Global Cryptocurrency Market Assessment & Opportunity Analysis Recorded for 2017 – 2027

Albany, USA, 2018-Dec-05 — /EPR Network/ —A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Cryptocurrency Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview. The report anticipates that the sector for Cryptocurrency Market would rise at a positive CAGR during the period 2017-2025.

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The global cryptocurrency market is prognosticated to attain growth on the back of the rise in venture capital investment, benefit of low remittance cost, and demand for secure and fast processing of transactions. No matter the physical location of the receiver and sender, transactions using cryptocurrency could be confirmed within a few minutes, thanks to the extensive, regionally diversified nature of miner network base. Furthermore, cryptocurrency is said to cut down settlement expenses and disintermediate currency exchange systems and involved banks from the settlement procedure.

Between 2017 and 2025, the global cryptocurrency market is foreseen to rise at a whopping 31.3% CAGR to be valued at a US$6.7 bn by the completion of the forecast tenure. It was valued at a US$0.5 bn in 2016.

Acceptance in Various Industries and Applications Helps Bitcoin to Take Lead

With respect to type, the world cryptocurrency market is classified into five segments, viz. Dashcoin, Litecoin, Ripple (XRP), Ethereum, and Bitcoin. Considering its higher adoption rate in a range of industry verticals and various applications, Bitcoin is projected to take hold of a king’s share of the market in the near future. Nevertheless, the market could see the rise of Ethereum as a segment with higher CAGR. The cryptocurrency offers much needed benefits related to proof of stake (PoS), electronic cash, and smart contract technology.

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In terms of component, players could focus on two critical segments, i.e. software and hardware. The software market sees a further segregation into exchange, coin wallet, blockchain, and mining platform. On the other hand, the hardware market is further divided into wallet, application-specific integrated circuit (ASIC), graphics processing unit (GPU), and field-programmable gate array (FPGA). There could be a tough competition between the two markets. However, hardware is predicted to achieve a larger market share in the coming years. Nonetheless, higher market growth could be exhibited by the software segment.

Europe Collects Lion’s Share as Retailers Show Strong Adoption of Cryptocurrency

Over the course of the forecast tenure, the international cryptocurrency market is prophesied to find Europe taking the driver’s seat if revenue share is concerned. Among leading economies of the region, Germany could win the limelight in the foreseeable future as it contributes with a maximum revenue share. Europe is projected to bank on the acceptance of cryptocurrency as a legitimate one by a number of retail companies. Moreover, presence of several mining pools could act as a boon to the regional market.

Talking about North America, players may want to concentrate on rewarding prospects birthing in Canada and the U.S. The regional market for cryptocurrency is anticipated to leverage telling rise in the number of initial coin offerings (ICOs), especially in the U.S. Asia Pacific could take advantage of high adoption of virtual currencies in Japan, Singapore, and China. The Middle East and Africa (MEA) is forecasted to benefit from opportunities available in South Africa and United Arab Emirates (UAE), Saudi Arabia, and other Gulf Cooperation Council (GCC) countries.

The international cryptocurrency market marks the presence of some of the top players such as NVIDIA Corporation, Microsoft Corporation, and Intel Corporation.

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