Chicago, November 8, 2022 (GLOBE NEWSWIRE) — The report “cryptocurrency market By Offer (Hardware (ASIC, GPU, FPGA, Other), Software (Mining Platform, Exchange, Coin Wallet)), Application (Optimization, Machine Learning, Material Simulation), Type (Bitcoin (BTC), Ethereum (ETH) , Tether (USDT), Binance Coin (BNB), Cardano (ADA), Ripple (XRP), Others), End User (Retail & eCommerce, Banking, Others), and Region (North America, Europe, APAC, RoW) – Global forecast to 2028″, it is expected that will grow from $1.5 billion in 2021 and is projected to reach $2.9 billion by 2028; expected to grow at a CAGR of 11.4% from 2021 to 2028.
The market is growing mainly due to the development of distributed ledger technology and the rise of digital venture capital investments. Developing nations are now using digital currency as a means of financial transactions. The growing acceptance of digital currencies such as Bitcoin and Litecoin is anticipated to drive market expansion in the coming years. Blockchain technology is frequently used with digital currency to decentralize and manage efficient transactions. Due to the benefits of blockchain technology and digital currency, companies are investing in cryptocurrencies and working together to provide users with high-quality and effective services, driving the expansion of the market.
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Cryptocurrency Market Report Scope and Segmentation:
| Matrices Report | Details | |
| Market size for available years
|
2022-2028 | |
| Base year considered
|
2021 | |
| forecast period
|
2022-2028 | |
|
Market segmentation |
per component
|
per component
By end user
|
|
By type
|
||
| Covered Regions
|
North America, Europe, APAC, MEA and Latin America | |
| Covered Companies | Advanced Micro Devices Inc., Antier Solutions, BitFury Group Limited, BTL Group Ltd., Coincheck Inc., Intel Corporation, Ledger SAS, NVIDIA Corporation, Ripple, Xilinx Inc., and Xapo Holdings Limited. | |
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Markets N Research lists all the companies in the cryptocurrency market that are currently striving to reduce the impact of the Covid-19 pandemic on the market:
- advanced microdevices inc.
- Yesterday Solutions
- Bit Fury Group Limited
- BTL Group Ltd.
- Coincheck Inc.
- Intel Corporation
- SAS Ledger
- NVIDIA Corporation
- Vibe
- Xilinx Inc.
- Xapo Holdings Limited
recent developments
- In October 2021, the PayPal corporation, which operates online payment systems, will have its headquarters in the United States. He announced that users could use their PayPal accounts to buy and sell Bitcoin and other virtual currencies.
- In June 2021, a digital asset management company called NYDIG Partnered with NCR Corporation to Open Crypto Buyouts to Credit Unions and 650 Banks. The initiative responds to consumer demand for NCR banking who have been buying virtual currency through third-party exchanges.
- In March 2021, Visa Inc. Processed Cryptocurrency Payments on the Ethereum Blockchain directly and with the intention of promoting it as a new payment service. The company hopes that the financial sector will be the first to adopt cryptocurrencies through this important effort.
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Our free sample report consists of the following:
- The introduction, overview and detailed analysis of the industry are included in the 2022 updated report.
- Impact analysis of the COVID-19 pandemic outbreak is included in the package
- Research report of more than 220 pages (including recent research)
- Provide detailed chapter-by-chapter guidance on the Application
- Updated regional analysis with a graphical representation of size, participation and trends for the year 2022
- Includes Updated Tables and Figures
- The latest version of the report includes the leading market players, their business strategies, sales volume, and revenue analysis.
- Markets N Research Methodology
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The software category in the cryptocurrency market is expected to be the fastest growing segment during the forecast period
The software category is projected to grow at the fastest rate during the forecast period as it makes it easier to manage the massive amount of data generated for insightful discoveries and wiser choices. The software market is divided into mining platforms, exchanges, coin wallets and other applications. BeMine, ECOS, shamining, CCG mining, and other programs are examples of cryptographic software. A trading engine is a unique interface that exchange software employs to connect offers and exchanges with derivatives of digital currencies. The platform matches user sales and purchases, giving it the largest market share. There is a good chance that the trading platforms are widely scattered. Wallets, however, come in hardware and software varieties. Software wallets or digital wallets are more popular due to their higher security. Digital wallets are again classified as custodial or self-hosted wallets based on the user’s control over the private key protection feature.
