Cryptocurrency Market to Grow at 6.18% CAGR and Projected to Reach US$ 1.40 billion by 2024

Cryptocurrency Market 2018- Executive Summary, Scope of The Report and Forecast up to 2024 report added on ReportsnReports.com. Key players in the cryptocurrency market include Bitmain (China), NVIDIA (US), Xilinx (US), Intel (US), Advanced Micro Devices (US), Ripple Labs (US), Ethereum Foundation (Switzerland), Bitfury Group (Netherlands), Coinbase (US), BitGo (US), and Binance Holdings (China).

Download Brochure of Cryptocurrency Market spread across 165 Pages, Profiling Companies and Supported with Tables and Figures is now available at https://www.reportsnreports.com/contacts/requestsample.aspx?name=1207830

The cryptocurrency market is projected to reach USD 1.40 billion by 2024 from USD 1.03 billion by 2019, at a CAGR of 6.18% during the forecast period. Growth in Cryptocurrency market can largely be attributed to factors such as transparency of distributed ledger technology, high remittances in developing countries, high cost of cross-border remittance, fluctuations in monetary regulations, and growth in venture capital investments.

Target Audience:
• Cryptocurrency companies
• Wallets companies
• Cryptocurrency exchanges
• Semiconductor and electronics manufacturers
• Software solutions providers companies
• Banking and finance organizations
• Ecommerce companies
• Research organizations and financial consulting companies
• Angel investors, venture capitalists, private equity firms, and start-up companies
• Market research companies

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“Market for ASICs in cryptocurrency to register highest growth during forecast period”
The cryptocurrency market for ASIC is expected to hold the largest CAGR. ASICs are gradually being preferred by miners. These ASIC machines mine at an extraordinary speed while consuming much less power than FPGA or GPU mining rigs. Several reputed companies, such as Bitmain, Avalon, and Innosilicon Technologies, offer highly efficient ASIC products. Also, ASICs are cryptocurrency mining hardware created solely to solve cryptocurrency blocks. They have only minimal requirements for other computer applications. Such various advantages help ASICs grow at the highest rate in the cryptocurrency market.

“Market for payment application for cryptocurrency registers highest growth during forecast period”
The market for payment through cryptocurrency is likely to register the highest growth during the forecast period. The payment through cryptocurrency has several advantages such as enhanced transactional security, protection from fraud, decentralized system, low fees, protection from consumer charge backs, and quick international transfers. Moreover, a large number of players are investing in developing payment gateways and platform for the payment process of their currencies, thereby increasing adoption of cryptocurrency for the payment.

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“APAC to hold largest share during forecast period”
APAC is notable for its high adoption of cryptocurrency. This is attributed to the low cost of electricity in China and early adoption of cryptocurrency in Japan. China is the largest market among all APAC countries. Owing to the low cost of electricity, ideal weather conditions, presence of big mining companies, such Bitmain, Canaan Creative CO., LTD, and Ebang Communication, and availability of venture capital funding, the market in APAC is expected to be the largest for cryptocurrency.

Breakdown of primary participants’ profile:
• By Company Type: Tier 1 = 30%, Tier 2 = 30%, and Tier 3 = 40%
• By Designation: C-Level Executives = 45%, Directors = 30%, and Others = 25%
• By Region: North America = 30%, Europe = 40%,APAC = 25%, and RoW = 5%

Research Coverage:
Various market segments have been covered in this report. These include application and geography. It also gives a detailed view of the market across 4 main regions: North America, Europe, APAC, and RoW.

Reasons to Buy the Report:
• This report includes statistics pertaining to the Cryptocurrency market in terms of offering, process, type, application,and region, along with their respective market sizes.
• Major drivers, restraints, opportunities, and challenges for the Cryptocurrency market have been provided in detail in this report.
• The report includes illustrative segmentation, analysis, and forecast for the Cryptocurrency market based on its segments and sub segments.

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This release was published on openPR.