The Latin America, Middle East and Africa Blockchain Devices Market would witness market growth of 42.3% CAGR during the forecast period (2022-2028).
The market has a lucrative growth potential as a result of a number of driving factors, such as the increasing visibility of blockchain technology's advantages in the financial sector, the technology's quick development in applications for retail and supply chain management. Also, the growth of cryptocurrencies, capitalization, and initial coin offerings (ICO), and a number of other characteristics related to blockchain technology are supporting the overall market growth.
To accelerate the expansion of cryptocurrency exchanges, most nations are investing in businesses for crypto ATMs. As a result, these firms are receiving millions in venture capital funding, demonstrating that the market for crypto ATMs will expand rapidly over the next few years. Also, because cryptocurrency ATMs are an excellent way to make money and offer a higher return on investment, investors are interested in investing in these firms.
BFSI digitalization trends have been closely and quickly followed in the UAE. When it comes to cutting-edge banking trends and technology, the United Arab Emirates and the Middle East area as a whole are developing and flourishing markets. The Middle East has a lot of unrealized potentials and is in a great position to take the lead in driving developments in digital banking. The necessity for digital services to suit their needs is becoming increasingly apparent in Middle Eastern countries. They are loosening current laws and regulations to adapt to the shifting market trends. The rules must be modified to reflect the new standard of cashless transactions. This would contribute to the market for blockchain devices growing even further.
The Brazil market dominated the LAMEA Blockchain Devices Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $62.9 million by 2028. The Argentina market is experiencing a CAGR of 43.1% during (2022 - 2028). Additionally, The UAE market would exhibit a CAGR of 41.9% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Blockchain Devices Market is Predict to reach $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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