Rising Institutional Adoption of Cryptocurrencies as Investment Assets, Growing Popularity of Stablecoins for Reducing Volatility
Dublin, Dec. 17, 2024 (GLOBE NEWSWIRE) -- The "Cryptocurrency - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Cryptocurrency was estimated at US$1.3 Billion in 2023 and is projected to reach US$1.8 Billion by 2030, growing at a CAGR of 4.8% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Cryptocurrency Market such as Advanced Micro Devices, Inc., Binance Holdings Limited, Bitfinex Group, Bitfury Holding B.V., BitGo Inc. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
What are the Key Growth Drivers of the Cryptocurrency Market?
The growth in the cryptocurrency market is driven by several factors, including the increasing institutional and retail investor interest, technological advancements in blockchain networks, and the growing acceptance of digital currencies by major companies and governments. The expansion of DeFi applications is also fueling growth, as they provide alternative financial services that operate outside traditional banking systems. Additionally, the increased focus on financial inclusion in developing economies, where cryptocurrencies offer an accessible alternative to conventional banking services, is driving adoption. The growing demand for decentralized applications (dApps) and the rise of NFTs are further contributing to the expansion of the cryptocurrency market.
How are Innovations in Blockchain and Cryptocurrency Technology Driving Growth?
Innovations in blockchain technology are enhancing the scalability, security, and usability of cryptocurrencies, driving wider adoption. Second-layer solutions, such as the Lightning Network, are addressing the scalability issues of major cryptocurrencies by enabling faster and more cost-effective transactions. Additionally, decentralized finance (DeFi) platforms built on blockchain networks are democratizing access to financial services such as lending, borrowing, and trading, further increasing the appeal of cryptocurrencies. The rise of stablecoins, which are pegged to traditional currencies, is also attracting users who seek the benefits of cryptocurrency without the volatility typically associated with digital assets.
Which Sectors are Driving Cryptocurrency Adoption?
The financial services sector is the primary driver of cryptocurrency adoption, as digital assets offer the potential for faster, cheaper, and more secure cross-border transactions. Additionally, retail investors and traders are increasingly engaging in cryptocurrency markets as they seek portfolio diversification and opportunities for high returns. Large institutional investors, including hedge funds and asset management firms, are also entering the space, signaling growing confidence in digital currencies as a legitimate asset class. The rise of non-fungible tokens (NFTs), which are built on blockchain technology, has expanded the application of cryptocurrencies into the art, gaming, and entertainment sectors, further driving demand.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Cryptocurrency Hardware segment, which is expected to reach US$1.1 Billion by 2030 with a CAGR of a 5.0%. The Cryptocurrency Software segment is also set to grow at 4.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $348.7 Million in 2023, and China, forecasted to grow at an impressive 4.4% CAGR to reach $279.1 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Cryptocurrency Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Some of the 46 companies featured in this Global Cryptocurrency market report include:
- Advanced Micro Devices, Inc.
- Binance Holdings Limited
- Bitfinex Group
- Bitfury Holding B.V.
- BitGo Inc.
- Bitmain Technologies Limited
- Bitstamp Ltd
- Canaan Creative CO., LTD
- Coinbase
- Ethereum Foundation
- Ethereumminer.EU
- Intel Corporation
- Ledger SAS
- NVIDIA Corporation
- PandaMiner
- Ripple
- Shark Mining
- Upbit
- Xapo
- Xilinx Inc.
- Zhejiang Ebang Communication Co., Ltd.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 173 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $1.3 Billion |
| Forecasted Market Value (USD) by 2030 | $1.8 Billion |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Impact of COVID-19 and a Looming Global Recession
- Cryptocurrency - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Institutional Adoption of Cryptocurrencies as Investment Assets
- Technological Innovations in Blockchain Networks and Decentralized Finance (DeFi)
- Increasing Use of Cryptocurrencies for Cross-border Transactions
- Growing Popularity of Stablecoins for Reducing Volatility
- Expansion of Cryptocurrency Exchanges and Trading Platforms
- Increasing Focus on Digital Wallets and Security Solutions
- Rising Demand for NFTs (Non-Fungible Tokens) in Art and Entertainment
- Growing Acceptance of Cryptocurrencies in E-commerce and Retail
- Emerging Interest in Central Bank Digital Currencies (CBDCs)
- Growing Use of Blockchain in Supply Chain Transparency and Efficiency
For more information about this report visit https://www.researchandmarkets.com/r/syvacj
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