Cryptocurrency Market Size, Share, Industry Analysis 2021-2026

Press Release:

Global Cryptocurrency Market to Witness Strong Growth During 2020-2025, Impelled by Growing Preference for Virtual Currencies

*As the coronavirus disease (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Cryptocurrency Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

The global cryptocurrency market exhibited robust growth during 2015-2020. Cryptocurrency refers to digital or virtual money secured by cryptography to monitor transactions and prevent counterfeit. It does not have a physical representation and is distributed over a vast network of computers connected to a virtual environment. It operates through decentralized networks that are based on the blockchain technology. The transfers are secured through public or private keys and are connected directly to the user’s digital wallet. In contrast to the traditionally used currency, it is not issued by a centralized authority and has minimal interference or manipulation from the government. It also offers various advantages, such as enhanced portability, divisibility, inflation resistance and transparency.

Increasing digitization across industries represents one of the key factors driving the growth of the market. In line with this, easy accessibility to and rising penetration of high-speed internet connectivity in daily activities is also creating a positive outlook for the market. Furthermore, legalization and approval of purchase, sale or trade of virtual currencies in various developed countries are also driving the market growth. With the immense transparency of distributed ledger technology or blockchain, there is minimal risk of fraudulent or unwanted transactions due to human or machine error or data manipulation. This enables all the parties to monitor any changes that are being made during the transaction in real-time, thereby offering enhanced data security and immutability of the transactions. Additionally, convenient access to online trading platforms that can be used through smartphones is contributing to the market growth. Other factors, including growing market capitalization or market cap of the industry, along with the advent of bitcoin cash and bitcoin lite, are anticipated to drive the market further. Looking forward, IMARC Group expects the global cryptocurrency market to continue its robust growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global cryptocurrency market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, type, component, process and application.

Breakup by Type:

Bitcoin
Ethereum
Bitcoin Cash
Ripple
Litecoin
Dashcoin
Others

Breakup by Component:

Hardware
Software

Breakup by Process:

Mining
Transaction

Breakup by Application:

Trading
Remittance
Payment
Others

Breakup by Region:

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

Competitive Landscape:

The report has also analysed the competitive landscape of the market with some of the key players being Advanced Micro Devices Inc., Alphapoint Corporation, Bitfury Holding B.V., Coinbase Inc., Cryptomove Inc., Intel Corporation, Microsoft Corporation, Quantstamp Inc., Ripple Labs Inc. and Xilinx Inc.

Key Questions Answered in This Report:

How has the global cryptocurrency market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global cryptocurrency market?
What are the key regional markets?
What is the breakup of the market based on the type?
What is the breakup of the market based on the component?
What is the breakup of the market based on the process?
What is the breakup of the market based on the application?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global cryptocurrency market and who are the key players?
What is the degree of competition in the industry?