Cryptocurrency Market to Garner $4.94 Bn, By 2030 at 12.8% CAGR, Globally: Allied Market Research

The growth of the global cryptocurrency market is driven by a rise in need for transparency in the payment system and an increase in flow of remittances from foreign countries.

Wilmington, Delaware, Nov. 20, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Cryptocurrency Market By Offering (Hardware [ASIC, GPU, FPGA, and Others] and Software), Process (Mining and Transaction), Type (Bitcoin [BTC], Ethereum [ETH], Tether [USDT], Binance Coin [BNB], Cardano [ADA], Ripple [XRP], and Others), and End User (Trading, Retail & E-commerce, Banking, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030″. According to the report published by Allied Market Research, the global cryptocurrency market was valued at $1.49 billion in 2020 and is anticipated to garner $4.94 billion by 2030, witnessing a CAGR of 12.8% from 2021 to 2030. 

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Report Coverage & Details:  

Report Coverage   Details  
Forecast Period   2021­–2030 
Base Year   2020 
Market Size in 2020  $1.49 billion 
Market Size in 2030  $4.94 billion 
CAGR   12.8%  
No. of Pages in Report   354 
Segments Covered   Offering, Process, Type, End User and Region. 
 Drivers   Rise in Need for Transparency in the Payment System 
Opportunities   Untapped Potential on Emerging Economies 
Restraints   Evolving demographics, rise in consumerism and openness toward new technologies such as IoT, Blockchain, and others provide lucrative opportunities for cryptocurrency across developing nations. 

Drivers, Restraints, and Opportunities 

The growth of the global cryptocurrency market is driven by a rise in need for transparency in the payment system and an increase in flow of remittances from foreign countries. However, lack of awareness about cryptocurrency among individuals hampers the growth to some extent. Nevertheless, untapped potential on emerging economies is expected to offer new opportunities in the near future. 

The Mining Segment to rule the roost By 2030 

By process, the mining segment held nearly two-thirds of the global cryptocurrency market share in 2020, and is projected to dominate the market till 2030, as this process involves validating data blocks and adding transaction records to a public ledger known as blockchain. However, the transaction segment is expected to witness the fastest CAGR of 14.6% during the forecast period, as cryptocurrency transactions allow users to control their money without dealing with an intermediary authority such as a bank or government.  

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The Hardware Segment to Retain the Lion’s Share 

By offering, the hardware segment garnered more than three-fourths of the global cryptocurrency market share in 2020, and is anticipated to rule by the end of 2030, owing to increase in need to enhance the efficiency of financial payment tools. The software segment, however, is registered to witness the fastest CAGR of 14.2% throughout the forecast period, as it facilitates managing the huge volume of data being generated for meaningful insights and better-informed decisions. 

Asia-Pacific Held the Dominant Share in 2020 

By region, the Asia-Pacific region held the major share in 2020, generating nearly half of the global cryptocurrency market. The same region is expected to show the fastest CAGR of 14.5% from 2021 to 2030. This is due to the increase in the number of Bitcoin exchanges across Asia, which brings a certain healthy competition in the industry. 

Key Players in the Industry 

  • Ledger SAS Ripple 
  • Advanced Micro Devices Inc. 
  • Xilinx Inc. 
  • Xapo Holdings Limited 
  • BitFury Group Limited 
  • BTL Group Ltd. 
  • Intel Corporation 
  • NVIDIA Corporation 
  • Coincheck Inc. 

 Key Benefits For Stakeholders 

  • This study includes cryptocurrency market analysis, and future estimations to determine the imminent investment pockets. 
  • The report presents information related to key drivers, restraints, and cryptocurrency opportunity. 
  • The cryptocurrency market size is quantitatively analysed from 2020 to 2030 to highlight the financial competency of the industry. 
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the cryptocurrency market trends. 

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Cryptocurrency Market Key Segments 

By Offering 

  • Hardware 
  • ASIC 
  • Full Custom ASIC 
  • Semi-custom ASIC 
  • Programmable ASIC 
  • GPU 
  • FPGA 
  • Others 
  • Software 
  • Mining Platform 
  • Exchange 
  • Coin Wallet 

By Process 

  • Mining 
  • Transaction 

By Type 

  • Bitcoin (BTC) 
  • Ethereum (ETH) 
  • Tether (USDT) 
  • Binance Coin (BNB) 
  • Cardano (ADA) 
  • Ripple (XRP) 
  • Others 

By End User 

  • Trading 
  • Retail and E-commerce 
  • Banking 
  • Others 

By Region 

  • North America 
  • U.S. 
  • Canada 
  • Mexico 
  • Europe 
  • UK 
  • Germany 
  • France 
  • Italy 
  • Rest of Europe 
  • Asia-Pacific 
  • China 
  • Japan 
  • India 
  • South Korea 
  • Rest of Asia-Pacific 
  • LAMEA 
  • Latin America 
  • Middle East 
  • Africa 

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About Us: 
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients in making strategic business decisions and achieving sustainable growth in their respective market domains. 

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms the utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high-quality data and help clients in every way possible to achieve success. Each and every piece of data presented in the reports published by us is extracted through primary interviews with top officials from leading companies in the domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. 

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