Report Overview

Global Cryptocurrency Market- Industry Trends & Forecast Report 2028

Global Cryptocurrency Market size was worth USD 1.3 billion in 2021 and is projected to reach USD 2.8 billion by 2028, growing at a CAGR of more than 12% during the forecast period. The adoption of cryptocurrencies has been aided by huge technology developments in a variety of industries, which has been fueling the growth of global cryptocurrency market. Virtual currencies and wallets are becoming increasingly popular, and this trend is expected to continue throughout the period in analysis. Cryptocurrencies are considered very safe for transaction as they are protected by the encryption. They're gaining traction as the most of cryptocurrencies are decentralized and based on blockchain technology. It means a distributed ledger is one that is spread over a network of computers. Hence, increasing popularity of cryptocurrencies and rapid adoption of advanced computer technologies could drive global cryptocurrency market.

Cryptocurrency - Overview

Virtual or digital money is referred to as a cryptocurrency. Cryptocurrency, like other traditional forms of money, may be used as a means of payment. The term "cryptocurrency" is made up of two words: "crypto" and "currency," with "crypto" referring to encryption technology. Cryptocurrency is very safe since it is protected by encryption. They're gaining traction since the majority of cryptocurrencies are decentralized and based on blockchain technology. It means a distributed ledger is one that is spread over a network of computers.

Global Cryptocurrency Market Forecast and Trends

Growth Drivers

Technological Advancements Inducing the Growth

The cryptocurrency market is developing as a result of numerous developments, including a growing desire among individuals to invest in public offerings, increased usage of Wi-Fi, continued penetration of e-payments methods, and an increase of computer graduates and specialists. Several Asian countries, including Japan, Hong Kong, and Singapore, are establishing themselves as financial centers. These regions are home to some of the world's major stock exchanges, fostering cryptocurrency market infrastructure growth.

Increasing Trend and Acceptability Towards Digital Currency

The rising popularity of virtual currencies such as bitcoins, ether, and Litecoins, among others, is fueling the cryptocurrency market's rise. Because of the significant penetration of stock exchanges in country economies and the acceptance of cryptocurrencies by many businesses, cryptocurrency is gaining popularity. Furthermore, central banks in countries such as China and Thailand have begun to recognize it as a means of exchange, boosting its appeal. The cryptocurrency industry is likely to be pushed by the rising popularity of digital currencies in the predicted period.

Restraints

Lack of Guidelines and Regulatory Bodies

Cryptocurrency is built on blockchain technology, which is a distributed ledger that is distributed over a network of computers. As a result, it takes the power from the hands of regulatory bodies like the government or central banks. As a result, cryptocurrencies do not receive acceptance from these institutions. Due to a lack of restrictions, this becomes a big setback for cryptocurrencies, exposing their users to hazards.

Impact of COVID-19 on Global Cryptocurrency Market

Covid-19's breakout and the subsequent pandemic had a mixed impact on the global cryptocurrency market. As China is the leading cryptocurrency market but the coronavirus situation also erupted in this country itself, it has majorly affected the market. However, the current pandemic crisis has created several opportunities for the cryptocurrency market to expand. Many nations have begun to regard cryptocurrency and its many varieties as a viable alternative to the traditional market since it has outperformed it in multiple cases. Experts say that if governments want to boost their economy and restore economic growth, they should use cryptocurrencies.

Global Cryptocurrency Market - By Category

Based on category, the global cryptocurrency market is segmented into bitcoin, ripple, Ethereum, dashcoin, litecoin, and others. Bitcoins are the most well-known of them, and they are employed in a variety of businesses all around the world. Due to several factors such as high transaction security and speedier processing, it has the biggest market share. Other types, like Ether and Ripple, are also gaining traction in a variety of areas, including accountancy, investment, and trading. As a result, they are expected to rise steadily during the projection period.

