Global Cryptocurrency Market

Global Cryptocurrency Market by Offering (Hardware, and Software), By Process (Mining and Transaction), By Type (Bitcoin, Etgereum (ETH), Bitcoin Cash, Ripple (XRP), Dashcoin, Litecoin (LTC) and Others), By Application (Trading, Remittance, Payment, Media and Entertainment, Travel and Tourism and Others), and By Region (North America, Europe, Asia Pacific, South America, Middle East, and Africa)

Global Cryptocurrency Market Overview:

Cryptocurrency is a type of digital currency (or virtual currency) that exists only on a computer network called the blockchain on the Internet. They are virtual currencies that scattered outside traditional banks but can still trade like other currencies. Bitcoin, in 2009, became the first decentralized encryption currency, multi-currency after this term refers to encrypt such designs. Since then, several similar cryptocurrencies have created and referred to as altcoins. Cryptocurrencies are dependent on a decentralized consensus mechanism, as opposed to financial banking systems that rely on a centralized regulatory system. Cryptocurrencies other than Bitcoin, also known as altcoins, are partially generated by referring to Bitcoin’s ideas, principles, and source code. There are more than 800 cryptocurrencies, similar to Bitcoin. Unlike the centralized banking system, most cryptocurrencies are in a decentralized form and distributed computer system networks (also called nodes) running around the world.

Global Cryptocurrency Market Insights

Global Cryptocurrency Market estimated to grow with a momentous rate over the forecast period, 2020-2027. The rising need for secured and decentralized digital payments is responsible for the mounting demand of digital currencies are vital factors expected to drive the global cryptocurrency market in the future timeframe. Additionally, the benefits of cryptocurrency include low ownership cost, safer, and quicker transactions, thus augmenting the global cryptocurrency market in the upcoming periods. Moreover, the properties of cryptocurrency, like transparency, low ownership cost, and the technological advancement in the distributed ledger, will accelerate the global cryptocurrency market. The rise in cross-border remittance transfer coupled with the surge in demand for the digital currencies projected to foster the global cryptocurrency market in the future time. Furthermore, the upsurge in demand for cryptocurrency from various industries such as financial services, consumer or industrial products, technology, healthcare, public sector, etc. anticipated to boost the global cryptocurrency market. The Cryptocurrencies aspire to be a new form of currency and promise to maintain the trust and stability of their value through the use of technology. It consists of three elements, such as a set of protocols for the transaction, distributed ledger storing the history of transactions, and participants of the network user.

Growth Driver

The surge in demand for safer international transactions

In modern times, the tried, trusted, and resilient way to provide confidence in money is the independent central bank. The Independent central banks have largely achieved the goal of safeguarding society’s economic and political interest in a stable currency. Cryptocurrency uses encryption to verify transactions. The encryption aims to provide security and safety. Cryptocurrency gives advanced coding to storing and transmitting cryptocurrency data between wallets and to public ledgers.

Transparency of distributed ledger technology

The technological challenges in the digital peer-to-peer exchange are the double-spending problem. The cryptocurrencies have overcome the double-spending problem via decentralized record-keeping with a distributed ledger. The distributed ledger can call as a file. Through distributed ledger, peer-to-peer exchange of digital money is feasible, such as each user can directly check-in their copy of the ledger whether a transfer took place and that there was no attempt to double-spend.

Offering Segmental Analysis

Based on offering, the global cryptocurrency market bifurcated into Hardware, and Software. The Hardware segment anticipated to gain a significant share in the market by 2027, as used to validate the transactions made by users. The Hardware includes FPGA, GPU, ASIC, and Wallet. The software segment will drive by its application to enables companies to utilize crypto assets through purchase and trading.

Process Segmental Analysis

Based on the process, the global cryptocurrency market bifurcated into Mining and Transaction. The mining segment predicted to dominate as mining is the significant step in the generation, transmission, and validation of transactions of cryptocurrency.

Type Segmental Analysis

Based on type, the global cryptocurrency market classified into Bitcoin, Etgereum (ETH), Bitcoin Cash, Ripple (XRP), Dashcoin, Litecoin (LTC) and others. The Bitcoin segment estimated to dominate due to benefits provided by bitcoin such as proof of stake (PoS), electronic cash, and smart contract technology. Bitcoin is a form of digital currency that allows performing transactions without the need for a central bank. Etgereum (ETH) segment will grow by benefits such as elimination of possibilities of fraud, corruption and makes the network tamper-proof.

