Cryptocurrency Market to grow by USD 1.81 billion from 2022 to 2027 | Growth Driven by Rising investment in digital assets- Technavio
NEW YORK, Sept. 14, 2023 /PRNewswire/ -- The "cryptocurrency market by type (bitcoin, ethereum, and others), component (hardware and software), and geography (North America, Europe, APAC, South America, and Middle East and Africa) - Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cryptocurrency market from 2022 to 2027 is USD 1.81 billion, according to Technavio. Rising investment in digital assets is a key factor driving market growth. Traditional securities issuance and cross-border transactions often impose significant administrative burdens. Failure to complete the transaction promptly may result in significant additional costs as well as delays. On the other hand, digital assets allow for quick transfer of ownership without the need for hard copies of documents. Furthermore, cryptocurrencies are becoming increasingly popular in the digital asset market due to these characteristics. FinTech is driving innovation in financial markets worldwide and leading to the emergence of digital assets. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and more. Buy the full report here.
Volatility in the value of cryptocurrency is a significant challenge restricting market growth. The value of cryptocurrencies is very volatile. Therefore, low-risk investors do not include cryptocurrencies in their financial portfolios. The fluctuations in value are largely because cryptocurrencies are held by a limited number of people who buy and sell in large quantities on trading platforms and exchanges. Additionally, the absence of transaction fees, position fees, transaction publishing fees, and exchange platform regulations also leads to fluctuations in the value of cryptocurrencies. As a result, people who hold large amounts of cryptocurrency manipulate the value to increase profits without making real investments. Hence, these factors are expected to restrict market growth during the forecast period.
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The cryptocurrency market is segmented by type (bitcoin, ethereum, and others), component (hardware and software), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
View Free Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Cryptocurrency Market:
Advanced Micro Devices Inc., AlphaPoint Corp., Binance Holdings Ltd., Bitfury Group Ltd., BitGo Inc., BitMain Group, Bitstamp Europe SA, BlockFi Inc., Coinbase Global Inc., ConsenSys Software Inc., iFinex Inc., Intel Corp., KuCoin, Ledger SAS, Microsoft Corp., Money Group Inc., New Bit Ventures Ltd., NVIDIA Corp., Ripple Labs Inc., and Xapo Bank Ltd.
The Security Analytics Market size is estimated to grow at a CAGR of 10.15% between 2022 and 2027. The market size is forecast to increase by USD 6,512.26 million.
The banking, financial services, and insurance (BFSI) security market size is estimated to grow at a CAGR of 11.13% between 2022 and 2027.
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Type
Market Segmentation by Component
Market Segmentation by Geography
Drivers, Challenges, & Trends
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 across 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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