According to a study carried by the analytical company MarketsandMarkets, the blockchain device market will grow on average by 42.5% per year and will reach $1.29 billion by 2024.
Researchers evaluated the prospects for various blockchain devices:
- hardware cryptocurrency wallets;
- and various wearable electronics.
If blockchain devices will be sold for about $218 million in 2019, then the market is expected to reach $1.29 billion by 2024.
The increasing acceptance of blockchain in various sectors of the economy, including trade, supply, and venture financing, as well as the growing capitalization of the cryptocurrency market, cause the growth of the market. But the lack of clear regulatory rules and various government bridles hinder the market growth.
According to analysts, sales of blockchain smartphones, hardware wallets, and equipment for sales points will grow most over the specified period. However, the blockchain will also develop in other areas, for example, in the car industry, banking, telecommunications, etc.