Cryptocurrency Market Estimated to Reach US$ 4,007 Billion Globally By 2028

IMARC Group, a leading market research company, has recently releases report titled "Cryptocurrency Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global cryptocurrency market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the cryptocurrency market? 

The global cryptocurrency market size reached US$ 2,019 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4,007 Billion by 2028, exhibiting a growth rate (CAGR) of 11.7% during 2023-2028.

What is cryptocurrency?

Cryptocurrency is a digital or virtual currencysecured by cryptography that is used as a medium of exchange. It aids in monitoring transactions and preventing counterfeiting, thereby rendering the currency immune to manipulation and government interference. It can be operated through decentralized networks that are based on blockchain technology and be distributed over computer networks that are connected to a virtual environment. Its utilization ensures enhanced safety and of the currency and quicker payments while eliminating the chances of identity theftas it involves the use of public or private keys that are connected directly to the user's digital wallet.

Request for a free sample copy of this report: https://www.imarcgroup.com/cryptocurrency-market/requestsample

What are the growth prospects and trends in the cryptocurrency industry?

The global market is majorly driven by the rising preference for virtual currencies and convenient financial servicesamong the masses. The utilization of cryptocurrency offers increased adaptability, secured confidentiality and minimal country-to-country transaction fee, which is providing an impetus to the market growth. This is supported by the rapid digitization across numerous industries and the penetration of high-speed internet connectivity on the global level. Moreover, the legalization of purchase, sale or trade of virtual currencies in numerous developed countriesis creating a positive outlook for the market. Along with this, the continual integration of blockchain technology with cryptocurrencies for monitoring the changes being made in real-time during the transactions to reduce the risks of data manipulation andfraudulent or unwanted transactions is acting as a major growth-inducing factor. Some of the other factors contributing to the market growth include the increasing preference for contactless payments and the introduction of bitcoin cash and lite. On account of the aforementioned factors, the market is expected to grow at a CAGR of 11.7% during 2023-2028.

What is included in market segmentation?

The report has segmented the market into the following categories:

Type Insights:

Bitcoin
Ethereum
Bitcoin Cash
Ripple
Litecoin
Dashcoin
Others

Component Insights:

Hardware
Software

Process Insights:

Mining
Transaction

Application Insights:

Trading
Remittance
Payment
Others

Breakup by Region:

North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?

The report covers the major market players including:

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

Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=2546&flag=C

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

Contact US

IMARC Group

134 N 4th St. Brooklyn, NY 11249, USA

USA: +1-631-791-1145 | Asia: +91-120-433-0800

Email: sales@imarcgroup.com

Follow us on Twitter: @imarcglobal

LinkedIn: https://www.linkedin.com/company/imarc-group/mycompany/

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 Group'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.