NEW YORK, Nov. 14, 2022 /PRNewswire/ -- The "Crypto Wallet Market by Service and Geography - Forecast and Analysis 2022-2026" report has been added to Technavio's offering. The report expects the market size to grow by USD 686.05 million, accelerating at a CAGR of 24.19% during the forecast period. The report offers a comprehensive analysis of the drivers, trends, and challenges impacting the size of the market. Discover market potential and make informed business decisions based on qualitative and quantitative evidences highlighted exclusively in this market study. Download a Free Sample Report
Global Crypto Wallet Market: Market Dynamics
- Driver: The market is driven by people's inclination toward digital currency. Despite doubts about the unregulated digital asset future, cryptocurrency usage has increased in India. Since 2020, investments in cryptocurrencies, particularly Bitcoin, have risen at an astounding rate in India. Millions of ordinary investors have registered on several domestic cryptocurrency exchanges to invest in cryptocurrencies, a class of investments recognized for its legendary volatility and potential for large profits. By August 2021, at least 1.5 crore Indians had made cryptocurrency investments, indicating a significant increase in the number of households using cryptocurrencies in a country where families are known to invest more regularly in gold and other safe assets. This inclination toward digital currencies is expected to continue during the forecast period, which is expected to drive the growth of the market in focus.
- Trend: The increasing availability of crypto wallets is the major trend in the market. It has become abundantly clear over the last few years that those who continue to invest in digital currencies have a lot of potential and areas for possible rewards. For most people, keeping and investing in cryptocurrency in a crypto wallet is also a respectable option. According to a recent study, 82 cryptocurrency wallets were accessible in February 2021. In March 2022, over 81 million people used Blockchain.com wallets, which made it easy to purchase Bitcoin. Hence, the availability of numerous crypto wallets is expected to contribute to the growth of the global crypto wallet market during the forecast period.
- Challenge: The misuse and security attacks that confine the adoption of cryptocurrencies will challenge the growth of the market. Various regulators are concerned about the growing misuse of digital currencies by criminals for unlawful operations as they are an unregulated, decentralized, and uncontrolled exchange platform. Criminals use digital currency to carry out numerous illegal operations, including tax evasion, money laundering, and terrorism financing. Additionally, rising security issues and cyberattacks resulted in the loss of the invested currencies, limiting the adoption of cryptocurrencies. All these factors will reduce the growth potential in the market.
Get highlights into the impact of drivers, trends, and challenges on the growth of the global crypto wallet market. Download a Free Sample Report
Global Crypto Wallet Market: Key Segments
By product, the market is analyzed across software-based and hardware-based segments. The market growth will be significant in the software-based crypto wallet segment. The software-based segment growth can be attributed to how simple it is to use, as software-based wallets operate online. It functions as a browser plugin, making it simple for users to interact with things like decentralized applications and decentralized finance (DeFi) protocols. Additionally, software-based wallets are connected with public and private keys, which aid in transactions and serve as a security safeguard. As a result, users are increasingly using software-based wallets, which is driving the growth of the segment.
Companies Covered
- ARCHOS SA
- Binance Services Holdings Ltd.
- BitGo Inc.
- BitLox Ltd.
- BitPay Inc.
- Bittrex Global GmbH
- Breadwinner AG
- Coinkite Inc.
- CoolBitX Ltd.
- ELLIPAL Ltd.
- Exodus Movement Inc.
- Gemini Trust Co. LLC
- iFinex Inc.
- Ledger SAS
- OPOLO Sarl
- SecuX Technology Inc.
- ShapeShift AG
- Shift Crypto AG
- Sofitto NV
- Trezor Company sro
- Gain access to more vendor profiles available with Technavio. Buy Now
Technavio's library includes over 17,000+ reports covering more than 2,000 emerging technologies. Subscribe to our "Basic Plan" at just USD 5,000 and get lifetime access to our Technavio Insights
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2021, 2022, till 2026
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Crypto Wallet Market 2022-2026: Key Highlights
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist in crypto wallet market growth during the next five years
- Estimation of the crypto wallet market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the crypto wallet market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the crypto wallet market vendors
Related Reports:
- The Cryptocurrency Mining Hardware Market share is expected to increase by USD 9.21 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 9.75%. The profitability of cryptocurrency mining ventures is notably driving the cryptocurrency mining hardware market growth, although factors such as volatility in the value of cryptocurrency may impede market growth.
