Global Cryptocurrency Market Outlook, Opportunities And Strategies
Learn about the global cryptocurrency market through The Business Research Company, which provides information on cryptocurrency market size, cryptocurrency market drivers and restraints, cryptocurrency market players, the COVID-19 impact on the cryptocurrency market, and more.
The global cryptocurrency market is expected to grow from $1.44 billion in 2020 to $1.63 billion in 2021 at a compound annual growth rate (CAGR) of 12.9%. The change in growth trend of the cryptocurrency market is mainly due to the companies stabilizing their output after catering to the demand that grew exponentially during the COVID-19 pandemic in 2020. The cryptocurrency market is expected to reach $2.73 billion in 2025 at a CAGR of 13.8%.
Transparency in financial payment is expected to drive cryptocurrency manufacturing, thus driving the market during the forecast period.
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The cryptocurrency market consists of sales of digital or virtual currencies by entities (organizations, sole traders, and partnerships) that operate independently of a central bank and employ encryption techniques to regulate the formation of their units and verify the transfer of payments. Cryptocurrencies are digital currencies that are protected by encryption, making counterfeiting or double-spending practically impossible. These are built on decentralized networks like blockchain technology, which is a distributed ledger enforced by a network of computers. Cryptocurrencies, as compared to traditional currency, are not issued by any central authority, making them potentially impervious to government meddling or manipulation.
Global cryptocurrency market segments include:
By Type: Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others
By Process: Mining, Transaction
By Offering: Hardware, Software
By End User: Trading, Retail And E-Commerce, Banking, Others
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the cryptocurrency market in 2020.
Stable coins are gaining significant popularity in the cryptocurrency market. Stable coins are cryptocurrencies that are linked to a physical asset, such as government-issued currency or a commodity to reduce cryptocurrency fluctuation.
TBRC’s cryptocurrency market report covers:
Major Market Players: Advanced Micro Devices Inc., BitFury Group Limited, BTL Group Ltd., Coincheck Inc., Intel Corporation, Ledger SAS, Nvidia Corporation, Ripple, Xilinx Inc., Xapo, BitGo, Binance, Coinbase Global Inc., CoinDesk, and Bitmain Technologies Ltd.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2015-20) and ten years forecast (2021-2025-2030)
The Cryptocurrency Global Market Report 2021: COVID-19 Implications And Growth to 2030 is one of a series of new reports from The Business Research Company that provides cryptocurrency market overviews, analyzes and forecasts market size, share, cryptocurrency market players, cryptocurrency market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s cryptocurrency market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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