Dublin, Nov. 08, 2021 (GLOBE NEWSWIRE) — The “Hardware Wallet Market – Growth, Trends and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The global hardware wallet market was valued at USD 202.40 million in 2020. It is expected to be valued at USD 877.69 million by 2026, registering a CAGR of approximately 29.24% over the forecast period (2021-2026).
The rapidly growing demand for cryptocurrency during the pandemic has positively influenced the market for the hardware wallet. Cryptocurrencies, such as Bitcoin are gradually making a transition from uncertain investment instruments to payments. There is growing attention to payment habits and the financial life cycle, as the COVID-19 pandemic has led to more calls for dematerialization of payments.
Key Market Trends
NFC Type to Hold Significant Share
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The adoption of cryptocurrencies in real-world stores is progressing slowly, even though it has the potential of being a convenient, fast, and secure way of paying for goods. Cryptocurrencies, such as Bitcoin, can be used in real-world environments in a timely matter without requiring a banking license. They can also be used to save merchant money and for safeguarding the privacy of customers.?
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NFC technology enables the flexible usage of cryptocurrency by providing means of storage. More importantly, it enables the usage of crypto assets in everyday purchases. By using this technology, cryptocurrency can be turned into a simple way of payment, and it works just by pairing with a mobile app.?
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By utilizing NFC, payment is allowed even if the payee or payer is not connected to the Internet, depending on the type of payment request. This scheme is beneficial for tourists who are not willing to pay high roaming fees or are at places where the Internet reception is unreliable or not present at all.?
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Additionally, BitPay is a company offering Bitcoin merchant solutions and end-user wallets. Similar to Apple, BitPay added NFC support to its PoS…
