Current and Upcoming Trends in CryptoCurrency Market Cap to Hit $5,190.62 Million by 2026, Soars at 30% CAGR: Facts & Factors
New York, NY, Feb. 23, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Cryptocurrency Market By Type (Bitcoin, Ethereum, Ripple, Litecoin, Dashcoin, Others), By Component (Hardware, Software), By Process (Transaction, Mining), and By End-Users Analysis (Banking, Real Estate, Stock Market & Virtual Currency, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .
“According to the research study, the global Cryptocurrency Market was estimated at USD 792.53 Million in 2019 and is expected to reach USD 5,190.62 Million by 2026. The global Cryptocurrency Market is expected to grow at a compound annual growth rate (CAGR) of 30% from 2019 to 2026”.
Cryptocurrency is virtual cash or digital asset. It is used as a medium of exchange with strong cryptography to secure financial transactions, control additional unit creation and substantiate asset transfer. The cryptocurrency is present in various types of viz. bitcoin, bitcoin cash, ethereum, ripple, litecoin, dashcoin, and many more. In which one of the cryptocurrencies is bitcoin (used under the symbol BTC), and other cryptocurrencies like “Ripple (XRP),” “Litecoin (LTC) ” and “Ether (ETH),”. Alternatives to Bitcoin are called “altcoins.” Cryptocurrency is coarsely the correspondent of using a Debit Card or PayPal, excluding on-screen numbers reflecting cryptocurrencies as opposed to other currency like the dollar.
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Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Mental Health Software Market?
2) What is the market size, share of the Cryptocurrency Market?
3) Who are the top market players in Cryptocurrency Market?
4) What will be the future market of the Cryptocurrency Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Cryptocurrency transaction uses the concept of blockchain and cryptography. The cryptocurrency needs low ownership costs, and it is much safer and faster transactions. These parameters are expected to augment market growth globally. In addition, minimal rates for exchange, interest rates, or charges across all international transactions are expected to boost the cryptocurrency market over the years to come. Cryptocurrency is becoming progressively popular. Distributed ledgers allow the digital currency payment system to run in decentralized mode, by removing the need for centralized processing by intermediaries. Distributed ledger technology allows financial transaction tracking. By creating digital money, it virtualizes tracking and trading anything of value. Blockchain provides a robust platform for safe real-time data sharing. Blockchain is a type of distributed ledger system that delivers greater safety to the digital economic process in real-time. These parameters may drive the cryptocurrency market in future years. The uncertainty in the regulatory status may hamper the growth of the market. Many people in the world are still unaware of the benefits of digital currency.
Top Market Players:
- Coinbase Inc.
- Unocoin Technologies Private Limited
- Bitfury Group Limited
- Circle Internet Financial Limited
- BitPay Inc
- Ripple Labs Inc.
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The major type of the global cryptocurrency market includes bitcoin, ethereum, ripple, litecoin, dashcoin, and others. Among these, bitcoin led the market with a major share above 40% in 2019 and it is further expected to continue the trend over the forecasted period.
By End-User analysis, the cryptocurrency market is divided into banking, real estate, stock market & virtual currency, others, Among these, the stock market & virtual currency headed the market in 2019 with more than USD 500 million and it is anticipated to grow in the future years.
On a component basis, the global cryptocurrency market is segregated into hardware and software. Among the components, hardware was the largest segment used in the cryptography market. The hardware segment held the major share of the entire market in 2019. Furthermore, the hardware segment is expected to continue its dominance over the forthcoming years.
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Based on the process, the global cryptocurrency market is classified into transactions and mining. Among these, the mining segment held a significant share of the total market nearly 65% in 2019. The mining segment is likely to exhibit lucrative growth in the future years.
The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the cryptocurrency sector. Key strategic developments in the cryptocurrency market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the cryptocurrency market are appropriately highlighted in the report.
Also Read, Bitcoin Market 2020-2026
The cryptocurrency market research report delivers an acute valuation and taxonomy of the cryptocurrency industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026. The regional segmentation of the cryptocurrency industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the cryptocurrency industry is provided for the leading economies of the world.
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The cryptocurrency market is segmented based on type, component, process, and application. On the basis of type segmentation, the market is classified into bitcoin, ethereum, ripple, litecoin, dashcoin, others. By component, the market is divided into hardware and software. By process, the market is classified into transactions and mining. In terms of end-users Analysis, the market is bifurcated into banking, real estate, stock market & virtual currency, others.
By region-wise, Europe region led the market in 2019, with around USD 400 million and it is anticipated to increase over the forecast period.
The regional segmentation of the cryptocurrency industry includes the complete classification of all the major continents including North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Further, country-wise data for the cryptocurrency industry is provided for the leading economies of the world.
Browse the full “Cryptocurrency Market By Type (Bitcoin, Ethereum, Ripple, Litecoin, Dashcoin, Others), By Component (Hardware, Software), By Process (Transaction, Mining), and By End-Users Analysis (Banking, Real Estate, Stock Market & Virtual Currency, Others): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” report at https://www.fnfresearch.com/cryptocurrency-market-by-type-bitcoin-ethereum-ripple-litecoin-640
This report segments the CryptoCurrency market as follows:
Global Crypto Currency Market: By Type Segmentation Analysis
Global Crypto Currency Market: By End-Users Segmentation Analysis
- Real Estate
- Stock Market & Virtual Currency
Global Crypto Currency Market: By Component Segmentation Analysis
Global Crypto Currency Market: By Process Segmentation Analysis
Key Insights from Primary Research
- According to the primary researchers operating in the global cryptocurrency market, the market was valued at around USD 700 million and is expected to be valued at over USD 5,000 million in the future years.
- The cryptocurrency market is predicted to witness a significant growth of nearly 30% during 2020-2026 due to the acceptance of cryptocurrency across various industries.
- By Process, the mining segment held a significant share of the total market nearly 65% in 2019 and it is predicted to grow in the future years owing to providing hardware-specific solutions for cryptocurrency mining.
- By type analysis, the bitcoin category led the market with more than USD 300 million in 2019 attributed to capitalization in the crypto market.
- On the basis of components, the hardware segment held the major share of the entire market that is nearly 70% in 2019. Furthermore, the hardware segment is expected to continue its dominance over the forthcoming years.
- On the basis of End-User analysis, the stock market and virtual currency segment-headed the market with around USD 500 million in 2019 and is anticipated to witness major growth in the forecast period.
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