Blockchain Devices Market

Blockchain Devices Market by Type (Blockchain Smartphones, Crypto Hardware Wallets, Crypto ATMs, POS Devices, & Others), Connectivity (Wired & Wireless), Application (Personal & Corporate), and Geography - Global Forecast to 2024

Report Code: SE 7335 Sep, 2019, by marketsandmarkets.com

The blockchain devices market is projected to grow from USD 218 million in 2019 to USD 1,285 million by 2024, at a CAGR of 42.5% from 2019 to 2024. Some of the major growth drivers for this market include increasing adoption of blockchain technology in retail & supply chain management, rising venture capital funding, and growing market cap for cryptocurrency and Initial Coin Offering (ICO). One of the key opportunities for the market is the increasing acceptance of cryptocurrency across various industries and regions. Whereas, major factors restraining the market growth include uncertain regulations & compliances and lack of awareness.

Blockchain Devices Market

Wireless connectivity for blockchain devices to grow at higher CAGR during the forecast period

Blockchain smartphones, PoS devices, etc. use wireless connectivity for data transfer. They use Wi-Fi, Bluetooth, and near-field communication (NFC) technologies. Based on type, the wireless connectivity segment of the blockchain devices market has been segmented into blockchain smartphones, crypto hardware wallets, and PoS devices. Major companies such as Ledger (France), and Pundi X (Singapore) are majorly focusing on blockchain devices that are implemented with wireless connectivity.

Other devices for Blockchain devices to grow at higher CAGR during the forecast period

Of all the types of devices, other devices such as blockchain gateways & pre-configured devices expected to grow at the highest CAGR during the forecast period. Blockchain is a universal purpose digital identity gateway, which enables corporations, governments, and institutions to bridge their legacy systems with the decentralized blockchain networks. The pre-configured devices equipped with an operating system allow access to the blockchain network from a normal network. They are used to provide Web3 access and personal home servers to blockchain networks. This device majorly adopted in industries such as banking, financial service, and insurance (BFSI), government, retail & e-commerce, travel & hospitality, automotive, transportation & logistics, IT & telecommunication, etc.

Blockchain Devices Market

North America to account for the largest market size during the forecast period

North America is among the major contributors to the blockchain devices market, and the US accounted for the largest share of the market in North America in 2018. North America dominates the global market as the region is an early adopter of blockchain devices. North America is an early adopter of innovative technologies as banks, government agencies, and financial institutes in this region face ever-increasing challenges related to security & transparency of the data and the transactions. Therefore, advanced technologies are implemented to manage this information via blockchain devices. Moreover, several blockchain devices vendors are based in this region, thereby contributing to the growth of the market in North America.

Key Market Players

Ledger SAS (France), HTC Corporation (Taiwan), Pundi X Labs Private Limited (Singapore), Filament (US), GENERAL BYTES R.O. (Czech Republic), RIDDLE&CODE (Austria), AVADO (Switzerland), Sikur (US), SIRIN LABS (Switzerland), Blockchain Luxembourg S.A. (UK), SatoshiLabs (Czech Republic), Genesis Coin Inc. (US), and Lamassu Industries AG (Switzerland) are some of the major players in the blockchain devices market.

Report Scope

Report Metric

Details

Market size available for years

2019-2024

Base year considered

2018

Forecast period

2019–2024

Forecast units

Value, USD thousand/million

Segments covered

By type, connectivity type, application, and region

Regions covered

North America, Europe, APAC, and RoW

Companies covered

Ledger SAS (France), HTC Corporation (Taiwan), Pundi X Labs Private Limited (Singapore), Filament (US), GENERAL BYTES R.O. (Czech Republic), RIDDLE&CODE (Austria)

Blockchain devices market segmentation:

 In this report, the market is segmented into the following categories:

Blockchain devices market, by Type:

  • Blockchain smartphones
  • Crypto hardware wallets
  • Crypto ATMs
  • POS devices
  • Others (blockchain gateways and pre-configured devices)

Blockchain devices market, by Connectivity:

  • Wired
  • Wireless

Blockchain devices market, by Application:

  • Personal
  • Corporate

Blockchain devices market, by Region:

  • North America
  • Europe
  • Asia Pacific (APAC)
  • Rest of the World (RoW)

