Who are the distributors, traders and dealers of Cryptocurrency Market? Fortune Business Insights
The MarketWatch News Department was not involved in the creation of this content.
Jan 27, 2021 (The Expresswire) —
The global cryptocurrency market size is predicted to reach USD 1,758.0 million by 2027, exhibiting a CAGR of 11.2% during the forecast period. The growing inclination of individuals in developed countries towards virtual currency exchange methods will have a tremendous impact on the market during the forecast period. The integration of blockchain technology in cryptocurrency for fast, secure and effective transactions will bolster healthy growth of the market in the forthcoming years, mentioned in a report, titled “Cryptocurrency Market Size, Share and COVID-19 Impact Analysis, By Component (Hardware, Software), By Type (Bitcoin, Ether, Litecoin, Ripple, Ether Classic, Others), By End-use (Trading, E-commerce and Retail, Peer-to-Peer Payment, and Remittance), and Regional Forecast, 2020 2027 ”, the market size stood at USD 754.0 million in 2019.
Request a Sample Copy of the Global Market Research Report:https://www.fortunebusinessinsights.com/enquiry/sample/Cryptocurrency-market-100149
The Report lists the Main Companies in this Market:
- com. (Malta)
- Bitfury Group Limited (The Netherlands)
- BitGo, Inc. (United States)
- Bitmain Technologies Ltd. (Saint Bitts LLC) (China)
- Coinbase (United States)
- com (United States)
- Intel Corporation (United States)
- Ripple Labs, Inc. (United States)
- Xilinx (United States)
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
For more information in the analysis of this report, visit:https://www.fortunebusinessinsights.com/industry-reports/Cryptocurrency-market-100149
Market Driver:
Rising Popularity of Digital Currency to Augment Growth
The rising trend of cryptocurrency has led to the acceptance of digital coins such as Bitcoins, Litecoins, Ethers, and more. The easy and flexible transactional method offered by cryptocurrency has facilitated the Central Bank Digital Currency (CBDC) activity provisions across the world. For instance, Bank of Thailand and Central Bank of Uruguay have applied for the toolkit to its CBDC evaluation process. The toolkit delivers a guide for the countries to make progress quickly and analyse CBDC as an exchange medium. Furthermore, the increasing investment in blockchain and cryptocurrency by major companies will enable speedy expansion of the market. For instance, in October 2018, Qtum Chain Foundation, an open-sourced blockchain application platform based in Singapore announced a partnership with Amazon Web Services (AWS) China to deploy blockchain systems on the AWS cloud. The partnership will allow help AWS users to use Amazon Machine Images (AMI) to develop and publish smart contracts easily and efficiently. Also, the introduction of unique digital currencies by eminent companies will influence the market positively in the foreseeable future. For instance, in June 2019, Facebook, Inc. announced the launch of a digital currency named Libra. Libra will enable customers to buy things or send money to others and cash out Libra online or at grocery shops.
Regional Analysis:
Existential Players to Promote Growth in North America
The market in North America stood at USD 250.9 million in 2019 and is predicted to proliferate in the forthcoming years. The growth in the region is attributed to the rising popularity of bitcoins in the US. The presence of major eminent players will foster growth in the region during the forecast period. Asia Pacific is expected to witness significant growth during the forecast period owing to the technological developments and acceptance of virtual currency in Japan. The growing collaborations among key players will significantly boost the cryptocurrency market growth in Asia Pacific. For instance, in January 2020, Z Corporation, Inc. and TaoTao, Inc. announced a joint venture with the financial service agency to expand its presence by confirming regulatory compliance in the Japanese market.
Request for Customization:https://www.fortunebusinessinsights.com/enquiry/customization/cryptocurrency-market-100149
Segmentation
1. By Components
2. By Process
3. By Type
- Bitcoin
- Etherum
- Litecoin
- Ripple
- Dashcoin
4. By End User
- Remittance
- Media and entertainment
- Peer-to-peer payment
- E-commerce and retail
5. By Geography
- North America (USA and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East and Africa (South Africa, GCC and Rest of Middle East and Africa
Have Any Query? Speak to Analysthttps://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cryptocurrency-market-100149
Key Development:
January 2020: Binance, a cryptocurrency exchange company that provides a platform for trading various cryptocurrencies announced the acquisition of WazirX Bitcoin exchange based in Mumbai, India. With this acquisition, Binance will be able to expand its business portfolio in India.
Market Restraint:
Raging Coronavirus to Sway Market Potential
The outbreak of COVID-19 has negatively impacted the global economy. The regression in the stock market has directedly created concerns for the bitcoins. For instance, 12 March 2020, the price of Bitcoin fell below USD 4,000 after a sharp decline in the SandP Index in the U.S. The market crash has incited an increase in investment capital by blockchain companies to compensate for the losses. Giant blockchain analytics, Elliptic, Chainalysis, and CipherTrace declared that they have cut-price and reduced staffs or intend to do so in the immediate future to lessen the economic effects of the coronavirus pandemic. For instance, CipherTrace has decreased the jobs of the advertising and marketing departments. Whereas Elliptic has eliminated 30%of the workers in the U.S. and the U.K and Chainalysis has planned to reduce employees’ wages by 10% to mitigate the risks.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
https://www.fortunebusinessinsights.com/industry-reports/cryptocurrency-market-100149
(Have a Look at Reports Trending in “Information and Technology” Industry)
View Related Reports:
Solar PV Market 2020: Research by Business Opportunities, Top Companies report covers, Industry Outlook, Forecast -202? Fortune Business Insights – MarketWatch
Smoke Detector market Size, Industry Share and Total Revenue Growth Rate Till 2026
Smart education and learning market
Fraud Detection and Prevention Market Overview And Geographical Forecast Till 2026
About us:
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights™ we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune – 411045, Maharashtra, India.
Phone:
US: +1 424 253 0390
UK: +44 2071 939123
APAC: +91 744 740 1245
Email: [email protected]
Fortune Business Insights™
LinkedIn | Twitter | Blogs
Press Release Distributed by The Express Wire
To view the original version on The Express Wire visit Who are the distributors, traders and dealers of Cryptocurrency Market? Fortune Business Insights
COMTEX_379592678/2598/2021-01-27T04:28:24
Is there a problem with this press release? Contact the source provider Comtex at [email protected]. You can also contact MarketWatch Customer Service via our Customer Center.
The MarketWatch News Department was not involved in the creation of this content.