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NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The "cryptocurrencymarket by type (bitcoin, ethereum, and others), component (hardware and software), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to technavio offering.With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cryptocurrency market from 2022to 2027 is USD 1.81 billion,according to Technavio.Rising investment in digital assetsis a key factor driving market growth.Traditional securities issuance and cross-border transactions often impose significant administrative burdens. Failure to complete the transaction promptly may result in significant additional costs as well as delays. On the other hand, digital assets allow for quick transfer of ownership without the need for hard copies of documents. Furthermore, cryptocurrencies are becoming increasingly popular in the digital asset market due to these characteristics. FinTech is driving innovation in financial markets worldwide and leading to the emergence of digital assets.Hence, these factors are expected to drive market growth during the forecast period.Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and more. Buy the full report here.

Technavio has announced its latest market research report titled Global Cryptocurrency Market 2023-2027

Market Challenge

Volatility in the value of cryptocurrencyis a significant challenge restricting market growth.The value of cryptocurrencies is very volatile. Therefore, low-risk investors do not include cryptocurrencies in their financial portfolios. The fluctuations in value are largely because cryptocurrencies are held by a limited number of people who buy and sell in large quantities on trading platforms and exchanges. Additionally, the absence of transaction fees, position fees, transaction publishing fees, and exchange platform regulations also leads to fluctuations in the value of cryptocurrencies. As a result, people who hold large amounts of cryptocurrency manipulate the value to increase profits without making real investments.Hence, these factors are expected to restrict market growth during the forecast period.

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The cryptocurrency market is segmented by type (bitcoin, ethereum, and others), component (hardware and software), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).

The market share growth by thebitcoinsegmentwill be significant during the forecast period.Bitcoin, the world's most popular cryptocurrency, is gaining popularity globally. Above all, it is designed to be an alternative to traditional. Furthermore, bitcoin is a digital currency that can be transferred peer-to-peer (P2P) without a central authority. Bitcoin currently has the largest market capitalization, more than double that of its closest competitor, Ethereum. A total of 95% of crypto owners and prospective buyers know about Bitcoin. In the US, some 8% are trading in cryptocurrencies. A decentralized system called Blockchain is used to create, store, process, and exchange it.Hence, these factors are expected to drive segment growth during the forecast period.

ViewFree Sample Report for insights into the contribution of all the segments and regional opportunities in the report.

Key Companies in the CryptocurrencyMarket:

Advanced Micro Devices Inc., AlphaPoint Corp., Binance Holdings Ltd., Bitfury Group Ltd., BitGo Inc., BitMain Group, Bitstamp Europe SA, BlockFi Inc., Coinbase Global Inc., ConsenSys Software Inc., iFinex Inc., Intel Corp., KuCoin, Ledger SAS, Microsoft Corp., Money Group Inc., New Bit Ventures Ltd., NVIDIA Corp., Ripple Labs Inc., and Xapo Bank Ltd.

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CryptocurrencyMarket Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 15.81%

Market growth 2023-2027

USD 1.81 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

14.37

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 48%

Key countries

US, China, UK, Germany, and Switzerland

Competitive landscape

Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks

Key companies profiled

Advanced Micro Devices Inc., AlphaPoint Corp., Binance Holdings Ltd., Bitfury Group Ltd., BitGo Inc., BitMain Group, Bitstamp Europe SA, BlockFi Inc., Coinbase Global Inc., ConsenSys Software Inc., iFinex Inc., Intel Corp., KuCoin, Ledger SAS, Microsoft Corp., Money Group Inc., New Bit Ventures Ltd., NVIDIA Corp., Ripple Labs Inc., and Xapo Bank Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.

Customization purview

If our report has not included the data you are looking for, you can reach out to our analysts and get customized segments.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by Component

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers,Challenges, &Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email:media@technavio.comWebsite:www.technavio.com

Global Cryptocurrency Market 2023-2027

Cision

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SOURCE Technavio

Read more:
Cryptocurrency Market to grow by USD 1.81 billion from 2022 to 2027 | Growth Driven by Rising investment in digital assets- Technavio - Yahoo Finance