Cryptocurrency Market to Garner $4.94 Bn, By 2030 at 12.8% CAGR, Globally: Allied Market Research

The growth of the global cryptocurrency market is driven by a rise in need for transparency in the payment system and an increase in flow of remittances from foreign countries.

Wilmington, Delaware, Nov. 20, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Cryptocurrency Market By Offering (Hardware [ASIC, GPU, FPGA, and Others] and Software), Process (Mining and Transaction), Type (Bitcoin [BTC], Ethereum [ETH], Tether [USDT], Binance Coin [BNB], Cardano [ADA], Ripple [XRP], and Others), and End User (Trading, Retail & E-commerce, Banking, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030″. According to the report published by Allied Market Research, the global cryptocurrency market was valued at $1.49 billion in 2020 and is anticipated to garner $4.94 billion by 2030, witnessing a CAGR of 12.8% from 2021 to 2030. 

Request Research Report Sample & TOC: https://www.alliedmarketresearch.com/request-sample/2075  

Report Coverage & Details:  

Report Coverage   Details  
Forecast Period   2021­–2030 
Base Year   2020 
Market Size in 2020  $1.49 billion 
Market Size in 2030  $4.94 billion 
CAGR   12.8%  
No. of Pages in Report   354 
Segments Covered   Offering, Process, Type, End User and Region. 
 Drivers   Rise in Need for Transparency in the Payment System 
Opportunities   Untapped Potential on Emerging Economies 
Restraints   Evolving demographics, rise in consumerism and openness toward new technologies such as IoT, Blockchain, and others provide lucrative opportunities for cryptocurrency across developing nations. 

Drivers, Restraints, and Opportunities 

The growth of the global cryptocurrency market is driven by a rise in need for transparency in the payment system and an increase in flow of remittances from foreign countries. However, lack of awareness about cryptocurrency among individuals hampers the growth to some extent. Nevertheless, untapped potential on emerging economies is expected to offer new opportunities in the near future. 

The Mining Segment to rule the roost By 2030 

By process, the mining segment held nearly two-thirds of the global cryptocurrency market share in 2020, and is projected to dominate the market till 2030, as this process involves validating data blocks and adding transaction records to a public ledger known as blockchain. However, the transaction segment is expected to witness the fastest CAGR of 14.6% during the forecast period, as cryptocurrency transactions allow users to control their money without dealing with an intermediary authority such as a bank or government.  

Request Customization: https://www.alliedmarketresearch.com/request-for-customization/2075 

The Hardware Segment to Retain the Lion’s Share 

By offering, the hardware segment garnered more than three-fourths of the global cryptocurrency market share in 2020, and is anticipated to rule by the end of 2030, owing to increase in need to enhance the efficiency of financial payment tools. The software segment, however, is registered to witness the fastest CAGR of 14.2% throughout the forecast period, as it facilitates managing the huge volume of data being generated for meaningful insights and better-informed decisions. 

Asia-Pacific Held the Dominant Share in 2020 

By region, the Asia-Pacific region held the major share in 2020, generating nearly half of the global cryptocurrency market. The same region is expected to show the fastest CAGR of 14.5% from 2021 to 2030. This is due to the increase in the number of Bitcoin exchanges across Asia, which brings a certain healthy competition in the industry. 

Key Players in the Industry 

  • Ledger SAS Ripple 
  • Advanced Micro Devices Inc. 
  • Xilinx Inc. 
  • Xapo Holdings Limited 
  • BitFury Group Limited 
  • BTL Group Ltd. 
  • Intel Corporation 
  • NVIDIA Corporation 
  • Coincheck Inc. 

 Key Benefits For Stakeholders 

  • This study includes cryptocurrency market analysis, and future estimations to determine the imminent investment pockets. 
  • The report presents information related to key drivers, restraints, and cryptocurrency opportunity. 
  • The cryptocurrency market size is quantitatively analysed from 2020 to 2030 to highlight the financial competency of the industry. 
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the cryptocurrency market trends. 

Inquire Before Buying : https://www.alliedmarketresearch.com/purchase-enquiry/2075  

Cryptocurrency Market Key Segments 

By Offering 

  • Hardware 
  • ASIC 
  • Full Custom ASIC 
  • Semi-custom ASIC 
  • Programmable ASIC 
  • GPU 
  • FPGA 
  • Others 
  • Software 
  • Mining Platform 
  • Exchange 
  • Coin Wallet 

By Process 

  • Mining 
  • Transaction 

By Type 

  • Bitcoin (BTC) 
  • Ethereum (ETH) 
  • Tether (USDT) 
  • Binance Coin (BNB) 
  • Cardano (ADA) 
  • Ripple (XRP) 
  • Others 

By End User 

  • Trading 
  • Retail and E-commerce 
  • Banking 
  • Others 

By Region 

  • North America 
  • U.S. 
  • Canada 
  • Mexico 
  • Europe 
  • UK 
  • Germany 
  • France 
  • Italy 
  • Rest of Europe 
  • Asia-Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Rest of Asia-Pacific 
  • LAMEA 
  • Latin America 
  • Middle East 
  • Africa 

Trending Reports in BFSI Industry (Book Now with 10% Discount + Covid-19 scenario):         

Cryptocurrency Mining Hardware Market by Type (Central Processing Unit, Graphics Processing Unit, Application-Specific Integrated Circuit, Field Programmable Gate Array), by Coin (Bitcoin (BTC), Ethereum (ETH), Tether (USDT), Binance Coin (BNB), Others), by Application (Enterprise, Personal): Global Opportunity Analysis and Industry Forecast, 2023-2032 

Cryptocurrency Hardware Wallet Market by Hardware Component (ASIC, GPU, FPGA, Others), by Security Method (Pin, Two-factor Authentication, Biometric Security, Others), by Type (USB Connectivity Type, Bluetooth Connectivity Type, NFC Connectivity, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031 

Cryptocurrency ATMs Market Size, Share, Competitive Landscape and Trend Analysis Report by Type (One-Way, Two-Way), by ATM Hardware (Display, ATM Printer, QR Scanner, Others), by Type (Bitcoin, Dog Coin, Litecoin, Z-Cash, Dash, Monexo, Ethereum) and by Enterprise Size (Large Enterprise, Small Medium Enterprises): Global Opportunity Analysis and Industry Forecast, 2023-2032 

Marine Insurance Market By Type (Cargo Insurance, Hull & Machinery Insurance, Marine Liability Insurance, and Offshore/Energy Insurance), Distribution Channel (Wholesalers, Retail Brokers, and Others), and End User (Ship Owners, Traders, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2028. 

Travel Insurance Market by Insurance Cover (Single-Trip Travel Insurance, Annual Multi-Trip Travel Insurance, Long-Stay Travel Insurance), by Distribution Channel (Insurance Intermediaries, Insurance Companies, Banks, Insurance Brokers, Insurance Aggregators), by End User (Senior Citizens, Education Travelers, Business Travelers, Family Travelers, Others), by Age Group (1-17 Years Old, 18-30 Years Old, 31-49 Years Old, Above 50): Global Opportunity Analysis and Industry Forecast, 2021-2031. 

About Us: 
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 “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains. 

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 the utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

Contact Us: 
United States 
1209 Orange Street, 
Corporation Trust Center, 
Wilmington, New Castle, 
Delaware 19801 USA. 
Int’l: +1-503-894-6022 
Toll Free: +1-800-792-5285 
Fax: +1-800-792-5285 
help@alliedmarketresearch.com  
Allied Market Research Blog: https://blog.alliedmarketresearch.com 
BFSI Blog 

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. SingaporeOutlook.com takes no editorial responsibility for the same.