Messari analyst Dylan Bane said that Messari predicts that DePIN industry revenue will exceed $150 million next year, according to Foresight News. Entering 2024, the supply side of DePIN has been established, but the demand side revenue is limited and the DePIN model cannot be verified.
During the year, several agreements generated seven- and even eight-figure revenues, suggesting that DePIN has promise in capturing the demand side that has constrained growth to date.