Crypto Wallet Market to grow by USD 686.05 million from 2021 to 2026 | Growth Driven by People's inclination towards digital currency- Technavio
NEW YORK, Sept. 18, 2023 /PRNewswire/ -- The crypto wallet market by product (software-based and hardware-based) and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2022-2026" report has been added to the Technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the crypto wallet market from 2021 to 2026 is USD 686.05 million, according to Technavio. People's inclination towards digital currency is a key factor driving market growth. Digital currencies offer a world of possibilities with faster and more affordable bank transfers, a boom in retail e-commerce, an increase in currency transactions in low-income countries, and an increase in international remittances. Furthermore, payment in digital currency will reduce payment risks in the financial system. The need for a reliable, long-term store of value is a popular reason to invest in cryptocurrencies. Most cryptocurrencies, unlike fiat currencies, have a limited supply constrained by mathematical algorithms. Hence, this inclination toward digital currencies is expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and much more. Buy the full report here
The misuse and security attacks that confine the adoption of cryptocurrencies is significant challenge restricting market growth. Many regulators are concerned about criminals increasingly abusing digital currency for illegal activities, as it is an unregulated, decentralized, and uncontrolled exchange platform. Furthermore, criminals use digital currencies to carry out a variety of illegal activities, including tax evasion, money laundering, and terrorist financing. Businesses and governments are concerned that criminals can hide their financial activities from authorities due to the decentralized and anonymous nature of digital money transfers. In addition, the government has the right to restrict cryptocurrency exchanges according to legislation regarding the monitoring of illegal activities. Hence, this inclination toward digital currencies is expected to restrict market growth during the forecast period.
Learn about additional key drivers, trends, and challenges available with Technavio. Read Free Sample PDF Report Now
The crypto wallet market is segmented by product (software-based and hardware-based) and geography (North America, Europe, APAC, South America, and Middle East and Africa).
View the Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Crypto Wallet Market:
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
The e-wallet market size is estimated to grow at a CAGR of 26.41% between 2022 and 2027. The market size is forecast to increase by USD 163.43 billion. The growth of the market depends on several factors, including the rising number of online transactions, the rise in the use of wireless networks, and the surge in compliance requirements.
The Global Cryptocurrency Market size is estimated to grow at a CAGR of 15.81% between 2022 and 2027. The market size is forecast to increase by USD 1,815.78 million. This cryptocurrency market report extensively covers market segmentation by Type (bitcoin, Ethereum, and others), Component (hardware and software), and Geography (North America, Europe, APAC, South America, and Middle East and Africa). Rising investment in digital assets is one of the key drivers fueling the cryptocurrency market's growth.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by WRITERS
Market Segmentation by Geography
Drivers, Challenges, & Trends
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide 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.
View original content to download multimedia:https://www.prnewswire.com/news-releases/crypto-wallet-market-to-grow-by-usd-686-05-million-from-2021-to-2026--growth-driven-by-peoples-inclination-towards-digital-currency--technavio-301929299.html
Keynote Presentation by Genesys
Making the Transition from MSP to MSSP
Solutions Showcase Session