Recent Developments

  • Ledger launched a new product, Ledger Nano X in May 2019. This new product is similar to Nano S, but Bluetooth connectivity is the added feature in it. Users will be able to connect with their computers wirelessly, and Ledger’s Live Mobile app will be able to send and receive cryptocurrencies via phones.
  • HTC launched its first blockchain phone, EXODUS 1 in October 2018. This phone provides the premium performance and quality of design expected from HTC’s flagship device lineup. It combines with blockchain technology and software necessary to create a smartphone experience fit for a modern user and the new internet age.
  • Pundi X launched a new blockchain smartphone, Function X in June 2019. This new smartphone is based on Android OS 9.0, making it compatible with Android apps. Function X is a total decentralized solution and not just a public chain. It consists of five essential components—Function X OS, Function X Blockchain, Function X IPFS, FXTP Protocol, and the Function X Docker. The main aim of these features is to decentralize all apps, websites, communications, and data.
  • Filament announced the launch of Blocklet for trusted vehicle applications (TVA) in November 2018. It is the industry’s first end-to-end automotive blockchain platform that allows vehicles to participate directly in blockchain and distributed ledger technologies (DLTS). The Blocklet hardware for trusted vehicle applications includes filament’s Blocklet technology as well as cellular connectivity, and environmental sensing and access to vehicle diagnostics. Blocklet TVA is a secure and flexible platform that enables a wide range of new products, services, and business models to be created at the intersection of vehicles and blockchains
  • RIDDLE&CODE launched hardware-based blockchain car wallets to enable future mobility solutions. With the help of this device, Cars will automatically settle value and exchange data with charging solutions, smart city systems, or parking zones without human interaction.

Critical questions the report answers:

  • Where will all these developments take the industry in the mid to long term?
  • Which are the upcoming industries that expected to adopt Blockchain devices?
  • How is Blockchain devices influencing the automotive market?
  • How are the companies addressing the challenge of hardware and software integration for Blockchain devices market?
  • How are companies tackling the increasing number of connected devices that result in increasing issue of security?

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Study Objectives
    1.2 Definition
    1.3 Study Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered
    1.4 Currency
    1.5 Limitations
    1.6 Stakeholders

2 Research Methodology (Page No. - 18)
    2.1 Research Data
           2.1.1 Secondary and Primary Research
                    2.1.1.1 Key Industry Insights
           2.1.2 Secondary Data
                    2.1.2.1 List of Major Secondary Sources
                    2.1.2.2 Secondary Sources
           2.1.3 Primary Data
                    2.1.3.1 Breakdown of Primaries
                    2.1.3.2 Primary Sources
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
    2.4 Research Assumptions

3 Executive Summary (Page No. - 28)

4 Premium Insights (Page No. - 32)
    4.1 Attractive Opportunities in Market
    4.2 Market, By Type
    4.3 Wireless Blockchain Devices Market, By Type
    4.4 Market in APAC, By Type and Country
    4.5 Market, By Geography

5 Market Overview (Page No. - 35)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Faster Transaction
                    5.2.1.2 Increasing Adoption of Blockchain Technology in Retail &, Supply Chain Management
                    5.2.1.3 Increasing Venture Capital Funding
                    5.2.1.4 Growing Market Cap for Cryptocurrency and Initial Coin Offering (ICO)
           5.2.2 Restraints
                    5.2.2.1 Uncertain Regulations and Compliances
                    5.2.2.2 Lack of Awareness
           5.2.3 Opportunities
                    5.2.3.1 Increasing Acceptance of Cryptocurrency Across Various Industries as Well as Regions
                    5.2.3.2 Anticipated Adoption of Blockchain Devices for Payments, Smart Contracts, and Digital Identity
                    5.2.3.3 Increasing Number of Government Initiatives for Adopting Blockchain Technology and Devices
           5.2.4 Challenges
                    5.2.4.1 Issues Related to Security, Privacy, and Control
    5.3 Types of Blockchain
           5.3.1 Public Blockchain
           5.3.2 Private Blockchain
           5.3.3 Hybrid Blockchain
    5.4 Blockchain Associations and Consortiums
           5.4.1 Enterprise Ethereum Alliance
           5.4.2 CLS Group
           5.4.3 R3ce V Blockchain Consortium
           5.4.4 Hyperledger
           5.4.5 Global Payments Steering Group (GPSG)
           5.4.6 Financial Blockchain Shenzhen Consortium (FBSC)
           5.4.7 Culedger
           5.4.8 Blockchain Collaborative Consortium (BCCC)
           5.4.9 Global Blockchain Business Council
           5.4.10 Wall Street Blockchain Alliance (WSBA)