- The ASIC Miner Market is projected to grow by USD 125.57 million with a CAGR of 6.74% during the forecast period 2021 to 2026. The profitability of cryptocurrency mining ventures is notably driving the market's growth. However, volatility in the value of cryptocurrencies will challenge the growth of the market.
Crypto Wallet Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 24.19% |
Market growth 2022-2026 |
USD 686.05 million |
Market structure |
Fragmented |
YoY growth (%) |
16.23 |
Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution |
North America at 41% |
Key consumer countries |
US, China, UK, Germany, and Switzerland |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ARCHOS SA, Binance Services Holdings Ltd., BitGo Inc., BitLox Ltd., BitPay Inc., Bittrex Global GmbH, Breadwinner AG, Coinkite Inc., CoolBitX Ltd., ELLIPAL Ltd., Exodus Movement Inc., Gemini Trust Co. LLC, iFinex Inc., Ledger SAS, OPOLO Sarl, SecuX Technology Inc., ShapeShift AG, Shift Crypto AG, Sofitto NV, and Trezor Company sro |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Incremental Growth
- Exhibit 07: Executive Summary – Data Table on Incremental Growth
- Exhibit 08: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 09: Parent market
- Exhibit 10: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 11: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 12: Market segments
- 3.3 Market size 2021
- 3.4 Market outlook: Forecast for 2021-2026
- Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)
4 Five Forces Analysis
- 4.1 Five forces summary
- Exhibit 17: Five forces analysis - Comparison between 2021 and 2026
- 4.2 Bargaining power of buyers
- Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
- 4.3 Bargaining power of suppliers
- Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
- 4.4 Threat of new entrants
- Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
- 4.5 Threat of substitutes
- Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
- 4.6 Threat of rivalry
- Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
- 4.7 Market condition
- Exhibit 23: Chart on Market condition - Five forces 2021 and 2026
5 Market Segmentation by Product
- 5.1 Market segments
- Exhibit 24: Chart on Product - Market share 2021-2026 (%)
- Exhibit 25: Data Table on Product - Market share 2021-2026 (%)
- 5.2 Comparison by Product
- Exhibit 26: Chart on Comparison by Product
- Exhibit 27: Data Table on Comparison by Product
- 5.3 Software-based - Market size and forecast 2021-2026
- Exhibit 28: Chart on Software-based - Market size and forecast 2021-2026 ($ million)
- Exhibit 29: Data Table on Software-based - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Chart on Software-based - Year-over-year growth 2021-2026 (%)
- Exhibit 31: Data Table on Software-based - Year-over-year growth 2021-2026 (%)
- 5.4 Hardware-based - Market size and forecast 2021-2026
- Exhibit 32: Chart on Hardware-based - Market size and forecast 2021-2026 ($ million)
- Exhibit 33: Data Table on Hardware-based - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Chart on Hardware-based - Year-over-year growth 2021-2026 (%)
- Exhibit 35: Data Table on Hardware-based - Year-over-year growth 2021-2026 (%)
- 5.5 Market opportunity by Product
- Exhibit 36: Market opportunity by Product ($ million)
6 Customer Landscape
- 6.1 Customer landscape overview
- Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
7 Geographic Landscape
- 7.1 Geographic segmentation
- Exhibit 38: Chart on Market share by geography 2021-2026 (%)
- Exhibit 39: Data Table on Market share by geography 2021-2026 (%)
- 7.2 Geographic comparison
- Exhibit 40: Chart on Geographic comparison
- Exhibit 41: Data Table on Geographic comparison
- 7.3 North America - Market size and forecast 2021-2026
- Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)
- 7.4 Europe - Market size and forecast 2021-2026
- Exhibit 46: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Europe - Year-over-year growth 2021-2026 (%)
- 7.5 APAC - Market size and forecast 2021-2026
- Exhibit 50: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 51: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 52: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 53: Data Table on APAC - Year-over-year growth 2021-2026 (%)
