Cryptocurrency Market Forecasts to 2028 – Global Analysis By Offering (Hardware, Software), Type (Bitcoin, Cardano, Ripple (Xrp)), End User (BFSI, Commerce, Education, Healthcare, Remittance, Travel & Tourism) and By Geography
According to Stratistics MRC, the Global Cryptocurrency Market is accounted for $1.49 billion in 2020 and is expected to reach $2.99 billion by 2028 growing at a CAGR of 9.1% during the forecast period. The high inflow of remittances to developing countries is propelling growth in venture capital investments is driving the market growth. However, lack of awareness and technical understanding regarding crypto currencies are hampering the growth of the market.
A crypto currency is a digital or virtual currency that is protected by cryptography, which makes it nearly difficult to counterfeit or double-spend. Many cryptocurrencies are reorganized networks based on blockchain technology a distributed ledger imposed by a dissimilar network of computers.
Based on the process, the mining segment is going to have lucrative growth during the forecast period. Mining is an essential process for the transmission, generation and authentication of transactions in cryptocurrencies. It authorizes secure, stable and safe propagation of the currency from a spender to a receiver. Not like fiat currency, where a centralized authority controls and legalizes the transactions, cryptocurrencies are decentralized and work on a peer-to-peer system. By geography, Asia Pacific is going to have high growth during the forecast period. China is the largest market among all APAC countries, due to the low cost of electricity, and existence of big mining companies.
Some of the key players profiled in the Cryptocurrency Market include Binance, Advanced Micro Devices Inc Bitfury Group Limited, Bitgo, Bitmain Technologies Ltd, Bitstamp Ltd, Canaan Creative Co Ltd, Coinbase, Ethereum Foundation, Ifinex Inc, Intel, Nvidia, Ripple, Xilinx and Zhejiang Ebang Communication Co., Ltd.
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Report Coverage |
Details |
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Published Year: |
2021 |
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Estimated Market Size in 2020: |
USD 1.49 billion |
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Estimated Period: |
2020 |
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Compound Annual Growth Rate (CAGR) from 2020 to 2028: |
9.1% |
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Predicted 2028 Value: |
USD 2.99 billion |
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Forecast Years: |
2021-2028 |
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Tables, Graphs& Figures |
366 |
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Chapters Covered: |
Offering, Process, Type, Design Goal, End User and Region |
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Core Drivers and Opportunities: |
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Restraining Factors & Market Threats: |
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Offerings Covered:
• Hardware
• Software
Process’s Covered:
• Transaction
• Mining
• Vaults
• Encryption
Types Covered:
• Bitcoin
• Bitcoin Cash
• Cardano
• Dashcoin
• Ether (ETC)
• Ether Classic
• Ethereum
• Litecoin (Ltc)
• Ripple (Xrp)
• Tether
• Other Types
Design Goals Covered:
• Digital Cash Coins
End Users Covered:
• Banking, financial services and insurance (BFSI)
• Commerce
• Education
• Gaming Industry
• Healthcare
• Media And Entertainment
• Peer-To-Peer Payment
• Remittance
• Retail & Ecommerce
• Transportation & Logistics
• Travel & Tourism
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Cryptocurrency Market is majorly driven by the high inflow of remittances to developing countries is propelling growth in venture capital investments.
The mining segment is growing at a highest CAGR owing to factor such as mining is an essential process for the transmission, generation and authentication of transactions in cryptocurrencies.
Europe dominated with a significant market share due to the factors such as minimal ownership cost, safer, and quicker transactions across the region.
Asia Pacific market is growing at a highest CAGR owing to the high-technology investment, penetration of e-payments and existence of big mining companies in the region.
Key players in Cryptocurrency Market include Binance, Advanced Micro Devices IncBitfury Group Limited, Bitgo, Bitmain Technologies Ltd, Bitstamp Ltd, Canaan Creative Co Ltd, Coinbase, Ethereum Foundation, IfinexInc, Intel, Nvidia, Ripple, Xilinx and Zhejiang Ebang Communication Co., Ltd.
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