Dublin, December 17, 2024 (GLOBE NEWSWIRE) — The “Cryptocurrency – Global Strategic Business Report” report has been added to ResearchAndMarkets.com offer.
The global cryptocurrency market was estimated to reach US$ 1.3 billion in 2023 and is expected to reach US$ 1.8 billion by 2030, growing at a CAGR of 4.8% from 2023 to 2030. This full report provides in-depth analysis of market trends, driving factors. and forecasts, helping you make informed business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in millions of US dollars from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets including the United States, China, Japan, Canada, Europe, Asia Pacific, Latin America, Middle East and Africa.
- Company Profiles: Coverage of major players in the global cryptocurrency market such as Advanced Micro Devices, Inc., Binance Holdings Limited, Bitfinex Group, Bitfury Holding BV, BitGo Inc. and more.
- Free Updates: Receive free report updates for one year to keep you informed of the latest market developments.
What are the key growth drivers of the cryptocurrency market?
The growth of the cryptocurrency market is driven by several factors, including growing interest from institutional and retail investors, technological advancements in blockchain networks, and the growing acceptance of digital currencies by large corporations and governments. The expansion of DeFi applications is also fueling growth, as they provide alternative financial services that operate outside of traditional banking systems. Additionally, increased focus on financial inclusion in developing economies, where cryptocurrencies provide an accessible alternative to conventional banking services, is driving their adoption. The growing demand for decentralized applications (dApps) and the rise of NFTs are further contributing to the expansion of the cryptocurrency market.
How are innovations in blockchain and cryptocurrency technologies driving growth?
Innovations in blockchain technology improve the scalability, security and usability of cryptocurrencies, driving wider adoption. Second-layer solutions, such as Lightning Network, solve the scalability issues of major cryptocurrencies by enabling faster and more profitable transactions. Additionally, decentralized finance (DeFi) platforms built on blockchain networks are democratizing access to financial services such as lending, borrowing, and trading, further increasing the appeal of cryptocurrencies. The rise of stablecoins, linked to traditional currencies, is also attracting users who seek the benefits of cryptocurrency without the volatility typically associated with digital assets.
Which sectors are driving the adoption of cryptocurrencies?
The financial services sector is the main driver of cryptocurrency adoption, as digital assets offer the opportunity for faster, cheaper and more secure cross-border transactions. Additionally, retail investors and traders are increasingly engaging in cryptocurrency markets as they seek portfolio diversification and opportunities for high returns. Large institutional investors, including hedge funds and asset management firms, are also entering this sector, reflecting growing confidence in digital currencies as a legitimate asset class. The rise of non-fungible tokens (NFTs), based on blockchain technology, has expanded the application of cryptocurrencies to the art, gaming and entertainment sectors, thereby boosting demand.
Key information:
- Market Growth: Understand the significant growth trajectory of the cryptocurrency hardware segment, which is expected to reach US$ 1.1 billion by 2030 with a CAGR of 5.0%. The cryptocurrency software segment is also expected to grow at 4.4% CAGR during the analysis period.
- Regional Analysis: Get an overview of the US market, estimated to reach $348.7 million in 2023, and China, which is expected to grow at an impressive CAGR of 4.4% to reach $279.1 million by 2030 Learn about growth trends in other key regions, including Japan, Canada and Germany. , and the Asia-Pacific region.
Key questions answered:
- How is the global cryptocurrency market expected to evolve by 2030?
- What are the key drivers and restraints affecting the market?
- Which market segments will witness the highest growth during the forecast period?
- How will the market shares of different regions and segments evolve by 2030?
- Who are the main market players and what are their prospects?
Some of the 46 companies profiled in this global cryptocurrency market report include:
- Advanced Micro Devices, Inc.
- Binance Holdings Limited
- Bitfinex Group
- Bitfury Holding B.V.
- BitGo Inc.
- Bitmain Technologies Limited
- Bitstamp Ltd
- Canaan Creative CO.,LTD
- Coinbase
- Ethereum Foundation
- Ethereumminer.EU
- Intel Company
- SAS Ledger
- NVIDIA Company
- PandaMiner
- Ripple
- Shark extraction
- Upflow
- Xapo
- Xilinx Inc.
- Zhejiang Ebang Communication Co., Ltd.
Key attributes
| Report attribute | Details |
| Number of pages | 173 |
| Forecast period | 2023-2030 |
| Estimated market value (USD) in 2023 | $1.3 billion |
| Projected market value (USD) by 2030 | $1.8 billion |
| Compound annual growth rate | 4.8% |
| Regions covered | Global |
MARKET OVERVIEW
- Influencer Market Overview
- Global market trajectories
- Impact of COVID-19 and a looming global recession
- Cryptocurrency – Percentage Market Share of Top Global Competitors in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Global Players in 2024 (E)
MARKET TRENDS AND FACTORS
- Growing institutional adoption of cryptocurrencies as investment assets
- Technological innovations in Blockchain networks and decentralized finance (DeFi)
- Growing use of cryptocurrencies for cross-border transactions
- Growing Popularity of Stablecoins to Reduce Volatility
- Expansion of cryptocurrency exchanges and trading platforms
- Growing focus on digital wallets and security solutions
- Growing demand for NFTs (non-fungible tokens) in art and entertainment
- Growing acceptance of cryptocurrencies in e-commerce and retail
- Emerging Interest in Central Bank Digital Currencies (CBDCs)
- Growing Use of Blockchain for Supply Chain Transparency and Efficiency
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