Stratview Research releases a new insightful report on the Cryptocurrency Market, that makes efforts at providing deep insights into numerous factors that are vital to the growth of this industry.
The information presented in this report will outline the present and upcoming trends in the market, analyst opinions and views, competitive landscapes, and key regions from a systematic perspective. This report on the Cryptocurrency Market provides an analysis of the key trends in business and forecasts the future directions of the market. The procedure and analysis used in this report assess the strengths and weaknesses of market participants, key market drivers, and challenges. It identifies significant market players and provides split analyses, and forecasts, among other insights.
Market Dynamics
The market experts at Stratview Research identify and evaluate the criteria which are vital for studying a market: The key customers, and product, affecting trends, pricing, competition, financing, and growth factors. The user can take a critical insight at how, why, and when the market is roaring high and also can find the loopholes in it.
According to the present report, Cryptocurrency Market is estimated to grow from USD 1.5 billion in 2020 to USD 2.3 billion by 2026 at a healthy CAGR of 7.4% during the forecast period.
Key players mentioned in the report are –
Some of the major players mentioned in the report are listed below-
- Intel Corporation (US)
- Microsoft Corporation (US)
- NVIDIA Corporation (US)
- BitFury Group Limited (Netherlands)
- Alphapoint Corporation (US)
- Advanced Micro Devices, Inc. (US)
- Xilinx Inc. (US)
- BitGo (US)
- Ripple (US)
- BTL Group Ltd. (UK).
Market Segments’ Analysis
Component Trends
Based on components, the cryptocurrency market is categorized into hardware and software. The hardware segment held a significant market share in 2020 and is estimated to register a healthy CAGR during the forecast timeline. The concept of cryptocurrency is based on decentralizing the monitoring of transactions. In the transaction monitoring process, miners (generally the users) validate the transactions made by other users. In this process, the system needs high computing power to validate the transactions, which further bolsters segment growth.
Regional Trends
By region, the North American market accounted for a significant share in 2020 and is expected to grow at the highest CAGR in the following years. This is mainly ascribed to the strong presence of data mining and crypto mining companies in the US. Also, increasing awareness regarding digital currency in the region coupled with various companies accepting digital/virtual currencies as a form of payment, further proliferates the regional market growth.
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