6 Blockchain Devices Market, By Type (Page No. - 43)
    6.1 Introduction
    6.2 Blockchain Smartphones
           6.2.1 Need for Safe Storage and Ease of Transfer of Cryptocurrencies Drive the Market for Blockchain Smartphones
    6.3 Crypto Hardware Wallets
           6.3.1 Increasing Need of Wallets to Save the Private Keys
    6.4 Crypto ATMS
           6.4.1 One-Way Crypto ATMS
                    6.4.1.1 Exchange of Cryptocurrencies Drive the Market for Crypto ATMS
           6.4.2 Two-Way Crypto ATMS
                    6.4.2.1 Two-Way is the Fastest Growing Market for Crypto ATMS
    6.5 POS Devices
           6.5.1 Easy and Fast Transactions of Cryptocurrencies Drive the Market for POS Device
    6.6 Others

7 Blockchain Devices Market, By Connectivity (Page No. - 51)
    7.1 Introduction
    7.2 Wired
           7.2.1 Wired Held the Largest Share of Blockchain Device
    7.3 Wireless
           7.3.1 Wireless Connectivity is the Fastest Growing Market for Blockchain Devices

8 Blockchain Devices Market, By Application (Page No. - 55)
    8.1 Introduction
    8.2 Personal
           8.2.1 Increasing Use of Crypto Hardware Wallets for Personal Use Drive the Market
    8.3 Corporate
           8.3.1 BFSI
                    8.3.1.1 Increasing Need to Secure Business Transactions to Drive the Demand for Blockchain Device in the BFSI
           8.3.2 Government
                    8.3.2.1 Government Agencies are Deploying Blockchain Devices to Improve the Transparency and Efficiency in Operations
           8.3.3 Retail & E-Commerce
                    8.3.3.1 The Need to Enhance Customer Experience Driving the Adoption of Blockchain in the Retail and eCommerce Vertical
           8.3.4 Travel & Hospitality
                    8.3.4.1 Increasing Need for Blockchain Applications Across Travel and Hospitality Start-Ups to Manage Internal Processes and Inventories
           8.3.5 Automotive
                    8.3.5.1 Increasing Demand for Digital Identity of Vehicles Drive the Blockchain Device Market
           8.3.6 Transportation & Logistics
                    8.3.6.1 Need for Blockchain Technology to Maintain Transparency and Security of Goods and Raw Materials Across Transport and Logistics Industry Vertical
           8.3.7 It & Telecommunication
                    8.3.7.1 IoT and 5G to Create Great Market Opportunity for Blockchain in the It and Telecommunication Vertical
           8.3.8 Others

9 Regional Analysis (Page No. - 62)
    9.1 Introduction
    9.2 North America
           9.2.1 US
                    9.2.1.1 US A Major Contributor of Blockchain Device Market in North America
           9.2.2 Canada
                    9.2.2.1 Canada Holds the Significant Growth Opportunity for Market in North America
           9.2.3 Mexico
                    9.2.3.1 Mexico Expected to Grow at A Fastest Rate
    9.3 Europe
           9.3.1 Germany
                    9.3.1.1 Company Initiatives to Drive Blockchain Device in Germany
           9.3.2 UK
                    9.3.2.1 UK to Account for the Largest Share of Blockchain Devices in Europe
           9.3.3 France
                    9.3.3.1 France is the Fastest Growing Market for Blockchain Devices
           9.3.4 Austria
                    9.3.4.1 Increasing Initiatives By Public & Private Sector for Deploying the Blockchain Devices
           9.3.5 Rest of Europe
    9.4 Asia Pacific
           9.4.1 China
                    9.4.1.1 China Held the Largest Share of Blockchain Device
           9.4.2 Japan
                    9.4.2.1 Japan to Provide Attractive Opportunity for Blockchain Device
           9.4.3 South Korea
                    9.4.3.1 Government Initiatives to Drive the Blockchain Devices in South Korea
           9.4.4 India
                    9.4.4.1 Government Initiated Blockchain Project to Drive Blockchain Devices Market in India
           9.4.5 Singapore
                    9.4.5.1 Increasing Adoption of Blockchain Devices in Retails Industry Drive the Market
           9.4.6 Rest of Asia Pacific
    9.5 Rest of the World
           9.5.1 South America
                    9.5.1.1 South America to Be Fastest Growing Region for Blockchain Devices
           9.5.2 Middle East & Africa
                    9.5.2.1 Turkey, Israel and South Africa are Expected to Be the Major Contributors of Blockchain Device Market in MEA

