Crypto Portfolio Market Size, Share, and Trend Analysis Report 2022: A Global Market Over $48.25 Billion by 2030 – ResearchAndMarkets.com

DUBLIN–(COMMERCIAL THREAD)–The “Crypto Wallet Market Size, Share and Trend Analysis Report by Wallet Type (Hot Wallet, Cold Wallet), by Operating System (Android, iOS, Others), by Application, by Use final (individual, commercial), by region and segment forecast, 2022-2030″ has been added to the report ResearchAndMarkets.com offer.

The global crypto wallet market size is projected to reach $48.27 billion by 2030, registering a CAGR of 24.4%

Crypto wallets help users keep their private keys securely and use them while performing any cryptocurrency transaction. The increase in the use of cryptocurrency for individual and commercial use, the growing demand for better security in crypto transactions, the expansion of smartphone use and the penetration of the Internet are the factors that are expected to drive the growth of crypto wallets during the forecast period.

Crypto wallets allow users to send, store and receive cryptocurrencies such as Bitcoin, Ethereum and Ripple. Crypto wallets store the private keys for cryptocurrency and keep them safe. Growing traction on the metaverse and Web 3.0 is expected to drive future demand for cryptocurrencies and crypto wallets. Cryptocurrencies are supposed to serve as the primary tool for trading, buying or moving in the metaverse.

The growing penetration of the internet and the use of smartphones are the factors that are expected to fuel the demand for crypto wallets. Worldwide internet users increased from 4.585 million to 4.901 million from 2020 to 2021. Increasing internet usage is contributing to the worldwide adoption of cryptocurrencies. Users are increasingly adopting crypto wallets to store, receive and send cryptocurrency, which is easily accessible and downloadable software. The growing penetration of smartphones is driving the downloads of mobile crypto wallets, thus contributing to the growth of the market.

Businesses from all over the world understand the importance of cryptocurrencies. Aside from personal use, cryptocurrencies are increasingly being used as a store of value and medium of exchange by businesses. Cryptocurrencies are being used as a new avenue to enhance traditional financial activities, such as enabling fast, real-time payment transactions and managing the risks and opportunities of engaging in digital investments. The growing adoption of cryptocurrencies for commercial use is driving the adoption of crypto wallets, thus driving the growth of the market.

COVID-19 has had a positive impact on the crypto wallet market. In the face of the financial extremes and economic crashes created by the pandemic, cryptocurrencies have proven more resilient. During these economic downturns, tech-inclined investors have sought cryptocurrencies as a more stable store of value, which has created a boom in the cryptocurrency market.

Additionally, rapid digitization and the growth of high-speed internet infrastructure fueled by the pandemic has created a rich environment for the digital currency. All these factors are expected to contribute to the growth of the crypto wallet market in the future.

Crypto Wallet Market Report Highlights

  • The hot wallet segment is expected to witness significant growth over the forecast period. Hot wallets are downloadable crypto wallet software connected to the Internet and can be downloaded to mobile or desktop devices. Hot wallets are affordable and easy to use, making them a popular type of crypto wallet. The growing use of smartphones and the growing Internet penetration are the factors that should contribute to the growth of the segment

  • The Android segment is expected to witness significant growth over the forecast period. A private cryptocurrency wallet using the Android operating system is generally a non-custodial hot software wallet that can be downloaded onto Android devices. These crypto wallets allow users to trade cryptocurrencies while managing their private keys. The growing adoption of Android smartphones is driving the growth of the Android segment

  • The remittance segment is expected to experience significant growth throughout the forecast period. Cryptocurrency remittance allows for instant real-time fund transfers at lower processing costs. Cryptocurrency companies are increasingly offering remittance services to meet the growing demand from cryptocurrency users. Growing demand for cryptocurrency is expected to fuel growth in the segment

  • The individual segment is expected to experience significant growth over the forecast period. Global cryptocurrency users increased from 106 million in January 2021 to 295 million in December 2021. Growing demand for cryptocurrencies used for trading, store of value, remittances and payments is expected to drive growth of the single segment

  • Asia Pacific is expected to emerge as the fastest growing regional market due to a larger customer base and a significant number of startups investing and innovating in the digital currency landscape. The growing number of tech-inclined financial investors is also expected to drive the crypto wallet market in the region

Market dynamics

Analysis of market drivers

  • Increase financial awareness and use of cryptocurrency

  • Business acceptance of cryptocurrencies

Analysis of market challenges

  • Data privacy and security issues

Market opportunity analysis

  • Technological advancements in the crypto wallet

Crypto Wallet Market – Porter’s Five Forces Analysis

Crypto Portfolio Market – PESTEL Analysis

Competitive landscape

  • Coinbase Global, Inc.

  • bitgo

  • Binanza

  • bitpay

  • Satoshilabs SRO (Trezor)

  • Master Sas

  • Blockfi Inc.

  • Exodus Movement, Inc.

  • Zengo Ltd

  • Crypto.Com

  • Blockchain.Com, Inc.

For more information about this report, please visit https://www.researchandmarkets.com/r/cwxihb

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