Global Crypto Wallet Market
Dublin, 25 Oct. 2023 (GLOBE NEWSWIRE) — The “Crypto Wallet Market Size, Share and Trends Analysis Report by Wallet Type (Hot Wallets, Cold Wallets), by Operating System (Android, iOS), by Application, by End User, by Region and segment forecasts, 2023 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global crypto wallet market size is expected to reach $48.27 billion by 2030, growing at a CAGR of 24.8% from 2023 to 2030
Crypto wallets help users to securely store their private keys and use them while conducting any transactions in cryptocurrency. The increasing use of cryptocurrency for individual and commercial use, the growing demand for enhanced security in crypto transactions, the growing use of smartphones and internet penetration are expected to drive the growth of the market over the forecast period.
The growing internet penetration and smartphone usage is expected to fuel the demand for crypto wallets. Internet users worldwide increased from 4,585 million to 4,901 million from 2020 to 2021. The increasing internet usage is contributing to the adoption of cryptocurrencies around the world.
Users are increasingly adopting crypto wallets to store, receive and send cryptocurrency, which is easily accessible and downloadable software. The increasing smartphone penetration is driving the download of mobile crypto wallets, thereby contributing to the market’s growth.
The integration of crypto wallets into mainstream financial services is gaining momentum. Traditional banks and financial institutions recognize the potential of cryptocurrencies and blockchain technology. As a result, they are exploring partnerships with crypto wallet providers to provide their customers with secure access to digital assets.
The COVID-19 pandemic has had a positive impact on the crypto wallet industry. In the face of financial extremes and economic collapses created as a result of the pandemic, cryptocurrencies have proven more resilient. During this economic downturn, tech-inclined investors sought out cryptocurrencies as a steadier store of value, creating a boom in the cryptocurrency market.
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Additionally, the rapid digitization and high-speed internet infrastructure growth fueled by the pandemic has created a rich environment for digital currency. All these factors are expected to contribute to the growing market for crypto wallets in the future.
Crypto Wallet Market Report Highlights
Based on wallet type, the cold wallet segment is expected to witness significant growth over the forecast period. With the growing concern about cyber threats and the importance of securing cryptocurrency investments, the demand for cold wallets is expected to rise
Based on the operating system, the Android segment is expected to witness significant growth over the forecast period. The flexibility of the Android ecosystem has made it easier for users to access and manage their cryptocurrency holdings. Android crypto wallet apps are available through various app stores and can be easily downloaded and installed on smartphones and tablets
On the basis of application, the remittance segment is expected to register significant growth over the forecast period. Cryptocurrency remittance enables instant fund transfers in real time at lower processing fees. Cryptocurrency companies are increasingly offering remittance services to meet the growing demand of cryptocurrency users. The increasing demand for cryptocurrencies is expected to fuel the segment’s growth
On the basis of end-user, the individual segment is expected to register significant growth over the forecast period. The global cryptocurrency users increased from 106 million in January 2021 to 295 million in December 2021. The increasing demand for cryptocurrencies for trading, value storage, remittances and payments is expected to drive the growth of the individual segment.
On the basis of region, Asia Pacific is expected to emerge as the fastest growing regional market. The region is witnessing a surge in fintech innovation and blockchain-related startups, leading to the development of user-friendly and secure crypto-wallet solutions.
Company profiles
Key topics covered:
Chapter 1 Methodology and Scope 1.1. Research methodology1.2. Research scope and assumptions1.3. List of data sources
Chapter 2 Executive Summary2.1. Market cookie 2.2. Segment Snapshot2.3. Competitive Landscape Snapshot
Chapter 3 Crypto Wallet Industry Outlook3.1. Market segmentation and scope3.2. Crypto Wallet Market- Value Chain Analysis 3.3. Crypto Wallet Market – Market Dynamics3.3.1. Market Driver Analysis3.3.1.1. Increasing financial awareness and use of cryptocurrency3.3.1.2. Acceptance of cryptocurrencies by businesses3.3.2. Market Challenge Analysis3.3.2.1. Data privacy and security concerns3.3.3. Market opportunity analysis3.3.3.1. Technological Advances in Crypto Wallet3.4. Crypto Wallet Market – Porter’s Five Forces Analysis3.5. Crypto Wallet Market – PESTEL Analysis
Chapter 4 Investment landscape analysis4.1. Investor strategies4.2. Investor Vision and Objective Analysis 4.3. Funding Raised by Crypto Wallet Companies4.4. Investments made in Crypto Wallets
Chapter 5 Crypto Wallet Type Outlook5.1. Crypto Wallet Share by Wallet Type, 20225.1.1. Global Crypto Wallet Market, By Wallet Type, 2017 – 20305.2. Hot wallets5.2.1. Hot Crypto Wallet Market, 2017 – 20305.2.1.1. Web Based Hot Crypto Wallet Market, 2017 – 20305.2.1.2. Mobile Hot Crypto Wallet Market, 2017 – 20305.2.1.3. Desktop hot crypto wallets market, 2017 – 20305.3. Cold wallets5.3.1. Cold crypto wallets market, 2017 – 20305.3.1.1. Paper cold crypto wallets market, 2017 – 20305.3.1.2. Hardware cold crypto wallet market, 2017 – 2030
Chapter 6 Crypto Wallets Operating System Outlook6.1. Crypto Wallet Share by OS, 20226.1.1. Global Crypto Wallet Market, By Operating System, 2017 – 20306.2. Android6.3. iOS6.4. Other
Chapter 7 Crypto Wallets App Outlook7.1. Crypto Wallet Market Share by Application, 20227.1.1. Global Crypto Wallet Market, By Application, 2017 – 20307.2. Peer-to-Peer Payments7.3. Trading 7.4. Remittance7.5. Other
Chapter 8 Crypto Wallets End User Outlook8.1. Crypto Wallet Share by End User, 20228.1.1. Global Crypto Wallet Market, By End User, 2017 – 20308.2. Individual8.3. Commercial 8.3.1. Crypto wallet market by commercial, 2017 – 20308.3.1.1. Crypto wallet market in BFSI, 2017 – 20308.3.1.2. Crypto wallet market in games, 2017 – 20308.3.1.3. Crypto wallet market in government, 2017 – 20308.3.1.4. Crypto wallet market in retail and e-commerce, 2017 – 20308.3.1.5. Crypto wallet market in media and entertainment, 2017 – 20308.3.1.6. Crypto wallet market in others, 2017 – 2030
Chapter 9 Crypto Wallet Regional Outlook9.1. Crypto Wallet Market Share by Region, 20229.1.1. Global Crypto Wallet Market, by Region, 2017 – 2030
Chapter 10 Competitive Analysis10.1. Recent developments and impact analysis, by key market participants10.2. Company categorization10.3. Vendor Landscape10.3.1. Key company market share analysis, 202210.4. Company Analysis Tools10.4.1. Company Market Position Analysis10.4.2. Competitive dashboard analysis
Chapter 11 Competitive landscape11.1. Company Overview11.2. Financial performance 11.3. Product benchmarking11.4. Strategic initiatives
For more information on this report visit https://www.researchandmarkets.com/r/boh44x
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