Global Cryptocurrency Market - By Element

Based on elements, the global cryptocurrency market is segmented into software and hardware. During the forecast period, the software sector is expected to lead the market and increase at a stable rate. Payments, wallets, exchange software, mining software, and other services are available in this area. Payments and wallets are frequently utilized, particularly in the stock and trading markets, since they provide great security. As a result, it is expected to increase at the fastest pace throughout the projection period.

Global Cryptocurrency Market - Regional Insights

Geographically, the global cryptocurrency market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the global cryptocurrency market owing to the regulations and structured laws present in countries such as the United States. Cryptocurrency exchange rules in the United States declare that they are lawful and come under the Bank Secrecy Act's regulatory purview (BSA). However, the Middle East countries such as Saudi Arabia are anticipated to register the highest growth rate during the forecast period.

Competitive Landscape

The leading market players in the global cryptocurrency market are Microsoft Corporation, BitFury Group Limited, Advanced Micro Devices, Ripple Labs Inc., Intel Corporation, NVIDIA Corporation, Coinbase Ltd., AlphaPoint Corporation, Xilinx Inc., BitGo, and other prominent players.

To grow their consumer base and product offerings, market participants are engaging in competitive tactics such as partnerships, acquisitions, and collaborations. For simplicity of use and navigation, the firms are continually updating and innovating their trading and crypto platforms. They're also working together with developers to improve their platforms.

Recent Development

• In March 2022, CrossTower, a US-based crypto exchange platform, announced the launch of its global non-fungible token (NFT) marketplace.
• In March 2022, Chicago Mercantile Exchange (CME) Group announced to offer micro bitcoins and ether options.

Scope of the Report

By Category

• Bitcoin
• Ripple
• Ethereum
• Dashcoin
• Litecoin
• Others

By Elements

• Software
• Hardware

By Methods

• Mining
• Transactions

By End-User

• Banking
• Stock Market & Virtual Currency
• Real Estate
• Others

By Region

• North America
• Europe
• Asia-Pacific (APAC)
• Latin America (LATAM)
• Middle East & Africa (MEA)

1. Research Framework
   1. Research Objective
   2. Category Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Global Cryptocurrency Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Technological Landscape/Recent Development
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Global Cryptocurrency Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Category
         1. Bitcoin
         2. Ripple
         3. Ethereum
         4. Dashcoin
         5. Litecoin
         6. Others
      2. By Elements
         1. Software
         2. Hardware
      3. By Methods
      4. Mining
      5. Transactions
      6. By End-User
         1. Banking
         2. Stock Market & Virtual Currency
         3. Real Estate
         4. Others
      7. By Region
         1. North America
         2. Europe
         3. The Asia Pacific
         4. Latin America
         5. The Middle East and Africa
6. North America Cryptocurrency Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Category
      2. By Elements
      3. By Methods
      4. By End-User
      5. By Country
         1. United States
         2. Canada
7. Europe Cryptocurrency Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Category
      2. By Elements
      3. By Methods
      4. By End-User
      5. By Country
         1. Germany
         2. United Kingdom
         3. Italy
         4. France
         5. Spain
         6. Rest of Europe
8. Asia Pacific Cryptocurrency Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Category
      2. By Elements
      3. By Methods
      4. By End-User
      5. By Country
         1. China
         2. India
         3. Japan
         4. South Korea
         5. Rest of Asia Pacific
9. Latin America Cryptocurrency Market
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
      1. By Category
      2. By Elements
      3. By Methods
      4. By End-User
      5. By Country
         1. Brazil
         2. Mexico
         3. Rest of Latin America
10. Middle East & Africa Cryptocurrency Market
    1. Market Size & Forecast by Value, 2018-2028
       1. By Value (USD Million)
    2. Market Share & Forecast
       1. By Category
       2. By Elements
       3. By Methods
       4. By End-User
       5. By Country
          1. Saudi Arabia
          2. UAE
          3. South Africa
          4. Rest of Middle East & Africa
11. Competitive Landscape
    1. List of Key Players and Their Category
    2. Market Share Analysis, 2021
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Development (Merger, Acquisition, Partnership.)
12. Impact of COVID-19 on Global Cryptocurrency Market Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook) **
    1. Microsoft Corporation
    2. BitFury Group Limited
    3. Advanced Micro Devices
    4. Ripple Labs Inc.
    5. Intel Corporation
    6. NVIDIA Corporation
    7. Coinbase Ltd.
    8. AlphaPoint Corporation
    9. Xilinx Inc.
    10. BitGo
    11. Other Prominent Players
14. Key Strategic Recommendations

