The global blockchain devices market size is expected to witness a significant CAGR of over 38% during the forecast period and expected to reach around USD 4 billion by 2027. The increasing adoption of the technology in the financial sector and the advent of Bitcoin are some of the major factors to drive the market growth. Furthermore, the fast development of the technology in retail and supply chain applications and increasing investment in cryptocurrency across the globe is further anticipated to boost the market growth over the forecast period. Moreover, the rising adoption of the technology by the government of various developed economies such as the US, UK, Italy, Spain, and others is expected to fuel the market growth.
Market Drivers:
Increasing Adoption of Blockchain Technology: The wider adoption of blockchain technology across various industries is a significant driver for the blockchain devices market. Blockchain offers transparent and secure transactions, data integrity, and decentralized control, making it an appealing solution for industries such as finance, supply chain, healthcare, and IoT. The need for specialized devices to interact with blockchain networks and execute blockchain-based operations is driving the demand for blockchain devices.
Growing Demand for Hardware Security: Blockchain devices often incorporate specialized hardware security features, such as secure elements, encryption, and tamper-resistant chips. These features ensure the integrity and confidentiality of blockchain transactions and data. As the importance of secure and trustworthy transactions increases, there is a rising demand for dedicated blockchain devices that offer enhanced hardware security.
Expansion of Decentralized Applications (DApps): Decentralized applications, or DApps, built on blockchain platforms, are gaining popularity. DApps provide innovative solutions and services in various domains, including finance, gaming, identity management, and supply chain. To interact with these DApps seamlessly and securely, users require dedicated blockchain devices that provide the necessary computational power, connectivity, and secure environment.
Rise of Internet of Things (IoT): The proliferation of IoT devices and the need for secure and transparent data exchanges within IoT networks are driving the demand for blockchain devices. By integrating blockchain technology into IoT devices, data integrity, privacy, and security can be ensured, allowing for trusted interactions and transactions. Blockchain devices that cater specifically to the needs of IoT applications are witnessing increased adoption.
Data Privacy and Ownership Concerns: With growing concerns around data privacy and ownership, blockchain technology offers a solution by providing transparent and auditable records. Blockchain devices equipped with privacy features enable users to have greater control over their personal data and empower them to transact securely without compromising their privacy. The demand for blockchain devices that prioritize data privacy and ownership is expected to rise.
Government Initiatives and Regulations: Governments and regulatory bodies around the world are recognizing the potential benefits of blockchain technology and implementing supportive policies and regulations. These initiatives encourage the adoption of blockchain technology in various sectors, which, in turn, drives the demand for blockchain devices that can facilitate compliant operations and transactions.
Technological Advancements and Innovation: The continuous advancements and innovations in blockchain technology and associated devices are contributing to the growth of the blockchain devices market. Manufacturers are developing specialized hardware devices optimized for blockchain operations, such as hardware wallets, mining devices, and blockchain-enabled smartphones. These devices offer improved performance, user experience, and functionality, attracting more users and driving market growth.
Market Snapshot:
| Benchmark Year | 2022 | ||
| Market Size | ~ USD 4 Billion by 2027 | ||
| Market Growth (CAGR) | > 38% (2023-2030) | ||
| Largest Market Share | lock | ||
| Analysis Period | 2020-2030 | ||
| Market Players | Avado, Coinsource, Bitaccess, Helium Systems, and General Bytes |
Market Insights:
The global blockchain devices market is bifurcated into hardware, connectivity, application, end-use, and geography. On the basis of component, the market is further segmented into hardware wallets, smartphones, crypto ATMs, IoT gateways, and other devices. The crypto ATMs segment is expected to register the highest growth rate over the forecast period. The increasing investment in cryptocurrency and the initial coin offering are some of the significant factors to drive the segment growth. Furthermore, the continuous development in ATM software for advancement and the support for multiple cryptocurrencies are further expected to fuel the segment growth over the forecast period.
On the basis of end-use, the market is segmented into BFSI, government, consumer, retail & e-commerce, automotive, and others. The consumer segment is accounted to contribute the largest revenue share of the global blockchain devices market in the previous year and is estimated to maintain its dominance over the forecast period. The growing adoption of cryptocurrencies and their use as payment methods by various businesses is one of the major factors driving the growth of the segment. According to the latest information shared by the TripleA, more than 18,000 businesses are already accepting cryptocurrency payments by 2021
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The blockchain devices comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.
The blockchain devices market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.
