Global Cryptocurrency Market was valued at USD 1.02 Billion in 2019 and is expected to reach over USD 1.50 Billion by 2026, growing at a CAGR of around 5.7% during the forecast period from 2020 to 2026. The term “virtual currency” refers to cryptocurrency. It is a type of currency that only exists in the digital realm and has no central issuing or regulating authority. The transactions are authenticated using blockchain technology. Blockchain is a decentralised technology that handles and records transactions across numerous computers. Furthermore, it is a peer-to-peer system that allows users to send and receive payments from anywhere in the globe without relying on banks to authenticate transactions.
The worldwide cryptocurrency industry is growing due to an increase in the desire for operational efficiency and transparency in financial payment systems, as well as an increase in demand for remittances in developing nations, greater data security, and a larger market cap. Furthermore, the cryptocurrency market’s expansion is hampered by high implementation costs and a lack of knowledge among consumers in underdeveloped countries. Additionally, rising demand for cryptocurrencies among banks and financial institutions, as well as untapped potential in emerging nations, are likely to present attractive opportunities for market expansion throughout the projection period.
The top Leading Market Players Covered in this Report are : Microsoft Corporation, BitFury Group Limited, Advanced Micro Devices, Inc., Ripple Labs Inc., Intel Corporation, NVIDIA Corporation, Coinbase Ltd., AlphaPoint Corporation, Xilinx Inc., BitGo, and BTL Group Ltd., among others..
With the advent of COVID-19, it is now more crucial than ever to understand its effects on overall market growth to make better decisions that will allow investors to stay ahead of the competition. Zion Market Research’s most recent report included a thorough influence analysis of the COVID-19 pandemic on the current market situation, its impact on overall profit-making.
Market Segmentation By Types – Transaction, Mining
Market Segmentation By Application – Remittance, Media And Entertainment, Peer-To-Peer Payment, E-Commerce And Retail, Others
Global Cryptocurrency market Witness Most Promising Rise in Demand
According to a recent industry analysis published by Zion Market Research, the worldwide Cryptocurrency market would grow at a healthy rate throughout the forecast year. Rapid technological advancements, rising investment in research & development, and rising demand from a variety of end-users are just a few of the factors that will propel the global Cryptocurrency industry forward. The research focuses on important market categories and geographies, providing in-depth information on the latest trends, revenue, and prospects in the global Cryptocurrency market.
The most recent market research provides a detailed study of ten leading industry players who control about half of the Cryptocurrency market. These market participants were chosen based on market share, business categories, net revenue, product portfolio, R&D investment, subsidiaries, and geographic presence, among other variables. Investors will benefit from a detailed analysis of significant market participants to better understand the current market situation, industry rivalry, market-dominating businesses, and their future investment plans. This will aid investors who are already in the market or who are planning to enter it in order to make better decisions.
The report examined various market segments in order to provide a comprehensive picture of the industry. The segment analysis is based on in-depth research of current market trends, product demand, and future trends that will propel a certain market segment’s growth throughout the forecast period. Investors might focus on a certain market sector that will contribute to the organization’s speedy growth by studying the nuances of market segments.
Major geographical regions such as North America, Europe, Asia Pacific, Latin America, the Middle East & Africa are covered in the global Cryptocurrency market study. The research looks at current & future growth forecasts, untapped markets at the country level, consumption scenarios, product demand, and market growth variables in the region.
The study on the global Cryptocurrency market by Zion Market Research was generated using extensive secondary research, which is backed up by primary research. All the data gathered through secondary research is a collection from reliable sources such as SEC filings, yearly reports, various institutions, and government websites. A top-down and bottom-up methodology has also been employed to forecast the market size of the worldwide Cryptocurrency market for the forecast period of 2021-2027. Furthermore, the research analyst has designed a report that will allow the user to readily comprehend the industry by employing an analytical method and a complete examination of the market.
Why should buy this report from Zion?
This recently published report on the global Cryptocurrency market enables users to comprehend competition analysis, key market segments, revenue sources, and current market trends. Each chapter in the study is arranged in a logical order to provide a better understanding of the market. Each of the statistical analyses presented in the study is backed up by data gathered from reliable sources, allowing for a clearer picture of the market.