Global Crypto Wallet (Hot, Cold) Market Research Report 2023-2030: Increased Flexibility and Accessibility Bolster Growth Prospects

DUBLIN, Oct. 31, 2023 /PRNewswire/ -- The "Crypto Wallet Market Size, Share & Trends 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 USD 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 while carrying out any transactions in cryptocurrency. The increasing use of cryptocurrency for individual and commercial use, the growing demand for enhanced security in crypto transactions, the expanding use of smartphones, and internet penetration are expected to drive the growth of the market over the forecast period.

The growing internet penetration and smartphone usage are expected to fuel the demand for crypto wallets. Internet users worldwide increased from 4, 585 million to 4, 901 million from 2020 to 2021. The increasing internet usage is contributing to the adoption of cryptocurrencies across the globe.

Users are increasingly adopting crypto wallets to store, receive, and send cryptocurrency, which is easily accessible, and downloadable software. The increasing smartphone penetration is driving mobile crypto wallet downloads, thereby contributing to the market's growth.

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 meltdowns created due to the pandemic, cryptocurrencies have proved more resilient. During this economic downturn, technologically inclined investors sought cryptocurrencies as a steadier store of value, which created a boom in the cryptocurrency market.

Moreover, the rapid digitization and high-speed internet infrastructure growth fueled by the pandemic created a rich environment for digital currency. All these factors are expected to contribute to the growing market for crypto wallets in the future.

Crypto Wallet Market Report Highlights

• Based on wallet type, the cold wallets segment is expected to witness significant growth over the forecast period. With the growing concerns over cyber threats and the importance of securing cryptocurrency investments, the demand for cold wallets is expected to surge
• Based on operating system, the Android segment is expected to witness significant growth over 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
• Based on application, the remittance segment is expected to register significant growth over the forecast period. Cryptocurrency remittance enables immediate fund transfers in real-time at lower processing fees. Cryptocurrency companies are increasingly offering remittance services to cater to the growing demand from cryptocurrency users. The increasing demand for cryptocurrency is expected to fuel the segment's growth
• Based on end-user, the individual segment is expected to register significant growth over the forecast period. The global cryptocurrency users increased from 106 million in January 2021 to 295 million in December 2021. The increasing demand for cryptocurrencies for trading, store of value, remittance, and payments is expected to drive the growth of the individual segment.
• Based on region, the Asia Pacific is anticipated to emerge as the fastest-growing regional market. The region is witnessing a surge in fintech innovation and blockchain-related startups, leading to the development of user-friendly and secure crypto wallet solutions.

Company Profiles

• Coinbase Global, Inc.
• Bitgo
• Binance
• Bitpay
• Satoshilabs S.R.O.(Trezor)
• Ledger Sas
• Blockfi Inc.
• Exodus Movement, Inc.
• Zengo Ltd
• Crypto.Com
• Blockchain.Com, Inc.

Key Topics Covered:

Chapter 1 Methodology and Scope

1.1. Research Methodology

1.2. Research Scope and Assumptions

1.3. List of Data Sources

Chapter 2 Executive Summary

2.1. Market Snapshot

2.2. Segment Snapshot

2.3. Competitive Landscape Snapshot

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 - Market Dynamics

3.3.1. Market driver analysis

3.3.1.1. Increasing financial awareness and use of cryptocurrency

3.3.1.2. Acceptance of cryptocurrencies by businesses

3.3.2. Market challenge analysis

3.3.2.1. Data privacy and security concerns

3.3.3. Market opportunity analysis

3.3.3.1. Technological advances in crypto wallet

3.4. Crypto Wallet Market - Porter's Five Forces Analysis

3.5. Crypto Wallet Market - PESTEL Analysis

Chapter 4 Investment Landscape Analysis

4.1. Investor Strategies

4.2. Investor Vision & Goal Analysis

4.3. Funding Raised by Crypto Wallet Companies

4.4. Investments Made in Crypto Wallets

Chapter 5 Crypto Wallet Type Outlook

5.1. Crypto Wallet Share By Wallet Type, 2022

5.1.1. Global crypto wallet market, by wallet type, 2017 - 2030

5.2. Hot Wallets

5.2.1. Hot crypto wallets market, 2017 - 2030

5.2.1.1. Web-based hot crypto wallets market, 2017 - 2030

5.2.1.2. Mobile hot crypto wallets market, 2017 - 2030

5.2.1.3. Desktop hot crypto wallets market, 2017 - 2030

5.3. Cold Wallets

5.3.1. Cold crypto wallets market, 2017 - 2030

5.3.1.1. Paper cold crypto wallets market, 2017 - 2030

5.3.1.2. Hardware cold crypto wallets market, 2017 - 2030

Chapter 6 Crypto Wallets Operating System 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. Trading

7.4. Remittance

7.5. Others

Chapter 8 Crypto Wallets End-user Outlook

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 in BFSI, 2017 - 2030

8.3.1.2. Crypto wallet market in gaming, 2017 - 2030

8.3.1.3. Crypto wallet market in government, 2017 - 2030

8.3.1.4. Crypto wallet market in retail & e-commerce, 2017 - 2030

8.3.1.5. Crypto wallet market in media & entertainment, 2017 - 2030

8.3.1.6. Crypto wallet market in others, 2017 - 2030

Chapter 9 Crypto Wallet Regional 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. Vendor Landscape

10.3.1. Key company market share analysis, 2022

10.4. Company Analysis Tools

10.4.1. Company market position analysis

10.4.2. Competitive dashboard 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/sn2xol

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