New York, NY, April 12, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Cryptocurrency Market By Type (Bitcoin, Ethereum, Ripple, Litecoin, Dashcoin, Others), By Component (Hardware, Software), By Process (Transaction, Mining), and By End-Users Analysis (Banking, Real Estate, Stock Market & Virtual Currency, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026”.
“According to the research report, the global Cryptocurrency Market was estimated at USD 792.53 Million in 2019 and is expected to reach USD 5,190.62 Million by 2026. The global Cryptocurrency Market is expected to grow at a compound annual growth rate (CAGR) of 30% from 2019 to 2026”.
Cryptocurrency Market: Overview and Definition
Cryptocurrency is a virtual or digital currency. It is the internet-based medium of exchange that conducts financial transactions by using cryptographical functions. Cryptocurrencies support blockchain technology to achieve decentralization and transparency. The cryptocurrency is not controlled by any central authority. Cryptocurrencies can be sent between two parties directly using both private and public keys. The transfers can be made with minimal processing fees, which allows the users to prevent the high fees which traditional financial institutions charge.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What were the pre and post-business impacts of COVID-19 on the Cryptocurrency Market?
2) What is the market size, share of the Cryptocurrency Market?
3) Who are the top market players in Cryptocurrency Market?
4) What will be the future market of the Cryptocurrency Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Cryptocurrency Market: Industry Major Market Players
- Coinbase Inc.
- Unocoin Technologies Private Limited
- Bitfury Group Limited
- Circle Internet Financial Limited
- BitPay Inc
- Ripple Labs Inc.
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Cryptocurrency transaction supports the blockchain technology and cryptography. It provides minimum exchange rates, interest rates, or charges across all transactions globally. These parameters are anticipated to boost the cryptocurrency market over the forecast years. Cryptocurrency leverages blockchain technology. Blockchain digital technology helps to conduct financial transactions. Blockchain supports all types of changes by enhancing transaction processing speed and providing efficiency in real-time processing. Blockchain offers a robust environment for real-time secure data sharing. This may drive the cryptocurrency market in the future years. Cryptocurrency’s legal status varies significantly from country to country and is still undefined or changing in many of them. Although some countries have specifically allowed its use and trade, others have banned or limited it. Further, numerous government agencies, courts, and departments have categorized bitcoin differently. These parameters may hamper the growth of the market. Furthermore, the lack of awareness about cryptocurrency and bitcoin owing to the ban on its advertisement on digital channels like Facebook, Twitter, Bing, etc. may restraints the market growth. To protect data from hackers, to prevent potential fraud, and to reduce the chance of robbing data, many tools are provided by blockchain technology. This may bring lubricant opportunities in the cryptocurrency market. Moreover, the emerging new technology and developments in the market, acceptance of cryptocurrency in the various industries may provide numerous opportunities in the market.
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The cryptocurrency market research report delivers an acute valuation and taxonomy of the cryptocurrency industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the cryptocurrency industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the cryptocurrency industry is provided for the leading economies of the world.
The major type of the global cryptocurrency market includes bitcoin, ethereum, ripple, litecoin, dashcoin, and others. Among these, bitcoin led the market with a major share above 40% in 2019 and it is further expected to continue the trend over the forecasted period.
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Cryptocurrency Market: Key Segments
By End-User analysis, the cryptocurrency market is divided into banking, real estate, stock market & virtual currency, others, Among these, the stock market & virtual currency headed the market in 2019 with more than USD 500 million and it is anticipated to grow in the future years.
On a component basis, the global cryptocurrency market is segregated into hardware and software. Among the components, hardware was the largest segment used in the cryptography market. The hardware segment held the major share of the entire market in 2019. Furthermore, the hardware segment is expected to continue its dominance over the forthcoming years.
Based on the process, the global cryptocurrency market is classified into transactions and mining. Among these, the mining segment held a significant share of the total market nearly 65% in 2019. The mining segment is likely to exhibit lucrative growth in the future years.
By region-wise, Europe region led the market in 2019, with around USD 400 million and it is anticipated to increase over the forecast period.
Browse the full “Cryptocurrency Market By Type (Bitcoin, Ethereum, Ripple, Litecoin, Dashcoin, Others), By Component (Hardware, Software), By Process (Transaction, Mining), and By End-Users Analysis (Banking, Real Estate, Stock Market & Virtual Currency, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” report at https://www.fnfresearch.com/cryptocurrency-market-by-type-bitcoin-ethereum-ripple-litecoin-640
Key Insights from Primary Research
- According to the primary researchers operating in the global cryptocurrency market, the market was valued at around USD 700 million and is expected to be valued at over USD 5,000 million in the future years.
- The cryptocurrency market is predicted to witness a significant growth of nearly 30% during 2020-2026 due to the acceptance of cryptocurrency across various industries.
- By Process, the mining segment held a significant share of the total market nearly 65% in 2019 and it is predicted to grow in the future years owing to providing hardware-specific solutions for cryptocurrency mining.
- By type analysis, the bitcoin category led the market with more than USD 300 million in 2019 attributed to capitalization in the crypto market.
- On the basis of components, the hardware segment held the major share of the entire market that is nearly 70% in 2019. Furthermore, the hardware segment is expected to continue its dominance over the forthcoming years.
- On the basis of End-User analysis, the stock market and virtual currency segment-headed the market with around USD 500 million in 2019 and is anticipated to witness major growth in the forecast period.
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