10 Competitive Landscape (Page No. - 79)
     10.1 Overview
     10.2 Ranking Analysis of Key Players in the Market
     10.3 Competitive Situations and Trends
             10.3.1 Product Launches
             10.3.2 Agreements, Partnerships, Collaborations, & Contracts
             10.3.3 Expansions
     10.4 Competitive Leadership Mapping, 2018
             10.4.1 Visionary Leaders
             10.4.2 Dynamic Differentiators
             10.4.3 Innovators
             10.4.4 Emerging Companies

11 Company Profiles (Page No. - 87)
(Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View)*
     11.1 Key Players
             11.1.1 Ledger SAS.
             11.1.2 HTC
             11.1.3 Pundi X
             11.1.4 Filament
             11.1.5 General Bytes R.O.
             11.1.6 Riddle&Code
             11.1.7 Avado
             11.1.8 Sikur
             11.1.9 Sirin Labs
             11.1.10 Blockchain Luxembourg S.A
             11.1.11 Satoshilabs S.R.O.
             11.1.12 Genesis Coin Inc.
             11.1.13 Lamassu Industries AG
     11.2 Other Companies
             11.2.1 Samsung Electronics
             11.2.2 Shapeshift
             11.2.3 Coolbitx
             11.2.4 Bitaccess
             11.2.5 Covault
             11.2.6 Ellipal Limited

*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, and MnM View Might Not Be Captured in Case of Unlisted Companies.

12 Appendix (Page No. - 107)
     12.1 Insights From Industry Experts
     12.2 Discussion Guide
     12.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports
     12.6 Author Details


List of Tables (38 Tables)

Table 1 Blockchain Devices Market, By Type, 2016–2024 (USD Thousand)
Table 2 Market, By Type, 2016–2024 (Units)
Table 3 Blockchain Smartphones Market , By Region , 2016–2024 (USD Million)
Table 4 Crypto Hardware Wallets Market, By Region , 2016–2024 (USD Million)
Table 5 Crypto ATMS Market , By Region , 2016–2024 (USD Thousand)
Table 6 Crypto ATMS Market, By Type , 2016–2024 (USD Million)
Table 7 POS Devices Market, By Region , 2016–2024 (USD Thousand)
Table 8 Other Market, By Region, 2016–2024 (USD Thousand)
Table 9 Market, By Connectivity, 2016–2024 (USD Million)
Table 10 Wired Blockchain Devices Market, By Type , 2016–2024 (USD Thousand)
Table 11 Wireless Blockchain Devices Market, By Type , 2016–2024 (USD Million)
Table 12 Market, By Application, 2016–2024 (USD Million)
Table 13 Market for Personal, By Region, 2016–2024 (USD Million)
Table 14 Market for Corporate, By Region, 2016–2024 (USD Thousand)
Table 15 Market for Corporate, By End User, 2016–2024 (USD Million)
Table 16 Market, By Region, 2016–2024 (USD Million)
Table 17 Market, By Region, 2016–2024 (Thousand Units)
Table 18 Market in North America, By Type, 2016–2024 (USD Thousand)
Table 19 Market in North America, By Application, 2016–2024 (USD Million)
Table 20 Market in North America, By Country, 2016–2024 (USD Million)
Table 21 Market in Europe, By Type, 2016–2024 (USD Thousand)
Table 22 Market in Europe, By Application, 2016–2024 (USD Million)
Table 23 Blockchain Devices Market in Europe, By Country, 2016–2024 (USD Million)
Table 24 Market in the Asia Pacific, By Type, 2016–2024 (USD Thousand)
Table 25 Market in the Asia Pacific, By Application, 2016–2024 (USD Million)
Table 26 Market in the Asia Pacific, By Country, 2016–2024 (USD Thousand)
Table 27 Market in the Rest of the World, By Type, 2016–2024 (USD Thousand)
Table 28 Market in the Rest of the World, By Application, 2016–2024 (USD Thousand)
Table 29 Market in the Rest of the World, By Region, 2016–2024 (USD Million)
Table 30 Market in South America, By Country, 2016–2024 (USD Thousand)
Table 31 Market: Ranking Analysis of Key Companies, for Blockchain Smartphones
Table 32 Market: Ranking Analysis of Key Companies, for Crypto Hardware Wallets
Table 33 Market: Ranking Analysis of Key Companies, for Crypto ATMS
Table 34 Market: Ranking Analysis of Key Companies, for POS Devices
Table 35 Market: Ranking Analysis of Key Companies, for Other Devices
Table 36 Product Launches, 2017–2018
Table 37 Agreements, Partnerships, Collaborations, and Contracts, 2017–2019
Table 38 Expansions 2017–2019