Historical & Forecast Period
- 2018-19 – Historical Year
- 2020 – Base Year
- 2021-2027 – Forecast Period
Market Segmentation:
By Component:
- Hardware Wallets
- Smartphones
- Crypto ATMs
- IoT Gateways
- Other Devices
By Conectivity:
- Wired Devices
- Wireless Devices
By Application:
- Personal
- Corporate
By End-Use:
- BFSI
- Government
- Consumer
- Retail & E-commerce
- Automotive
- Travel & Hospitality
- Transportation & Logistics
- IT & Telecommunication
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Geographic Coverage
Geographically, the blockchain devices market report comprises dedicated sections centering on the regional market revenue and trends. The blockchain devices market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The blockchain devices market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Blockchain devices market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.
Competitive Assessment
Some of the major market players operating in the global blockchain devices market are Avado, Coinsource, Bitaccess, Helium Systems, and General Bytes. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.
Key Companies:
- Avado
- Coinsource
- Bitaccess
- Helium Systems
- General Bytes
- HTC
- Ledger
- Lamassu Industries
- Pundi X
- Modum
Key Questions Answered by Blockchain Devices Market Report
- Global blockchain devices market forecasts from 2021-2027
- Regional blockchain devices market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
- Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
- Blockchain devices submarket forecasts from 2021-2027 covering the market by component, by connectivity, by application, by end-use, and geography
- Various industry models such as SWOT analysis, Value Chain Analysis about blockchain devices market
- Analysis of the key factors driving and restraining the growth of the global, regional, and country-level blockchain devices markets from 2021-2027
- Competitive Landscape and market positioning of top 10 players operating in the blockchain devices market
