According to a study conducted by the analytical company MarketsandMarkets, on average, the blockchain device market will grow by 42.5% per year and will reach $ 1.29 billion by 2024.
Researchers appreciated the prospects of various blockchain devices: smartphones, bitcoin, terminals, hardware cryptocurrency wallets and various wearable electronics. If in 2019 blockchain devices will be sold for about $ 218 million, then by 2024 the market is expected to reach $ 1.29 billion.
Among the growth factors are the increasing adoption of blockchain in various sectors of the economy, including trade, supply and venture financing, as well as the growing capitalization of cryptocurrency markets. But the lack of clear regulatory rules and various government obstacles hinder market growth.
According to analysts, sales of blockchain smartphones, hardware wallets and equipment for points of sales will grow most over the specified period. However, the blockchain will also develop in other areas, for example, in the automotive, banking and telecommunications.
“North America leads the global blockchain market through technology adoption. Also, several manufacturers of such devices are based in the region and make the blockchain even more popular, ”the report says.
Global Market Insights, a global market research company, recently announced that by 2025, investments in blockchain in the healthcare market will exceed $ 1.6 billion.
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