Application Segmental Analysis

Based on application, the global cryptocurrency market categorized into Trading, Remittance, Payment, Media and Entertainment, Travel and Tourism, and Others. Payment segment expected to gain maximum revenue by 2027 owing to its benefits such as enhanced transactional security, protection from fraud, decentralized system, low fees, protection from consumer chargebacks, and quick international transfers. The remittance segment will propel as cryptocurrency helps in the faster transaction and eliminating the intermediary’s fees.

Region Segmental Analysis

Based on geography, the global Cryptocurrency market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. Europe estimated to occupy the lion’s market share by 2027 on account of higher acceptance from countries such as Germany, and these countries have higher adoption of cryptocurrency as a result of the presence of several mining vendors. North America will drive by the growing awareness regarding cryptocurrency in developed countries like the USA, coupled with the rising adoption of cryptocurrency in various industries, including BFSI, government, retail, etc.

Competitor Analysis

Companies such as Bitmain, NVIDIA Corporation, Xilinx, Intel, Advanced Micro Devices, Ripple Labs, Ethereum Foundation, Bitfury Group, Coinbase, BitGo, Microsoft Corporation, Intel Corporation, and Binance Holdings are the key players in the Global Cryptocurrency Market.

Key Stakeholders

  • Market research and consulting firms
  • Industry associations
  • Global Cryptocurrency services providing companies
  • Research organizations and consulting companies
  • Organizations, associations, and alliances related to Cryptocurrency
  • Regulatory bodies

The objective of the Research

  • Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
  • Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis conducted to understand potential buyers and measure competition in the market.
  • Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
  • Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics.
  • The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs, wants, and cultural characteristics that can specifically target.

Market Modelling

By Offering
  • Hardware
  • Software
By Process
  • Mining
  • Transaction
By Type
  • Bitcoin
  • Etgereum (ETH)
  • Bitcoin Cash
  • Ripple (XRP)
  • Dashcoin
  • Litecoin (LTC)
  • Others
By Application
  • Trading
  • Remittance
  • Payment
  • Media and Entertainment
  • Travel and Tourism
  • Others
 By Region
  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa
 

