About Cryptocurrency Hardware Wallet
A cryptocurrency pockets is a hardware device, software program application, or provider that maintains the public or non-public keys for cryptocurrency transactions. Safe words. The blessings of a cryptocurrency hardware pockets are as follows: Private Keys are saved private, Pin Encryption improves security, a number of Cryptocurrencies can be saved in the equal wallet, the pockets is immune to pc viruses, and the hardware system is demonstrated
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Cryptocurrency Hardware Wallet market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Ledger SAS (France), Satoshi Labs SRO (Europe), ShapeShift AG (United States), Coinkite Inc. (Canada), CoolbitX Ltd. (United States), SHIFT Cryptosecurity (Switzerland), Penta Security Systems Inc. (Korea), BitLox (Island) and CoolWallet (Taiwan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Keepkey (United States), CryoBit (United States), Trezor (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Cryptocurrency Hardware Wallet market by Type (CPU, GPU, FGPA, ASIC and Others), Application (Professional and Individual) and Region.
On the basis of geography, the market of Cryptocurrency Hardware Wallet has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User, the sub-segment i.e. Banks will boost the Cryptocurrency Hardware Wallet market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Development of new technology during the cryptocurrency sector, helps to promote the Cryptocurrency Hardware Wallet
Market Growth Drivers:
Increasing use of cryptocurrency demand for rises demand for hardware wallet
Challenges:
Increase in concerns towards privacy &security of cryptocurrency
Restraints:
Lack of skilled labour and shortage of raw materials
Opportunities:
High emerging market for cryptocurrency hardware wallet
Market Leaders and their expansionary development strategies
In December 2022, Ledger announced new crypto hardware wallet. Ledger had its two highest demand days ever immediately following the FTX bankruptcy and then November became its best month of sales.
In March 2023, Crypto wallet company Ledger raises another USD 108M. Ledger, designs and manufactures so-called hardware wallets to secure crypto assets. In 2021, the company raised USD356 million (USD385 million at today’s exchange rate). And the company is adding another USD100 million (USD108 million) in new funding.
Key Target Audience
Developer, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.