WESTFORD, Mass., July 4, 2024 /PRNewswire/ -- According to
SkyQuest, the global Blockchain Devices Market size was valued
at USD 621.83 Million in 2022 and is
poised to grow from USD 890.15
Million in 2023 to USD 15696.22
Million by 2031, growing at a CAGR of 43.15% in the forecast
period (2024-2031).
The growing use of Blockchain technology around the world is
projected to bolster the demand for blockchain devices as well.
Rising use of cryptocurrencies and rising integration of Blockchain
in multiple aspects of day-to-day lives are also estimated to be
key factors driving blockchain devices market development in the
future. Growing digital asset ownership on a global level is also
forecasted to create new opportunities for blockchain device
providers going forward. The global blockchain devices market is
segmented into Blockchain type, type, connectivity, application,
end user, and region.
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overview:
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Blockchain Devices Market Overview:
Report
Coverage
|
Details
|
Market Revenue in
2023
|
$ 890.15
million
|
Estimated Value by
2031
|
$ 15696.22
million
|
Growth Rate
|
Poised to grow at a
CAGR of 43.15%
|
Forecast
Period
|
2024–2031
|
Forecast
Units
|
Value (USD
Million)
|
Report
Coverage
|
Revenue Forecast,
Competitive Landscape, Growth Factors, and Trends
|
Segments
Covered
|
Type of Blockchain,
Type, Connectivity, End-user, and Application
|
Geographies
Covered
|
North America, Europe,
Asia Pacific, Middle East & Africa, Latin America
|
Report
Highlights
|
Development of novel
blockchain AI solutions that give benefits of both technologies
involved
|
Key Market
Opportunities
|
Rapid Growth in Digital
Asset Ownership
|
Key Market
Drivers
|
Increasing Adoption of
Blockchain Technology
|
Segments covered in Blockchain Devices Market are as
follows:
- Type of Blockchain
- Public Blockchain, Private Blockchain, Hybrid Blockchain
- Type
- Hardware Wallets (Crypto Hardware Wallets, Car Wallets,
Smart Cards), Blockchain Smartphones, PoS Devices, Crypto ATMs
(One-way Crypto ATMs, Two-way Crypto ATMs), Blockchain
IoT Gateways, Other Blockchain Devices
- End-User
- BFSI, Government, Retail & E-commerce, Travel &
Hospitality, Automotive, Transportation & Logistics, IT &
Telecommunication, and Others
- Application
- Personal, Corporate (Enterprise Size [Large enterprises, Small
and medium-sized enterprises])
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report:
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Public Blockchains to Remain Popular Owing to their High
Transparency and Accessibility
Most blockchain devices run on public Blockchain networks as
they are highly accessible and transparent. These types of
Blockchain networks are open to everyone and highly affordable for
blockchain devices manufacturers as well. High demand for
decentralization around the world is forecasted to create an
opportune setting for market players through this segment going
forward.
Meanwhile, the demand for blockchain devices based on private
and hybrid Blockchain networks is projected to reach new heights by
the end of the study period. Better scalability, faster transaction
times, and enhanced security are some key features of these two
Blockchain types that will push their demand and popularity in the
future. Enterprises and organizations are forecasted to opt for
devices operating on private Blockchain networks to improve their
security whilst hybrid Blockchain networks will be popular among
consumer-oriented applications.
Corporate Applications to Propel Sales of Blockchain Devices
Owing to Decentralization of Multiple Industry Verticals
The emphasis on decentralization has increased on a global level
and this trend has completely changed the way the corporate sector
is using Blockchain technology. From large enterprises to small and
medium ones, all companies are focusing on utilizing Blockchain
technology to improve the security and transparency of their
operations, which in turn, is slated to benefit blockchain device
demand outlook.
Personal use of blockchain devices is slow, which is why not
many companies target the development of them. New companies can
explore this segment if they wish to penetrate the market without
dealing with leading companies. However, getting the strategy and
product right will be highly essential for success through this
segment.
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(TOC):
https://www.skyquestt.com/report/blockchain-devices-market
Wireless Blockchain Devices to Rule Future with Advancements
in Connectivity Technologies
In an increasingly wireless world, it would not make sense to
make wired blockchain devices. This is why all blockchain device
manufacturers should focus on creating wireless blockchain devices
for the future. Advancements in wireless connectivity technologies
and growing emphasis on making the world wireless will set the tone
for lucrative revenue generation for market players through this
segment.
The global blockchain devices market is still in the initial
stages of development and provides several opportunities for
upcoming as well as established companies. Innovation and use of
creative marketing strategies will be common strategies for all
blockchain device providers going forward. Blockchain devices based
on hybrid Blockchain networks will be highly popular by the end of
the forecast period but at present most devices are operated on
public Blockchain networks.
Related Report:
Blockchain Market
Blockchain as a Service Market
Blockchain in Healthcare Market
Cryptocurrency Market
Blockchain In Manufacturing Market
About Us:
SkyQuest is an IP focused Research and Investment Bank and
Accelerator of Technology and assets. We provide access to
technologies, markets and finance across sectors viz. Life
Sciences, CleanTech, AgriTech, NanoTech and Information &
Communication Technology.
We work closely with innovators, inventors, innovation seekers,
entrepreneurs, companies and investors alike in leveraging external
sources of R&D. Moreover, we help them in optimizing the
economic potential of their intellectual assets. Our experiences
with innovation management and commercialization has expanded our
reach across North America,
Europe, ASEAN and Asia Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
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