Global Cryptocurrency market going through massive enhancement By Industry Components Like Exchanges, Wallets, Payments, Mining With Key Players Bitfinex, BitFury Group, Bitstamp, Coinbase, Coinsecure, Litecoin, OKEX Fintech Company

Cryptocurrency market can be subtly defined as the value of the digital entries in a database that cannot be changed without the fulfillment of the specific defined conditions. It was designed by Satoshi and quoted as a peer-to-peer electronic cash system, which was further realized as an exchange medium that can be electronically created and stored in the blockchain using cryptography to control the creation of additional units. Owing to its limited supply and the potential as an alternative to conventional currency, the technology has gained considerable interests, and is projected to witness CAGR of 56.2% over the forecast period (2017-2025).

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Market Dynamics

Prominent drivers fueling cryptocurrency market growth include the enhanced security through distributed control and utilization of block chain, mainly owing to the limited supply and the growing requirement of intensive infrastructure to mine new units. However, growing number of illegal activities owing to decentralized control, lack of regulatory bodies to efficiently track the transactions, are among the prominent drawbacks of the market growth. Moreover, high volatility of the value over the past few months, outright ban in the countries such as Bangladesh, Thailand, Kyrgyzstan, and Ecuador, are expected to hinder the market growth over the forecast period. Growing popularity of the digital assets is expected to drive the government bodies of major global economies to establish regulatory framework, which would in turn, expected to drive the cryptocurrency market growth across the globe.

Market Taxonomy

This report segments the global cryptocurrency market on the basis of industry components and the Vertical. On the basis of industry components, the global cryptocurrency market is classified into exchanges, wallets, payments, and mining. For detailed analysis of the study, the exchanges have been segmented into small exchanges and large exchanges. Furthermore, wallets are segmented into services offered by registered corporations and volunteer projects; followed by segmentation of the payment into payment rail and cryptocurrency payments. For better understanding of the mining industry component, its ecosystem has been classified into mining pool, hardware, manufacturing, cloud mining services, and remote hosting services. On the basis of the Vertical, cryptocurrency market is segmented into BFSI, retail, media & entertainment, gaming industry, healthcare, travel & tourism, transportation & logistics, and education.

Key features of the study:

- This report provides an in-depth analysis of cryptocurrency market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) over the forecast period (2017 – 2025), considering 2016 as the base year

- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new launches, regional outlook, and competitive strategy adopted by the leading players

- It profiles leading players in the global cryptocurrency market based on the following parameters –company overview, financial performance, business focus, geographical presence, financial performance, key developments and strategies, and future plans

- Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future business propositions, technology up-gradation, market expansion and marketing tactics

- The global cryptocurrency market report caters to various stakeholders in this industry including investors, suppliers, miners, distributors, new entrants, and financial analysts

- Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the cryptocurrency market

Cryptocurrency Market: Competitive Background

Key companies covered as a part of this study include Bitfinex, BitFury Group Limited, Bitstamp Ltd., Coinbase, Coinsecure, Litecoin, OKEX Fintech Company Limited, Poloniex Inc., Ripple, Unocoin Technologies Private Limited, and ZEB IT Service Pvt. Ltd.

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By Vertical:

- BFSI
- Retail
- Media & Entertainment
- Gaming Industry
- Healthcare
- Travel & Tourism
- Transportation & Logistics
- Education

By region:

- North America
- Europe
- Asia Pacific
- Latin America
- Middle East
- Africa

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This release was published on openPR.