Hardware Wallet Market Forecasts to 2028 – Global Analysis By Connection Type (Bluetooth, USB), Type (Cold, Hot), Hybrid Setting (Hardware, Human), Attack (Payment, Privacy Loss), End User (Enterprise, Individual) and By Geography
According to Stratistics MRC, the Global Hardware Wallet Market is accounted for $213.78 million in 2020 and is expected to reach $1,465.10 million by 2028 growing at a CAGR of 27.2% during the forecast period. Increasing investments in cryptocurrency and a growing focus on security are the major factors propelling the market growth. However, limited consumer awareness is hampering market growth.
A hardware wallet is a specialized cryptocurrency wallet intended to store user private keys in a secure encrypted hardware device. Consequently, the hardware wallets are meant to enable users to store private keys at a protected area of the microcontroller while protecting confidential information.
Based on the connection type, the near field communication (NFC) segment holds the largest share in the market. NFC technology enables the flexible usage of cryptocurrency by providing means of storage. By utilizing NFC, payment is allowed even if either the payee or payer is not connected to the internet, depending on the type of payment request.
By geography, the Asia Pacific is going to have lucrative growth due to the increasing implementation of cryptocurrency. The region is also innovating NFC hardware wallets, which are also emerging in the global market.
Some of the key players profiled in the Hardware Wallet Market include ARCHOS, BitLox Limited, Coinkite Inc, CoolBitX Technology Ltd, Ellipal Limited, KeepKey LLC, Ledger SAS, OPOLO SARL, Penta Security Systems Inc, Satoshi Labs SRO, ShapeShift, Shift Crypto AG, Sugi, and Sunmi Technology Co Ltd.
Estimated Market Size in 2020:
USD 213.78 million
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 1,465.10 million
Tables, Graphs & Figures
Connection Type, Type, Distribution Channel, Hybrid Setting, Attack, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Connection Types Covered:
• Near Field Communication (NFC)
• Universal Serial Bus (USB)
• Cold Wallet
• Hot Wallet
Distribution Channels Covered:
Hybrid Settings Covered:
• Hardware Protocol
• Human Protocol
• Client Protocol
• Address Generation Attack
• Payment Attack
• Privacy Loss
• Chain Attack
End Users Covered:
• Real Estate
• Banking, Financial Services and Insurance (BFSI)
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Hardware Wallet Market is majorly driven by the increasing investments in cryptocurrency and a growing focus on security.
The online segment is growing at the highest CAGR due to its effortlessness of delivery over a long distance while saving time.
The Asia Pacific dominated with a significant market share due to the increasing trend of the digital and cashless economy.
Asia Pacific market is growing at the highest CAGR owing to the growing adoption of cryptocurrency.
Key players in Hardware Wallet Market include ARCHOS, BitLox Limited, Coinkite Inc, CoolBitX Technology Ltd, Ellipal Limited, KeepKey LLC, Ledger SAS, OPOLO SARL, Penta Security Systems Inc, Satoshi Labs SRO, ShapeShift, Shift Crypto AG, Sugi, and Sunmi Technology Co Ltd.
Select License Type
Best in class reports with high standard of research integrity
24X7 Research Support
Continuous support to ensure the best customer experience.
Adding more values to your product of interest.
Safe & Secure Access
Providing a secured environment for all online transactions.
Trusted by 600+ Brands
Serving the most reputed brands across the world.