Cryptocurrency Market is anticipated to grow at a CAGR of 7.4% during forecast period and estimated to reach USD 2,376 Million by 2027.

Cryptocurrency is also known as a virtual or digital currency and is secured and verified using cryptography, which makes the currency almost impossible to counterfeit or double spend. A cryptocurrency is a form of the digital asset with a primary function to work as a medium of exchange value among the peer-to-peer economic system. Most of the cryptocurrencies are not controlled by any type of central authority and are decentralized by a type of distributed network of the computers that are present across the world and known as nodes. This type of currency can be sent directly among the two parties through the use of public and private keys.

To have an edge over the competition by knowing the market dynamics and current trends of “Cryptocurrency Market,” request for Sample Report here

The global cryptocurrency market is mainly driven by various factors that include the rising adoption of cryptocurrency for payments and other options across several developed and emerging economies. In addition, several R&D activities and various technological advancements for the development of cryptocurrency, such as the implementation of blockchain technology is leading to the enhancement in the cryptocurrency. Moreover, variations in the monetary regulations, an increasing number of cross-border payments along with growing penetration of the internet are some other factors proliferating the growth of the global cryptocurrency market worldwide.

Rising acceptance of cryptocurrency across several application areas and the exceptional advantages associated with the use of the cryptocurrency such as easier international trade, increased adaptability, more confidential transactions, reduced transaction fees along with instant payments are further energizing the demand of the market. The emergence of coronavirus crisis will further boost the demand of the market. The increasing emphasis on using digital currencies, crypto assets, and other blockchain technologies is the key factor propelling the demand of the market. With the growing focus on maintaining social distance, the consumers are preferring contactless payments rather than using physical cash. All these factors are surging the demand of the market. The factors that are responsible for restraining the growth of the global cryptocurrency market include the rising concerns related to the privacy, security & control and lack of technical understanding related to the cryptocurrency.

Do you want to know more about the Research process and detailed Methodology, Request Research Methodology of this report

Based on the type, the bitcoin segment is expected to increase at a higher CAGR during the forecast period owing to the rising adoption of bitcoin across several countries owing to its enhanced versatility. Several advantages of using bitcoin such as user’s autonomy, peer-to-peer focus, discretion, along with the elimination of banking fees and very low transaction fees for the international payments, are further attracting many customers to the market.

Based on the application, the payment segment is anticipated to grow at a higher CAGR over the forecast period owing to the increasing number of payments by using cryptocurrency as a result of its remarkable advantages associated including enhanced protection from the fraud, secured transactions, increased speed of international transfers, and reduced fees.

In case, any of your pain points areas are not covered in the current scope of this report, Request for Customization here

Based on the region, the Asia-Pacific region is expected to grow at a higher compound annual growth rate during the forecast period owing to the rising adoption of cryptocurrency across several countries like China and Japan. In addition to this, a rising number of deals related to the merger & acquisition and crypto-related fundraising activity along with the rising demand for fast peer-to-peer payment options among the consumers are some other factors driving the growth of the cryptocurrency market of this region.

Various notable players operating in the market include Xilinx, BitMain Technologies Holding Company, Quantstamp, Inc., Advanced Micro Devices, Inc., Intel Corporation, Bitfury Group Limited, Ripple, BitGo, Coinbase, and Ethereum Foundation, among others.

Key Developments:

• • In 2019, BitMain Technologies Holding Company planned to launch a new start-up for cryptocurrency financial services, to capitalize on the resurgence of bitcoin.
  • In 2020, Ripple entered into a partnership with Azimo, a European digital money transfer service. Through this partnership, Azimo launched the On-Demand Liquidity service as a part of its remittance capabilities in the Philippines, and the company also planned to expand the use of its On-Demand Liquidity service in the market.

The global cryptocurrency market has been segmented on the basis of offering, process, type, application, and region. Based on the offering, the market is segmented into hardware and software. The hardware segment is further categorized into Gpu, Asic, FPGA, and wallet. The software segment is further categorized into coin wallet, mining platform, and exchange. Based on the process, the market is segmented into transaction and mining. The transaction segment is further categorized into wallet and exchange. The mining segment is further categorized into pool mining, solo mining, and cloud mining. Based on the type, the market is segmented into etgereum (ETH), bitcoin, ripple (XRP), bitcoin cash, litecoin (LTC), dashcoin, and others. Based on the application, the market is segmented into remittance, trading, and payment. The payment segment is further categorized into ecommerce & retail, peer-to-peer payment, travel & tourism, media & entertainment, and others.

For detailed scope of the “Cryptocurrency Market” report request a Sample Copy of the report

Key questions answered in this research report:

• • At what pace is the global cryptocurrency market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global cryptocurrency market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global cryptocurrency market?
  • Which process generated maximum revenues in 2019 and identify the most promising process during the forecast period?
  • What are the various application areas of the cryptocurrency, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Report Coverage	Details
Market Base Year	2019
Market Forecast Period	2020-2027
Market Revenues (2027)	USD 2,376 Million
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Offering, By Process, By Type, By Application, By Region
Regional Coverage	Asia Pacific, Europe, North America, and RoW
Companies Profiled	Xilinx, BitMain Technologies Holding Company, Quantstamp, Inc., Advanced Micro Devices, Inc., Intel Corporation, Bitfury Group Limited, Ripple, BitGo, Coinbase, and Ethereum Foundation, among others; a total of 10 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

Global Cryptocurrency Market by Offering

• • • Hardware
      • Gpu
      • Asic
      • FPGA
      • Wallet
    • Software
      • Coin Wallet
      • Mining Platform
      • Exchange

Global Cryptocurrency Market by Process

• • • Transaction
      • Wallet
      • Exchange
    • Mining
      • Pool Mining
      • Solo Mining
      • Cloud Mining

Global Cryptocurrency Market by Type

• • • Etgereum (ETH)
    • Bitcoin
    • Ripple (XRP)
    • Bitcoin Cash
    • Litecoin (LTC)
    • Dashcoin
    • Others

Global Cryptocurrency Market by Application

• • • Remittance
    • Trading
    • Payment
      • Ecommerce & Retail
      • Peer-To-Peer Payment
      • Travel & Tourism
      • Media & Entertainment
      • Others

Global Cryptocurrency Market by Region

• • • North America Cryptocurrency Market (Option 1: As a part of the free 25% customization)

• • • • By Offering
      • By Process
      • By Type
      • By Application
      • US Market All-Up
      • Canada Market All-Up

• • • Europe Cryptocurrency Market (Option 2: As a part of the free 25% Customization)

• • • • By Offering
      • By Process
      • By Type
      • By Application
      • UK Market All-Up
      • Germany Market All-Up
      • France Market All-Up
      • Spain Market All-Up
      • Rest of Europe Market All-Up

• • • Asia-Pacific Cryptocurrency Market (Option 3: As a part of the free 25% Customization)

• • • • By Offering
      • By Process
      • By Type
      • By Application
      • China Market All-Up
      • India Market All-Up
      • Japan Market All-Up
      • Rest of APAC Market All-Up

• • • RoW Cryptocurrency Market (Option 4: As a part of the free 25% Customization)

• • • • By Offering
      • By Process
      • By Type
      • By Application
      • Brazil Market All-Up
      • South Market All-Up
      • Saudi Arabia Market All-Up
      • UAE Market All-Up
      • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Cryptocurrency Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Xilinx
  • BitMain Technologies Holding Company
  • Quantstamp, Inc.
  • Advanced Micro Devices, Inc.
  • Intel Corporation
  • Bitfury Group Limited
  • Ripple
  • BitGo
  • Coinbase
  • Ethereum Foundation