Dublin, Jan. 15, 2020 (GLOBE NEWSWIRE) -- The "Hardware Wallet Market - Growth, Trends and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The Global Hardware Wallet Market was valued at USD 164.19 million in 2019 and is expected to reach USD 708.37 million by 2025 at a CAGR of 24.93% over the forecast period (2020-2025).
Investments in cryptocurrency increased from USD 18 billion in January 2017 to more than USD 800 billion in January 2018. With this rise in investments, people started saving their cryptocurrency from exchange with their own private keys. With more than 250,000 bitcoin transactions taking place every day, on an average, hardware wallets are anticipated to become essential to provide security to the holdings.
Cryptocurrencies bring with them security risks for hardware wallets. While hardware wallets offer increased security and trust for the data processed and stored in the device, they also need to be protected from a wide variety of attacks.
In June 2018, the US Federal Reserve Bank recognized cryptocurrency, and four cryptocurrencies were added to the Federal Reserve Bank of St Louis, one of twelve regional banks in the US central banking system. The four cryptocurrencies added were Bitcoin, Litecoin, Bitcoin Cash, and Ethereum. With the country being at the core of the cryptocurrency industry, the consumption of hardware wallets is expected to remain strong.
The increasing participation of other industries is further expected to drive the growth of the market studied in the country during the forecast period. Also, the increase in demand for hardware wallets in South Korea is anticipated to impact the position of Asia-Pacific in the market studied, globally.
Key Market Trends
NFC Type to Hold Significant Share
Asia-Pacific Expected to Witness Significant Growth
Competitive Landscape
Some of the key developments in the area are:
Key Topics Covered
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Investments in Cryptocurrency
4.3.2 Rising Focus on Security
4.4 Market Restraints
4.4.1 Regulations against Cryptocurrencies
4.4.2 Limited Consumer Awareness
4.5 Value Chain Analysis
4.6 Industry Attractiveness Porter's Five Forces Analysis
5 MARKET SEGMENTATION
5.1 By Type
5.1.1 USB
5.1.2 NFC
5.1.3 Bluetooth
5.2 Geography
5.2.1 North America
5.2.2 Europe
5.2.3 Asia-Pacific
5.2.4 Rest of the world
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Ledger SAS
6.1.2 Satoshi Labs SRO
6.1.3 Key Hodlers LLC
6.1.4 Coinkite Inc.
6.1.5 Coolbitx Ltd.
6.1.6 SHIFT Cryptosecurity
6.1.7 Penta Security Systems Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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