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Global Cryptocurrency Hardware Wallet Market Size, Status and Forecast 2021-2027
Published Date: May 2019
|
Report Code: QYRE-Auto-E301
Home | Market Reports | Computers & Electronics | Software
Global Cryptocurrency Hardware Wallet Market Size Status and Forecast 2019 2025

Global Cryptocurrency Hardware Wallet Market Size, Status and Forecast 2021-2027

Code: QYRE-Auto-E301
Report
May 2019
98 Pages
QYResearch
Region: Global, Europe, North America, USA, China, Southeast Asia, India, Japan, Asia Pacific,
Description
Table of Content
Tables & Figures

Cryptocurrency Hardware Wallet Market Statistics 2027

The global Cryptocurrency Hardware Wallet market size is projected to reach USD 58290 million by 2027, from USD 699.6 million in 2020, at a CAGR of 88.1% during 2021-2027. To communicate with electronic applications, the hardware wallet gadget uses technologies like near-field communication and Bluetooth. Due to the growth in demand for digital currencies or cryptocurrencies for trade, this gadget is widely used on a business basis. Furthermore, the wallet programs have been updated with a hacked and theft-free module, making devices impervious to any potential threats. In comparison to software, paper wallets, and web wallets, these devices offer increased security, which is projected to drive market growth during the forecast period.
Cryptocurrency Hardware Wallet Market

Trends Influencing the Cryptocurrency Hardware Wallet Market

Due to an increase in demand for high transparency of distributed ledger technology across the commercial sector, Cryptocurrency Hardware Wallet Market is predicted to grow significantly during the projection period. Furthermore, the development of new technology throughout the cryptocurrency sector is likely to promote the Cryptocurrency Hardware Wallet Market growth. Moreover, the hardware wallet market is predicted to develop due to a significant increase in the number of investments in cryptocurrency-based products.

The introduction of COVID-19 has worked as a major catalyst for the cryptocurrency market's expansion, boosting demand for Cryptocurrency Hardware wallets. The worldwide hardware wallet market has been struck by several challenges as a result of the adoption of a lockdown and a halt in manufacturing and selling activities. This resulted in a shortage of raw materials and skilled labor, as well as contractual commitments and project delays or cancellations. Furthermore, the recent advent of different cryptocurrency storage devices is projected to propel the hardware wallet market during the post-pandemic period.

However, government laws against cryptocurrencies or digital currency, as well as rising worries about crypto's privacy and security, are posing a significant threat to this business. The surge in technological breakthroughs in the business sector, on the other hand, is opportunistic for Cryptocurrency Hardware Wallet Market expansion. Furthermore, during the forecast period, the high potential of developing economies, combined with an increased focus on security, is likely to provide attractive prospects for the advancement of the Cryptocurrency Hardware Wallet Market.

Cryptocurrency Hardware Wallet market size

Cryptocurrency Hardware Wallet Market Share Analysis 

Based on region, the largest market in the Asia Pacific, which accounts for over 40% of the worldwide market share. 

North America and Europe come in second and third, with a combined market share of about 60%. 

Based on type, USB Connectivity type dominated the Cryptocurrency Hardware Wallet market share, with a share value of 80% of the market.

Based on application, the individual segment has the greatest share of Cryptocurrency Hardware Wallet market share of about65 percent.

Cryptocurrency Hardware Wallet Market By Type

  • USB Connectivity Type
  • Bluetooth Connectivity Type
  • NFC Connectivity
  • Others

Cryptocurrency Hardware Wallet Market By Application

  • Individual
  • Professionals

Cryptocurrency Hardware Wallet Market By Regions

  • North America
    • United States
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Russia
    • Nordic
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • South Korea
    • Southeast Asia
    • India
    • Australia
    • Rest of Asia-Pacific
  • Latin America
    • Mexico
    • Brazil
  • Middle East & Africa
    • Turkey
    • Saudi Arabia
    • UAE
    • Rest of Middle East & Africa

Top Companies in the Cryptocurrency Hardware Wallet Market

The top four manufacturers in the world control roughly 60% of the market. Some of the top companies analyzed in the Cryptocurrency Hardware Wallet market report include:

  • Ledger
  • Trezor
  • KeepKey
  • Digital BitBox
  • Coinkite
  • BitLox
  • CoolWallet
  • CryoBit
  • Digital BitBox
  • Coinkite

Cryptocurrency Hardware Wallet Market Scope

Report Metric

Details

Report Name

Cryptocurrency Hardware Wallet Market

The Market size value in 2020

699.6 Million USD

The Revenue forecast in 2027

58290 Million USD

Growth Rate

CAGR of 88.1% from 2021 to 2027

Base year considered

2020

Forecast period

2021-2027

Forecast units

Value (USD)

Segments covered

Type, End-User, Offerings, and Region

Report coverage

Revenue & volume forecast, company share, competitive landscape, growth factors, and trends

Geographic regions covered

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Companies covered

Ledger, Trezor, KeepKey, Digital BitBox, Coinkite, BitLox, CoolWallet, CryoBit

Frequently Asked Questions About This Report 

1. How big is the Cryptocurrency Hardware Wallet Market?

Ans. The global Cryptocurrency Hardware Wallet market size is projected to reach US$ 58290 million by 2027, from US$ 699.6 million in 2020.

2. What is the Cryptocurrency Hardware Wallet Market Growth?

Ans. The global Cryptocurrency Hardware Wallet market is expected to grow at a compound annual growth rate of 88.1% from 2021 to 2027.

3. Who are the major key players in Cryptocurrency Hardware Wallet Market?

Ans. Global Cryptocurrency Hardware Wallet main players are Ledger, Trezor, KeepKey, Digital BitBox, etc. Global top four manufacturers hold a share above 60%.

TABLE OF CONTENT

LIST OF TABLES & FIGURES

 

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