Global Cryptocurrency Market Size Analysis, 2018-2028

REPORT ID: BKR659Domain: Smart TechnologiesPublished Date: April 2018

 

 

Global Cryptocurrency Market Size Analysis

The Global Cryptocurrency Market Size is estimated to be valued over USD 283.5 Billion in 2018 and will register a CAGR of 43.7% to create high revenue opportunity for industry players during the forecast period (2018-2028).

Digitized assets and innovative financial channels, instruments and systems are creating new paradigms for financial transaction and forging alternative conduits of capital. Almost a decade ago, investing into cryptocurrency was a niche and absurd idea. But today, it is emerging as one of the top investment platform. Bitcoin is the first decentralized cryptocurrency that emerged as an alternative to conventional currencies such as Euros and Dollars.

In contrast, a number of cryptocurrencies have emerged that borrow the same concept of Bitcoin but offer innovative features such as new consensus mechanism, smart contract capabilities, and enable non-monetary use cases. These innovations can be grouped into two categories; first involves innovation at the core i.e., the block chain systems and the other at the application level built on top of the core existing block chain systems.

Global Cryptocurrency Market Drivers and Challenges

Global cryptocurrency market is driven primarily due to the robust backend technology known as block chain that enables a safer way to secure transactions. Cryptocurrencies use two mechanisms to prevent unauthorized copying which is a big challenge with digital currency. It involves two mechanisms, the first is to publish every transaction in a public record and to store numerous copies of this ledger online in a way that allows them all to be automatically compared and updated.  And the second is to protect the ledger cryptographically. Every update collects together a range of new transactions and adds them to the existing ledger. But to do this, the earlier version of the ledger is first frozen and encrypted.

In addition, growing remittance in developing countries, significant increase in venture capital investments and growing popularity of digital transactions across the globe are expected to fuel the demand of the cryptocurrency market to a certain extent.

Limited support by leading financial authorities in certain countries is anticipated to hamper the growth of the cryptocurrency transactions in the near future. For example; In April, 2018, the Reserve Bank of India issued a notification prohibiting the country’s banks and financial institutions from dealing in cryptocurrencies, and providing services to entities dealing in them. Although certain countries such as India and China proposed prohibiting the use of cryptocurrency other countries such as Malaysia, Switzerland and Singapore have accepted the processing of digital currency under certain regulations.

Global Cryptocurrency Market Analysis, By Application

Cryptocurrency market size will be driven by usage across wide range of applications namely – BFSI, Healthcare, Retail, Telecom, IT services, Transportation and Logistics, Media & Entertainment, Gaming Industry, Others.

BFSI and IT will collectively account for largest share of global demand in 2018 primarily due to the high price of the cryptocurrency which lead to large investments by these firms.

Global Cryptocurrency Market Size Analysis, By Coin Type

Bitcoin currently dominates the global cryptocurrency market value with over 70% market capitalization followed by Ether with 16% market share in 2018. The dominance is expected to continue primarily due to the wide application use cases such as speculation and for non-monetary uses such as timestamping. Top ten cryptocurrency acquire shares of over 95% of the global capital.

Global Cryptocurrency Market Analysis, By Enterprise

Large scale enterprise segment dominates the cryptocurrency market size and is expected to lose its dominance to small and med sized enterprise primarily due to the emergence of various players in Asia Pacific region and in addition to the low tax structures imposed by government of certain countries for small scale businesses in cryptocurrency.

Global Cryptocurrency Market Size and Forecast: Regional Analysis

The market in North America currently dominates the global cryptocurrency market share followed by Europe, primarily due to early adoption and emergence of large number of mid-size player along with the dominance of large players in the region. In addition, to the favorable regulatory environment which resulted in the growth in the demand of the cryptocurrency market in the region.

Asia Pacific cryptocurrency market pose a lucrative opportunity for large players to invest in the coming years and is forecast to grow at a high rate during the forecast period. The mining segment in Asia Pacific region especially in China accounts for the largest share as 58% of mining pools with greater than 1% of the total bitcoin hash rate are based in China, followed by the US with 16% share.

Global Cryptocurrency Market Size and Forecast: Competition Landscape

Global cryptocurrency market outlook is substantially fragment with various small and medium-sized players. Bitfinex, BitFury Group Limited, Bitstamp Ltd., Coinbase, Coinsecure, Litecoin, OKEX Fintech Company Limited, Poloniex Inc., Ripple labs, Unocoin Technologies Private Limited, and ZEB IT Service Pvt. Ltd.

