New Study Predicts Wallet Market Will Grow $700 Million by 2026


18 Sep 2023 11:00 AM

According to a study by market research firm Technavio, the market for digital wallets is set to expand by 2027, pending regulations....

  • Market research firm Technavio predicts that the use of crypto wallets will grow by $686 million by 2026.
  • The growth of crypto wallets will depend on the increase in wireless networks, online transactions, and the evolution of regulations.
  • The COVID-19 pandemic has boosted the creation of digital wallets, with US firms Coinbase and Robinhood Markets offering wallets that made it easy to invest in crypto.
  • The size of the e-wallet market, including non-crypto digital currencies, is expected to increase by $163.43 billion by 2027.
  • North America is currently the biggest market for crypto wallets, followed by China, the UK, Germany, and Switzerland.
  • The proliferation of play-to-earn games and the ability to earn crypto income from playing blockchain-based games have contributed to the rise in wallet creation.
  • New regulations, such as the Markets in Crypto-Assets (MiCA) bill in Europe and efforts to regulate crypto globally, could slow down adoption and complicate the rollout of new wallets.

The article provides a mix of positive and negative sentiment. On one hand, it highlights the growth and potential of crypto wallets, especially during the pandemic. On the other hand, it mentions the potential challenges and regulations that could impact the adoption of wallets.

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