Global Cryptocurrency Market Insights, Size and Growth Forecast To 2027

 

Global Cryptocurrency Market boost by the revolution in digital payment systems derived from blockchain technologies. The global Cryptocurrency market expected to grow with a substantial rate over the forecast period, 2020-2027. Due to the increasing demand of cryptocurrency in payments, which provide heightened transactional security, protection from fraud, low fees, protection from consumer chargebacks, and rapid international transfers. Additionally, the growing adoption of bitcoin in developed nations, and the surge in demand for safer transactions across the international borders will accelerate the growth of the global cryptocurrency market in the future period.

Cryptocurrencies are based on a decentralized consensus mechanism, as opposed to financial banking systems that rely on a centralized regulatory system. Cryptocurrency established through mining, as the transaction record are added to the public ledger of the cryptocurrency. Cryptocurrency transactions occur immediately and are known to the entire network once they occur.

The rising spread of wireless communication and the expanding number of online transaction activities will augment the global cryptocurrency market in the projected period. Additionally, low ownership cost, security, and quicker transactions are vital factors estimated to foster the global cryptocurrency market in the next few years. Further, advantages such as compliance-free peer-to-peer transactions, fast international transactions, and cross-border remittance transfer will robust the global cryptocurrency market in the expected period. 

“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”


Global Cryptocurrency Market: Competitive Landscape
Companies such as Bitmain, NVIDIA Corporation, Xilinx, Intel, Advanced Micro Devices, Ripple Labs, Ethereum Foundation, Bitfury Group, Coinbase, BitGo, Microsoft Corporation, Intel Corporation, and Binance Holdings are the key players in the Global Cryptocurrency Market. 

Offering Overview in the Global Cryptocurrency Market
Based on offering, the global cryptocurrency market bifurcated into Hardware, and Software. The Hardware segment projected to dominate the market by 2027, as it provides the most secure option for keeping user’s valuable Bitcoin and crypto secure.

Process Overview in the Global Cryptocurrency market
Based on process, the global cryptocurrency market bifurcated into Mining and Transaction. The Mining segment estimated to exhibit maximum revenue by 2027. Due to its responsibility for verification of transactions between users and introducing new coins into the existing circulating supply.

Type Overview in the Global Cryptocurrency Market
Based on type, the global cryptocurrency market classified into Bitcoin, Etgereum (ETH), Bitcoin Cash, Ripple (XRP), Dashcoin, Litecoin (LTC) and others. The Bitcoin segment projected to lead the market due to its benefits, such as provide digital currency, which allows performing transactions without the need for a central bank.

Application Overview in the Global Cryptocurrency Market
Based on application, the global cryptocurrency market categorized into Trading, Remittance, Payment, Media and Entertainment, Travel and Tourism, and Others. The payment segment will lead the market on account of its advantages, such as it provides secured and decentralized digital payments and no third-party involvement, minimal chances of fraud and theft, and zero transaction fees for digital currency exchange.

Regional Overview in the Global Cryptocurrency Market
By geography, the Global Cryptocurrency Market segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.  Europe anticipated dominating the market owing to the presence of big mining companies and the availability of venture capital funding from investors.

About SPER Market Research:

SPER Market Research is one of the world’s most trusted market research, market intelligence, and consulting companies offering strategic research, custom research, market intelligence solutions, quantitative data collection, qualitative fieldwork, online research panel and consumer research. Headquartered in Noida city, the company has offices worldwide, and provides strategic & consulting services.

SPER Market Research is amongst the top market research company and we have served over 20 industries, with core offerings in Pharmaceutical/Healthcare, Business to Business research (B2B), Nutraceuticals, Food & Beverages, Cosmetic, Dermatology, Dental, Herbal, Chemical, Consumer, Information Technology and other industries.

Comments

Post a Comment

Popular posts from this blog

Global Agriculture Equipment Market Insights, Size and Growth Forecast To 2027

Image
  Global agricultural equipment market likely to driving due to growing population base across developing countries and rising government initiatives.  Global agricultural equipment market size valued at USD 132.64 billion in 2019 and expected to grow at a CAGR of over 7.12 % during the forecast period, 2020–2027.  It is primarily attributed to increasing mechanization across the globe and the growing adoption of advanced technologies in the agriculture industry. Moreover, the surge in disposable income around the world and growing demand for processed foods, packaged foods, high energy foods, and meats are projected to propel the growth of the global agricultural equipment industry. Additionally, the huge adoption of modern technologies by farmers to raise farm yield and meet the increasing demand for food across the globe will impact the robust growth of the agricultural equipment market. Furthermore, the high demand for agricultural products coupled with a surge in po...
Read more

Global Smart Office Furniture Market by Product Type, by Distribution Channel, and By Region

Image
  Global smart office furniture market expected to propel due to the surge in demand for the connectivity technologies based-office furniture for helping employees’ and improvement in organizations productivity.  The global smart office furniture market expected to grow over a CAGR of 18.37% during the forecast period, 2020-2027.   The growth can be attributed to the growing demand for the sensors embedded smart office furniture to analyze the activity log of employees by assessing and evaluating the active and inactive working hours of employees. Additionally, the growing applications of smart office furniture for helping health issues of employees at workstations such as capture the number of calories burnt and notify them with a sedentary alert in case the user sits for prolonged sitting hours without any physical activity. These factors projected to drive the growth of the global smart office furniture market size in the analysis period. Further, the shifting tr...
Read more

Global Artificial Meat Market Insights, Size and Growth Forecast To 2027

Image
  Global Artificial Meat Market will influence by increasing demand for alternative protein-rich food products and the rising consumption for cultured meat.  The global Artificial Meat market predicted to grow with a noteworthy rate during the forecast period 2019-2027 , owing to a surge in income levels across developing countries, reduction in land for much-needed crops, and stability for climate change. The global lab-grown meat or artificial meat market will bolster by the growth in demand for credible alternatives to traditional meat and a significant reduction in greenhouse gases, land use, and water use. The artificial meat is also known as lab-grown meat, cultured meat, vitro meat, and synthetic meat. Additionally, these lab-made meats are cell-based and produce less carbon dioxide and will help to fight anti-microbial resistance and food adulteration. Moreover, the augmentation in demand for artificial meat in developing countries for prepared food & frozen meats...
Read more