May 8, 2020- A recent market intelligence report that is published by Data Insights Partner on the global Cryptocurrency Hardware Wallet Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Cryptocurrency Hardware Wallet Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Cryptocurrency Hardware Wallet Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Cryptocurrency Hardware Wallet Market is offered. In accordance with the report, the global Cryptocurrency Hardware Wallet Market is projected to expand at a CAGR of 72.86% over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
A hardware wallet is a special type of vault that stores cryptocurrency private keys and safe storage of users in a secure hardware device. Via USB, these devices can be easily connected to the computer or smartphone.
Investment in cryptocurrency has risen significantly in the past few years. Many individuals are saving their cryptocurrency with their private key. Thus, ever growing adoption of cryptocurrency is the key driver for the growth of global cryptocurrency hardware market in the forecast period. Hardware Wallets are the safest options as compared to other types of wallets like mobile wallets, paper wallets, desktop wallets or online/web wallets because of its feature of storing private keys on a separate device that functions like a USB thereby providing security. They can be used for online transactions, thereby serving the purpose of an online wallet but with added security of storing large amount of crytocurrency. Cold Storage and lower risk of losing cryptocurrency is drastically lower thereby driving the growth of this market considerably in the forecast period.
However, the major disadvantage of hardware wallets that can hinder the growth of the global cryptocurrency hardware wallet is the cost. As compare to other type of wallets, hardware wallets are comparatively expensive. Also, hardware wallets are less convenient for making on-the-go transactions, however they are more in demand for storing cryptocurrency.
Companies in the region of Asia Pacific are coming up with new products in order to cater this segment, which is further driving the growth of this market. Many manufacturers are designing next level hardware wallets to sustain in the market, thereby having an edge. For e.g. Ledger recently introduced Ledger Nano X, that won the CES Innovation Honoree Award, underlining the innovation it brings to the hardware wallet market.
Segment Covered:
This market intelligence report on the global Cryptocurrency Hardware Wallet Market encompasses market segments based on product type, application and country/regions.
In terms of type, the global Cryptocurrency Hardware Wallet Market is segregated into
- USB Connectivity Type
- Bluetooth Connectivity Type
- NFC Connectivity Type
- Others
By application, the global Cryptocurrency Hardware Wallet Market is also classified into,
- Individual
- Professionals
- Others
By country/region, the global Cryptocurrency Hardware Wallet Market has been divided into
- North America (the U.S., Canada),
- Latin America (Brazil, Mexico, Argentina and other countries),
- Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
- Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
- Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
- Ledger
- Trezor
- Digital Bitbox
- Coinkite
- KeepKey
- Cryobit
- Bitlox
- CoolWallet and many more
Others players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Cryptocurrency Hardware Walletrelated investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Salient Features:
- This study offers comprehensive yet detailed analysis of the Cryptocurrency Hardware WalletMarket, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account 2019 as the base year
- It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
- This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
- Profiling of key market players in the world Cryptocurrency Hardware WalletMarket is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
- Leading market players covered this report comprise names such as Ledger, Cryobit, Digital BitBox, Trezor, CoolWallet, KeepKey, BitLox, Coinkite and many more.
- The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
- The world market for Cryptocurrency Hardware WalletMarket caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Cryptocurrency Hardware WalletMarket. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
- Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
- Reports have been made based on the guidelines as mandated by General Data Protection Regulation
- Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Cryptocurrency Hardware WalletMarket
- Identification of key factors driving investment opportunities in the Cryptocurrency Hardware WalletMarket
- Facilitate decision-making based on strong historic and forecast data
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Develop strategies based on the latest regulatory events
- Identify key partners and business development avenues
- Respond to your competitors’ business structure, strategy and prospects
- Identify key strengths and weaknesses of important market participants
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