Secure smartphones: better equipped to fight cybercriminals (Image: Pete Linforth, pixabay.com)

According to a new survey by Market Research Future, the global market is growing by a third every year

The market for blockchain smartphones, which are so secure that users can even manage their crypto assets without risk, is growing by around a third every year. At least, that is what a study by market research institute Market Research Future (https://www.marketresearchfuture.com/) shows. The market is worth around nine billion dollars this year and is forecast to reach a good 118 billion dollars by 2034.

AI helps cybercriminals

The background to this development is the increase in attacks on mobile devices. Between December 2022 and 2023 alone, there were 147 percent more incidents, further underscoring the need for improved security features. This is all the more serious as cybercriminals are increasingly using technology to step up their efforts. One example is the Android malware “AsyncRAT,” which, according to Check Point Software Technologies (https://www.checkpoint.com/de/), was developed using artificial intelligence.

Smartphone manufacturers must therefore find ways to stay one step ahead of cybercriminals. This explains the growing appeal of blockchain. Its decentralized nature protects ecosystems from “single points of failure” (SPOF), which are common in centralized infrastructures. SPOFs are errors or malfunctions that can cause an entire system to shut down.

In addition, blockchain uses an advanced encryption system that makes it difficult for unauthorized persons to access data. Its immutability improves data integrity, as no one can change or manipulate information after it has been stored.

Cryptocurrencies as a driver

According to a 2024 report by Exploding Topics, a trend-tracking company, around one billion people worldwide use digital currencies. One focus is on North America. Consequently, the blockchain market there is the largest. Market Research Future expects the North American segment alone to reach around $15 billion by 2032, up from $3.78 billion in 2023.

Europe is then expected to reach $12 billion, up from $0.791 billion in 2023. The Asia-Pacific region is also developing well, according to the study. A significant increase from $1.186 billion in 2023 to $18 billion in 2032 is forecast.