Hardware Wallet Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

The Hardware Wallet Market Report is Segmented by Type (USB, Nfc, And Bluetooth) and by Geography (North America, Europe, Asia Pacific, Rest of the World). The Market Sizes and Forecasts are Provided in Terms of Value in USD for all the Above Segments.

Hardware Wallet Market Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

Hardware Wallet Market Size

Hardware Wallet Market Summary
Study Period 2019 - 2030
Market Size (2025) USD 0.45 Billion
Market Size (2030) USD 1.60 Billion
CAGR (2025 - 2030) 28.79 %
Fastest Growing Market Asia Pacific
Largest Market Europe
Market Concentration Low

Major Players

Hardware Wallet Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Hardware Wallet Market with other markets in Technology, Media and Telecom Industry

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Hardware Wallet Market Analysis

The Hardware Wallet Market size is estimated at USD 0.45 billion in 2025, and is expected to reach USD 1.60 billion by 2030, at a CAGR of 28.79% during the forecast period (2025-2030).

Hardware wallets are specially designed cryptocurrency wallets that securely store users' private keys on encrypted hardware. These wallets allow users to safeguard sensitive data by storing private keys in a protected area within a microcontroller.

  • The surging interest in cryptocurrency trading is driving the market. These devices are now extensively adopted for business purposes. Moreover, wallet programs incorporate robust anti-theft and anti-hacking features, rendering them less susceptible to potential risks. Moreover, it has been anticipated that the enhanced security offered by these devices, compared to software, paper wallets, and web-based alternatives, will drive market expansion during the forecast period.
  • Moreover, continuous advancements in hardware wallet technology led to improved security features, user experience, and compatibility with various cryptocurrencies. These advancements make hardware wallets more appealing to both novice and experienced cryptocurrency investors. Also, the entry of institutional investors into the cryptocurrency market further boosts the demand for secure storage solutions. Institutions typically prioritize security and compliance, making hardware wallets an attractive option for storing large amounts of digital assets.
  • Decentralized finance (DeFi) is significantly impacting global industry. These platforms provide financial services like lending, borrowing, and asset management without relying on traditional intermediaries such as banks. DeFi users seek secure transaction management, and hardware wallets have emerged as the safest option. Their physical confirmation requirement adds an extra layer of security. As the DeFi market grows, the demand for secure ways to interact with these platforms will continue to drive the industry globally.
  • Governments may impose regulations limiting the sale or use of hardware wallets for storing cryptocurrencies. For example, they might require extensive KYC (Know Your Customer) procedures for purchasing hardware wallets, hindering their accessibility. This pandemic slowed down the adoption of hardware wallets.
  • The pandemic's rapidly increasing demand for cryptocurrencies has positively impacted the hardware wallet market. Bitcoin and other cryptocurrencies are gradually moving from unreliable investment vehicles to being accepted as forms of payment. The COVID-19 pandemic has increased calls for the dematerialization of payments, which has raised awareness of payment practices and the financial life cycle.

Hardware Wallet Industry Overview

The hardware wallet market is highly fragmented due to the presence of both global players and small and medium-sized enterprises. Some of the major players in the market are Ledger SAS, Satoshi Labs SRO, ShapeShift AG, Coinkite Inc., and CoolbitX Ltd. Players in the market are adopting strategies such as partnerships and acquisitions to enhance their product offerings and gain sustainable competitive advantage.

  • February 2024 - With the growing relevance of Bitcoin and the diverse needs of its user base, BitBox (Shift Crypto AG) signed a strategic alliance with Bitsurance. This collaboration marks a significant milestone in its continuous effort to enhance the security and user experience of our BitBox02 cold wallet, especially for those new to the Bitcoin realm.
  • May 2023 - SecuX signed a strategic collaboration with Trend Micro, a global cybersecurity provider, and introduced the W20 Trend Micro edition cold wallet pre-loaded with Trend Micro ChainSafer blockchain reputation service. The W20 provides users comprehensive protection covering Web2 and Web3, augmenting anti-counterfeiting, authentication, and anti-fraud capabilities.

