Global cryptocurrency market
Dublin, October 25, 2022 (GLOBE NEWSWIRE) — “Cryptocurrency Market Size, By Component, By Hardware, By Software, By Process (Mining, Transaction), By Type, By End Use, By Region And Segment Forecast, Share And Trend Analysis From 2022 To 2030 report report added of ResearchAndMarkets.com Recruitment.
The global cryptocurrency market size is expected to reach USD 11.71 billion by 2030, at a CAGR of 12.2% from 2022 to 2030. Market growth is driven by better data security, operational transparency, and blockchain technology in digital payment systems. Additionally, the legalization of buying, selling, and trading digital currencies in several developed countries such as the United States has fueled the expansion of the industry.
The cryptocurrency industry is expected to grow due to the growing global popularity of digital currencies such as Bitcoin, Ethereum and Litecoin. This growing popularity can be attributed to cryptocurrencies’ ability to provide users with fast, transparent, secure and effective payments. As Crypto.com stated, in July 2021 he had 295 million crypto holders compared to 228 million in December 2021.
The cryptocurrency market is expected to be positively impacted by recent advances in artificial intelligence. The growing popularity of AI-based cryptocurrency platforms has resulted in many companies concentrating on their development. reported creating an artificial intelligence algorithm to recognize unauthorized cryptocurrency miners using research computers.
The COVID-19 pandemic had a negative impact on market growth in 2020, but 2021 saw a steady uptick. Sales of crypto mining hardware slowed due to slowdowns in global supply chains due to 2020 border closures, limiting market expansion. Additionally, the impact of COVID-19 has forced the blockchain company to cut staffing and budgets in his 2020. For example, Cipher Trace cut jobs in its advertising and marketing departments, and Elliptic laid off employees in the US and UK.
Highlights of the Cryptocurrency Market Report
The hardware segment is estimated to dominate the market in 2021. This dominance can be attributed to the increasing demand for cryptocurrency mining devices to mine new coins and include them in the supply chain.
The graphics processing unit (GPU) segment is expected to grow the fastest during the forecast period. This growth can be attributed to the growing demand for GPUs in cryptocurrency mining. This is because GPUs consume less energy and provide faster processing.
The wallet segment is expected to grow the fastest during the forecast period. Rising demand for cryptocurrency wallets for trading, sending and receiving cryptocurrencies is expected to boost the growth of this segment.
The mining segment is estimated to dominate the market in 2021. The domination may result from increased investment by multiple companies to build cryptocurrency mining farms.
Bitcoin segment will dominate the market in 2021 and is expected to grow at the fastest CAGR throughout the forecast period. This growth can be attributed to the growing popularity of Bitcoin.Additionally, the acceptance of Bitcoin by several emerging economies such as El Salvador is expected to spur growth in the segment.
The retail and e-commerce segment is expected to grow at the fastest CAGR throughout the forecast period. Growing acceptance of cryptocurrencies by some retail and e-commerce stores is expected to help the growth of the segment.
Asia Pacific is expected to register rapid growth during the forecast period.Presence of cryptocurrency mining firms in the region is projected to boost regional market growth
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Prospects of the cryptocurrency industry
Chapter 4 Outlook for Virtual Currency Components
Chapter 5 Outlook of the virtual currency process
Chapter 6 Cryptocurrency Prospects
Chapter 7 Prospects for End Uses of Cryptocurrencies
Chapter 8 Regional Outlook for Virtual Currencies
Chapter 9 Competitive Analysis
Chapter 10 Competitive Environment
Advanced Micro Devices, Inc.
Bitmain Technologies Holding Company
Bitfury Group Co., Ltd.
Zapo Holdings Co., Ltd.
Learn more about this report here https://www.researchandmarkets.com/r/29dart
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