Worldwide Hardware Wallet Industry to 2028 – High Market Growth Potential Across Developing Economics – ResearchAndMarkets.com
October 20, 2021 04:56 AM Eastern Daylight Time
DUBLIN–(BUSINESS WIRE)–The “Hardware Wallet Market By Type, Connection Type, End User and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2028” report has been added to ResearchAndMarkets.com’s offering.
“Hardware Wallet Market By Type, Connection Type, End User and Distribution Channel: Opportunity Analysis and Industry Forecast, 2021-2028”
The global hardware wallet market size was valued at $0.22 billion in 2020, and is projected to reach at $1.02 billion by 2028, growing at a CAGR of 24.0 % from 2021 to 2028. Hardware wallet is one of the prime components of blockchain database intended to store users’ private key in a secure wallet. The hardware wallet is immune to any computer virus that may damage to steal store coin or crypto information.
Rise in demand for cryptocurrency across the commercial sector, owing to high investment from prime players coupled with surge in demand for next-generation digital technology in the financial sector, is influencing the market growth. However, implementation of government regulations for dealing in cryptocurrency and the absence of customer awareness are acting as a major restraints of the market growth. Furthermore, high market growth potential in major emerging economies is expected to provide lucrative opportunities for the hardware wallet industry during the forecast period.
The global hardware wallet market is segmented into type, connection type, end user, distribution channel, and region. On the basis of type, the market is fragmented into hot wallets and cold wallets. Depending on connection type, it is segregated into near-field communication, Bluetooth, and USB. By end user, it is divided into commercial and individual. As per distribution channel, it is bifurcated into online and offline.
Market Dynamics
Drivers
- Rise in investment in cryptocurrency
- Development of new technology
- Transparency of distributed ledger technology
Restraints
- Lack of consumer awareness regarding buying & selling of cryptocurrencies
- Implementation of various government regulations against cryptocurrencies
Opportunity
- High market growth potential across developing economics
Challenge
- Rise in concerns regarding privacy and security
Companies Mentioned
- ARCHOS
- BitLox
- CoolBitX Technology Ltd.
- ELLIPAL Limited
- Ledger SAS
- OPOLO SARL
- Satoshi Labs SRO
- ShapeShift
- Shift Cryto AG
- Sugi (zSofitto NV)
For more information about this report visit https://www.researchandmarkets.com/r/p9f8av
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
[email protected]
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
PRESS RELEASE: The information published herein corresponds to a press release from the company/project cited. The statements are under their responsibility. Cryptopress® shall not be liable for any damage or loss caused by its use.
*Get your PR published here.
Related Posts
- MicroStrategy Announces Second Quarter 2021 Financial Results July 29, 2021 04:01 PM Eastern Daylight Time TYSONS CORNER, Va.–(BUSINESS WIRE)–MicroStrategy® (Nasdaq: MSTR), the largest independent publicly-traded business intelligence company, today announced financial results for the three-month period ended June 30, 2021 (the second quarter of its 2021 fiscal year)....
- Most Mobile Authenticator Apps Have a Design Flaw That Can Be Hacked Crypto Apps: Mobile Authenticator Apps Have a Design Flaw That Can Be Hacked...
- Crypto Events Archive A growing list of past crypto and blockchain events from around the world. Conferences, workshops, meetups, hackathons, conferences....
- Safemoon SafeMoon is a DeFi token (decentralized finance token) that offers fractional cryptocurrency trading, blockchain-based loans, and commission-free exchanges. ...