Hardware Wallet Market Leaders

  1. Ledger SAS

  2. Satoshi Labs SRO

  3. ShapeShift AG

  4. Coinkite Inc.

  5. CoolbitX Ltd

  6. *Disclaimer: Major Players sorted in no particular order
Hardware Wallet Market Concentration
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Hardware Wallet Market News

  • February 2024 - Nervos CKB partnered with OneKey Wallet, creating a co-branded hardware wallet. Following the integration, users will be able to switch to the CKB mainnet within the OneKey Wallet for on-chain transfers. Additionally, users will be able to experience the CKB DApp ecosystem in the future. As the number of individuals using cryptocurrency increases, the demand for secure storage solutions also grows.
  • January 2024 - SafePal launched a limited edition USDC hardware wallet. The limited collection of customized Bluetooth open-source X1 hardware wallets have the same features as the standard model (including support for various networks and tokens).

Hardware Wallet Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions and Market Definition
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET INSIGHTS

  • 4.1 Market Overview
  • 4.2 Industry Value Chain Analysis
  • 4.3 Industry Attractiveness Porter's Five Forces Analysis
    • 4.3.1 Bargaining Power of Suppliers
    • 4.3.2 Bargaining Power of Buyers
    • 4.3.3 Threat of New Entrants
    • 4.3.4 Threat of Substitute Products
    • 4.3.5 Intensity of Competitive Rivalry
  • 4.4 Assessment of the COVID-19 Impact on the Market
  • 4.5 Assessment of Macroeconomic Factors
  • 4.6 Case Study Analysis
  • 4.7 Regulatory Implications
  • 4.8 Hardware Wallet Comparison (comparison of Key Vendors Products)

5. MARKET DYNAMICS

  • 5.1 Market Drivers
    • 5.1.1 Increasing Investments in Cryptocurrency
    • 5.1.2 Rising Focus on Security
    • 5.1.3 Rise in Technological Advancements Bolster the Growth of the Market
  • 5.2 Market Restraints
    • 5.2.1 Regulations Against Cryptocurrencies
    • 5.2.2 Limited Consumer Awareness

6. MARKET SEGMENTATION

  • 6.1 By Type
    • 6.1.1 USB
    • 6.1.2 NFC
    • 6.1.3 Bluetooth
  • 6.2 By Geography
    • 6.2.1 North America
    • 6.2.2 Europe
    • 6.2.3 Asia-Pacific
    • 6.2.4 Rest of the World

7. COMPETITIVE LANDSCAPE

  • 7.1 Company Profiles*
    • 7.1.1 Ledger SAS
    • 7.1.2 Satoshi Labs SRO
    • 7.1.3 ShapeShift AG
    • 7.1.4 Coinkite Inc.
    • 7.1.5 CoolbitX Ltd
    • 7.1.6 Shift Crypto AG
    • 7.1.7 Penta Security Inc.
    • 7.1.8 SecuX

8. INVESTMENT ANALYSIS

9. FUTURE OF THE MARKET

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Hardware Wallet Industry Segmentation

The hardware wallets market is defined by the revenue generated by selling hardware wallets provided by key global vendors.

The Hardware Wallet is segmented by type (USB, NFC, and Bluetooth) and geography (North America, Europe, Asia Pacific, and the Rest of the World). The market sizes and forecasts are provided in terms of value in USD for all the above segments.

By Type USB
NFC
Bluetooth
By Geography North America
Europe
Asia-Pacific
Rest of the World
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Hardware Wallet Market Research FAQs

How big is the Hardware Wallet Market?

The Hardware Wallet Market size is expected to reach USD 0.45 billion in 2025 and grow at a CAGR of 28.79% to reach USD 1.60 billion by 2030.

What is the current Hardware Wallet Market size?

In 2025, the Hardware Wallet Market size is expected to reach USD 0.45 billion.

Who are the key players in Hardware Wallet Market?

Ledger SAS, Satoshi Labs SRO, ShapeShift AG, Coinkite Inc. and CoolbitX Ltd are the major companies operating in the Hardware Wallet Market.

Which is the fastest growing region in Hardware Wallet Market?

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2025-2030).

Which region has the biggest share in Hardware Wallet Market?

In 2025, the Europe accounts for the largest market share in Hardware Wallet Market.

What years does this Hardware Wallet Market cover, and what was the market size in 2024?

In 2024, the Hardware Wallet Market size was estimated at USD 0.32 billion. The report covers the Hardware Wallet Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Hardware Wallet Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Hardware Wallet Industry Report

Statistics for the 2025 Hardware Wallet market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Hardware Wallet analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.