The market will experience rapid growth due to the legalization of crypto assets in several nations during the forecast period. Also, the increasing number of individual investors exploring crypto assets will augment the market growth. North America region emerged as the most significant global crypto asset management market, with a 39% market revenue share in 2022.
Newark, Aug. 02, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1 billion in 2022 global crypto asset management market will reach USD 10.91 billion in 2032. The crypto assets market is worth a billion as of 2022. Bitcoin is the most popular cryptocurrency as of now. Several other crypto assets have also been introduced in the market, some backed by government institutions. The younger generation with a higher risk appetite is willing to invest in crypto assets rather than traditional banking instruments. The crypto asset management services will witness increased demand as they offer convenient, expert and timely advice and means for consumers to transact their crypto assets. With the introduction of committees to create a regulatory roadmap for monitoring crypto transactions, the global crypto asset management market will witness significant growth in the forecast period.
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Report Coverage and Details:
| Report Coverage | Details |
| Forecast Period | 2023 to 2032 |
| Base Year | 20212 |
| Market Size in 2023 | USD 1 Billion |
| Market Size in 2032 | USD 10.91 Billion |
| CAGR | 27% |
| No. of Pages in Report | 237 |
| Segments Covered | Solution, Deployment Type, Application and End-User |
| Drivers | The increasing demand for crypto assets |
| Opportunities | Countries legalizing crypto assets |
| Restraints | The lack of knowledge and awareness about crypto assets |
Key Insight of the Global Crypto Asset Management Market
North America is expected to dominate the market during the forecast period.
The United States of America dominates the North American region and has the highest proportion of the cryptocurrency trading market. The presence of big crypto asset management service providers will fuel the market's expansion. The market will grow as more and more individual investors look at crypto assets. The market's growth is accelerated by the favourable environment for crypto mining made possible by the well-established IT infrastructure.
In 2022, the wallet management segment dominated the market with the largest market share of 78% and market revenue of 0.78 billion.
The solution segment is divided into custodian solutions and wallet management. In 2022, the wallet management segment dominated the market with the largest share of 78% and revenue of 0.78 billion.
In 2022, the on-premises segment dominated the market with the largest market share of 54% and market revenue of 0.54 billion.
The deployment type segment is divided into cloud and on-premises. In 2022, the on-premises segment dominated the market with the largest market share of 54% and revenue of 0.54 billion.
In 2022, the mobile segment dominated the market with the largest share of 67% and revenue of 0.67 billion.
The application segment is divided into web-based and mobile. In 2022, the mobile segment dominated the market with the largest share of 67% and revenue of 0.67 billion.
In 2022, the individual segment dominated the market with the largest market share of 54% and market revenue of 0.54 billion.
The end-user segment is divided into individuals and enterprises. In 2022, the individual segment dominated the market with the largest market share of 54% and market revenue of 0.54 billion.
Advancement in market
July 2023 - -Bitwise Asset Management revealed that the Bitwise Crypto Industry Innovators ETF's assets under management have crossed USD 100 million. The achievement coincides with what many perceive as a turning point for the cryptocurrency industry, which has seen promising market performance, good industry advances, and rising investor interest throughout 2023.
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Market Dynamics
Driver: the rising interest in crypto assets.
Because they are decentralized, profitable, and secure investments when done properly, crypto assets are in more demand as a result of the desire to increase financial wealth in the current world through varied portfolio investments. The accessibility and openness are enhanced by the decentralized economy's cheap transaction costs. The safety and security of assets are guaranteed by blockchain technology. The limited supply guarantees profitable market profits. With crypto asset management services, clients can access all digital or crypto assets in one location. Additionally, it provides research and insightful information on customer holdings and investments. These services provide advice, recommendations, and valuable information essential to customers unfamiliar with cryptocurrencies or other digital assets. Therefore, the market's growth will be fueled by the rising demand for crypto assets as a financial tool to increase wealth.
Restraints: The lack of understanding and awareness of crypto assets.
Cryptocurrency assets are based on intricate mathematical formulae and are kept, sold, bought, and traded using cutting-edge technology. Most people are ignorant of digital assets and think traditional investing alternatives are the only way to increase their wealth. The investor is wary of these investing choices because of the stated volatility of crypto assets. The vague legislation and technological expertise further increase the level of uncertainty. Therefore, the market's expansion would be hampered by the lack of understanding and awareness of crypto assets.
Opportunities: countries legalizing the trade of cryptocurrencies.
Due to the decentralized nature of the cryptocurrency market, it is challenging to control and keep an eye on its operations. It is challenging for regulators to safeguard individual investors from market volatility and fraud due to a lack of regulation. A number of nations have outlawed particular digital assets because of their novel and unstable nature. Some nations have made some firms and transactions legal, giving them some degree of control over the cryptocurrency industry. A new era of virtual digital assets began when certain nations declared cryptocurrencies legal cash. Creating a legal framework by the international community to control the market and safeguard stakeholders is a sign that crypto assets are here to stay and will help the market thrive throughout the forecast period.
Challenges: countries are banning crypto assets.
Crypto assets are traded and stored with the help of blockchain technology in a decentralized, secure, safe and transparent manner. However, the decentralized and encrypted nature of transactions makes it an easy source to fund illegal activities and sponsor terrorism. Furthermore, the volatility witnessed by the crypto market has led to substantial losses and abnormal profits for investors. Countries are banning the storage, ownership and trading of crypto assets until a robust regulatory and accountability framework is developed to govern them, which safeguards investors and prevents using them to sponsor illegal activities. Therefore, countries banning crypto assets will challenge the market's growth.
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Some of the major players operating in the global crypto asset management market are:
• Bakkt
• BitGo
• Coinbase
• Crypto Finance AG
• Gemini Trust Company, LLC
• Genesis Global Trading, Inc.
• ICONOMI Limited
• Ledger SAS
• METACO
• Xapo Holdings Limited
Key Segments cover in the market:
By Solutions
• Custodian Solutions
• Wallet Management
By Deployment Type
• Cloud
• On-Premises
By Application
• Web-Based
• Mobile
By End User
• Individual
• Enterprises
By Region
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the UK, Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
About the report:
The market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses driving factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter's five forces model, attractiveness analysis, Product analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.
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