Loading…Loading…Loading…Wilmington, Delaware, Nov.20, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, ” Cryptocurrency Market By Offering (Hardware [ASIC, GPU, FPGA, and Others] and Software), Process (Mining and Transaction), Type (Bitcoin [BTC], Ethereum [ETH], Tether [USDT], Binance Coin [BNB], Cardano [ADA], Ripple [XRP], and Others), and End User (Trading, Retail & E-commerce, Banking, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030″.According to the report published by Allied Market Research, the global cryptocurrency market was valued at $1.49 billion in 2020 and is anticipated to garner $4.94 billion by 2030, witnessing a CAGR of 12.8% from 2021 to 2030.
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Report Coverage & Details:
Report Coverage Details Forecast Period 2021–2030 Base Year 2020 Market Size in 2020 $1.49 billion Market Size in 2030 $4.94 billion CAGR 12.8% No.
of Pages in Report 354 Segments Covered Offering, Process, Type, End User and Region.Drivers Rise in Need for Transparency in the Payment System Opportunities Untapped Potential on Emerging Economies Restraints Evolving demographics, rise in consumerism and openness toward new technologies such as IoT, Blockchain, and others provide lucrative opportunities for cryptocurrency across developing nations.Drivers, Restraints, and Opportunities
The growth of the global cryptocurrency market is driven by a rise in need for transparency in the payment system and an increase in flow of remittances from foreign countries.However, lack of awareness about cryptocurrency among individuals hampers the growth to some extent.Nevertheless, untapped potential on emerging economies is expected to offer new opportunities in the near future.
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Loading…The Mining Segment to rule the roost By 2030
By process, the mining segment held nearly two-thirds of the global cryptocurrency market share in 2020, and is projected to dominate the market till 2030, as this process involves validating data blocks and adding transaction records to a public ledger known as blockchain.However, the transaction segment is expected to witness the fastest CAGR of 14.6% during the forecast period, as cryptocurrency transactions allow users to control their money without dealing with an intermediary authority such as a bank or government.
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The Hardware Segment to Retain the Lion’s Share
By offering, the hardware segment garnered more than three-fourths of the global cryptocurrency market share in 2020, and is anticipated to rule by the end of 2030, owing to increase in need to enhance the efficiency of financial payment tools.The software segment, however, is registered to witness the fastest CAGR of 14.2% throughout the forecast period, as it facilitates managing the huge volume of data being generated for meaningful insights and better-informed decisions.
Asia-Pacific Held the Dominant Share in 2020
By region, the Asia-Pacific region held the major share in 2020, generating nearly half of the global cryptocurrency market.The same region is expected to show the fastest CAGR of 14.5% from 2021 to 2030.This is due to the increase in the number of Bitcoin exchanges across Asia, which brings a certain healthy competition in the industry.
Key Players in the Industry
Ledger SAS Ripple Advanced Micro Devices Inc.
Xilinx Inc.Xapo Holdings Limited BitFury Group Limited BTL Group Ltd.Intel Corporation NVIDIA Corporation Coincheck Inc.Key Benefits For Stakeholders
This study includes cryptocurrency market analysis, and future estimations to determine the imminent investment pockets.The report presents information related to key drivers, restraints, and cryptocurrency opportunity.The cryptocurrency market size is quantitatively analysed from 2020 to 2030 to highlight the financial competency of the industry.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the cryptocurrency market trends.Inquire Before Buying : https://www.alliedmarketresearch.com/purchase-enquiry/2075
Cryptocurrency Market Key Segments
By Offering
Hardware ASIC Full Custom ASIC Semi-custom ASIC Programmable ASIC GPU FPGA Others Software Mining Platform Exchange Coin Wallet By Process
Mining Transaction By Type
Bitcoin (BTC) Ethereum (ETH) Tether (USDT) Binance Coin (BNB) Cardano (ADA) Ripple (XRP) Others By End User
Trading Retail and E-commerce Banking Others By Region
North America U.S.Canada Mexico Europe UK Germany France Italy Rest of Europe Asia-Pacific China Japan India South Korea Rest of Asia-Pacific LAMEA Latin America Middle East Africa Trending Reports in BFSI Industry (Book Now with 10% Discount + Covid-19 scenario):
Cryptocurrency Mining Hardware Market by Type (Central Processing Unit, Graphics Processing Unit, Application-Specific Integrated Circuit, Field Programmable Gate Array), by Coin (Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Others), by Application (Enterprise, Personal): Global Opportunity Analysis and Industry Forecast, 2023-2032
Cryptocurrency Hardware Wallet Market by Hardware Component (ASIC, GPU, FPGA, Others), by Security Method (Pin, Two-factor Authentication, Biometric Security, Others), by Type (USB Connectivity Type, Bluetooth Connectivity Type, NFC Connectivity, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031
Cryptocurrency ATMs Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (One-Way, Two-Way), by ATM Hardware (Display, ATM Printer, QR Scanner, Others), by Type (Bitcoin, Dog Coin, Litecoin, Z-Cash, Dash, Monexo, Ethereum) and by Enterprise Size (Large Enterprise, Small Medium Enterprises): Global Opportunity Analysis and Industry Forecast, 2023-2032
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