Australia Hardware Wallet Market Report and Forecast 2025-2034

Australia Hardware Wallet Market Outlook

The Australia hardware wallet market size is projected to grow at a CAGR of 16.5% between 2025 and 2034.

Key Takeaways

• As the adoption of cryptocurrencies and digital currencies continues to rise, hardware wallets are becoming more popular due to their enhanced security features compared to software-based wallets.

• Ledger Nano X wallet is considered the best overall hardware wallet. It supports over 5,500 assets and offers robust security features.

• Australia boasts the third-highest rate of crypto adoption globally as around 60% of Australians use a hot wallet for managing their crypto holdings.

The increasing adoption of cryptocurrencies in investments and transactions, particularly in countries like India, Japan, Australia, and South Korea are creating a significant market for digital assets. As per industry reports, approximately 4.6 million Australians own some form of cryptocurrency. The growing number of cyberattacks in the cryptocurrency market is also fuelling the demand for secure storage solutions like hardware wallets.

Moreover, the rise of startup firms in the crypto and blockchain industries in Southeast Asia, with over 600 such businesses in the region, is contributing to the Australia hardware wallet market growth. The development of wireless hardware wallets, the increasing adoption of near field communication (NFC) technology, and the shift towards non-custodial wallets are other key trends fuelling the market growth.

Another key trend contributing to the Australia hardware wallet market development is the integration of biometric security features like fingerprint recognition or facial recognition to enhance user authentication and data protection. The market is also witnessing a trend towards hardware wallets offering support for a wide range of cryptocurrencies and tokens, allowing users to manage multiple digital assets in a single device.

USB-based hardware wallets, exemplified by popular models like Ledger Nano S, offer a reliable and secure connection method, appealing to users seeking stability in managing their digital assets. These wallets are favoured for their compatibility with various devices and robust security features. Near-Field Communication (NFC) technology, as seen in devices like Ellipal Titan, is gaining traction for its convenience and quick transaction capabilities. NFC-enabled hardware wallets provide seamless communication for secure payments. Bluetooth-connected hardware wallets, such as the Trezor Model T, offer wireless connectivity for enhanced mobility and accessibility.

Market Segmentation

Australia Hardware Wallet Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Cold Wallet

• Hot Wallet

Market Breakup by Connection Type

• USB

• Near-field Communication (NFC)

• Bluetooth

Market Breakup by End Use

• Individual

• Commercial

Market Breakup by Distribution Channel

• Online

• Offline

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

Competitive Landscape

Market players are focused on providing advanced quality of hardware wallet across industries to ensure optimal storage security and stay ahead in the competition.

• Hardware Wallets Pty Ltd

• Trezor Company s.r.o.

• Ledger SAS

• Tangem AG

• Others

Key Highlights of the Report