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The global hardware wallet market was valued at US$ 251.6 Million in 2021.
We expect the global hardware wallet market to exhibit a CAGR of 27.20% during 2022-2027.
The growing utilization of hardware wallet as a high-security cryptocurrency wallet, providing users
access to a private key for purchasing and trading crypto assets, is currently driving the global hardware
The sudden outbreak of the COVID-19 pandemic has led to the rising adoption for hardware wallet,
owing to the increasing online purchase, sale, and trade of numerous cryptocurrencies, such as Bitcoin,
Ethereum, Cardano, etc., especially during the lockdown period.
Based on the type, the global hardware wallet market has been segmented into hot wallet and cold
wallet. Currently, hot wallet holds the majority of the total market share.
Based on the connection type, the global hardware wallet market can be divided into Near-field
Communication (NFC), Bluetooth, and USB. Among these, USB exhibits a clear dominance in the market.
Based on the distribution channel, the global hardware wallet market has been categorized into online
and offline, where online channel currently accounts for the majority of the global market share.
Based on the end user, the global hardware wallet market can be segregated into commercial and
individual. Currently, individual holds the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global hardware wallet market include Archos, BitLox Limited, Coinkite
Inc., CoolBitX, ELLIPAL Limited, Ledger SAS, OPOLO SARL, Penta Security Systems Inc., SatoshiLabs s.r.o.,
ShapeShift, Shift Crypto AG, and Sugi (Sofitto NV).
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