List of Figures

Figure 1        Global Cryptocurrency Segmentation

Figure 2        Global Cryptocurrency Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Global Cryptocurrency Market Size, By Value (USD Million), 2018-2028

Figure 5        Global Cryptocurrency Market Share, By Category, By Value, 2018-2028

Figure 6        Global Cryptocurrency Market Share, By Elements, By Value, 2018-2028

Figure 7        Global Cryptocurrency Market Share, By Methods, By Value, 2018-2028

Figure 8        Global Cryptocurrency Market Share, By End-User, By Value, 2018-2028

Figure 9        Global Cryptocurrency Market Share, By Region, By Value, 2018-2028

Figure 10       North America Cryptocurrency Market Size, By Value (USD Million), 2018-2028

Figure 11       North America Cryptocurrency Market Share, By Category, By Value, 2018-2028

Figure 12       North America Cryptocurrency Market Share, By Elements, By Value, 2018-2028

Figure 13       North America Cryptocurrency Market Share, By Methods, By Value, 2018-2028

Figure 14       North America Cryptocurrency Market Share, By End-User, By Value, 2018-2028

Figure 15       North America Cryptocurrency Market Share, By Country, By Value, 2018-2028

Figure 16       Europe Cryptocurrency Market Size, By Value (USD Million), 2018-2028

Figure 17       Europe Cryptocurrency Market Share, By Category, By Value, 2018-2028

Figure 18       Europe Cryptocurrency Market Share, By Elements, By Value, 2018-2028

Figure 19       Europe Cryptocurrency Market Share, By Methods, By Value, 2018-2028

Figure 20       Europe Cryptocurrency Market Share, By End-User, By Value, 2018-2028

Figure 21       Europe Cryptocurrency Market Share, By Country, By Value, 2018-2028

Figure 22       Asia-Pacific Cryptocurrency Market Size, By Value (USD Million), 2018-2028

Figure 23       Asia-Pacific Cryptocurrency Market Share, By Category, By Value, 2018-2028

Figure 24       Asia-Pacific Cryptocurrency Market Share, By Elements, By Value, 2018-2028

Figure 25       Asia-Pacific Cryptocurrency Market Share, By Methods, By Value, 2018-2028

Figure 26       Asia-Pacific Cryptocurrency Market Share, By End-User, By Value, 2018-2028

Figure 27       Asia-Pacific Cryptocurrency Market Share, By Country, By Value, 2018-2028

Figure 28       Latin America Cryptocurrency Market Size, By Value (USD Million), 2018-2028

Figure 29       Latin America Cryptocurrency Market Share, By Category, By Value, 2018-2028

Figure 30       Latin America Cryptocurrency Market Share, By Elements, By Value, 2018-2028

Figure 31       Latin America Cryptocurrency Market Share, By Methods, By Value, 2018-2028

Figure 32       Latin America Cryptocurrency Market Share, By End-User, By Value, 2018-2028

Figure 33       Latin America Cryptocurrency Market Share, By Country, By Value, 2018-2028

Figure 34       Middle East & Africa Cryptocurrency Market Size, By Value (USD Million), 2018-2028

Figure 35       Middle East & Africa Cryptocurrency Market Share, By Category, By Value, 2018-2028

Figure 36       Middle East & Africa Cryptocurrency Market Share, By Elements, By Value, 2018-2028

Figure 37       Middle East & Africa Cryptocurrency Market Share, By Methods, By Value, 2018-2028

Figure 38       Middle East & Africa Cryptocurrency Market Share, By End-User, By Value, 2018-2028

