Published Date: 28-Feb-2023
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According to a new report, published by KBV research, The Global Blockchain Devices Market size is expected to reach $3.8 billion by 2028, rising at a market growth of 37.5% CAGR during the forecast period.
The Wired market acquired the maximum revenue share in the Global Blockchain Devices Market by Connectivity in 2021, thereby, achieving a market value of $2.95 billion by 2028. The initial generation of blockchain technology is still in its infancy, and most of the devices are wired. A key driver for the wired segment is the expanding market for cryptocurrency ATMs. Furthermore, wired devices include preconfigured ones like blockchain computers. By connecting the hardware wallet to a personal computer, users of wired hardware wallets can conduct safe digital transactions on the blockchain.
The Crypto ATMs market is showcasing a CAGR of 37.9% during (2022 - 2028). The predicted expansion of the crypto ATMs category throughout the projection period is also significantly influenced by increased market capitalization of cryptocurrencies and initial coin offerings (ICO). Companies started implementing cryptocurrency ATMs in retail locations after seeing the potential of blockchain technology in delivering improved consumer experiences.
The Consumer market is generating the highest revenue share in the Global Blockchain Devices Market by End User in 2021, thereby, achieving a market value of $923.4 million by 2028. The segment is expanding due to businesses accepting cryptocurrency as a form of payment and cryptocurrencies' rising level of consumer adoption. The expanding demand for better inventory optimization drives growth in the consumer products sector.
The Personal market is poised to grow at a CAGR of 41.2% during (2022 - 2028). More transparency for clients and insurance companies can be achieved by using smart contracts on a blockchain. For example, customers wouldn't submit further claims for the same incident if all claims were recorded on a blockchain. The process for claimants to receive payments can also be accelerated by using smart contracts. The market is growing in this segment because of these advantages.
The North America market dominated the Global Blockchain Devices Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.7 billion by 2028. The Europe market is anticipated to grow at a CAGR of 37.8% during (2022 - 2028). Additionally, The Asia Pacific market would witness a CAGR of 38.6% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/blockchain-devices-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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.
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Unique Offerings from KBV Research
North America Blockchain Devices Market size & Opportunities 2022-2028
Europe Blockchain Devices Market & Growth Forecast 2022-2028
Asia Pacific Blockchain Devices Market Share & Industry Outlook to 2028
LAMEA Blockchain Devices Market Growth, Trends & Forecasts 2022-2028