As per the report, in 2019, the global blockchain devices market generated a revenue of $300 million and is projected to reach $23.5 billion by 2030, advancing at a 48.7% CAGR during the forecast period (2020-2030).
The market for cryptocurrency is expanding rapidly as corporate users in the banking, financial services, & insurance (BFSI) sector and government offices are increasingly adopting cryptocurrencies.
Blockchain devices are used for both personal and corporate applications; however, the larger demand for blockchain devices is predicted to be created for corporate applications during the forecast period.
Different types of blockchain devices are point of sales terminals, blockchain smartphones, crypto automated teller machines (ATMs), and crypto hardware wallets. Some other types are blockchain gateways and pre-configured devices. Out of these, the largest demand during 2014-2019 was created for crypto hardware wallets, which are going to be the most in demand in the coming years as well, particularly because of the growing cryptocurrency market. As the number of transactions and cryptocurrency users are increasing, the requirement for securing cryptocurrency is rising as well. The users can use software-based and hardware-based wallets for keeping cryptocurrency safe. The fastest growth in demand is expected to be witnessed by crypto ATMs during the forecast period.
Several industries which make use of blockchain devices are retail, BFSI, transportation & logistics, government, travel & hospitality, and some other industries including IT & telecommunication and automotive. During 2014-2019, the BFSI sector created the largest demand for blockchain devices and the situation is projected to remain the same in the coming years as well. This is because, the blockchain technology is being utilized in the BFSI sector for different applications such as fundraising, loans and credits, payments, trade finance, and clearance and settlement systems. The fastest growth in demand for blockchain devices is predicted to be created by the retail sector during the forecast period.
The demand for blockchain solutions is increasing due to the rising adoption of the blockchain technology by companies for strengthening their day-to-day operations and increasing security. This is contributing significantly to the growth of the blockchain devices market. These devices provide the highest safety and security when it comes to exchanging money, data, and information. The BFSI sector is prone to frauds and errors related to money management systems, which is why the sector is increasingly making use of blockchain devices
Key Topics Covered
Chapter 1. Research Background 1.1 Research Objectives 1.2 Market Definition 1.3 Research Scope 1.3.1 Market Segmentation by Type 1.3.2 Market Segmentation by Connectivity 1.3.3 Market Segmentation by Application 1.3.4 Market Segmentation by End User 1.3.5 Market Segmentation by Region 1.3.6 Analysis Period 1.3.7 Market Data Reporting Unit 18.104.22.168 Value 22.214.171.124 Volume 1.4 Key Stakeholders
Chapter 2. Research Methodology 2.1 Secondary Research 2.2 Primary Research 2.2.1 Breakdown of Primary Research Respondents 126.96.36.199 By region 188.8.131.52 By industry participant 184.108.40.206 By company type 2.3 Market Size Estimation 2.4 Data Triangulation 2.5 Assumptions for the Study
Chapter 3. Executive Summary
Chapter 4. Introduction 4.1 Definition of Market Segments 4.1.1 By Type 220.127.116.11 Blockchain smartphones 18.104.22.168 Crypto hardware wallets 22.214.171.124 Crypto ATMs 126.96.36.199 POS terminals 188.8.131.52 Others 4.1.2 By Connectivity 184.108.40.206 Wired 220.127.116.11 Wireless 4.1.3 By Application 18.104.22.168 Personal 22.214.171.124 Corporate 4.1.4 By End User 126.96.36.199 BFSI 188.8.131.52 Government 184.108.40.206 Retail 220.127.116.11 Travel and hospitality 18.104.22.168 Transportation and logistics 22.214.171.124 Others 4.2 Value Chain Analysis 4.3 Market Dynamics 4.3.1 Trends 126.96.36.199 Wireless Blockchain Devices 188.8.131.52 Decreasing Cost of Blockchain Smartphones 4.3.2 Drivers 184.108.40.206 Growing Demand for Blockchain Solutions 220.127.116.11 Growing Market for Cryptocurrency 18.104.22.168 Impact Analysis of Drivers on Market Forecast 4.3.3 Restraints 22.214.171.124 Uncertain Government Regulations 126.96.36.199 Impact Analysis of Restraints on Market Forecast 4.3.4 Opportunities 188.8.131.52 Use of Blockchain Technology in Supply Chain 184.108.40.206 Increasing Usage of Cryptocurrency as a Mode of Payment 4.4 Porter's Five Forces Analysis
Chapter 5. Global Market Size and Forecast 5.1 By Type 5.2 By Connectivity 5.3 By Application 5.4 By Industry 5.5 By Region
Chapter 6. North America Market Size and Forecast
Chapter 7. Europe Market Size and Forecast
Chapter 8. APAC Market Size and Forecast
Chapter 9. RoW Market Size and Forecast
Chapter 10. Competitive Landscape 10.1 List of Players and Their Offerings 10.2 Analysis of Key Players in the Market 10.3 Competitive Benchmarking of Key Players 10.4 Recent Activity of Key Players 10.5 Strategic Developments of Key Players 10.5.1 Product Launches 10.5.2 Geographic Expansions 10.5.3 Partnerships 10.5.4 Other Developments
Chapter 11. Company Profiles 11.1 Ledger SAS 11.1.1 Business Overview 11.1.2 Product and Service Offerings 11.2 SatoshiLabs s.r.o. 11.3 Sirin Labs AG 11.4 Pundi X Labs Private Limited 11.5 HTC Corporation 11.6 Samsung Electronics Co. Ltd. 11.7 Lamassu Industries AG 11.8 Blockchain Luxembourg S.A. 11.9 RIDDLE&CODE GmbH 11.10 GENERAL BYTES s.r.o.