1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.4. Assumptions
2. Executive Summary
2.1. Global Blockchain Devices Market Portraiture
2.2. Global Blockchain Devices Market, by Component, 2020 (USD Mn)
2.3. Global Blockchain Devices Market, by Connectivity, 2020 (USD Mn)
2.4. Global Blockchain Devices Market, by Application, 2020 (USD Mn)
2.5. Global Blockchain Devices Market, by End-Use, 2020 (USD Mn)
2.6. Global Blockchain Devices Market, by Geography, 2020 (USD Mn)
3. Global Blockchain Devices Market Analysis
3.1. Blockchain Devices Market Overview
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Drivers
3.3.2. Challenges
3.3.3. Opportunities
3.4. Attractive Investment Proposition
3.5. Competitive Analysis
3.6. Porter’s Five Force Analysis
3.6.1. Bargaining Power of Suppliers
3.6.2. Bargaining Power of Buyers
3.6.3. Threat of New Entrants
3.6.4. Threat of Substitutes
3.6.5. Degree of Competition
3.7. COVID-19 Impact Analysis
4. Global Blockchain Devices Market By Component, 2018 – 2027 (USD Mn)
4.1. Overview
4.2. Hardware Wallets
4.3. Smartphones
4.4. Crypto ATMs
4.5. IoT Gateways
4.6. Others
5. Global Blockchain Devices Market By Connectivity, 2018 – 2027 (USD Mn)
5.1. Overview
5.2. Wired Devices
5.3. Wireless Devices
6. Global Blockchain Devices Market By Application, 2018 – 2027 (USD Mn)
6.1. Overview
6.2. Personal
6.3. Corporate
7. Global Blockchain Devices Market By End-Use, 2018 – 2027 (USD Mn)
7.1. Overview
7.2. BFSI
7.3. Government
7.4. Consumer
7.5. Retail & E-commerce
7.6. Automotive
7.7. Travel & Hospitality
7.8. Transportation & Logistics
7.9. IT & Telecommunication
7.10. Others
8. North America Blockchain Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
8.1.1. Overview
8.1.2. North America Blockchain Devices Market by Component (2018-2027 USD Mn)
8.1.3. North America Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
8.1.4. North America Blockchain Devices Market by Application (2018-2027 USD Mn)
8.1.5. North America Blockchain Devices Market by End-Use (2018-2027 USD Mn)
8.1.6. North America Blockchain Devices Market by Country (2018-2027 USD Mn)
8.1.6.1. U.S.
8.1.6.1.1. U.S. Blockchain Devices Market by Component (2018-2027 USD Mn)
8.1.6.1.2. U.S. Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
8.1.6.1.3. U.S. Blockchain Devices Market by Application (2018-2027 USD Mn)
8.1.6.1.4. U.S. Blockchain Devices Market by End-Use (2018-2027 USD Mn)
8.1.6.2. Canada
8.1.6.2.1. Canada Blockchain Devices Market by Component (2018-2027 USD Mn)
8.1.6.2.2. Canada Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
8.1.6.2.3. Canada Blockchain Devices Market by Application (2018-2027 USD Mn)
8.1.6.2.4. Canada Blockchain Devices Market by End-Use (2018-2027 USD Mn)
9. Europe Blockchain Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
9.1.1. Overview
9.1.2. Europe Blockchain Devices Market by Component (2018-2027 USD Mn)
9.1.3. Europe Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
9.1.4. Europe Blockchain Devices Market by Application (2018-2027 USD Mn)
9.1.5. Europe Blockchain Devices Market by End-Use (2018-2027 USD Mn)
9.1.6. Europe Blockchain Devices Market by Country (2018-2027 USD Mn)
9.1.6.1. Germany
9.1.6.1.1. Germany Blockchain Devices Market by Component (2018-2027 USD Mn)
9.1.6.1.2. Germany Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
9.1.6.1.3. Germany Blockchain Devices Market by Application (2018-2027 USD Mn)
9.1.6.1.4. Germany Blockchain Devices Market by End-Use (2018-2027 USD Mn)
9.1.6.2. U.K.
9.1.6.2.1. U.K. Blockchain Devices Market by Component (2018-2027 USD Mn)
9.1.6.2.2. U.K. Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
9.1.6.2.3. U.K. Blockchain Devices Market by Application (2018-2027 USD Mn)
9.1.6.2.4. U.K. Blockchain Devices Market by End-Use (2018-2027 USD Mn)
9.1.6.3. France
9.1.6.3.1. France Blockchain Devices Market by Component (2018-2027 USD Mn)
9.1.6.3.2. France Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
9.1.6.3.3. France Blockchain Devices Market by Application (2018-2027 USD Mn)
9.1.6.3.4. France Blockchain Devices Market by End-Use (2018-2027 USD Mn)
9.1.6.4. Italy
9.1.6.4.1. Italy Blockchain Devices Market by Component (2018-2027 USD Mn)
9.1.6.4.2. Italy Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
9.1.6.4.3. Italy Blockchain Devices Market by Application (2018-2027 USD Mn)
9.1.6.4.4. Italy Blockchain Devices Market by End-Use (2018-2027 USD Mn)
9.1.6.5. Rest of Europe
9.1.6.5.1. Rest of Europe Blockchain Devices Market by Component (2018-2027 USD Mn)
9.1.6.5.2. Rest of Europe Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
9.1.6.5.3. Rest of Europe Blockchain Devices Market by Application (2018-2027 USD Mn)
9.1.6.5.4. Rest of Europe Blockchain Devices Market by End-Use (2018-2027 USD Mn)
10. Asia Pacific Blockchain Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
10.1.1. Overview
10.1.2. Asia Pacific Blockchain Devices Market by Component (2018-2027 USD Mn)
10.1.3. Asia Pacific Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
10.1.4. Asia Pacific Blockchain Devices Market by Application (2018-2027 USD Mn)
10.1.5. Asia Pacific Blockchain Devices Market by End-Use (2018-2027 USD Mn)
10.1.6. Asia Pacific Blockchain Devices Market by Country (2018-2027 USD Mn)
10.1.6.1. China
10.1.6.1.1. China Blockchain Devices Market by Component (2018-2027 USD Mn)
10.1.6.1.2. China Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
10.1.6.1.3. China Blockchain Devices Market by Application (2018-2027 USD Mn)
10.1.6.1.4. China Blockchain Devices Market by End-Use (2018-2027 USD Mn)
