Dublin, March 06, 2023 (GLOBE NEWSWIRE) -- The "Blockchain Devices Global Market Opportunities and Strategies to 2031" report has been added to ResearchAndMarkets.com's offering.
The global blockchain devices market grew from $94.2 million in 2016 to $466.4 million in 2021 at a compound annual growth rate (CAGR) of 37.3%. The market is expected to grow from $466.4 million in 2021 to $2,359.2 million in 2026 at a CAGR of 38.3%, and to $11,099.6 million in 2031 at a CAGR of 36.3%.
Growth in the historic period resulted from the emerging markets growth, increased adoption of blockchain in the retail industry and increased government initiatives on blockchain.
Going forward, the increasing venture capital funding in blockchain and increasing adoption of blockchain technology in the banking sector will drive the market growth. Factors that could hinder the growth of the blockchain devices market in the future include a lack of skilled blockchain professionals and data localization challenges.
The blockchain devices market is segmented by type into blockchain smartphones, crypto hardware wallets, crypto software wallets, crypto automated teller machines (ATMs) and point of sale (POS) terminals. The crypto hardware wallets market was the largest segment of the blockchain devices market segmented by type, accounting for 52.9% of the total in 2021. Going forward, the crypto automated teller machines (ATMs) market is expected to be the fastest growing segment in the blockchain devices market segmented by type, at a CAGR of 58.0% during 2021-2026.
The blockchain devices market is also segmented by connectivity into wired and wireless. The wireless market was the largest segment of the blockchain devices market segmented by connectivity, accounting for 55.2% of the total in 2021. Going forward, the wired market is expected to be the fastest growing segment in the blockchain devices market segmented by connectivity, at a CAGR of 41.7% during 2021-2026.
The blockchain devices market is also segmented by application into personal and corporate. The personal market was the largest segment of the blockchain devices market segmented by application, accounting for 53.6% of the total in 2021. Going forward, the corporate market is expected to be the fastest growing segment in the blockchain devices market segmented by application, at a CAGR of 41.2% during 2021-2026.
The blockchain devices market is also segmented by end-user into consumer, BFSI (banking, financial services and insurance), government, retail & e-commerce, travel & hospitality, automotive, transportation & logistics, IT & telecommunication and other end-users. The BFSI market was the largest segment of the blockchain devices market segmented by end-user, accounting for 38.0% of the total in 2021. Going forward, the travel & hospitality market is expected to be the fastest growing segment in the blockchain devices market segmented by end-user, at a CAGR of 49.1% during 2021-2026.
North America was the largest region in the blockchain devices market, accounting for 47.5% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the blockchain devices market will be South America and the Middle East, where growth will be at CAGRs of 45.0% and 44.8% respectively. These will be followed by North America and Western Europe, where the markets are expected to grow at CAGRs of 42.2% and 41.6% respectively.
The global blockchain devices market is fragmented, with a large number of players. The top ten competitors in the market made up to 25.32% of the total market in 2021. HTC Corporation was the largest competitor with 7.08% share of the market, followed by Sirin Labs AG with 6.30%, Ledger SAS with 3.55%, ELLIPAL with 1.93%, CoolBitX Ltd with 1.54%, Coinsource with 1.29%, Riddle&Code with 1.07%, Tangem with 1.07%, Pundi X Labs Private Limited with 0.90% and Bitaccess with 0.58%.
The top growth potential in the blockchain devices market by type will arise in the Crypto Automated Teller Machines (ATMs) segment, which will gain $1,046.6 million of global annual sales by 2026. The top growth potential in the blockchain devices market by connectivity will arise in the wired segment, which will gain $985.8 million of global annual sales by 2026.
The top growth potential in the blockchain devices market by application will arise in the corporate segment, which will gain $997.4 million of global annual sales by 2026. The top growth potential in the blockchain devices market by end-user will arise in the BFSI segment, which will gain $764.8 million of global annual sales by 2026. The blockchain devices market size will gain the most in the USA at $837.9 million.
Market-trend-based strategies for the blockchain devices market include focus on wireless blockchain devices, focus on advanced blockchain smartphones, focus on Bitcoin ATMs and focus on strategic partnerships.
Player-adopted strategies in the blockchain devices market include focus on strengthening business operations through technological advancements, focus on expanding product portfolio through the launch of new products, focus on offering portable and secure hardware and focus on strategic collaborations and partnerships.
Key Metrics
| Report Attribute | Details |
| No. of Pages | 328 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $466.4 Million |
| Forecasted Market Value (USD) by 2031 | $11099.6 Million |
| Compound Annual Growth Rate | 37.3% |
| Regions Covered | Global |
Competitive Landscape
Company Profiles
- HTC Corporation
- Sirin Labs AG
- Ledger SAS
- ELLIPAL
- CoolBitX Ltd
Key Mergers And Acquisitions
- Airtel Acquired Aqilliz
- Midpoint Holdings Ltd Acquired Blockchain World Ltd
- Mastercard Acquired CipherTrace
- PayPal Acquired Crypto Security Startup Curv
- Best Crypto Exchange Acquired brand Long Blockchain
- ConsenSys Acquired Treum
- ON-X Group Acquired Chain Accelerator
- ShapeShift Acquired Portis Wallet
Key Topics Covered:
1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
6. Introduction and Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Blockchain Devices Market Definition and Segmentations
6.4. Market Segmentation By Type
6.4.1. Blockchain Smartphones
6.4.2. Crypto Hardware Wallets
6.4.3. Crypto Software Wallets
6.4.4. Crypto Automated Teller Machines (ATMs)
6.4.5. Point Of Sale (POS) Terminals
6.5. Market Segmentation By Connectivity
6.5.1. Wired
6.5.2. Wireless
6.6. Market Segmentation By Application
6.6.1. Personal
6.6.2. Corporate
6.7. Market Segmentation By End-User
6.7.1. Consumer
6.7.2. BFSI (Banking, Financial Services And Insurance)
6.7.3. Government
6.7.4. Retail & E-Commerce
6.7.5. Travel & Hospitality
6.7.6. Automotive
6.7.7. Transportation & Logistics
6.7.8. IT & Telecommunication
6.7.9. Other End-Users
7. Major Market Trends
7.1. Shift Towards Wireless Blockchain Devices
7.2. Advanced Blockchain Smartphones
7.3. Increased Focus On Bitcoin ATMs (Automated Teller Machines)
7.4. Strategic Partnerships
8. Global Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, 2016 - 2021, Value ($ Million)
8.3. Market Drivers 2016 - 2021
8.3.1. Emerging Markets Growth
8.3.2. Growth In Cyber Crime Risks
8.3.3. Increased Adoption Of Blockchain In The Retail Industry
8.3.4. Blockchain Scalability Issues
8.3.5. Increased Government Initiatives
8.4. Market Restraints 2016 - 2021
8.5. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Million)
8.6. Market Drivers 2021 - 2026
8.7. Market Restraints 2021 - 2026
9. Global Market Segmentation
9.1. Global Blockchain Devices Market, Segmentation By Type, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.2. Global Blockchain Devices Market, Segmentation By Connectivity, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.3. Global Blockchain Devices Market, Segmentation By Application, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
9.4. Global Blockchain Devices Market, Segmentation By End User, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Million)
For more information about this report visit https://www.researchandmarkets.com/r/raarlg
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