Global Cryptocurrency Market Size Worth US$ 32,420 Billion by 2027 with 58.4% CAGR | Market Share, Segmentation, Future Growth & Trends

The latest report by IMARC Group, titled "Cryptocurrency Market Share: Global Industry Trends, Size, Growth, Opportunity and Forecast 2022-2027", offers a comprehensive analysis of the industry, which comprises insights on the global cryptocurrency market. The report also includes competitor and regional analysis, and contemporary advancements in the market. The global cryptocurrency market size reached US$ 1,782 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32,420 Billion by 2027, exhibiting a growth rate (CAGR) of 58.4% during 2022-2027.

Cryptocurrency Industry Definition and Application:

A cryptocurrency, also known as a crypto coin, is a digital currency wherein transactions are verified and recorded by a decentralized system using cryptography. It is an alternative form of payment that is sent using peer-to-peer (P2P) network as a medium of exchange without involving intermediaries and central regulatory authorities. It offers high transactional freedom and uses public ledgers to verify transactions. It also facilitates high privacy, safety, and eliminates the risk of identity theft as the currency is based on different mathematical puzzles that are hard to decode. Besides this, it is more secure than ordinary electronic transactions as it involves the utilization of authenticated security passwords linked directly to the digital wallet of users. In addition, cryptocurrency is associated with low transaction costs and time compared to fiat currencies. It also facilitates high transparency and protection against inflation due to limited supply.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

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Important Attribute and highlights of the Report:

Detailed analysis of the global market share
Market Segmentation
Historical, current, and projected size of the market in terms of volume and value
Latest industry trends and developments
Competitive Landscape
Strategies of major players and product offerings

Global Cryptocurrency Market Trends:

The growing need for independency and the rising need for security in payments represent one of the key factors positively influencing the market. For instance, blockchain maintains a complete history of past transactions within the network, which allows the user to track previous data. In addition, the increasing demand for transparency across financial payment systems in banks, financial services, insurance (BFSI), and other business sectors is creating a positive market outlook. Moreover, the integration of distributed ledger technology to minimize the risk of fraudulent and undesirable transactions on account of the increasing cases of cyber criminal activities and data manipulation in machines is bolstering the market growth. In line with this, the usage of trading applications on mobile devices, such as laptops and smartphones, for fast and easy transactions is facilitating the crypto market international trading.

This, along with the rising penetration of high-speed internet and easy conversion of cryptocurrencies into fiat money, is driving the market. Apart from this, the increasing awareness among individuals about the advantages offered by cryptocurrencies over their traditional counterparts is creating a positive outlook for the market. Furthermore, the emergence of new cryptocurrencies, such as battle infinity, lucky block (LBLOCK), star atlas (ATLAS), is propelling consumers to purchase cryptocurrencies. This, in turn, is providing a thrust to the market growth. In line with this, rising disposable incomes are impelling the market growth. Moreover, continuous investment by leading players in research and development (R&D) activities to build scalable and reliable P2P networks, distributed storage, and computing platforms is anticipated to stimulate the market growth.

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Key Market Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these Cryptocurrency Companies include:

Advanced Micro Devices Inc., Alphapoint Corporation, Bitfury Holding B.V., Coinbase Inc., Cryptomove Inc., Intel Corporation, Microsoft Corporation, Quantstamp Inc. and Ripple Labs Inc.

The report has segmented the market on the basis of region, type, component, process and application.

Breakup by Type:

Bitcoin
Ethereum
Bitcoin Cash
Ripple
Litecoin
Dashcoin
Others

Breakup by Component:

Hardware
Software

Breakup by Process:

Mining
Transaction

Breakup by Application:

Trading
Remittance
Payment
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

Key highlights of the Report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
COVID-19 Impact on the Market
Porter's Five Forces Analysis
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

Preface
Scope and Methodology
Executive Summary
Introduction
Global Market
SWOT Analysis
Value Chain Analysis
Price Analysis
Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.