Cryptocurrency Hardware Wallet Market Analysis by Growth Factors, Regions, Competition and Forecast to 2025

Cryptocurrency Hardware Wallet Market

Cryptocurrency is one of the trending topics, and is currency of the future. It is extensively growing with new technologies and advanced security. The terms Bitcoin, Hardware wallet, Ripple, Ethereum are all associated with the cryptocurrency. A cryptocurrency hardware wallet is a physical device and is used to store private keys in a secure area inside the device. These wallets permit the traders to store the keys safely and also protect the information from malware. Ledger Nano S is one of the most popular cryptocurrency hardware wallet, which stores the private keys in a secure manner and transactions are done inside the device. Ledger Nano S supports Litecoin, Bitcoin, Ethereum, Zcash, Ripple, Dash and many other altcoins.


Market Growth Factors:

Cryptocurrency hardware wallet market is growing tremendously as it is one of the trending topic. The major growing factors for the growth of this market are increase in adoption of cryptocurrency hardware wallet by number of industries and the information stored in wallet are more secure. One of the important advantage is that the hardware wallets can hold multiple cryptocurrencies. The hardware used is unaffected by the computer viruses, and private keys are no more exposed to the computer and they are stored offline. One more driver for the growth of the market is long term storage is possible, and is advantage for the hardware wallet.

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Regional analysis :

According to the regional analysis of cryptocurrency hardware wallet market it is split into number of regions like-

• North America
  o US
  o Canada
  o Mexico
• Europe
  o UK
  o Germany
  o France
  o Italy
  o Spain
  o Rest of Europe
• Asia-Pacific
  o China
  o India
  o Japan
  o Australia
  o South Korea
  o Rest of Asia-Pacific

APAC region is predicted to hold the largest market share due to the increasing demand for cryptocurrency hardware wallet.


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Competitive Analysis:

Cryptocurrency hardware wallet market has different competitors. The key vendors of this market are-

  • Ledger
  • Giza
  • Hoofoo Inc.
  • Wisekey
  • and others.

SPI Energy announces a partnership with Cryptocurrency Hardware Wallet Company named Hoofoo Inc. New product development, acquisition, and expansion are key strategies adopted by the major players to strengthen the growth of market.


Latest news:

  • Cardano Integrates Ledger Hardware Wallet to Enhance Security

On February 1, 2018 the Cardano Foundation has announced that it is integrating Ledger hardware wallet devices in its atmosphere to enhance it’s security features.

  • GIZA Device Seeks to Develop a Next-Gen Multipurpose Hardware Wallet for Cryptocurrencies

ON January 23, 2018 GIZA aim to introduce a multi-purpose hardware cryptocurrency wallet with extra safety features.


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