“Hardware Wallet Market” research report would be to present the accurate and tactical analysis of the market assets, growing factors, supply, industry size, regional segmentation, dynamics as well as prices variant for its forecast year 2024. The report study provides key statistics on the market status of the Hardware Wallet manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
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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Top Players Are:
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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.
Most of the companies present in the market are efficient at the technological front but require significant support for enhancing their services and expanding their businesses. Thus, mergers and acquisitions offer significant opportunities to gain the attention of a large number of providers across developed regions.
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Detailed TOC of Hardware Wallet Market Report 2020-2024:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Increasing Investments in Cryptocurrency
4.3.2 Rising Focus on Security
4.4 Market Restraints
4.4.1 Regulations against Cryptocurrencies
4.4.2 Limited Consumer Awareness
4.5 Value Chain Analysis
4.6 Industry Attractiveness Porter’s Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers/Consumers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitute Products
4.6.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By Type
5.2.1 North America
5.2.4 Rest of the world
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Ledger SAS
6.1.2 Satoshi Labs SRO
6.1.3 Key Hodlers LLC
6.1.4 Coinkite Inc.
6.1.5 Coolbitx Ltd.
6.1.6 SHIFT Cryptosecurity
6.1.7 Penta Security Systems Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
Name: Ajay More
Organization: Industry Research
Phone: +44 20 3239 8187 / +14242530807
Email: [email protected]
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