Dublin, Aug. 06, 2021 (GLOBE NEWSWIRE) -- The "Global Hardware Wallet Market, By Connection Type (Near Field Communication, USB and Bluetooth), By Distribution Channel (Online and Offline), By End-User, By Region, Competition, Forecast & Opportunities, 2016-2026" report has been added to ResearchAndMarkets.com's offering.
The Global Hardware Wallet Market stood at USD 198.84 million in 2020 and is forecast to grow at a CAGR of over 10.12% by 2026 due to the rising demand for safety and security for storing various cryptocurrencies for the future investments. This growth is on the account of the increasing need for security and transparency along with the rising demand for the usage of cryptocurrencies in emerging countries across the world in the forecast years.
The Global Hardware Wallet Market can be segmented into connection type, distribution channel, end-user and region. On the basis of connection type, the Global Hardware Wallet Market can be divided as Near Field Communication, USB and Bluetooth, where the Near Field Communication segment accounted for the market share of 46.7% in 2020 due to its convenience and versability during any transfer processes. In terms of distribution channel, the Global Hardware Wallet Market is segmented into Online and Offline where the market share of the online segment is 52.17% due to its ease of delivery over a long distance while saving time.
The Global Hardware Wallet Market on the basis of end-user can diverge into Capital Market, BFSI (Excluding Capital Market), Real Estate, Mobile, Enterprise etc. The capital market sector has a market share of 49.14% which in turn is expected to enhance the market growth over the forecast period. This growth is due to the proliferation in the market investments with the generation of significant revenue in the market.
Major players leading in the Global Hardware Wallet Market are Ledger SAS, SatoshiLabs SRO, CoolBitX Technology Ltd., Shift Crypto AG, BitLox Limited, Coinkite Inc, KeepKey LLC, Penta Security Systems Inc., Sunmi Technology Co. Ltd, Ellipal Limited, etc. The companies operating in the market are focusing on higher security wallets, in-house manufacturing and expansion of sources to increase their shares in the market. Companies supplying hardware wallets are experiencing an exponential upsurge in the hardware wallet demands. With increasing number of people owning multiple cryptocurrencies, the demand for wallets is also increasing for the security and safe transaction processes.
The largest contributor to the Global Hardware Wallet Market is the North America region with a market share of 36.71% in 2020 owing to its legalization policies of cryptocurrencies. United States (US) is the largest contributing country in the region with 53.6% market share, followed by Canada and Mexico. South America and Middle East & Africa regions are growing at the highest rate due to increasing digitization and technological advancements with the launches of new in-house cryptocurrencies in the regions. The swiftly expanding demand for cryptocurrency during the pandemic has swayed the market for the hardware wallets constructively. Cryptocurrencies such as bitcoin are progressively making a transition from uncertain investment tools to payments. Specific awareness to payment habits and the financial life cycle has evolved as the COVID-19 pandemic has led to more calls for dematerialization of payments.
Objective of the Study:
- To analyze and forecast the market size of the Global Hardware Wallet Market.
- To classify and forecast the Global Hardware Wallet Market based on connection type, distribution channel, end-user, company and regional distribution.
- To analyze and forecast the market size, in terms of connection type which are Near Field Communication, USB and Bluetooth.
- To analyze and forecast the market size, in terms of distribution channel which Online and Offline.
- To analyze and forecast the market size, in terms of End-user which are Capital Market, BFSI (Excluding Capital Market), Real Estate and Others (Mobile, Enterprise, etc.).
- To categorize and forecast the Global Hardware Wallet Market by region such as North America, Europe, Asia-Pacific, South America and Middle East & Africa.
- To identify major drivers & challenges for the Global Hardware Wallet Market.
- To identify major trends in the Global Hardware Wallet Market.
- To examine competitive developments such as expansions, new product developments, mergers & acquisitions, etc., in the Global Hardware Wallet Market.
- To conduct pricing analysis for the Global Hardware Wallet Market.
- To identify and analyze the profile of companies operating in the Global Hardware Wallet Market.
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Impact of COVID-19 on Global Hardware Wallet Market
4. Executive Summary
5. Voice of Customer
5.1. Brand Awareness
5.2. Factors Influencing Purchase Decision
5.3. Threats to Consider while Buying
5.4. Selection of Supplier
6. Global Hardware Wallet Market Outlook
6.1. Market Size & Forecast
6.1.1. By Value
6.2. Market Share & Forecast
6.2.1. By Connection Type (Near Field Communication, USB and Bluetooth)
6.2.2. By Distribution Channel (Online and Offline)
6.2.3. By End-User (Capital Market, BFSI (Excluding Capital Market), Real Estate and Others)
6.2.4. By Region (Asia-Pacific, North America, Europe, South America and Middle East & Africa)
6.2.5. By Company, 2020
6.3. Product Market Map
7. North America Hardware Wallet Market Outlook
8. Europe Hardware Wallet Market Outlook
9. Asia-Pacific Hardware Wallet Market Outlook
10. South America Hardware Wallet Market Outlook
11. Middle East & Africa Hardware Wallet Market Outlook
12. Market Dynamics
12.1. Drivers
12.2. Challenges
13. Market Trends & Developments
14. Competitive Landscape
14.1. Ledger SAS
14.2. Satoshi Labs SRO
14.3. CoolBitX Technology Ltd.
14.4. Shift Crypto AG
14.5. BitLox Limited
14.6. Coinkite Inc.
14.7. KeepKey LLC
14.8. Penta Security Systems Inc.
14.9. Sunmi Technology Co. Ltd
14.10. Ellipal Limited
15. Strategic Recommendations
16. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/6wm5c9
