Online distribution channel to Lead United States Hardware Wallet Market Until 2028
Rise
is investment in the private and commercial to propel United States hardware
wallet market in the forecast period 2023-
2028.
According to
TechSci Research report, United States Hardware
Wallet Market - By Region,
Competition Forecast & Opportunities, 2018-2028 the United States hardware
wallet market is expected to register robust growth during the forecast period,
2023-2028. The hardware wallet market is being
driven by the rising investments in cryptocurrency-based devices for rapid and
safe transactions. Additionally, the market is being further fueled by the
expanding use of near-field communication (NFC) for wireless data transfer.
Another important reason
driving expansion is the widespread use of wireless hardware wallets because to
their numerous advantages, including direct control, long-term storage,
flexibility, security, etc. The emergence of digital and cashless
payments, the growing use of blockchain and distributed ledger technology to
ensure transparency by reducing the risk of hacking and other fraudulent
activity, the introduction of hardware wallet apps to make cryptocurrency
exchange easier, and many other factors are also having a positive impact on
the United States hardware wallet market.
Cryptocurrency public ledger
system is basically a record keeping system. The distributed ledger technology
is made to simultaneously record asset transactions and their specifics in
numerous locations. This system aims to preserve user-to-user communication in
order to minimize human, machine, or financial loss of data inaccuracies. This
is anticipated to accelerate the growth of the hardware wallet market all
across United States.
Despite the possibility of
being a simple, quick, and safe method of payment, the adoption of
cryptocurrencies in physical establishments is gradually shifting. Bitcoin and
other cryptocurrencies can be utilised conveniently in real-world settings
without the need for a banking license. They can also be utilised to protect
client privacy and save money for the merchant. Depending on the type of
payment request, NFC enables payment even if the payee or payer is not
connected to the Internet.
Moreover, Due to direct
control, long-term storage, and security, wireless hardware wallets are being
used widely, which is causing the industry to expand. The market is also
expanding as a result of the expanding use of near-field communication (NFC)
for wireless data transfer. The market is expanding due to other causes, such
as the new trend of digital and cashless payments, which is particularly
prevalent in developing nations.
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market data Figures spread through XX Pages and an in-depth TOC on the "United
States Hardware Wallet Market "
United states hardware wallet market is divided into type, connection
type, distribution channel, end user, end use industry and region. Based on
type the market is segmented into hot wallet and cold wallet. Based on
connection type, the market is further segmented into near field communication,
USB and Bluetooth. Owing of its ease of use, seamless connectivity, and reduced
power consumption, USB is one of the most cutting-edge technologies in the
bitcoin industry. Additionally, because of the challenging mathematical
problems involved in mining cryptocurrencies, a lot of computing power is
needed. For instance, Ledger, a manufacturer of hardware wallets, created the
USB hardware wallet for utmost protection to safeguard cryptocurrency. One of
the most sophisticated wallets that can hold numerous cryptocurrencies at once is
the Ledger Nano S. Therefore, it is anticipated these factors will boost the
use of USB hardware wallet devices, thereby boosting market growth in the
forecasted period.
Based on distribution channel, the market is segmented into online and offline. In the age of the Internet of Things, it is anticipated
that the online distribution channel would enable company's websites and
e-commerce platforms to provide customers with more dependable purchase
options. Advanced hardware wallet solutions are available on major online
distribution channels including Alibaba, Ubuy, Ledger, and Amazon, allowing
customers to buy devices from all over the United States.
Key market
players in the United States Hardware wallet market include:
- SatoshiLabs Group a.s.
- ARCHOS S.A.
- Ledger SAS
- KeepKey, LLC
- NerdWallet USA
- ELLIPAL Limited
- SecuX Technology Inc.
- Yanssie HK Limited (Keystone)
- Exodus Movement, Inc.
- Coolbitx Technology LTD
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“Due to its many advantages, including low costs, and the
removal of the existing banking system, cryptocurrencies are becoming more
widely used for a variety of real-world transactions, which is boosting market
growth. Hardware wallets provide security while reducing data breaches, which
greatly contributes to the market's expansion. Moreover, due to
technological improvements and innovations, wireless hardware wallets are
being developed to facilitate access and streamline bitcoin transactions, which
is boosting market growth. The industry for hardware wallets is expanding as a
result of the rising incidence of cybercrime. Additionally, it is anticipated
that the expansion of e-commerce platforms and the accessibility of a variety
of hardware wallets will support the market growth and with the introduction of
blockchains to offer improved security and simple cryptocurrency transactions
is anticipated to further accelerate industry expansion in the forecast period
2023-2028” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
United
States Hardware Wallet Market By Type (Hot Wallet, Cold Wallet), By Connection
Type (Near Field Communication, USB and Bluetooth), By Distribution Channel
(Online and Offline), By End User (Individual, Commercial) By End Use Industry (Capital
Market, BFSI (Excluding Capital Market), Real Estate and Others), By Region,
Competition Forecast & Opportunities, 2018- 2028 has evaluated the future
growth potential of United States Hardware
wallet market and provides statistics & information on market size,
structure, and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in United States Hardware wallet
market.
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