Ripple (XRP) category of the cryptocurrency market will register the highest CAGR from 2022 to 2027
The Ripple (XRP) category is expected to represent the highest CAGR of the cryptocurrency market from 2022 to 2027. Obligations are validated with Ripple. In the network created by ripple, the relationships between creditors and debtors and account balances are accessible to all users. Litecoin has the same technological implementation as Bitcoin but is four times faster, giving it an edge over the cryptocurrency that is expected to dominate the market in the coming years. Other cryptocurrencies such as Dogecoin, Moneor and Dash contribute greatly to the growth of the market.
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Segmentation of the world cryptocurrency market:
World cryptocurrency market: by component
- Hardware
- Software
- mining platform
- Exchange
- Purse
World cryptocurrency market: by process
World cryptocurrency market: by type
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Binance Coin (BNB)
- Cardan (ADA)
- Ripple (XRP)
- Others
World Cryptocurrency Market – By End User
- Retail and eCommerce
- Banking
- Others
Key questions answered in this report:
- What is the leading region of the cryptocurrency market?
- What are the key factors for the growth of the cryptocurrency market?
- What is the main segment in the cryptocurrency market by offer?
- What is the main segment in the cryptocurrency market by type?
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Regional perspectives:
North America is projected to grow at a significant rate in cryptocurrency market share from 2022 to 2027
North America is estimated to be the fastest growing region in the cryptocurrency market, as most of the region viewed bitcoin as a tax-related medium of exchange rather than a form of money. Many wealthy nations continue to emphasize the use of digital money, even though the government has no legal restrictions on it. The market is expanding due to the acceptance of digital currency by consumers and merchants. Furthermore, the market in North America is dominated by the prevalence of bitcoin mining and the presence of the biggest companies.
Table of Contents:
Chapter 1 Preface
1.1 Scope and description of the report
1.1.1 Purpose of the study
1.1.2 Target audience
1.1.3 USP and key offerings
1.2 Key benefits for stakeholders
1.3 Scope of the Report
Chapter 2 Summary of the report
2.1 Key findings
2.1.1 Main investment pockets
2.2 Market Landscape: Global Cryptocurrency Market
2.3 Global Cryptocurrency Market, 2018 – 2028 (US$ Mn)
Chapter 3 Impact analysis of COVID 19
3.1 Impact assessment of the COVID-19 pandemic, by region
3.1.1 North America: Impact of the COVID-19 pandemic
3.1.2 Europe: Impact of the COVID-19 pandemic
3.1.3 Asia Pacific: Impact of the COVID-19 pandemic
3.1.4 Latin America: Impact of the COVID-19 pandemic
3.1.5 Middle East and Africa: impact of the COVID-19 pandemic
3.2 Key strategies undertaken by companies to face COVID-19
3.3 Quarterly Market Revenue by Region 2021 and 2022
3.4 Pre COVID-19 Market Revenue, by Region, 2016-2019 (Million USD)
3.5 Post-COVID-19 Market Revenue, by Region, 2020-2028 (USD Million)
3.6 Short-term dynamics
3.7 Long-term dynamics
Chapter 4 Global Cryptocurrency Market, By Component Segment Analysis
4.1 Cryptocurrency Market Overview, by Component Segment
4.1.1 Global Cryptocurrency Market Revenue Share, by Component, 2022 and 2028 (Value, %)
4.2 Software
4.2.1 Cryptocurrency Stocks Forecast, by Region (Million USD)
4.2.2 Comparative analysis of income, by country, 2021 and 2028
4.2.3 Key Market Trends, Growth Drivers, and Opportunities
OCD Continue…!
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