DUBLIN–(BUSINESS WIRE)–The “Cryptocurrency Market By Offering, Process, Type and End User: Global Opportunity Analysis and Industry Forecast, 2021-2030” report has been added to ResearchAndMarkets.com’s offering.
Cryptocurrency is a form of digital asset based on a network that is distributed across a large number of computers. This decentralized structure allow currencies to exist outside the control of governments and central authorities. Cryptocurrencies are the secured digital representations of value or contractual rights that can be transferred, stored, and traded electronically. It works using blockchain technology that enables the existence of cryptocurrency.
Bitcoin is the name of the best-known cryptocurrency, the one for which blockchain technology was invented. A cryptocurrency is a medium of exchange, such as the U.S. dollar, but is digital and uses encryption techniques to control the creation of monetary units and to verify the transfer of funds. For instance, Tesla, Inc. an American-based company that indulges in the manufacturing of electric vehicles bought $1.5 billion worth of bitcoin on February 8, 2021 to accept it as payment for cars.
Increase in need for operational efficiency and transparency in financial payment systems, rise in demand for remittances in developing countries, increase in the data security, and improvements in capital optimization are the major factors that drive the growth of the global cryptocurrency market. Moreover, high implementation cost and lack of awareness of cryptocurrency among the people in developing nations hamper the growth of the market. Furthermore, increase in demand for cryptocurrency among banks, and financial institutions and untapped potential on emerging economies are expected to provide lucrative opportunities for the market expansion during the forecast period.
The cryptocurrency market is segmented on the basis of offering, process, type, end user and region. By offering, it is fragmented into hardware, and software. The hardware segment is further segmented into ASIC, GPU, FPGA, and others. The ASIC is further segregated into full custom ASIC, semi-custom ASIC, and programmable ASIC. Based on process, it is bifurcated into mining and transaction. By type, it is segmented into bitcoin (BTC), ethereum (ETH), tether (USDT), binance coin (BNB), cardano (ADA), ripple (XRP), and others. By end user, it is classified into trading, retail and e-commerce, banking, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global cryptocurrency system market along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the global cryptocurrency market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2020 to 2030 is provided to determine the market potential.
Market Dynamics
Drivers
- Rise in need for transparency in the payment system
- Increase in flow of remittances from foreign countries
Restraint
- Lack of awareness about cryptocurrency among people
Opportunity
- Untapped potential on emerging economies
Companies Mentioned
- Advanced Micro Devices Inc.
- BitFury Group Limited
- BTL Group Ltd.
- Coincheck Inc.
- Intel Corporation
- Ledger SAS
- NVIDIA Corporation
- Ripple
- Xilinx Inc.
- Xapo Holdings Limited
For more information about this report visit https://www.researchandmarkets.com/r/w9wkp