Numerous initiatives and businesses offer goods and services that make it easier for regular people to utilize cryptocurrencies and develop the software framework to run on top of public blockchains, which will further boost the global cryptocurrency market.
Wilmington, Delaware, July 24, 2023 (GLOBE NEWSWIRE) -- According to RationalStat analysis, Global Cryptocurrency Market is estimated at USD 5.8 billion in 2022 and is expected to grow at a significant CAGR of over 14% over the forecast period of 2023-2028
Numerous initiatives and businesses offer goods and services that make it easier for regular people to utilize cryptocurrencies and develop the software framework to run on top of public blockchains, which will further boost the global cryptocurrency market.
Cryptocurrencies can lower or eliminate a variety of transaction and exchange rate fees because they are effectively globalized by being online and not being attached to particular national or corporate organizations. Strong perceptions of the 'revolutionary' development potential in the cryptocurrency sector are anticipated to be influenced by avoiding fees related to established financial institutions.
Market Scope and Report Overview
According to a deep-dive market assessment by RationalStat, the global cryptocurrency market has been analyzed on the basis of market segments, including type, product type, end use, and geography/regions (incl. North India, West & Central India, East India, South India). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2028.
Market intelligence for the global cryptocurrency market covers market sizes on the basis of market value (USD/EUR Million) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
In addition, the long-term sector and products/services 10-year outlook and its implications on the global cryptocurrency market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, and insights, etc.
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Period Covered include data for 2019-2028 along with year-wise demand estimations.
The cryptocurrency market report analyzes the market on the basis of global economic situations, regional geopolitics, import-export scenarios, trade duties, market developments, organic and inorganic strategies, mergers and acquisitions, product launches, government policies, new capacity addition, technological advancements, R&D investments, and new market entry, replacement rates, penetration rates, installed base/fleet size, global and regional production capacity, among others.
RationalStat offers market analysis and consulting studies on the basis of dedicated and robust desk/secondary research supported by a strong in-house data repository. In addition, the research leverages data based on the real-time insights gathered from primary interviews. Market estimations and insights are based on primary research (covering more than 240 entities) and secondary research by leveraging international benchmarking.
The global cryptocurrency market report also covers value chain and supply chain analysis that provides in-depth information about the value chain margins and the role of various stakeholders across the value chain. Market dynamics provided in the market study include market drivers, restraints/challenges, trends, and their impact on the market throughout the analysis period.
In the competition analysis section, the global cryptocurrency market provides a detailed competition benchmarking analysis based on the market share of the leading companies/brands/producers/suppliers, a market structure overview with detailed company profiles of more than 25 players with their financials, product/service offerings, major developments, business models, etc. This enables, clients and report buyers to make strong, precise, and timely decisions.
Macroeconomic Scenario and the Impact of COVID-19 on Regional Economic Sentiment of Global Cryptocurrency Market- Request a Sample
Competition Analysis and Market Structure
These players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the global cryptocurrency market. Mergers & acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global cryptocurrency market include,
- In June 2023, Cryptocurrency exchange Kraken announced that it had acquired cryptocurrency derivatives exchange Crypto Facilities for USD 160 million.
- In June 2023 Cryptocurrency exchange Binance announced that it had launched a new product called Binance Pay, which allows users to make payments with cryptocurrencies
Some of the prominent players that contribute significantly to the cryptocurrency market growth include Bitmain Technologies Ltd, Intel Corporation, Ripple Labs, Inc., BitGo Inc., Coinbase, CoinDesk.com, Ethereum Foundation, Bitfury Group Limited, Nvidia Corporation among others.
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RationalStat has segmented the global cryptocurrency market based on type, product type, end use and region
- Global Cryptocurrency Market Value (USD Million), and Market Share (2023-2028) Analysis by Type
- Hardware
- ASIC (Application-Specific Integrated Circuit)
- GPU (Graphical Programming Units)
- FGPAs (Field-Programmable Gate Arrays)
- Software
- Payments
- Wallets
- Exchanges
- Mining
- Hardware
- Global Cryptocurrency Market Value (USD Million), and Market Share (2023-2028) Analysis by Product Type
- Altcoins
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin (BCH)
- Dogecoin (DOGE)
- Monero (XMR)
- Dash (DASH)
- Others (Ripple, Ether Classic)
- Tokens
- IOTA (MIOTA)
- EOS (EOS)
- Exchange Union (XUC)
- Veritaseum (VERI)
- Ontology (ONT)
- Altcoins
- Global Cryptocurrency Market Value (USD Million), and Market Share (2023-2028) Analysis by End Use
- Trading
- E-commerce & Retail
- Peer-to-Peer Payment
- Banking
- Remittance
- Global Cryptocurrency Market Value (USD Million), and Market Share (2023-2028) Analysis by Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
- Leading Companies and Market Players
- Bitmain Technologies Ltd
- Intel Corporation
- Ripple Labs, Inc.
- BitGo Inc.
- Coinbase
- CoinDesk.com
- Ethereum Foundation
- Bitfury Group Limited
- Nvidia Corporation
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Key Questions Answered in the Cryptocurrency Report:
- What will be the market value of the global cryptocurrency market by 2028?
- What is the market size of the global cryptocurrency market?
- What are the market drivers of the global cryptocurrency market?
- What are the key trends in the global cryptocurrency market?
- Which is the leading region in the global cryptocurrency market?
- What are the major companies operating in the global cryptocurrency market?
- What are the market shares by key segments in the global cryptocurrency market?
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