BANGALORE, India, July 17, 2019 /PRNewswire/ -- A hardware wallet is a physical vault designed to offer safe storage for your cryptocurrency private keys. These specially-designed hard drives usually connect to your computer or smartphone via USB. Because you keep them offline, they provide cold storage for your coins and tokens.
In 2018, the global Cryptocurrency Hardware Wallet market size was 100 million US$ and it is expected to reach 15100 million US$ by the end of 2025, with a CAGR of 88.1% during 2019-2025.
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Based on regions, most of the hardware wallet vendors are distributed in North America and Europe. In 2018, total USA cryptocurrency hardware wallet market size is estimated to be 73.91 Million USD, which is forecast to reach 4188.72 million USD by the end of 2025, growing at a CAGR of 90.87%.
Total Europe cryptocurrency hardware wallet market size is estimated to be 77.54 Million USD, and the market is forecast to reach 4703.23 million USD by the end of 2025, growing at a CAGR of 92.27%.
APAC is expected to experience a relatively low development phase, especially for the China, while market in Japan and India, Southeast Asia countries may keep growing in the forecast period. With the consumption of devices surging, companies in Asia-pacific region are coming up with new products to cater this segment, which is further driving the growth of the market.
The increasing prominence of hardware wallets coincided with cryptocurrencies growing popularity. In an analysis, it has been forecasted that ever-expanding cryptocurrency adoption inroads would be prominent drivers for hardware wallet market development in the United States and South Korea.
A recent survey has revealed that cryptocurrency investments has risen from 18 billion dollars in January 2017 to over 800 billion dollars in January 2018. With this increase in investment, individuals began to save their cryptocurrency with their private keys from return.
As such, specialists and novices have flourished quickly in the hardware wallet sector to provide a rationalized way for safe storage of crypto-assets offline.
This report focuses on the global Cryptocurrency Hardware Wallet status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cryptocurrency Hardware Wallet development in United States, Europe and China.
The key players covered in this study
- Digital BitBox
Market segment by Type, the product can be split into
- USB Connectivity Type
- Bluetooth Connectivity Type
- NFC Connectivity
Market segment by Application, split into
Market segment by Regions/Countries, this report covers
- United States
- Southeast Asia
- Central & South America
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