DUBLIN, April 8, 2020 /PRNewswire/ — The “Blockchain Devices Market Research Report: By Type, Connectivity, Application, End User – Industry Trends Analysis and Growth Forecast to 2030” report has been added to ResearchAndMarkets.com‘s offering.
As per the report, in 2019, the global blockchain devices market generated a revenue of $300 million and is projected to reach $23.5 billion by 2030, advancing at a 48.7% CAGR during the forecast period (2020-2030).
The market for cryptocurrency is expanding rapidly as corporate users in the banking, financial services, & insurance (BFSI) sector and government offices are increasingly adopting cryptocurrencies.
Blockchain devices are used for both personal and corporate applications; however, the larger demand for blockchain devices is predicted to be created for corporate applications during the forecast period.
Different types of blockchain devices are point of sales terminals, blockchain smartphones, crypto automated teller machines (ATMs), and crypto hardware wallets. Some other types are blockchain gateways and pre-configured devices. Out of these, the largest demand during 2014-2019 was created for crypto hardware wallets, which are going to be the most in demand in the coming years as well, particularly because of the growing cryptocurrency market. As the number of transactions and cryptocurrency users are increasing, the requirement for securing cryptocurrency is rising as well. The users can use software-based and hardware-based wallets for keeping cryptocurrency safe. The fastest growth in demand is expected to be witnessed by crypto ATMs during the forecast period.
Several industries which make use of blockchain devices are retail, BFSI, transportation & logistics, government, travel & hospitality, and some other industries including IT & telecommunication and automotive. During 2014-2019, the BFSI sector created the largest demand for blockchain devices and the situation is projected to remain the same in the…