Cryptocurrency Market:
Growth opportunities in the Cryptocurrency Market look promising over the next six years. This is mainly due to the variation in monetary regulation, continuous technological advancement, and rising impalement of the internet.
Cryptocurrency Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
One of the prominent drivers supplementing the growth of the global cryptocurrency market includes their augmenting acquisition for payments and other functions across developing and developed countries. Also, research and development activities and continuous technological innovations, which include the incorporation of blockchain technology, are strengthening the cryptocurrency market size. Moreover, the discrepancies in financial norms, surging number of cross-border payments, coupled with the accelerating penetration of the internet will stimulate market growth.
Additionally, the growing adoption of these cryptocurrencies, along with their remarkable advantages, including increased flexibility, fewer transaction fees, instant payments, easier international exchange, and more confidential transactions, are contributing to the market growth. Furthermore, the widespread outbreak of the coronavirus crisis has raised the market size. This is because of the rising emphasis on implementing crypto assets, digital currencies, and other technologies. The escalating inclination in favor of contactless delivery led by the enlarging focus to maintain social distance will propel the market demand. However, as per the cryptocurrency industry, the growing apprehension towards safety & control, privacy, and low technical expertise related to cryptocurrency will hamper the market growth.
Type Segment Drivers
Based on the type, bitcoin is projected to witness a faster CAGR during the forecast period. This is attributed to their increasing endorsement across nations due to its better flexibility. In addition to it, various benefits such as user’s autonomy, peer-to-peer focus, discretion, along with the termination of banking fees and meagre transaction fees for the international payments, are alluring individual towards the market.
Cryptocurrency Market’s leading Manufacturers:
- Ethereum Foundation
- BitGo
- Bitfury Group Limited
- Advanced Micro Devices, Inc.
- BitMain Technologies Holding Company
- Coinbase
- Ripple
- Intel Corporation
- Holding Company
- Xilinx
Cryptocurrency Market Segmentation:
Segmentation by Offering
- Hardware
- Gpu
- Asic
- FPGA
- Wallet
- Software
- Coin Wallet
- Mining Platform
- Exchange
Global Cryptocurrency Market by Process
- Transaction
- Wallet
- Exchange
- Mining
- Pool Mining
- Solo Mining
- Cloud Mining
Segmentation by Type
- Etgereum (ETH)
- Bitcoin
- Ripple (XRP)
- Bitcoin Cash
- Litecoin (LTC)
- Dashcoin
- Others
Segmentation by Application
- Remittance
- Trading
- Payment
- Ecommerce & Retail
- Peer-To-Peer Payment
- Travel & Tourism
- Media & Entertainment
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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