Global Crypto Wallet Market
Dublin, Oct. 25, 2023 (GLOBE NEWSWIRE) -- The "Crypto Wallet Market Size, Share and Trend 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 store their private keys securely and use them when making any cryptocurrency transaction. Increasing use of cryptocurrencies for individual and business use, growing demand for greater security in crypto transactions, increasing usage of smartphones, and internet penetration are expected to drive market growth over the forecast period.
Increasing internet penetration and smartphone usage are expected to drive the demand for crypto wallets. Internet users worldwide increased from 4.585 million to 4.901 million from 2020 to 2021. The growing use of the Internet is contributing to the adoption of cryptocurrencies around the world.
Users are increasingly adopting crypto wallets to store, receive and send cryptocurrencies, which are easily accessible and downloadable software. The increasing penetration of smartphones is driving mobile crypto wallet downloads, thereby contributing to the growth of the market.
The integration of crypto wallets into mainstream financial services is gaining momentum. Traditional banks and financial institutions are recognizing the potential of cryptocurrencies and blockchain technology. Consequently, they are exploring partnerships with crypto wallet providers to offer their customers secure access to digital assets.
The COVID-19 pandemic had a positive impact on the crypto wallet industry. In the face of financial extremities and economic crises created due to the pandemic, cryptocurrencies have proven to be more resilient. During this economic downturn, technologically inclined investors sought out cryptocurrencies as a more stable store of value, creating a boom in the cryptocurrency market.
Additionally, rapid digitization and growth in high-speed internet infrastructure driven by the pandemic created an enabling environment for digital currency. All these factors are expected to contribute to the growing crypto wallet market in the future.
Crypto Wallet Market Report Highlights
-
Based on the type of wallet, the cold wallet segment is expected to witness significant growth during the forecast period. With growing concerns over cyber threats and the importance of securing cryptocurrency investments, the demand for cold wallets is expected to increase.
-
Based on the operating system, the Android segment is expected to witness significant growth during 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.
-
According to the application, the remittance segment is expected to register significant growth during the forecast period. Cryptocurrency remittances enable immediate, real-time fund transfers with lower processing fees. Cryptocurrency companies are increasingly offering remittance services to meet the growing demand of cryptocurrency users. The growing demand for cryptocurrencies is expected to drive the growth of the segment.
-
Based on the end user, the individual segment is expected to register significant growth during the forecast period. Global cryptocurrency users increased from 106 million in January 2021 to 295 million in December 2021. The growing demand for cryptocurrencies for trading, storage of value, remittances and payments is expected to drive the growth of the individual segment.
-
Depending on the region, Asia Pacific is expected to emerge as the fastest growing regional market. The region is witnessing a rise in fintech innovation and blockchain-related startups, leading to the development of secure and easy-to-use crypto wallet solutions.
Company profiles
Key topics covered:
Chapter 1 Methodology and Scope
1.1. Research methodology
1.2. Scope and assumptions of the research
1.3. List of data sources
Chapter 2 Executive Summary
2.1. Market Overview
2.2. Segment Snapshot
23. Competitive landscape
Chapter 3 Crypto Wallet Industry Outlook
3.1. Market segmentation and scope
3.2. Crypto Wallet Market: Value Chain Analysis
3.3. Crypto Wallet Market โ Market Dynamics
3.3.1. Analysis of market drivers
3.3.1.1. Increased financial awareness and use of cryptocurrencies.
3.3.1.2. Acceptance of cryptocurrencies by companies
3.3.2. Analysis of the market challenge.
3.3.2.1. Data Privacy and Security Concerns
3.3.3. Analysis of market opportunities
3.3.3.1. Technological advances in crypto wallet
3.4. Crypto Wallet Market: Porter's Five Forces Analysis
3.5. Crypto Wallet Market โ PESTEL Analysis
Chapter 4 Analysis of the investment landscape
4.1. Investor strategies
4.2. Investor vision and objective analysis
4.3. Funding raised by crypto wallet companies
4.4. Investments made in crypto wallets
Chapter 5 Crypto Wallet Type Perspective
5.1. Cryptocurrency share by wallet type, 2022
5.1.1. Global Crypto Wallet Market, by Wallet Type, 2017-2030
5.2. Hot wallets
5.2.1. Trending Crypto Wallet Market, 2017 โ 2030
5.2.1.1. Web-Based Crypto Wallet Market, 2017-2030
5.2.1.2. Mobile Crypto Wallet Market, 2017-2030
5.2.1.3. Desktop Crypto Wallet Market, 2017-2030
5.3. cold wallets
5.3.1. Crypto Cold Wallet Market, 2017-2030
5.3.1.1. Paper Cold Crypto Wallet Market, 2017-2030
5.3.1.2. Hardware Cold Crypto Wallet Market, 2017-2030
Chapter 6 Crypto Wallets OS Outlook
6.1. Crypto wallet share by operating system, 2022
6.1.1. Global Crypto Wallet Market, By Operating System, 2017-2030
6.2. Android
6.3. iOS
6.4. Others
Chapter 7 Crypto Wallets Application Outlook
7.1. Crypto Wallet Market Share by Application, 2022
7.1.1. Global Crypto Wallet Market, By Application, 2017-2030
7.2. Peer-to-peer payments
7.3. Trade
7.4. Consignment
7.5. Others
Chapter 8 End User Perspectives of Crypto Wallets
8.1. Crypto Wallet Share by End User, 2022
8.1.1. Global Crypto Wallet Market, by End User, 2017-2030
8.2. Individual
8.3. Commercial
8.3.1. Crypto Wallet Market by Commercial, 2017-2030
8.3.1.1. Crypto Wallet Market at BFSI, 2017 โ 2030
8.3.1.2. Crypto Wallet Market in Games, 2017-2030
8.3.1.3. Crypto Wallet Market in Government, 2017 โ 2030
8.3.1.4. Crypto Wallet Market in Retail and E-Commerce, 2017-2030
8.3.1.5. Crypto Wallet Market in Media and Entertainment, 2017-2030
8.3.1.6. Crypto Wallet Market in Others, 2017 โ 2030
Chapter 9 Regional Crypto Wallet Outlook
9.1. Crypto Wallet Market Share by Region, 2022
9.1.1. Global Crypto Wallet Market, By Region, 2017-2030
Chapter 10 Competitive Analysis
10.1. Recent developments and impact analysis, by key market participants
10.2. Company Categorization
10.3. Supplier overview
10.3.1. Market share analysis of key companies, 2022
10.4. Company analysis tools
10.4.1. Analysis of the company's market position.
10.4.2. Competitive panel analysis
Chapter 11 Competitive Landscape
11.1. Company Overview
11.2. Financial performance
11.3. Product Benchmarking
11.4. Strategic initiatives
For more information about this report visit https://www.researchandmarkets.com/r/boh44x
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source of market research reports and international market data. We provide you with the latest data on international and regional markets, key industries, top companies, new products and the latest trends.
Attach
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood,Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
