TMCnet News
Cryptocurrency Market by Offering, Process, Type, End User And Geography - Global Forecast to 2023NEW YORK, Oct. 17, 2017 /PRNewswire/ -- "Cryptocurrency market is expected to grow at a CAGR of 32.31% between 2017 and 2023" The cryptocurrency market was valued at USD 541.0 million in 2017 and is expected to reach USD 2,902.0 million by 2023, at a CAGR of 32.31% between 2017 and 2023. The growing remittance in developing countries, high cost of remittance across the border, and fluctuating monetary regulations are the major drivers for the growth of the cryptocurrency market. The growth of the cryptocurrency market is further propelled by the transparency and immutability of the distributed ledger technology and benefits such as faster transaction and reduction in total ownership cost. However, the uncertain regulations and standards pertaining to cryptocurrency restrain the growth of this market. "Cryptocurrency market in APAC is expected to grow at the highest rate between 2017 and 2023" Because of the low cost of electricity, suitable climate (especially in Northern China), presence of big electronics manufacturing units, and availability of venture capital funding, the market in China is expected to grow at the highest rate during the forecast period. Besides, Japan has the highest level of awareness and knowledge of cryptocurrency. The government regulations in Japan are also favorable for cryptocurrency transactions. All these factors would help drive the growth of the market in APAC at the highest CAGR during the forecast period. In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profile of primary participants has been given below. • By Company Type: Tier 1—40%, Tier 2—20%, and Tier 3—40% • By Designation: C-Level Executives—40%, Directors—40%, and Others (Sales, Marketing, and Product Managers)—20% • By Region: North America—40%, Europe—40%, APAC—10%, and RoW—10% The companies covered in the cryptocurrency market are Intel Corporation (US), NVIDIA Corporation (US), Microsoft Corporation (US), Xilinx, Inc. (US), Advanced Micro Devices, Inc. (US), AlphaPoint Corporation (US), Amazon.com, Inc.(US), BitGo,(US), BTL Group Ltd.(Blockchain Tech) (Canada), BitFury Group (US), Coinbase UK, Ltd. (US), 21 Inc. (US), and Ripple Labs Inc. (US). Research Coverage The cryptocurrency market has been segmented on the basis of offering, process, type, end user, and region. The market has been segmented on the basis of offering into hardware and software. On the basis of process, the market has been segmented into mining and transaction. On the basis of type, the market is segmented into Bitcoin, Ethereum, Ripple (XRP), Litecoin, Dashcoin, and others. The market has been segmented on the basis of end user into peer-to-peer payment, remittance, e-commerce and retail, media and entertainment, and others. Reasons to Buy the Report: The report would help the market leaders/new entrants in this market in the following ways: 1. This report segments the cryptocurrency market comprehensively and provides the closest approximations of the size of the overall market and its subsegments for various applications and across different regions. 2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities pertaining to the market. Read the full report: https://www.reportlinker.com/p05147401 About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. https://www.reportlinker.com __________________________ Contact Clare: [email protected] US: (339)-368-6001 Intl: +1 339-368-6001 View original content:http://www.prnewswire.com/news-releases/cryptocurrency-market-by-offering-process-type-end-user-and-geography---global-forecast-to-2023-300538433.html SOURCE Reportlinker 
|