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Cryptocurrency Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 146 Pages
  • March 2023
  • Region: Global
  • IMARC Group
  • ID: 5769077

Quick Summary:

In the rapidly expanding arena of digital finance, keeping abreast of the latest trends and developments is vital. The current growth and future potential of the global cryptocurrency market make it an area that cannot be overlooked by serious investors and market players. This market research report provides an in-depth analysis of the global cryptocurrency market that will equip you with essential insights and guide your strategic decisions.

Cryptocurrency, a digital or virtual asset based on the revolutionary blockchain technology, offers an alternative form of finance that is both secure and decentralized. It facilitates borderless transactions, making financial operations more efficient and transparent. As the world shifts towards digitization, the growth potential and market influence of cryptocurrency continue to grow exponentially.

The report offers comprehensive insights into which cryptocurrencies hold the largest market share, the key role of software and hardware components, the global distribution of market participants, and upcoming trends. With the accelerating adoption of online payment methods, burgeoning awareness about cryptocurrency benefits, and the increasing utilization of blockchain technology, a clear understanding of the cryptocurrency market becomes all the more indispensable. This report provides an in-depth examination of these factors, coupled with extensive market segmentation and analysis, making it the go-to source for understanding the global cryptocurrency market dynamics.

Featuring actionable insights into market trends, competition, opportunities, and challenges, this market research report serves as a strategic tool for industry executives, investors, consultants, and other stakeholders, helping them navigate the complex terrain of the global cryptocurrency market with confidence.

The global cryptocurrency market size reached US$ 2,019 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 4,007 Billion by 2028, exhibiting a CAGR of 12.1% during 2022-2028.

Cryptocurrency refers to a form of digital currency that is considered a virtual asset and difficult to counterfeit. It is a decentralized network based on blockchain technology that is not issued by any central authority and exists outside the control of governments. It is created by the process of crypto mining, wherein a high-powered graphics processing unit (GPU) system is utilized to decrypt the cryptographic hash for producing a new block. Cryptocurrency is mainly acquired by crypto exchange, where users buy a cryptocurrency either with a fiat currency or with any other cryptocurrency. It secures decentralized transactions with public and private keys and various forms of incentive systems, such as proof of stake. It can be mined or purchased from cryptocurrency exchanges and utilized for purchasing products or services online. It can also be employed by banks to facilitate transfers between various geographical locations. As cryptocurrency offers flexible transaction facilities and efficient protection of personal assets, the demand for cryptocurrency is increasing around the world.

Cryptocurrency Market Trends:

At present, the rising demand for cryptocurrency to make effortless and borderless transactions represents one of the primary factors influencing the market positively. Besides this, the increasing online shopping activities to purchase products and services at discounted prices is propelling the growth of the market. In addition, the growing utilization of online payment methods to make cashless payments and earn cashback on every transaction is offering a favorable market outlook. Apart from this, the escalating demand for operational efficiency and transparency in financial payment systems, along with the rising awareness among the masses about the benefits of utilizing cryptocurrencies, is contributing to the growth of the market. Additionally, the increasing employment of blockchain technology in the financial industry to secure transactions and verify and trace multistep payments is strengthening the market growth. Moreover, there is a rise in the usage of distributed ledger technology to share, record, and synchronize transactions and data across a distributed network comprising numerous participants. This, coupled with the increasing digital investments by individuals in venture capital, is supporting the market growth. Furthermore, governing agencies of various countries are undertaking initiatives to make the use of cryptocurrency legal, which is bolstering the market growth.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global cryptocurrency market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, component, process and application.

Type Insights:

  • Bitcoin
  • Ethereum
  • Bitcoin Cash
  • Ripple
  • Litecoin
  • Dashcoin
  • Others
The report has provided a detailed breakup and analysis of the cryptocurrency market based on the type. This includes bitcoin, ethereum, bitcoin cash, ripple, litecoin, dashcoin, and others. According to the report, bitcoin represented the largest segment.

Component Insights:

  • Hardware
  • Software
A detailed breakup and analysis of the cryptocurrency market based on the component has also been provided in the report. This includes hardware and software. According to the report, software accounted for the largest market share.

Process Insights:

  • Mining
  • Transaction
A detailed breakup and analysis of the cryptocurrency market based on the process has also been provided in the report. This includes mining and transaction. According to the report, transaction accounted for the largest market share.

Application Insights:

  • Trading
  • Remittance
  • Payment
  • Others
A detailed breakup and analysis of the cryptocurrency market based on the application has also been provided in the report. This includes trading, remittance, payment, and others. According to the report, trading accounted for the largest market share.

Regional Insights

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets that include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (the United Kingdom, Germany, France, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and Middle East and Africa. According to the report, Europe was the largest market for cryptocurrency. Some of the factors driving Europe cryptocurrency market included the growing traction of virtual assets, increasing awareness about the benefits of cryptocurrencies, legalization of cryptocurrency in several countries, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global cryptocurrency market. Detailed profiles of all major companies have also been provided. Some of the companies covered include Advanced Micro Devices Inc., Alphapoint Corporation, Bitfury Holding B.V., Coinbase Inc., Cryptomove Inc., Intel Corporation, Microsoft Corporation, Quantstamp, Inc., and Ripple Services Inc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Questions Answered in This Report:

  • What was the size of the global cryptocurrency market in 2022?
  • What is the expected growth rate of the global cryptocurrency market during 2023-2028?
  • What are the key factors driving the global cryptocurrency market?
  • What has been the impact of COVID-19 on the global cryptocurrency market?
  • What is the breakup of the global cryptocurrency market based on the type?
  • What is the breakup of the global cryptocurrency market based on the component?
  • What is the breakup of the global cryptocurrency market based on the process?
  • What is the breakup of the global cryptocurrency market based on the application?
  • What are the key regions in the global cryptocurrency market?
  • Who are the key players/companies in the global cryptocurrency market?
Frequently Asked Questions about the Global Cryptocurrency Market

What is the estimated value of the Global Cryptocurrency Market?

