The Asia Pacific Blockchain Devices Market would witness market growth of 38.6% CAGR during the forecast period (2022-2028).
Customers that use crypto ATMs have access to simpler trading choices and don't have to deal with long public keys or the setup of an account or online wallet. Also, a shift in the investment paradigm, mostly driven by the aging baby boomer cohort, is suggested by the rapid expansion of cryptocurrencies and the rise in the number of crypto users, fueling the demand for cryptocurrency ATMs.
The instantaneous nature of transactions made by crypto ATMs drives the market's expansion. In the case of a buy order, as soon as cash has been placed into the ATM, a purchase for the full payment amount is made. Also, due to crypto ATMs, users no longer have to wait for days to obtain cash if they want to place a sell order. Customers also benefit from simpler trading alternatives; there is no need to create an account, open an online wallet, or deal with long public keys. A QR code containing the public and private keys are included on the customer receipt; this code can be scanned and instantly recognized by common wallet apps, making it simple to complete a transaction.
Some cutting-edge technologies, such as distributed ledger technology's subset known as the blockchain, are not limited to any one industry or application. Major world powers are beginning to recognize how blockchain can perform better than cryptocurrencies and how it can potentially transform important commercial, healthcare, government, and supply chain processes. As part of its effort to become more competitive internationally, China is a significant player in testing blockchain technology and establishing legislative frameworks, regulations, and government initiatives. As a result, it is projected that the Asia Pacific area will experience an increase in the market for blockchain devices.
The China market dominated the Asia Pacific Blockchain Devices Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $248.7 million by 2028. The Japan market is exhibiting a CAGR of 37.8% during (2022 - 2028). Additionally, The India market would experience a CAGR of 39.5% during (2022 - 2028).
Based on Connectivity, the market is segmented into Wired and Wireless. Based on Component, the market is segmented into Hardware Wallets, Crypto ATMs, Blockchain Smartphones, PoS Devices, Blockchain IoT Gateways, and Others. Based on End User, the market is segmented into Consumer, Travel & Hospitality, Automotive, IT & Telecommunication, BFSI, Retail & E-commerce, Government, and Others. Based on Application, the market is segmented into Corporate and Personal. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Blockchain Devices Market is Projected to reach USD 3.8 Billion by 2028, at a CAGR of 37.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Samsung Electronics Co., Ltd. (Samsung Group), HTC Corporation, Infineon Technologies AG, Pundi X Labs Pte Ltd, Riddle & Code GmbH, Ledger SAS,GENERAL BYTES S.R.O., Satoshi LABS, Bitaccess, Inc., and AVADO AG.
By Connectivity
By Component
By End User
By Application
By Country
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