Cryptocurrency Market Industry Segmentation

BY Coin Type  

  • Bitcoin (BTC)
  • Ether (ETH)
  • Dash
  • Monero (XMR)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Others

 

By Application:

  • BFSI
  • Healthcare
  • Retail
  • Telecom
  • IT services
  • Transportation and Logistics
  • Media & Entertainment
  • Gaming Industry
  • Others

By Organization Size:

  • Large Scale Enterprises
  • Mid-Scale Enterprises
  • Small Scale Enterprises

By Components:

  • Exchanges
    • Small Exchanges
    • Large Exchanges
  • Wallets
    • Registered Corporation
    • Volunteer Projects
  • Payments
    • Payment Rail
      • Money Transfer Services
      • B2B Payments
    • Cryptocurrency Payments
      • Merchant Services
      • General Purpose Cryptocurrency Platform
    • Mining
      • Mining
      • Mining Pool
      • Mining Hardware Manufacturing
      • Cloud Mining Services
      • Remote Hosting Services

What Will You Discover in the Report?

  • An in-depth analysis of the Cryptocurrency market across regions – North America, Latin America, Western Europe, Central and Eastern Europe, Asia Pacific, Middle East, and Africa.
  • How the Cryptocurrency market sales is expected to grow throughout the forecast period.
  • How geopolitical policies and technological changes will affect the Cryptocurrency market in near future
  • Where the stakeholders should invest to generate higher profit margins
  • How consumers (end-users) will reflect to the Cryptocurrency industry during the forecast period
  • Who are the Cryptocurrency industry leaders and what are the key initiatives taken by them for long term growth

Analyst access with Bekryl Market Analysts

Purchasing of Cryptocurrency market research report will give clients access to 120 minutes telephonic access with a research analyst. The duration for access to analysts will be based on the report subscription editions.

Cryptocurrency Market Size TOC

  1. Report Structure
  2. Research Methodology
    • Market Engineering Factors Weightage
    • Market Share Methodology
  3. Executive Summary
    • Key Findings
    • Market Engineering Factors
    • Industry Expert Perspectives
  4. Market Definitions
  5. The Global Cryptocurrency Market Value
    • Overall Market Forecast
    • Cryptocurrency Growth Outlook, By Segments
    • Cryptocurrency Growth Scenario, by Region
  6. The Cryptocurrency Industry Ecosystem
    • Parent Market Overview
    • Industry Value Chain
    • Growth Factor Analysis
    • Key Industry Players By Region
  7. The Cryptocurrency Industry Dynamics
    • Drivers
    • Challenges
    • Opportunities
    • Mega Trends
    • Geographical Trends
    • Industry Experts Views
    • Merger Acquisition and Compliances, By Selected countries
  8. Global Cryptocurrency Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Industry Predictive Analysis
    • Cryptocurrency Industry Segment Comparative Ranking Analysis
    • Key Companies Involved and Initiatives
    • Global Industry Opportunity Proposition Analysis
    • Market Share Analysis, (%)
    • Global Cryptocurrency Market Size and Forecast, (2017-2027)
      • Market Value Forecast (US$ Million)
      • Growth Analysis (Y-o-Y) and Forecast
  1. Global Cryptocurrency Industry Size and Forecast, By Segments

By Coin Type  

  • Bitcoin (BTC)
  • Ether (ETH)
  • Dash
  • Monero (XMR)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Others

By Application:

  • BFSI
  • Healthcare
  • Retail
  • Telecom
  • IT services
  • Transportation and Logistics
  • Media & Entertainment
  • Gaming Industry
  • Others

By Organization Size:

  • Large Scale Enterprises
  • Mid-Scale Enterprises
  • Small Scale Enterprises

By Components:

  • Exchanges
    • Small Exchanges
    • Large Exchanges
  • Wallets
    • Registered Corporation
    • Volunteer Projects
  • Payments
    • Payment Rail
      • Money Transfer Services
      • B2B Payments
    • Cryptocurrency Payments
      • Merchant Services
      • General Purpose Cryptocurrency Platform
    • Mining
      • Mining
      • Mining Pool
      • Mining Hardware Manufacturing
      • Cloud Mining Services
      • Remote Hosting Services
  1. North America Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis
    • North America Cryptocurrency Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • North America Cryptocurrency Market, By Segments (As mentioned in section 10 of TOC)
    • S. Cryptocurrency Market Size and Forecast, By Segments
    • Canada Cryptocurrency Market Size and Forecast, By Segments
  2. Latin America Cryptocurrency Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Latin America (South America) Cryptocurrency Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
      • Latin America Cryptocurrency Market, By Segments (As mentioned in section 10 of TOC)
    • Brazil Cryptocurrency Market Size and Forecast, By Segments
    • Argentina
    • Mexico
    • Rest of Latin America

(Cryptocurrency industry analysis covered across Latin America countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Western Europe Cryptocurrency Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Western Europe Cryptocurrency Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Western Europe Cryptocurrency Market, By Segments (As mentioned in section 10 of TOC)
    • Germany Cryptocurrency Market Size and Forecast, By Segments
    • UK
    • France
    • Spain
    • Italy
    • NORDIC
    • Switzerland
    • Rest of Western Europe