The Global Cryptocurrency Market was estimated to be valued at $2019 Billion in 2022.

What is the growth rate of the Global Cryptocurrency Market?

The growth rate of the Global Cryptocurrency Market is 12.1%, with an estimated value of $4007 Billion by 2028.

What is the forecasted size of the Global Cryptocurrency Market?

The Global Cryptocurrency Market is estimated to be worth $4007 Billion by 2028.

Who are the key companies in the Global Cryptocurrency Market?

Key companies in the Global Cryptocurrency Market include Advanced Micro Devices Inc., Alphapoint Corporation, Bitfury Holding B.V., Coinbase Inc., Cryptomove Inc., Intel Corporation, Microsoft Corporation, Quantstamp Inc. and Ripple Services Inc. Kindly note that this only represents a partial list of companies, the complete list has been provided in the report.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Cryptocurrency Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Bitcoin
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Ethereum
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Bitcoin Cash
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Ripple
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Litecoin
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Dashcoin
6.6.1 Market Trends
6.6.2 Market Forecast
6.7 Others
6.7.1 Market Trends
6.7.2 Market Forecast
7 Market Breakup by Component
7.1 Hardware
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Software
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Process
8.1 Mining
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Transaction
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Application
9.1 Trading
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Remittance
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Payment
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Others
9.4.1 Market Trends
9.4.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Advanced Micro Devices Inc.
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Alphapoint Corporation
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.3 Bitfury Holding B.V.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Coinbase Inc.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.5 Cryptomove Inc.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.6 Intel Corporation
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Microsoft Corporation
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.7.3 Financials
15.3.7.4 SWOT Analysis
15.3.8 Quantstamp Inc.
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Ripple Services Inc.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
List of Figures
Figure 1: Global: Cryptocurrency Market: Major Drivers and Challenges
Figure 2: Global: Cryptocurrency Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Cryptocurrency Market: Breakup by Type (in %), 2022
Figure 4: Global: Cryptocurrency Market: Breakup by Component (in %), 2022
Figure 5: Global: Cryptocurrency Market: Breakup by Process (in %), 2022
Figure 6: Global: Cryptocurrency Market: Breakup by Application (in %), 2022
Figure 7: Global: Cryptocurrency Market: Breakup by Region (in %), 2022
Figure 8: Global: Cryptocurrency Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: Cryptocurrency (Bitcoin) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Cryptocurrency (Bitcoin) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Cryptocurrency (Ethereum) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Cryptocurrency (Ethereum) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Cryptocurrency (Bitcoin Cash) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Cryptocurrency (Bitcoin Cash) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Cryptocurrency (Ripple) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Cryptocurrency (Ripple) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Cryptocurrency (Litecoin) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Cryptocurrency (Litecoin) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Cryptocurrency (Dashcoin) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Cryptocurrency (Dashcoin) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Cryptocurrency (Other Types) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Cryptocurrency (Other Types) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Cryptocurrency (Hardware) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Cryptocurrency (Hardware) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Cryptocurrency (Software) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Cryptocurrency (Software) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Cryptocurrency (Mining) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Cryptocurrency (Mining) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Cryptocurrency (Transaction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Cryptocurrency (Transaction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Cryptocurrency (Trading) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Cryptocurrency (Trading) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Cryptocurrency (Remittance) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Cryptocurrency (Remittance) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Cryptocurrency (Payment) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Cryptocurrency (Payment) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Cryptocurrency (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Cryptocurrency (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: North America: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: North America: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: United States: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: United States: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Canada: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Canada: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Asia Pacific: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Asia Pacific: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: China: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: China: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: Japan: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: Japan: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: India: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: India: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: South Korea: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: South Korea: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Australia: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Australia: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Indonesia: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Indonesia: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Others: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Others: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Europe: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Europe: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Germany: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Germany: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: France: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: France: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: United Kingdom: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: United Kingdom: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Italy: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Italy: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Spain: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Spain: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Russia: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Russia: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Others: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Others: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Latin America: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Latin America: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Brazil: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Brazil: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Mexico: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Mexico: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Others: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Others: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Middle East and Africa: Cryptocurrency Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Middle East and Africa: Cryptocurrency Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Global: Cryptocurrency Industry: SWOT Analysis
Figure 88: Global: Cryptocurrency Industry: Value Chain Analysis
Figure 89: Global: Cryptocurrency Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Cryptocurrency Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Cryptocurrency Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Cryptocurrency Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 4: Global: Cryptocurrency Market Forecast: Breakup by Process (in Million US$), 2023-2028
Table 5: Global: Cryptocurrency Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 6: Global: Cryptocurrency Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Cryptocurrency Market Structure
Table 8: Global: Cryptocurrency Market: Key Players

Companies Mentioned

  • Advanced Micro Devices Inc.
  • Alphapoint Corporation
  • Bitfury Holding B.V.
  • Coinbase Inc.
  • Cryptomove Inc.
  • Intel Corporation
  • Microsoft Corporation
  • Quantstamp Inc.
  • Ripple Services Inc.
Kindly note that this only represents a partial list of companies, the complete list has been provided in the report

Methodology

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