Global Cryptocurrency Market

Report Content

  1. Research Strategic Development
    • Market Modelling
    • Product Analysis
    • Market Trend and Economic Factors Analysis
    • Market Segmental Analysis
    • Geographical Mapping
    • Country Wise Segregation
  2. Research Methodology
    • Identification of Target Market
    • Data Acquisition
    • Refining of Data/ Data Transformations
    • Data Validation through Primary Techniques
    • Exploratory Data Analysis
    • Graphical Techniques/Analysis
    • Quantitative Techniques/Analysis
    • Visual Result/Presentation
  3. Executive Summary
  4. Market Insights
    • Economic Factor Analysis
      • Drivers
      • Trends
      • Opportunities
      • Challenges
    • Technological Landscape
    • Competitors & Product Analysis
    • Regulatory Framework
    • Company market share analysis, 2019
    • Porter’s Five forces analysis
    • New Investment Analysis
    • PESTEL Analysis
  5. Global Cryptocurrency Market Overview
    • Market Size & Forecast, 2016-2027
      • By Value (USD Million)
    • Market Share & Forecast, 2016-2027
      • By Offering
        • Software
        • Hardware
      • By Process
        • Mining
        • Transaction
      • By Type
        • Bitcoin
        • Etgereum (ETH)
        • Bitcoin Cash
        • Ripple (XRP)
        • Dashcoin
        • Litecoin (LTC)
        • Others
      • By Technology
        • Trading
        • Remittance
        • Payment
        • Media and Entertainment
        • Travel and Tourism
        • Others
      • By Region
        • Europe
        • North America
        • Asia Pacific
        • South America
        • Middle East & Africa
  1. Europe Cryptocurrency Market Overview
    • Europe Cryptocurrency Market Size & Forecast, 2016-2027
      • By Value (USD Million)
    • Europe Cryptocurrency Market Share & Forecast, 2016-2027
      • By Offering (Hardware, and Software)
      • By Process (Mining and Transaction)
      • By Type (Bitcoin, Etgereum (ETH), Bitcoin Cash, Ripple (XRP), Dashcoin, Litecoin (LTC) and Others)
      • By Application (Trading, Remittance, Payment, Media and Entertainment, Travel and Tourism and Others)
      • By Country
        • Germany
        • UK
        • France
        • Italy
        • Rest of Europe
      • Company Market Share (Top 3-5)
      • Economic Impact Study on Europe Cryptocurrency Market
  1. North America Cryptocurrency Market Overview
    • North America Cryptocurrency Market Size & Forecast, 2016-2027
      • By Value (USD Million)
    • North America Cryptocurrency Market Share & Forecast, 2016-2027
      • By Offering (Hardware, and Software)
      • By Process (Mining and Transaction)
      • By Type (Bitcoin, Etgereum (ETH), Bitcoin Cash, Ripple (XRP), Dashcoin, Litecoin (LTC) and Others)
      • By Application (Trading, Remittance, Payment, Media and Entertainment, Travel and Tourism and Others)
      • By Country
        • US
        • Canada
        • Mexico
      • Company Market Share (Top 3-5)
      • Economic Impact Study on North America Cryptocurrency Market
  1. Asia Pacific Cryptocurrency Market Overview
    • Asia Pacific Cryptocurrency Market Size & Forecast, 2016-2027
      • By Value (USD Million)
    • Asia Pacific Cryptocurrency Market Share & Forecast, 2016-2027
      • By Offering (Hardware, and Software)
      • By Process (Mining and Transaction)
      • By Type (Bitcoin, Etgereum (ETH), Bitcoin Cash, Ripple (XRP), Dashcoin, Litecoin (LTC) and Others)
      • By Application (Trading, Remittance, Payment, Media and Entertainment, Travel and Tourism and Others)
      • By Country
        • China
        • India
        • Japan
        • Australia
        • Rest of Asia Pacific
      • Company Market Share (Top 3-5)
      • Economic Impact Study on Asia Pacific Cryptocurrency Market
  1. South America Cryptocurrency Market Overview
    • South America Cryptocurrency Market Size & Forecast, 2016-2027
      • By Value (USD Million)
    • South America Cryptocurrency Market Share & Forecast, 2016-2027
      • By Offering (Hardware, and Software)
      • By Process (Mining and Transaction)
      • By Type (Bitcoin, Etgereum (ETH), Bitcoin Cash, Ripple (XRP), Dashcoin, Litecoin (LTC) and Others)
      • By Application (Trading, Remittance, Payment, Media and Entertainment, Travel and Tourism and Others)
      • By Country
        • Brazil
        • Argentina
        • Rest of South America
      • Company Market Share (Top 3-5)
      • Economic Impact Study on South America Cryptocurrency Market
  1. Middle East & Africa Cryptocurrency Market Overview
    • Middle East & Africa Cryptocurrency Market Size & Forecast, 2016-2027
      • By Value (USD Million)
    • Middle East & Africa Cryptocurrency Market Share & Forecast, 2016-2027
      • By Offering (Hardware, and Software)
      • By Process (Mining and Transaction)
      • By Type (Bitcoin, Etgereum (ETH), Bitcoin Cash, Ripple (XRP), Dashcoin, Litecoin (LTC) and Others)
      • By Application (Trading, Remittance, Payment, Media and Entertainment, Travel and Tourism and Others)
      • By Country
        • Saudi Arabia
        • UAE
        • South Africa
        • Rest of Middle East & Africa
      • Company Market Share (Top 3-5)
      • Economic Impact Study on Middle East & Africa Cryptocurrency Market
  1. Competitor Analysis
    • Company Description
    • Financial Analysis
    • Key Products
    • Key Management Personnel
    • Contact Address
    • SWOT Analysis
    • Company Profile
      • Bitmain
      • NVIDIA Corporation
      • Xilinx
      • Intel
      • Advanced Micro Devices
      • Ripple Labs
      • Ethereum Foundation
      • Bitfury Group
      • Coinbase
      • BitGo
      • Microsoft Corporation
      • Intel Corporation
      • Binance Holdings
      • Other Prominent Players

 

 

 

 

 

 

 

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