(Cryptocurrency industry analysis covered across Western Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Central and Eastern Europe (CEE) Cryptocurrency Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Regional Countries
    • Central and Eastern Europe Cryptocurrency Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Central and Eastern Europe Cryptocurrency Market, By Segments (As mentioned in section 10 of Cryptocurrency Market TOC)
    • Russia Cryptocurrency Market Size and Forecast, By Segments
    • Poland
    • Ukraine
    • Rest of CEE

(Cryptocurrency industry analysis is covered across Central and Eastern Europe countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Asia Pacific Cryptocurrency Industry Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Asia Pacific Countries
    • Asia Pacific Cryptocurrency Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Asia Pacific Cryptocurrency Market, By Segments (As mentioned in section 10 of TOC)
    • Japan Cryptocurrency Market Size and Forecast, By Segments
    • China
    • India
    • South Korea
    • Australia
    • ASEAN
    • Rest of Asia Pacific

(Cryptocurrency industry analysis is covered across Asia Pacific countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Middle East Cryptocurrency Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Middle East Countries
    • Middle East Cryptocurrency Market Analysis
      • Industry Size and Forecast, (2017-2027)
      • Industry Share (%)
      • Industry Growth Forecast (%)
    • Middle East Cryptocurrency Market, By Segments (As mentioned in section 10 of TOC)
    • GCC Cryptocurrency Market Size and Forecast, By Segments
    • Israel
    • Rest of Middle East

(Cryptocurrency industry analysis is covered across Middle East countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Africa Cryptocurrency Market Value and Forecast
    • Introduction
    • Industry Initiatives
    • Bekryl Predictive Analysis
    • Comparative Ranking Analysis, By Segments (As mentioned in section 10)
    • Key Companies Involved and Initiatives, By Region
    • Industry Value Proposition Analysis, By Africa Countries
    • Market Share Analysis, (%)
    • Africa Cryptocurrency Industry Size and Forecast, (2017-2027)
    • Africa Cryptocurrency Industry Share (%)
    • Africa Cryptocurrency Industry Growth Forecast (%)
    • South Africa Cryptocurrency Market Size and Forecast, By Segments
    • Algeria
    • Nigeria

(Cryptocurrency industry analysis is covered across Africa countries by segments mentioned in section 10. Request Sample to access detailed TOC and Research Framework)

  1. Cryptocurrency Market Competitive Landscape
    • Competition Dashboard
    • Funding and Investment
    • Company Market Positioning
    • Marketing Mix Strategies
    • Product Level Strategies
    • Go-to-Market Strategies
    • SWOT Analysis
    • Key Developments, By Companies
    • Company Profiles*
      • Bitfinex,
      • BitFury Group Limited,
      • Bitstamp Ltd.,
      • Coinbase,
      • Coinsecure,
      • Litecoin,
      • OKEX Fintech Company Limited,
      • Poloniex Inc.,
      • Ripple labs,
      • Unocoin Technologies Private Limited,
      • ZEB IT Service Pvt. Ltd.
  1. Analyst Opinion
  2. Summary and Conclusion
  3. For more Information, Bekryl can help

*(SWOT, Key Developments, and Strategies are based on individual companies) To access the detailed Cryptocurrency industry TOC and sample research pages, download sample. Get Sample Report  

Cryptocurrency Market Report Structure

Cryptocurrency Industry Dynamics

This section enables Cryptocurrency industry stakeholders to understand the prevalent market conditions and help them prioritize their investment strategy. Factors that are favorable to Cryptocurrency market growth is equated with challenges – resulting in proper growth strategy module. Drivers and challenges provide early assessment of current Cryptocurrency industry trends and keep industry leaders abreast of latest happenings.

This section includes:

  • Market Drivers
  • Market Challenges
  • Cryptocurrency Industry Trends
  • Cryptocurrency Value Chain Analysis
  • Marketing Opportunities
  • Regulatory Aspects
  • Cryptocurrency Industry Experts Market Opinion

Industry Analysis, By Segments

Industry stakeholders receive detailed analysis of the Cryptocurrency industry trends. Anticipate key market trends across market analysis segments with Bekryl Market Analysts model.

Each segment has research framework, essential to understand the market scenario in near future.

Each segment includes:

  • Market Size and Forecast
  • Annual Growth Rate Analysis (AGR)
  • Key Trends, By segments
  • Key Industry Developments
  • Investment Proposition Analysis
  • Potential Addressable Market Analysis
  • Growth Factor, By Segment Analysis

This section helps in understanding the overall demand across end-users. As such, the industry stakeholders are able to minimize the operational cost and take better strategic decisions.

