The “Hardware Wallet Market” report covers the overview of the market and presents the information on business development, market size, and share scenario. The report also emphasizes on the growth prospects of the global Hardware Wallet market for the period 2020-2024. The report covers market characteristics for each segmentation across the key regions and country and traces the historic and forecast analysis of the industry. The report covers key vendors their revenue, breakdown by regions, and product demand. Other key details include volume, installed capacity, value chain.
Hardware Wallet Market Dynamics: –
- Drivers: (Developing regions and growing markets)
- Limitations: (Regional, Key Player facing Issues, Future Barriers for growth)
- Opportunities: (Regional, Growth Rate, Competitive, Consumption)
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Hardware Wallet Market Segmentation by Top Key Players:
Scope of the Report:
Hardware wallet is a special type of bitcoin wallet, which stores the user’s private keys in a secure hardware device. They have major advantages over standard software wallets:
1) Private keys are often stored in a protected area of a microcontroller, and cannot be transferred out of the device in plaintext.
2) They are immune to computer viruses that steal from software wallets.
3) They can be used securely and interactively; private keys never need to touch any potentially vulnerable software.
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Key Market Trends:
NFC Type to Hold Significant Share
The adoption of cryptocurrencies in real-world stores is progressing slowly, even though it has the potential of being a convenient, fast, and secure way of paying for goods. Cryptocurrencies, such as Bitcoin, can be used in real-world environments in a convenient matter, without requiring a banking license. They can also be used to save merchant money and safeguard the privacy of customers.
By utilizing NFC, payment is allowed even if either the payee or payer is not connected to the Internet, depending on the type of payment request. This scheme is particularly useful for tourists who are not willing to pay high roaming fees or are at places where the Internet reception is unreliable or not present at all.
Similar to Apple, BitPay added NFC support to its PoS (Point of Sale) software, allowing users to pay a bill with the aid of the Android wallet with only a single tap, in 2015. However, in the case of BitPay, NFC is a mere way to transmit the data traditionally provided by a QR-Code, containing the amount, payment address, and a transaction memo. The Android app does not transmit a complete Bitcoin transaction over NFC.
Asia-Pacific Expected to Witness Significant Growth
The region is the fastest-growing market for hardware wallet, owing to the growing adoption of cryptocurrency and the increasing trend of the digital and cashless economy in countries like India, Japan, and South Korea.
Though the ban on digital currency exchange in China can hinder the regional growth, growing digital economy acceptance in the rest of the region, especially in India, Japan, Australia, and South Korea, is developing a massive market for cryptocurrencies in Asia-Pacific.
The country’s security firms are also exploring the possibility of establishing and operating a joint cryptocurrency exchange in Bangkok. These developments indicate a positive approach of the government toward cryptocurrency, and are expected to drive the demand for the market studied in the region.
The report provides key statistics on the market status of the Hardware Wallet Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Hardware Wallet.
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Key Insights of Hardware Wallet Market:
- Complete in-depth analysis of the Hardware Wallet
- Important changes in market dynamics.
- Segmentation analysis of the market.
- Emerging segments and regional markets.
- Historical, on-going, and projected market analysis based on volume and esteem.
- Assessment of niche industry players.
- Market share analysis.
- Key strategies of major players
Hardware Wallet Market Report Covers Following Points in TOC:
- Chapter 1: Hardware Wallet Market Definition
- Chapter 2: Research Methodology of Hardware Wallet Market
- Chapter 3: Hardware Wallet Market Executive Summary
- Chapter 4: Hardware Wallet Market Overview Includes Current Market Scenario, Porter’s Five Forces Analysis, Bargaining Power of Suppliers and Consumers, Threat of New Entrants and Substitute Product and Services
- Chapter 5: Market Dynamics Covers Drivers, Restraints, Opportunities and Challenges
- Chapter 6: Hardware Wallet Market Segmentation by Types, End-User, and Applications Forecast to 2024
- Chapter 7: Hardware Wallet Market Segmentation by Geographical Regions
- Chapter 8: Competitive Landscape of Hardware Wallet Market Includes Mergers & Acquisition Analysis, Agreements, Collaborations, and Partnerships, New Products Launches
- Chapter 9: Key Players for Hardware Wallet Market
Name: Ajay More
Phone: US +14242530807/ UK +44 20 3239 8187
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