What is Blockchain Devices Market?
The block chain devices such as smartphones, POS and others uses wireless connectivity for transfer of data. These devices use Wi-Fi, Bluetooth and Near Field Communication technology. Block chain provides transparency, reduces risks, and eliminates fraud. Different concepts in block chain includes blocks, nodes and miners. It creates decentralized system and provides peer to peer connection. Further, this technology has 4 elements such as consensus, ledger, cryptography and smart contract.
The market study is being classified by Type (Block chain smartphones, Crypto hardware wallets, Crypto ATMs, POS devices and Others), by Application (Personal and Corporate) and major geographies with country level break-up.
Ledger SAS (France), HTC Corporation (Taiwan), Pundi X Labs Private Limited (Singapore), Filament (United States), General Bytes R.O. (Czech Republic), Riddle & Code (Austria), Avado (Switzerland), Sikur (United States), Sirin Labs (Switzerland) and Blockchain Luxembourg S.A. (United Kingdom) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are SatoshiLabs (Czech Republic), Genesis Coin Inc. (United States) and Lamassu Industries AG (Switzerland).
Research Analyst at AMA predicts that Europe Players will contribute to the maximum growth of Global Blockchain Devices market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Blockchain Devices market by Type, Application and Region.
On the basis of geography, the market of Blockchain Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rising need to digitize supply chain leading to application of technologies such as Block chain. The supply chains are becoming complicated due to rising need of inter and intra-organisational contentedness. Hence, this factor is contributing towards the usage of block chain devices.
Market Trend
- Increasing Number of Smart Cities Leading to Implementation of Block Chain Devices and Internet of Things
Restraints
- Unable to Use Block Chain Technology Universally as it is Suitable to Certain Activities or Systems Requirement
Opportunities
- Acceptance of Crypto Currency in Industries is Boosting the Growth
Challenges
- Cyber Security Concerns may hamper the Market
In October 2019, HTC has launched a blockchain phone, Exodus 1 which supports bitcoin network and In May 2019, Ledger has launched nano X which is similar to nano S. However, the Bluetooth connectivity is the added feature. The users will be able to receive and send crypto currencies via phones.
According to financial policy council, in September 2018, Caucus Tom Emmer has introduced “Resolution Supporting Digital Currencies and Blockchain Technology” bill, the “Blockchain Regulatory Certainty Act” and the “Safe Harbor for Taxpayers with Forked Assets Act.” These bills encourages to monitor block chain entities. They also provide the suggestion for taxation of digital assets via crypto taxation guidance.
Key Target Audience
Manufacturers, Raw Material Suppliers, Distributors and Traders, Research Organisations, Government Agencies and Organisations