10.1.6.2. Japan
10.1.6.2.1. Japan Blockchain Devices Market by Component (2018-2027 USD Mn)
10.1.6.2.2. Japan Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
10.1.6.2.3. Japan Blockchain Devices Market by Application (2018-2027 USD Mn)
10.1.6.2.4. Japan Blockchain Devices Market by End-Use (2018-2027 USD Mn)
10.1.6.3. Rest of Asia Pacific
10.1.6.3.1. Rest of Asia Pacific Blockchain Devices Market by Component (2018-2027 USD Mn)
10.1.6.3.2. Rest of Asia Pacific Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
10.1.6.3.3. Rest of Asia Pacific Blockchain Devices Market by Application (2018-2027 USD Mn)
10.1.6.3.4. Rest of Asia Pacific Blockchain Devices Market by End-Use (2018-2027 USD Mn)
11. Latin America (LATAM) Blockchain Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
11.1.1. Overview
11.1.2. Latin America Blockchain Devices Market by Component (2018-2027 USD Mn)
11.1.3. Latin America Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
11.1.4. Latin America Blockchain Devices Market by Application (2018-2027 USD Mn)
11.1.5. Latin America Blockchain Devices Market by End-Use (2018-2027 USD Mn)
11.1.6. Latin America Blockchain Devices Market by Country (2018-2027 USD Mn)
11.1.6.1. Brazil
11.1.6.1.1. Brazil Blockchain Devices Market by Component (2018-2027 USD Mn)
11.1.6.1.2. Brazil Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
11.1.6.1.3. Brazil Blockchain Devices Market by Application (2018-2027 USD Mn)
11.1.6.1.4. Brazil Blockchain Devices Market by End-Use (2018-2027 USD Mn)
11.1.6.2. Mexico
11.1.6.2.1. Mexico Blockchain Devices Market by Component (2018-2027 USD Mn)
11.1.6.2.2. Mexico Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
11.1.6.2.3. Mexico Blockchain Devices Market by Application (2018-2027 USD Mn)
11.1.6.2.4. Mexico Blockchain Devices Market by End-Use (2018-2027 USD Mn)
11.1.6.3. Rest of Latin America
11.1.6.3.1. Rest of Latin America Blockchain Devices Market by Component (2018-2027 USD Mn)
11.1.6.3.2. Rest of Latin America Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
11.1.6.3.3. Rest of Latin America Blockchain Devices Market by Application (2018-2027 USD Mn)
11.1.6.3.4. Rest of Latin America Blockchain Devices Market by End-Use (2018-2027 USD Mn)
12. Middle East and Africa Blockchain Devices Market Analysis and Forecast, 2018 – 2027 (USD Mn)
12.1.1. Overview
12.1.2. MEA Blockchain Devices Market by Component (2018-2027 USD Mn)
12.1.3. MEA Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
12.1.4. MEA Blockchain Devices Market by Application (2018-2027 USD Mn)
12.1.5. MEA Blockchain Devices Market by End-Use (2018-2027 USD Mn)
12.1.6. Middle East and Africa Blockchain Devices Market, by Country (2018-2027 USD Mn)
12.1.6.1. GCC
12.1.6.1.1. GCC Blockchain Devices Market by Component (2018-2027 USD Mn)
12.1.6.1.2. GCC Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
12.1.6.1.3. GCC Blockchain Devices Market by Application (2018-2027 USD Mn)
12.1.6.1.4. GCC Blockchain Devices Market by End-Use (2018-2027 USD Mn)
12.1.6.2. South Africa
12.1.6.2.1. South Africa Blockchain Devices Market by Component (2018-2027 USD Mn)
12.1.6.2.2. South Africa Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
12.1.6.2.3. South Africa Blockchain Devices Market by Application (2018-2027 USD Mn)
12.1.6.2.4. South Africa Blockchain Devices Market by End-Use (2018-2027 USD Mn)
12.1.6.3. Rest of MEA
12.1.6.3.1. Rest of MEA Blockchain Devices Market by Component (2018-2027 USD Mn)
12.1.6.3.2. Rest of MEA Blockchain Devices Market by Connectivity (2018-2027 USD Mn)
12.1.6.3.3. Rest of MEA Blockchain Devices Market by Application (2018-2027 USD Mn)
12.1.6.3.4. Rest of MEA Blockchain Devices Market by End-Use (2018-2027 USD Mn)
13. Company Profiles
13.1. Avado
13.1.1. Business Description
13.1.2. Financial Health and Budget Allocation
13.1.3. Product Positions/Portfolio
13.1.4. Recent Development
13.1.5. SWOT Analysis
13.2. Coinsource
13.2.1. Business Description
13.2.2. Financial Health and Budget Allocation
13.2.3. Product Positions/Portfolio
13.2.4. Recent Development
13.2.5. SWOT Analysis
13.3. Bitaccess
13.3.1. Business Description
13.3.2. Financial Health and Budget Allocation
13.3.3. Product Positions/Portfolio
13.3.4. Recent Development
13.3.5. SWOT Analysis
13.4. Helium Systems
13.4.1. Business Description
13.4.2. Financial Health and Budget Allocation
13.4.3. Product Positions/Portfolio
13.4.4. Recent Development
13.4.5. SWOT Analysis
13.5. General Bytes
13.5.1. Business Description
13.5.2. Financial Health and Budget Allocation
13.5.3. Product Positions/Portfolio
13.5.4. Recent Development
13.5.5. SWOT Analysis
13.6. HTC
13.6.1. Business Description
13.6.2. Financial Health and Budget Allocation
13.6.3. Product Positions/Portfolio
13.6.4. Recent Development
13.6.5. SWOT Analysis
13.7. Ledger
13.7.1. Business Description
13.7.2. Financial Health and Budget Allocation
13.7.3. Product Positions/Portfolio
13.7.4. Recent Development
13.7.5. SWOT Analysis
13.8. Lamassu Industries
13.8.1. Business Description
13.8.2. Financial Health and Budget Allocation
13.8.3. Product Positions/Portfolio
13.8.4. Recent Development
13.8.5. SWOT Analysis
13.9. Pundi X
13.9.1. Business Description
13.9.2. Financial Health and Budget Allocation
13.9.3. Product Positions/Portfolio
13.9.4. Recent Development
13.9.5. SWOT Analysis
13.10. Modum
13.10.1. Business Description
13.10.2. Financial Health and Budget Allocation
13.10.3. Product Positions/Portfolio
13.10.4. Recent Development
13.10.5. SWOT Analysis
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