Cryptocurrency Services Market Scope
Cryptocurrency Services is a virtual currency exchange system that aims to cut out financial middlemen. Cryptocurrencies, which are designed to be used for peer-to-peer transactions without being regulated by any government or central bank, are the most recent financial innovations that have been investigated not only for their reasons for existence, but also for potential risks and opportunities in the financial industry. Cryptocurrencies include decentralised systems with no single point of failure and cheaper and faster money transfers.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Bitmain (China), NVIDIA (United States), Xilinx (United States), Intel (United States), Advanced Micro Devices (United States), Ripple Labs (United States), Ethereum Foundation (Switzerland), Bitfury Group (Netherlands), Coinbase (United States) and BitGo (United States) |
CAGR | % |
The market is seeing moderate market players, by seeing huge growth in this market the key leading vendors are highly focusing towards the production technologies, efficiency enhancement and product life. There is various growth opportunity in this market which is captured by leading players via tracking the ongoing process enhancement and huge invest in market growth strategies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Cryptocurrency Services market throughout the predicted period.
Bitmain (China), NVIDIA (United States), Xilinx (United States), Intel (United States), Advanced Micro Devices (United States), Ripple Labs (United States), Ethereum Foundation (Switzerland), Bitfury Group (Netherlands), Coinbase (United States) and BitGo (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Binance Holdings (China), Canaan Creative (China), Bitstamp (Luxemburg), Ifinex (Hong Kong), Ledger SAS (France), Xapo (Hong Kong) and Alcheminer (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Cryptocurrency Services market by Type and Region with country level break-up.
On the basis of geography, the market of Cryptocurrency Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In January 2022, Bitmain-Backed BitFuFu (Finfront Holding Company), a World-Leading Digital Assets Cloud Mining Service Provider, Entered into a Definitive Merged Agreement with Arisz Acquisition Corp.
In 2021, announced the launch of Coinbase Giving. Coinbase Giving is the operational embodiment of our commitment to Pledge 1%: our promise to dedicate 1% of Coinbase profits, equity, and employee time toward charitable activities that leverage the power of crypto to increase economic freedom in the world.
May 20, 2021, the U.S. Department of the Treasury announced a proposal that would require taxpayers to report any cryptocurrency transaction of and above USD 10,000 to the IRS.
Influencing Trend:
Rise in Need for Transparency in the Payment System
Market Growth Drivers:
Growing Popularity of Digital Currency to Augment Growth
Challenges:
Raging Corona virus to Sway Market Potential
Restraints:
Lack of Regulations and Adoption of Cryptocurrencies
Opportunities:
Significant Growth in Emerging and Developed Markets
Key Target Audience
Cryptocurrency Services Developer, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others