Global Hardware Wallet Market is projected to grow at a CAGR of 22.5% during the forecast period 2022-2030

Global Hardware Wallet Market is projected to grow at a CAGR of 22.5% during the forecast period 2022-2030

Hardware Wallet Market is predicted to reach USD 1,449.2 Million at a CAGR of 22.5% during the forecast period:


Market Research Future (MRFR) has published a cooked research report on the “Global Hardware Wallet Market” that contains information from 2018 to 2030. The Hardware Wallet market is estimated to register a CAGR of 22.5% during the forecast period of 2023 to 2030.


MRFR recognizes the following companies as the key players in the global Hardware Wallet market— ARCHOS (France), BitLox (Hong Kong), CoolBitX Technology Ltd. (Taiwan), ELLIPAL Limited (Hong Kong), Ledger SAS (France), OPOLO SARL (Luxembourg), Satoshi Labs SRO (Czech Republic), ShapeShift (US), Shift Crypto AG (Switzerland), Sugi (zSofitto NV) (Belgium), Coinkite Inc. (Canada), SHIFT Cryptosecurity (Switzerland), Penta Security Systems Inc. (South Korea), CoolWallet (China), NGRAVE (Belgium), and SecuX Technology Inc. (Taiwan).


Market Highlights


The global Hardware Wallet market is accounted to register a CAGR of 22.50% during the forecast period and is estimated to reach USD 1,449.2 Million by 2030.


The hardware wallet market involves devices designed to securely store and manage cryptocurrency private keys offline, offering enhanced protection against cyber threats compared to online wallets. These compact devices ensure the safety of digital assets by isolating sensitive information from internet-connected devices, making them a popular choice among cryptocurrency holders.


Segment Analysis


The global Hardware Wallet market has been segmented based on Type, End User and Distribution Channel.


On the basis of Type, the market is segmented into Near-field Communication (NFC), Bluetooth, USB, and Others. USB type is expected to exhibit the fastest CAGR growth during the projected period.


Based on end-user, the global Hardware Wallet market has been segmented into individual and businesses. Individual currently has the greatest market share and is anticipated to grow at the fastest rate throughout the anticipated period. More security-conscious cryptocurrency users or those with important assets to protect prefer hardware wallets.


Based on Distribution Channel, the global Hardware Wallet market has been segmented into online and offline. Online distribution channel is expected to witness fastest CAGR growth during the forecast period.


Regional Analysis


The global Hardware Wallet market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Hardware Wallet market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Hardware Wallet market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Hardware Wallet market comprises of Middle East, Africa, and Latin America.


The Asia-Pacific Hardware Wallet Market dominated this market in 2022 The fastest CAGR growth is anticipated in the Asia-Pacific region over the projection period. The region has seen a large increase in bitcoin transactions, and it is anticipated that this rise will continue within the anticipated time frame. The region has also seen an increase in malware assaults on online wallets, which is a key factor in the anticipated development. Additionally, the region is home to a number of well-known vendors, including Penta Security Systems Inc. (South Korea), CoolWallet (China), BitLox (Hong Kong), CoolBitX Technology Ltd. (Taiwan), ELLIPAL Limited (Hong Kong), and CoolBitX (Taiwan), all of which have seen notable increases in the sales of hardware wallets. The main market growth drivers in the APAC area include nations like China, Japan, India, South Korea, and Australia.


Key Findings of the Study



  • The global Hardware Wallet market is expected to reach USD 1,449.2 Million by 2030, at a CAGR of 22.5% during the forecast period.

  • The Asia-Pacific Hardware Wallet Market dominated this market in 2022 The fastest CAGR growth is anticipated in the Asia-Pacific region over the projection period. The region has seen a large increase in bitcoin transactions, and it is anticipated that this rise will continue within the anticipated time frame.

  • Based on Distribution Channel, Online distribution channel is expected to witness fastest CAGR growth during the forecast period.

  • ARCHOS (France), BitLox (Hong Kong), CoolBitX Technology Ltd. (Taiwan), ELLIPAL Limited (Hong Kong), Ledger SAS (France), OPOLO SARL (Luxembourg), Satoshi Labs SRO (Czech Republic), ShapeShift (US), Shift Crypto AG (Switzerland), Sugi (zSofitto NV) (Belgium), Coinkite Inc. (Canada), SHIFT Cryptosecurity (Switzerland), Penta Security Systems Inc. (South Korea), CoolWallet (China), NGRAVE (Belgium), and SecuX Technology Inc. (Taiwan).

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