List of Figures (27 Figures)

Figure 1 Research Design
Figure 2 Process Flow of Market Size Estimation
Figure 3 Bottom-Up Approach
Figure 4 Top-Down Approach
Figure 5 Data Triangulation
Figure 6 Crypto Hardware Wallets to Hold Largest Share of Market From 2019 to 2024
Figure 7 By Connectivity, Wireless Segment to Register Higher CAGR Than Wired Segment During Forecast Period
Figure 8 By Application, Corporate Segment to Hold Larger Market Share Than Personal Segment From 2019 to 2024
Figure 9 Market in Retail & E-Commerce to Grow at Highest Rate During Forecast Period
Figure 10 Market in APAC to Grow at Highest CAGR From 2019 to 2024
Figure 11 APAC to Grow at Highest CAGR in Market During Forecast Period
Figure 12 Market for Other Types to Grow at Highest CAGR From 2019 to 2024
Figure 13 Crypto Hardware Wallets to Hold Largest Share of Market During Forecast Period
Figure 14 Singapore Estimated to Hold Largest Share of APAC Blockchain Devices Market in 2019
Figure 15 Market in South America to Grow at Highest CAGR From 2019 to 2024
Figure 16 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Crypto Hardware Wallets Segment is Projected to Lead Market From 2019 to 2024
Figure 18 North America POS Devices Market is Projected to Grow at the Highest CAGR From 2019 to 2024
Figure 19 Wired Segment is Projected to Lead Market From 2019 to 2024
Figure 20 Corporate Segment is Projected to Lead Market From 2019 to 2024
Figure 21 Market in Asia Pacific to Grow at Highest CAGR From 2019 to 2024
Figure 22 North America Market Snapshot
Figure 23 Europe: Snapshot of Market
Figure 24 Asia Pacific: Snapshot of Market
Figure 25 Product Launches Key Growth Strategy From 2017 to 2019
Figure 26 Market (Global) Competitive Leadership Mapping, 2018
Figure 27 HTC: Company Snapshot

The study involved four major activities in estimating the current size of the blockchain devices market. Exhaustive secondary research was done to collect information on the market, including the peer market and parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. Thereafter, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.

Secondary Research

Secondary sources referred to in this research study include corporate filings (such as annual reports, investor presentations, and financial statements); trade, business, and professional associations; white papers, blockchain devices-related journals, certified publications, articles from recognized authors; directories; and databases. The secondary data has been collected and analyzed to arrive at the overall market size estimations, which has been further validated by primary research.

Primary Research

In the primary research process, various primary sources from both supply and demand sides have been interviewed to obtain qualitative and quantitative information relevant to this report. Extensive primary research has been conducted after understanding and analyzing the blockchain devices market through secondary research. Several primary interviews have been conducted with key opinion leaders from both demand- and supply-side vendors across four regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). RoW comprises South America and the Middle East & Africa. Approximately 25% of the primary interviews have been conducted with the demand side and 75% with the supply side. This primary data has been collected mainly through telephonic interviews, which accounted for 80% of the total primary interviews. Besides, questionnaires and emails were also used to collect the data.

Blockchain Devices Market

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both top-down and bottom-up approaches were implemented to estimate and validate the total size of the blockchain devices market. These methods were also used extensively to estimate the size of the markets based on various subsegments. The research methodology used to estimate the market size includes the following steps:

  • The key players in the industry and markets have been identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, have been determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns have been determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes as explained above—the market was split into several segments and subsegments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from the demand and supply sides across different end-use applications.

Study Objectives

  • To define, analyze, and forecast the blockchain devices market, based on type, connectivity, application, and region
  • To forecast the size of various segments of the blockchain devices market based on four main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW)
  • To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and challenges)
  • To analyze micromarkets1 with respect to their individual growth trends, prospects, and contribution to the overall market
  • To profile key players and comprehensively analyze their market positions in terms of ranking and core competencies2
  • To analyze competitive developments such as joint ventures, mergers & acquisitions, product developments, and ongoing research and development (R&D) undertaken by market players in the blockchain devices market

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company's specific needs. The following customization options are available for this report:

  • Company Information: Detailed analysis and profiling of an additional five market players
  • Country-level break-up for the market based on application and type
Report Code
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