Cryptocurrency Market Size to Grow by USD 1.47 Bn, Bitcoin Segment to be the Largest Revenue-generating Type Segment – Technavio – Yahoo Finance
NEW YORK, Oct. 24, 2022 /PRNewswire/ — The cryptocurrency market share growth in the bitcoin segment will be significant during the forecast period. Bitcoin is a digital currency that can be transferred peer-to-peer (P2P) without central authorities. It is created, stored, processed, and shared using a distributed decentralized system known as the blockchain. The public ledger records all bit…….
NEW YORK, Oct. 24, 2022 /PRNewswire/ — The cryptocurrency market share growth in the bitcoin segment will be significant during the forecast period. Bitcoin is a digital currency that can be transferred peer-to-peer (P2P) without central authorities. It is created, stored, processed, and shared using a distributed decentralized system known as the blockchain. The public ledger records all bitcoin transactions, and copies are kept on all servers across the world. Therefore, with the rising popularity of bitcoin, the market is expected to witness significant growth during the forecast period.
Technavio has announced its latest market research report titled Global Cryptocurrency Market 2022-2026
The “Cryptocurrency Market by Type (Bitcoin, Ethereum, and Others) and Geography (North America, Europe, APAC, South America, and Middle East and Africa) – Forecast and Analysis 2022-2026” report has been added to Technavio’s offering. The potential growth difference for the cryptocurrency market size between 2021 and 2026 is USD 1.47 bn. To get the exact CAGR and the Y-O-Y growth rate, Buy the Full Report
Market Segmentation:
47% of the market’s growth will originate from North America during the forecast period. The US is the key market for the cryptocurrency market in North America. The increase in blockchain investments will facilitate the cryptocurrency market’s growth in North America over the forecast period.
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Key Market Dynamics:
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Market Driver – Rising investment in digital assets is one of the key drivers fueling the cryptocurrency market’s growth. Digital assets allow rapid transfer of ownership without the need for paper copies or any paperwork. For instance, the owner of a digital asset can quickly transfer ownership to a new owner or buyer when the asset is purchased through NFT. Cryptocurrencies are becoming more popular in the global market for digital assets as a result of these characteristics. As many people interact with digital assets every day, from investing in crypto as a digital asset to digitizing their existing investment assets, digital assets have become integrated into the existing network of traditional financial markets. Therefore, the rising investment in digital assets is expected to boost the growth of the market during the forecast period.
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Market Challenges – Rate volatility is one of the factors limiting the cryptocurrency market’s growth. Crypto miners perform calculations using mining hardware solutions to mine cryptocurrencies, such as Bitcoin. The valuation of cryptocurrencies depends significantly on their uniqueness and the perceptions of related owners and buyers, as well as the availability of distribution channels. Therefore, it is extremely difficult for a new seller to predict the identity of the next cryptocurrency buyer or the possible factors that may favor or influence the purchase. Therefore, the price of cryptocurrency basically depends on how buyers perceive its value, which leads to fluctuations. Thus, fluctuating prices may hinder market growth during the forecast period.
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Cryptocurrency Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2021 |
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Forecast period |
2022-2026 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.75% |
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Market growth 2022-2026 |
USD 1.47 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
14.45 |
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Regional analysis |
North America, Europe, APAC, South America, and Middle East and Africa |
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Performing market contribution |
North America at 47% |
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Key consumer countries |
US, China, UK, Germany, and Switzerland |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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Companies profiled |
Advanced Micro Devices Inc., AirSwap, ALCHEMINERS LLC, AlphaPoint Corp., Binance Services Holdings Ltd., Bitfury Group Ltd., BitGo Inc., Bitstamp Europe SA, BlockFi Inc., Coinbase Global Inc., Huobi Group, iFinex Inc., Intel Corp., KuCoin, Microsoft Corp., Money Group Inc., New Bit Ventures Ltd., NVIDIA Corp., Ripple Labs Inc., and Xapo Bank Ltd. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Type
6 Customer Landscape
7 Geographic Landscape
8 Drivers, Challenges, and Trends
9 Vendor Landscape
10 Vendor Analysis
11 Appendix
About Us
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 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.
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Global Cryptocurrency Market 2022-2026
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SOURCE Technavio
