Home Press Releases Crypto Wallet Market Size Worth $48.42 Billion By 2030 | CAGR: 24.31%

Crypto Wallet Market Size Worth $48.42 Billion By 2030 | CAGR: 24.31%

The global crypto wallet market size is expected to reach USD 48.42 billion by 2030, according to a new study by Polaris Market Research. The report “Crypto Wallet Market Share, Size, Trends, Industry Analysis Report, By Wallet Type (Hot, Cold); By Operating System; By Application; By End-Use; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

 

Cryptocurrencies are frequently adopted over traditional payment methods on a variety of platforms because they allow for speedier payments with no transaction fees and provide resistance and exposure to inflation. These are some of the primary benefits that a digital currency provides, which fuel the expansion of the cryptocurrency industry over the analyzed period.

 

There are already 18 million bitcoins in circulation worldwide, but only 14,000 bitcoin ATMs where you may conduct sophisticated activities such as bitcoin purchase and selling. The bulk of these bitcoin ATMs was in the United States. Ethereum is predicted to rise at a fantastic rate in the future year since it is mostly utilized by banks. If the federal system approves of the usage of Ethereum in the market, its value will skyrocket. Many other cryptocurrencies are circulating across the world, but Ethereum and Bitcoin are projected to dominate the market share during the analysis period.

 

Cryptocurrencies are used by over 300 million individuals globally, with around 30 million originating from the United States and more than 38 million from Europe. The global acceptance of cryptocurrencies and knowledge of their benefits is increasing, generating significant opportunities for a crypto wallet. Because it allows for the sending and receiving of various currencies. As a result, this factor is rapidly expanding the worldwide crypto wallet business.

 

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There are various major and medium-sized businesses competing in the market; hence the market is fragmented in nature. To stay afloat in the global crypto wallet market, key players continually apply new growth tactics. App launches and collaborations are two growth methods adopted by these main competitors to flourish in the global market.

 

Crypto Wallet Market Report Highlights

  • By Geography, North America is ruling the worldwide market and is expected to hold a share of more than 30% in 2022 due to the dominant customer base and important firms in the US.
  • In terms of wallet type, a hot wallet is the leading category owing to the increasing penetration of the internet and smartphone.
  • By system, the Android segment dominated the global crypto wallet market owing to a large user base of android phones followed by iOS. Android wallets are easy to access with a user-friendly interface.
  • By Application, the remittance category is projected to show the fastest growth over the forecast period owing to the launch of remittance-specific cryptocurrencies and cheap transactions.
  • Key players in the market include Block Fi, Coin base, Bit Go, Binance, Bit Pay, Satoshi Labs, Ledger SAS, Exodus Movement, Zen Go.

 

Polaris Market Research has segmented the crypto wallet market report based on wallet type, operating system, application, end-use, and region:

 

Crypto Wallet, Wallet Type Outlook (Revenue – USD Billion, 2018 – 2030)

  • Hot Wallets
    • Web-based Wallets
    • Mobile Wallets
    • Desktop Wallets
  • Cold Wallets
    • Paper Wallets
    • Hardware Wallets

Crypto Wallet, Operating System Outlook (Revenue – USD Billion, 2018 – 2030)

  • Android
  • iOS
  • Others

Crypto Wallet, Application Outlook (Revenue – USD Billion, 2018 – 2030)

  • Peer-to-Peer Payments
  • Trading
  • Remittance
  • Others

Crypto Wallet, End-Use Outlook (Revenue – USD Billion, 2018 – 2030)

  • Individual
  • Commercial

Crypto Wallet, Regional Outlook (Revenue – USD Billion, 2018 – 2030)

  • North America
    • U.S
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Netherlands
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Indonesia
    • Malaysia
  • Latin America
    • Argentina
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Israel
    • South Africa

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