- 7.6 South America - Market size and forecast 2021-2026
- Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)
- 7.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- 7.8 US - Market size and forecast 2021-2026
- Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)
- 7.9 UK - Market size and forecast 2021-2026
- Exhibit 66: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 67: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 68: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 69: Data Table on UK - Year-over-year growth 2021-2026 (%)
- 7.10 China - Market size and forecast 2021-2026
- Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
- 7.11 Germany - Market size and forecast 2021-2026
- Exhibit 74: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 75: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 76: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 77: Data Table on Germany - Year-over-year growth 2021-2026 (%)
- 7.12 Switzerland - Market size and forecast 2021-2026
- Exhibit 78: Chart on Switzerland - Market size and forecast 2021-2026 ($ million)
- Exhibit 79: Data Table on Switzerland - Market size and forecast 2021-2026 ($ million)
- Exhibit 80: Chart on Switzerland - Year-over-year growth 2021-2026 (%)
- Exhibit 81: Data Table on Switzerland - Year-over-year growth 2021-2026 (%)
- 7.13 Market opportunity by geography
- Exhibit 82: Market opportunity by geography ($ million)
8 Drivers, Challenges, and Trends
- 8.1 Market drivers
- 8.2 Market challenges
- 8.3 Impact of drivers and challenges
- Exhibit 83: Impact of drivers and challenges in 2021 and 2026
- 8.4 Market trends
9 Vendor Landscape
- 9.1 Overview
- 9.2 Vendor landscape
- Exhibit 84: Overview on Criticality of inputs and Factors of differentiation
- 9.3 Landscape disruption
- Exhibit 85: Overview on factors of disruption
- 9.4 Industry risks
- Exhibit 86: Impact of key risks on business
10 Vendor Analysis
- 10.1 Vendors covered
- Exhibit 87: Vendors covered
- 10.2 Market positioning of vendors
- Exhibit 88: Matrix on vendor position and classification
- 10.3 ARCHOS SA
- Exhibit 89: ARCHOS SA - Overview
- Exhibit 90: ARCHOS SA - Business segments
- Exhibit 91: ARCHOS SA - Key news
- Exhibit 92: ARCHOS SA - Key offerings
- Exhibit 93: ARCHOS SA - Segment focus
- 10.4 BitLox Ltd.
- Exhibit 94: BitLox Ltd. - Overview
- Exhibit 95: BitLox Ltd. - Product / Service
- Exhibit 96: BitLox Ltd. - Key offerings
- 10.5 CoolBitX Ltd.
- Exhibit 97: CoolBitX Ltd. - Overview
- Exhibit 98: CoolBitX Ltd. - Product / Service
- Exhibit 99: CoolBitX Ltd. - Key offerings
- 10.6 ELLIPAL Ltd.
- Exhibit 100: ELLIPAL Ltd. - Overview
- Exhibit 101: ELLIPAL Ltd. - Product / Service
- Exhibit 102: ELLIPAL Ltd. - Key offerings
- 10.7 Ledger SAS
- Exhibit 103: Ledger SAS - Overview
- Exhibit 104: Ledger SAS - Product / Service
- Exhibit 105: Ledger SAS - Key offerings
- 10.8 OPOLO Sarl
- Exhibit 106: OPOLO Sarl - Overview
- Exhibit 107: OPOLO Sarl - Product / Service
- Exhibit 108: OPOLO Sarl - Key offerings
- 10.9 ShapeShift AG
- Exhibit 109: ShapeShift AG - Overview
- Exhibit 110: ShapeShift AG - Product / Service
- Exhibit 111: ShapeShift AG - Key offerings
- 10.10 Shift Crypto AG
- Exhibit 112: Shift Crypto AG - Overview
- Exhibit 113: Shift Crypto AG - Product / Service
- Exhibit 114: Shift Crypto AG - Key offerings
- 10.11 Sofitto NV
- Exhibit 115: Sofitto NV - Overview
- Exhibit 116: Sofitto NV - Product / Service
- Exhibit 117: Sofitto NV - Key offerings
- 10.12 Trezor Company sro
- Exhibit 118: Trezor Company sro - Overview
- Exhibit 119: Trezor Company sro - Product / Service
- Exhibit 120: Trezor Company sro - Key offerings
11 Appendix
- 11.1 Scope of the report
- 11.2 Inclusions and exclusions checklist
- Exhibit 121: Inclusions checklist
- Exhibit 122: Exclusions checklist
- 11.3 Currency conversion rates for US$
- Exhibit 123: Currency conversion rates for US$
- 11.4 Research methodology
- Exhibit 124: Research methodology
- Exhibit 125: Validation techniques employed for market sizing
- Exhibit 126: Information sources
- 11.5 List of abbreviations
- Exhibit 127: List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
![](https://rt.prnewswire.com/rt.gif?NewsItemId=CG32446&Transmission_Id=202211140200PR_NEWS_USPR_____CG32446&DateId=20221114)
Share this article