Competition Landscape

Keep abreast of key strategies of industry leaders and regional Cryptocurrency industry players. Company profiles allow industry stakeholders to competitor’s strategic decision and understand how these affect their own business.

This section include:

  • Competition dashboard
  • SWOT Analysis by Companies
  • Go-to-market sales strategy
  • Financial performances subject to listed companies
  • Market Share Analysis
  • Analyst Recommendation

 

Regional Market Analysis

Regional analysis help industry leaders to better understand the dynamics of their current market and determine which regional market their company should target to strengthen their market presence globally. The Cryptocurrency market report offers industry scenario in 24+ countries. Regional section focus on economic context, regulatory framework, supply demand balance trends and key regional companies engaged in the market.

This section include:

  • Market Size by Country and Region
  • Market Opportunity, By Country and Region
  • Regional Trends
  • Growth Analysis and Forecast

Country Profiles

Country profiles help industry leaders to better analyze the market at root level – thereby framing strategies that could add value to the overall organization. This section contains information pertaining to key developments and research framework mapping the potential attractive end-users. Factors are equated with macroeconomic conditions to help leaders minimize operational risks if any

North America Cryptocurrency Market Size

  • S.
  • Canada

Latin America Cryptocurrency Market Size

  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America

(*Cryptocurrency Market value analyzed across each Latin America country)

Western Europe Cryptocurrency Market Size

  • Germany
  • UK
  • France
  • Switzerland
  • Spain
  • Italy
  • NORDIC
  • Rest of Western Europe

(*Cryptocurrency Market value analyzed across each Western Europe country)

Central and Eastern Europe Cryptocurrency Industry Analysis

  • Russia
  • Poland Meat
  • Ukraine Meat
  • Rest of Eastern Europe

(*Cryptocurrency Market value analyzed across each Central and Eastern Europe country)

Asia Pacific Cryptocurrency Industry Size

  • China
  • India
  • Japan
  • Australia
  • South Korea
  • ASEAN Meat
  • Rest of Asia Pacific

(*Cryptocurrency Market value analyzed across each Asia Pacific country)

Middle East Cryptocurrency Industry Size

  • GCC
  • Israel
  • Rest of Middle East

(*Cryptocurrency Market value analyzed across each Middle East country)

Africa Cryptocurrency Industry Size

  • South Africa
  • Algeria
  • Nigeria
  • Rest of Africa

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Cryptocurrency Market Research Methodology

Bekryl Market Analysts has earned reputation within the market research and consulting industry for its ability to not only collect and reprint data but also its ability to build upon its extensive models and databases to provide meaningful forecasting and strategic planning services to clients.

Our research analyst and industry experts thoroughly investigates the industry by extensively interviewing the industry leaders and analyzing information from various secondary sources. The information collected is analyzed with the help of analytical tools to offer real time forecast solutions.

Cryptocurrency Market Growth Forecasting Methodology

In order to prepare historical data and analyze Cryptocurrency market forecast, Bekryl prepare data for product supply and actual demand from end-use consumers. Through this, we get to know actual demand for Cryptocurrency market globally. The data collection is done through secondary and primary market research and then a constructive model is developed.

  • Secondary market research involves data collection through various paid publications and government agencies. Various journals and pre-encrypt transcripts is decoded to get the real time data solutions
  • The data collected through secondary research is then validated with the industry experts to minimize the anomaly and reflect key stakeholders opinion in the report.

With the model constructed, the cluttered data collected through different sources is structured with the help of proprietary analytical tools – making us understand the variation happened in the current year compared to historical years. To forecast Cryptocurrency market revenue, Bekryl Market Analysts takes in consideration the demand growth of the segments. Demand for the product is dependent on end-user spending which is a function of many factors: amongst them macroeconomic strength, price variation and other base factors.

The forecast methodology requires extensive data analysis across countries. Among all the factors, GVA and GDP output is considered as the first set of approximation. Bekryl Market Analysts has developed a demand driven model based on GDP across targeted countries.  Under this, co-relation is analyzed between product and GDP – resulting in a constant GDP-Product coefficient. Higher the coefficient- greater will be the growth rate. For instance, GDP-Product segment coefficient matrix of 3 denotes Cryptocurrency industry growth is nearly 3.5X to 5.5X higher than the relative GDP.

Besides GDP-Product Coefficient, Bekryl establishes following relation variation for higher predictive analysis.

  • Base Factors Growth Analysis
  • Price Variation Analysis
  • Potential Consumer Mapping

 

Cryptocurrency Industry Players: Competition Landscape Methodology

Bekryl maps key market players across regions. Financial ratios is taken in consideration along with regional presence and their value chain to understand the company market strength. Thereafter, investment proposition for each company is proposed which gives coefficient matrix value for the company. Industry experts is also reflected in company landscape.

 



   
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By | 2018-04-16T12:09:27+00:00 April 16th, 2018|