockchain Devices Market Innovation?
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
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Blockchain Devices Market?
2. What is the CAGR expected in the Blockchain Devices Market?
3. What Are the Key Innovations Transforming the Blockchain Devices Industry?
4. Which Region Is Leading the Blockchain Devices Market?
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