Hardware Wallet Market Overview:
The Hardware
Wallet market industry is projected to grow from USD 285.1 million in
2022 to USD 1,449.2 million by 2030, exhibiting a compound annual growth rate
(CAGR) of 22.5% during the forecast period (2022 - 2030).
The major industrial players are highly driving the Hardware
Wallet Market at the global level. Their presence in the various regions
is propelling the regional growth of the market. The competitive nature between
the players emerges its demand at the global level. The market players focus on
the rising growth opportunities to help the market emerge with its
developments. These players also check out the growth limiting factors, such as
the challenging and restraining factors, so that it won't hamper the market's
growth rate. There are a huge number of competitive leaders in different
regions of the world.
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Key Players:
Key Companies in the Hardware
Wallet market include,
·
ARCHOS (France)
·
BitLox
(Hong Kong)
·
CoolBitX
Technology Ltd. (Taiwan)
·
ELLIPAL
Limited (Hong Kong)
·
Ledger
SAS (France)
Major Players Progressing In Different Regions
The Asia Pacific region has a prominent number of market players.
Biloxi (Hong Kong), CoolBitX Technology Ltd. (Taiwan), ELLIPAL Limited (Hong
Kong), Penta Security Systems Inc. (South Korea), and CoolWallet (China) are
the major players of the Asia Pacific region. Due to their presence, the Asia
Pacific is progressing as the fastest-growing region. North American also has
top players who are propelling its regional growth.
The market strategies implemented by the key players are boosting
up the global Hardware Wallet Market. These prominent players also
adopted organic and inorganic strategies like mergers, acquisitions, strategic
alliances, partnerships, and product launches to maintain their competitive
strategies. The leading players constantly focus on technological advancements
to launch innovative products with advanced and upgraded features to meet the
dynamic consumer needs.
Key Developments of Hardware Wallet Market:
On 26th Oct 2021, CoolBitX, the International blockchain security
company creator of the CoolWallet Pro, Bluetooth hardware wallet for DeFi
users, announced a partnership with Crypto.com, the world's fastest-growing
crypto platform. CoolWallet's official website integrated Crypto.com Pay, a
powerful payment solution that offers cashback and other rewards to the users
for paying and receiving payment in cryptocurrency and also provides integrated
support for the CRO token.
On 11th June 2021, French start-up Ledger raised a value of USD
380 million Series C funding round led by 10T Holdings. Now the company reached
a valuation of USD 1.5 billion. Other investors in the funding round include
Draper Associates, Draper Dragon, Draper Esprit, DCG, Cathay Innovation,
Korelya Capital, and Wicklow Capital.
On 25th Feb 2021, GRAY, a Singapore-based company, announced its
crypto hardware wallet line, the CORAZON, in aluminum variants. The CORAZON
created and partnered with SatoshiLabs, the creators of Trezor, the leading
hardware wallet.
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On 7th Jan 2019, Ledger, a global player in security and
infrastructure solutions for cryptocurrencies and blockchain applications,
unveiled the Ledger Nano X, a Bluetooth-enabled hardware wallet. The Ledger
Nano X's new signature product improved on the Ledger Nano S; the hardware
wallet sold over 1.5 million units, with enhanced and advanced security and an
improved user experience and design.
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