Global Digital Currency Wallet Market by Type (Cold Wallet, Hot Wallet), By Application (PC, Cell Phone) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global digital currency wallet market is expected to grow at a CAGR of over 20% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing adoption of digital currencies and the growing demand for secure and convenient storage solutions. The global digital currency wallet market can be segmented on the basis of type into cold wallets and hot wallets. The cold wallets segment is expected to hold a larger share of the market during the forecast period owing to their higher security features as compared to hot wallets. On the basis of application, the global digital currency wallet market can be divided into PC and cell phone applications. The PC application segment is expected to hold a larger share of this market duringthe forecast period owingto its higher adoption rate as compared toboth cell phone applicationsand other segments.



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Product Definition:

A digital currency wallet is a secure online platform that allows users to store, send, and receive digital currencies like Bitcoin. Digital currency wallets are important because they allow users to securely access their funds and use them for transactions online.

Cold Wallet:

A cold wallet is a physical storage device where digital currency can be stored. It’s an offline system that helps in securing the cryptocurrency by keeping it offline. The term “cold wallet” was originated from the banking and financial sector, where wallets that are kept offline are known as cold wallets. These wallets serve the purpose of a savings account, checking account or cash reserve account for saving or storing money respectively.

Hot Wallet:

A hot wallet is a term used to define an online account that allows users to make transactions using a digital currency. The wallets exist on the cloud and are accessed through the internet. Hot wallets have high transaction volumes compared to cold wallets, which makes them more lucrative targets for hackers; however, due to encryption techniques and firewalls, they are safer than cold storage.

Application Insights:

The PC digital currency wallet application dominated the global market in 2017. The dominance is attributed to the growing use of web-based wallets and also due to the fact that these wallets are installed on personal computers, which makes them easily accessible from any part of the world. However, mobile phones are expected to be the fastest-growing segment over the forecast period owing to increasing adoption of smartphones in developing countries such as India and China.

Digital currency has several advantages over traditional payment methods such as cashless payments and no transaction fees associated with it. These benefits have increased its popularity among consumers looking for cost-efficient ways of making purchases via cell phones or computers without having an actual physical presence in brick-and-mortar stores or online shops run by major ecommerce platforms like Amazon, eBay etc.

Regional Analysis:

The market in North America is expected to witness significant growth over the forecast period owing to increasing adoption of digital currencies for both retail and B2B payments. The region accounted for more than 35% of the global market share in 2017, which can be attributed to a large number of Bitcoin users across the U.S., Canada, and Mexico. Moreover, growing awareness regarding digital currencies among consumers has resulted in increased demand for cold wallets as an additional safeguard against cyber-attacks on hot wallets that hold their funds.

Asia Pacific is anticipated to emerge as the fastest-growing regional segment over the forecast period owing to factors such as rising internet penetration and increasing adoption of mobile banking transactions across emerging economies such as China and India that are also considered key markets for e-commerce companies operating globally. Furthermore, countries including Japan have been at the forefront when it comes comes adopting new technologies including AI (Artificial Intelligence) & IoT (Internet Of Things).

Growth Factors:

Increasing demand for digital currency wallets from individuals and businesses for safe and secure storage of their cryptocurrencies.
Rising awareness about the benefits of using digital currency wallets among consumers, which is expected to fuel the growth of the market during the forecast period.
Proliferation of blockchain technology and increasing number of startups focused on developing innovative digital currency wallets is anticipated to drive market growth over the next few years.
Growing popularity of cryptocurrency trading platforms is also expected to boost demand for digital currency wallets in coming years.


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Scope Of The Report
Report Attributes
Report Details
Report Title
Digital Currency Wallet Market Research Report
By Type
Cold Wallet, Hot Wallet
By Application
PC, Cell Phone
By Companies
Coinbase, Mycelium, KingTeller, Netac Technology, Cobo Wallet, BitUniverse, Ledger, Consenlabs, HyperPay, BITPIE LIMITED, Henan Zhongdun Yun'an Information Technology Co., Ltd., Trezor, Wuhan Tianyu Information, Hicoin
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
244
Number of Tables & Figures
171
Customization Available
Yes, the report can be customized as per your need.

Global Digital Currency Wallet Market Report Segments:
The global Digital Currency Wallet market is segmented on the basis of:
Types
Cold Wallet, Hot Wallet
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
PC, Cell Phone
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Coinbase
Mycelium
KingTeller
Netac Technology
Cobo Wallet
BitUniverse
Ledger
Consenlabs
HyperPay
BITPIE LIMITED
Henan Zhongdun Yun'an Information Technology Co., Ltd.
Trezor
Wuhan Tianyu Information
Hicoin



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Highlights of The Digital Currency Wallet Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Cold Wallet
Hot Wallet
By Application:
PC
Cell Phone
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Digital Currency Wallet Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
Identifying Appropriate Advertising Appeals



8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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