Global Crypto Hardware Wallets Market By Type (USB Connectivity Type, Bluetooth Connectivity Type, NFC Connectivity, Others), Product Type (Web-Based, Installed), Application (Individual, Professionals), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Crypto Hardware Wallets Market
Global crypto hardware wallets market is expected to register a substantial CAGR during the forecast period of 2019-2026. This rise in market value can be attributed to the rising consumption of devices such as computers and mobile phones.
Market Definition: Global Crypto Hardware Wallets Market
A crypto hardware wallet acts as a physical vault which is designed for offering safe storage for the cryptocurrency private key. These types of specially designed hard-drives are usually connected to the smartphone or computer through a USB. The hardware wallets usually do the transactions online but they are stored offline as they deliver increased security. These type of hardware wallets are compatible with various web interfaces and supports different currencies. Hardware wallets help in the easy transaction while keeping the money offline and also away from danger.
- Growing adoption of cryptocurrency for fast and secure transactions will drive the market growth
- Fluctuations in the monetary regulations is also expected to drive the growth of this market
- Increasing venture capital investments will boost the growth of this market
- High payments in the developing countries is escalating the market growth
- Uncertain regulatory status is expected to restrain the market growth
- Lack of technical understanding and awareness regarding cryptocurrency is also expected to hinder the market growth
Segmentation: Global Crypto Hardware Wallets Market
- USB Connectivity Type
- Bluetooth Connectivity Type
- NFC Connectivity
By Product Type
- North America
- South America
- Rest of South America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In January 2019, Ledger launched a new Bluetooth enabled hardware wallet named the Ledger Nano X with the Ledger Live Mobile App which brings various features such as app-driven transactions to the Nano X users and the wallet balance tracking option for both Nano X and Nano S users
- In 2016, Ledger introduced their users to Blockchain Open Ledger Operating System which enables for the building of source code portable native application around the secure core. This would enable any product or wallet which implements BOLOS to garner the protection against the application attacks by isolating the private keys
Global crypto hardware wallets market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of crypto hardware wallets market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global crypto hardware wallets market are Ledger SAS, Shift Cryptosecurity AG, Coinkite, BitLox, CoolWallet, Cryobit LLC., SatoshiLabs s.r.o., KeepKey, GEMNET Pte Ltd, BitMain Technologies Holding Company, Intel, OPENDIME, Cryobit LLC., among others
Research Methodology: Global Crypto Hardware Wallets Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Competitive analysis of key competitors involved in the market
- Complete analysis of market segmentation and which segments are set to flourish in the forecast period of 2019 to 2026
- Market drivers and restraints analysis along with the analysis of the market structure