Figure 39       Middle East & Africa Cryptocurrency Market Share, By Country, By Value, 2018-2028

List of Tables

Table 1         Global Cryptocurrency Market Size, By Category, By Value, 2018-2028

Table 2         Global Cryptocurrency Market Size, By Elements, By Value, 2018-2028

Table 3         Global Cryptocurrency Market Size, By Methods, By Value, 2018-2028

Table 4         Global Cryptocurrency Market Size, By End-User, By Value, 2018-2028

Table 5         Global Cryptocurrency Market Size, By Region, By Value, 2018-2028

Table 6         North America Cryptocurrency Market Size, By Category, By Value, 2018-2028

Table 7         North America Cryptocurrency Market Size, By Elements, By Value, 2018-2028

Table 8         North America Cryptocurrency Market Size, By Methods, By Value, 2018-2028

Table 9         North America Cryptocurrency Market Size, By End-User, By Value, 2018-2028

Table 10        North America Cryptocurrency Market Size, By Country, By Value, 2018-2028

Table 11        Europe Cryptocurrency Market Size, By Category, By Value, 2018-2028

Table 12        Europe Cryptocurrency Market Size, By Elements, By Value, 2018-2028

Table 13        Europe Cryptocurrency Market Size, By Methods, By Value, 2018-2028

Table 14        Europe Cryptocurrency Market Size, By End-User, By Value, 2018-2028

Table 15        Europe Cryptocurrency Market Size, By Country, By Value, 2018-2028

Table 16        Asia-Pacific Cryptocurrency Market Size, By Category, By Value, 2018-2028

Table 17        Asia-Pacific Cryptocurrency Market Size, By Elements, By Value, 2018-2028

Table 18        Asia-Pacific Cryptocurrency Market Size, By Methods, By Value, 2018-2028

Table 19        Asia-Pacific Cryptocurrency Market Size, By End-User, By Value, 2018-2028

Table 20        Asia-Pacific Cryptocurrency Market Size, By Country, By Value, 2018-2028

Table 21        Latin America Cryptocurrency Market Size, By Category, By Value, 2018-2028

Table 22        Latin America Cryptocurrency Market Size, By Elements, By Value, 2018-2028

Table 23        Latin America Cryptocurrency Market Size, By Methods, By Value, 2018-2028

Table 24        Latin America Cryptocurrency Market Size, By End-User, By Value, 2018-2028

Table 25        Latin America Cryptocurrency Market Size, By Country, By Value, 2018-2028

Table 26        Middle East & Africa Cryptocurrency Market Size, By Category, By Value, 2018-2028

Table 27        Middle East & Africa Cryptocurrency Market Size, By Elements, By Value, 2018-2028

Table 28        Middle East & Africa Cryptocurrency Market Size, By Methods, By Value, 2018-2028

Table 29        Middle East & Africa Cryptocurrency Market Size, By End-User, By Value, 2018-2028

Table 30        Middle East & Africa Cryptocurrency Market Size, By Country, By Value, 2018-2028

Table 31        Microsoft Corporation Company Overview

Table 32        Microsoft Corporation Financial Overview

Table 33        BitFury Group Limited Company Overview

Table 34        BitFury Group Limited Financial Overview

Table 35        Advanced Micro Devices Company Overview

Table 36        Advanced Micro Devices Financial Overview

Table 37        Ripple Labs Inc Company Overview

Table 38        Ripple Labs Inc Financial Overview

Table 39        Intel Corporation Company Overview

Table 40        Intel Corporation Financial Overview

Table 41        NVIDIA Corporation Company Overview

Table 42        NVIDIA Corporation Financial Overview

Table 43        Coinbase Ltd. Company Overview

Table 44        Coinbase Ltd. Financial Overview

Table 45        AlphaPoint Corporation Company Overview

Table 46        AlphaPoint Corporation Financial Overview

Table 47        Xilinx Inc. Company Overview

Table 48        Xilinx Inc. Financial Overview

Table 49        BitGo Company Overview

Table 50        BitGo Financial Overview