Hardware Wallet Market

Hardware wallets allow one to manage own private keys, granting full ownership and control on funds. Since the private keys are kept offline at all times, they are immune to malicious software, except in a scenario where the device is defective. As they are able to sign transactions without the private keys ever leaving the device, they are more secure than a software wallet.

Market Dynamics:

The companies are concentrating on innovation with devices that handle numerous currencies and wireless technologies due to increased investments in the market under study. This is expected to drive the growth of the global hardware wallet market. For instance, in August 2022, Ledger, a prominent hardware manufacturer for securing digital assets, intends to invest at least USD 100 million to grow its company. Most prominent entrepreneurs and businesses are interested in bridging hot and cold storage to find the best of both. This is expected to offer lucrative opportunities in the growth of global hardware wallet market.  For instance, in August 2022, Coinkite, a bitcoin business, released Tapsigner, its newest hardware wallet, to simplify cold-storage bitcoin self-custody.

On contrary, lack of consumer awareness regarding buying and selling of cryptocurrency is expected to hamper the growth of global hardware wallet market. 

Key features of the study:

• This report provides in-depth analysis of the global warehouse robotics market, and provides market size (US$ 227.1 Mn ) and compound annual growth rate (24.9%) for the forecast period (2022–2030), considering 2021 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global hardware wallet market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Major companies operating the global hardware wallet market are ARCHOS S.A., ELLIPAL LTD., LEDGER SAS and OPOLO SARL.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global hardware wallet market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global hardware wallet market.

Detailed Segmentation:

• Global Hardware Wallet Market, By Type:
  • Hot Wallet
  • Cold Wallet
• Global Hardware Wallet Market, By Connection Type
  • Near Field Communication
  • USB
  • Bluetooth
• Global Hardware Wallet Market, By End User
  • Commercial
  • Individual
• Global Hardware Wallet Market, By Distribution Channel
  • Online
  • Offline
• Global Hardware Wallet Market, By Geography
  • North America
  • Europe
  • Asia-Pacific
  • LAMEA
• Company Profiles:
  • ARCHOS S.A.
  • ELLIPAL LTD.
  • LEDGER SAS
  • OPOLO SARL.