London, UK -- (SBWIRE) -- 11/10/2021 -- Hardware Wallet Market is valued at approximately USD 0.21 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 29.24 % over the forecast period 20212027. Hardware wallets are physical devices that hold cryptocurrency private keys offline in an encrypted device. When spending bitcoins, private keys in these wallets are required, and the wallets allow traders to safely store the keys while preserving the information. The demand for hardware wallets is skyrocketing, according to companies who make them. The demand for wallets is growing in tandem with the number of people who own several cryptocurrencies. The market's growth is being influenced by the flexibility afforded by these solutions when compared to software, web wallets, and paper wallets.

In August 2021, HooFoo, the first app and hardware combination wallet that secures and simplifies cryptocurrency transactions, waslaunched on Indiegogo. The company has developed a safer cold storage Bitcoin wallet for cryptocurrency as a result of the recent many Bitcoin exchange attacks. Furthermore, NEM Group and the NEM ecosystem revealed in February 2021 that Ledger's Nano S and Nano X hardware wallets now support the NEM NIS1 XEM token and will support the XYM token when Symbol by NEM launches. Users may safely hold XEM and XYM assets by owning and securing their private keys with their own hardware wallets, while managing their tokens with the NEM Nano Wallet. NEM Group and the NEM ecosystem also announced in February 2021 that Ledger's Nano S and Nano X hardware wallets now support the NEM NIS1 XEM token and will support the XYM token when Symbol by NEM launches. By owning and safeguarding their private keys with personal own hardware wallets, users may safely hold XEM and XYM assets while utilising the NEM Nano Wallet to manage their tokens.

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Key Company profiles included in this report are:

ARCHOS
BitLox
CoolBitX Technology Ltd.
ELLIPAL Limited
Ledger SAS
OPOLO SARL
Satoshi Labs SRO
ShapeShift
Shift Crypto AG
Sugi (Sofitto NV).

The market analysis looks at the worldwide Hardware Wallet market and considers all of the major trends. After reading the research, the user will be able to comprehend and gain insight into the current and future market position. To provide comprehensive information on the global situation, the market is thoroughly examined by geography. The qualitative and quantitative data in this report can help consumers understand which market segments, geographies, and driving variables, as well as important potential areas, are expected to grow at faster rates. The study also includes a competitive landscape of key industry players as well as emerging market trends. An in-depth examination of the market dynamics.

After reading the research report, the user will be able to comprehend and gain insight into the current and future market position. The study also includes a competitive landscape of main industry players as well as market trends in development. New trade rules, market size, regional and segment market share, product/service releases, product pipeline analysis, the influence of Covid-19 on key regions, untapped markets, constant innovations, and advances in the Hardware Wallet industry are all included in this report.

Hardware Wallet Market Segmentation Listed Below:

By type:
USB
NFC
Bluetooth

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COVID-19 Impact Analysis

The market trends influenced as COVID-19 expanded throughout different geographies, according to this section of the research report. This portion of the Hardware Wallet market study compiles information from across the industry to see how people have reacted to lockdown. It looks at the impact of the outbreak on industry employees as well as interruption in various places and countries. This section of the research forecasts how the economy will recover, as well as how the corporate environment will shift.

Competitive Outlook

The Hardware Wallet market report covers the company profile, which includes product portfolio, business overview, governance, financials, business strategies, manufacturing locations and production facilities, company sale, recent developments and strategic collaborations & partnerships, new product launch, company segments, application diversification, and company strength and weakness analysis.

Reasons to Purchase Market Research Report

-The market study includes a full historical, current, and projected analysis to gain a thorough understanding of market dynamics.
-The market dynamics, revenue analysis, market drivers, and development factors are all covered in great detail in the study report.
-A complete assessment of prospective trends as well as profitable growth opportunities is included in the Hardware Wallet market study.

Table of Contents -Major Key Points

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2027 (USD Billion)
1.2.1. Hardware Wallet Market, by region, 2019-2027 (USD Billion)
1.2.2. Hardware Wallet Market, by Type, 2019-2027 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Hardware Wallet Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Hardware Wallet Market Dynamics
3.1. Hardware Wallet Market Impact Analysis (2019-2027)
3.1.1. Market Drivers
3.1.1.1. Increasing investments in cryptocurrency
3.1.1.2. Rising focus on security
3.1.2. Market Restraint
3.1.2.1. Regulations against cryptocurrencies
3.1.3. Market Opportunities
3.1.3.1. Growing attention to payment habits and the financial life cycle

Chapter 4. Global Hardware Wallet Market Industry Analysis
4.1. Porter's 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2027)
4.2. PEST Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.3. Investment Adoption Model
4.4. Analyst Recommendation & Conclusion

Chapter 5. Global Hardware Wallet Market, by Type

Chapter 6. Global Hardware Wallet Market, Regional Analysis

Chapter 7. Competitive Intelligence

Chapter 8. Research Process

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