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Cryptocurrency Market Anticipated to Garner $4.94 Billion By 2030 at 12.8% CAGR | Latest Market Trends and Growth Opportunities | Top Impacting Factors and Key Players’ Analysis
Cryptocurrency Market
As per the report published by Allied Market Research, the global cryptocurrency market is expected to garner $4.94 billion by 2030, registering a CAGR of 12.8% from 2020 to 2027. The report highlights the market potential, market characteristics, growth by segmentation, and competitive landscape.
Pramod Borasi, a Senior Research Analyst, BFSI at Allied Market Research, stated, “Increase in need for transparency in the payment system and surge in flow of remittances from foreign countries have boosted the growth of the global cryptocurrency market. However, dearth of awareness regarding cryptocurrency among people hinders the market players. On the contrary, potential in developing countries is expected to open new opportunities for the market players in the future.”
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COVID-19 Impact Analysis:
• The pandemic disrupted business operations for receiving upgraded equipment and hardware, which are essential for mining operations. This negatively affected the cryptocurrency market in the first phase of global lockdown.
• However, as the number of vaccinated people is increasing, the market is expected to get back on track.
The global cryptocurrency market is analyzed across several regions such as Europe, North America, Asia-Pacific, and LAMEA. The market across Asia-Pacific is expected to manifest the highest CAGR of 14.5% from 2021 to 2030. Moreover, the region is expected to continue its dominance in terms of revenue generation throughout the forecast period.
The global cryptocurrency market is segmented based on offering, process, type, and end user. Based on offering, the software segment would portray the highest CAGR of 14.2% from 2020 to 2027. However, the hardware segment would hold the lion’s share throughout the study period.
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On the basis of process, the transaction segment would register the highest CAGR of 14.6% during the forecast period. However, the mining segment is expected to hold the largest share during the forecast period.
The global cryptocurrency market report includes an in-depth analysis of the major market players such as BitFury Group Limited, Advanced Micro Devices Inc., Coincheck Inc., BTL Group Ltd., Ledger SAS, Intel Corporation, Ripple, Xilinx Inc., NVIDIA Corporation, and Xapo Holdings Limited.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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