Report Overview

The global cryptocurrency market attained a value of nearly USD 2.41 billion in 2023. The market is further expected to grow at a CAGR of 17.1% during the forecast period of 2024-2032 to reach a value of USD 10.0 billion by 2032.

2023

Base Year

2018-2023

Historical Year

2024-2032

Forecast Year

Global Cryptocurrency Market Report Summary Description Value
Base Year USD Billion 2023
Historical Period USD Billion 2018-2023
Forecast Period USD Billion 2024-2032
Market Size 2023 USD Billion 2.41
Market Size 2032 USD Billion 10.0
CAGR 2018-2023 Percentage XX%
CAGR 2024-2032 Percentage 17.1%
CAGR 2024-2032 - Market by Region Asia Pacific 21.4%
CAGR 2024-2032 - Market by Country India 22.4%
CAGR 2024-2032 - Market by Country Canada 20.0%
CAGR 2024-2032 - Market by Offering Software 21.0%
CAGR 2024-2032 - Market by Type Bitcoin 19.5%

cryptocurrency market

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Cryptocurrency Market Growth

Cryptocurrency is a type of digital currency which is encrypted using algorithms and is used for secure transactions. Cryptocurrency is based on blockchain technology, which uses distributed ledgers to keep track of transactions in a decentralised peer-to-peer network. It is the only currency that can be circulated without a central issuing authority such as a government or bank. Bitcoin is the most popular and widely used cryptocurrency. Other cryptocurrencies are Binance coin, Cardano, Ethereum, and Solana.

Digital investments through cryptocurrency can be highly lucrative. According to investors, cryptocurrency can be a profitable long-term investment which is attracting more individuals to invest in it, supplementing the growth of the cryptocurrency market.

Global Cryptocurrency Market Analysis

Regulations regarding the usage of cryptocurrency vary depending upon the region, resulting in great variations in the regional markets for cryptocurrency. For example, some countries do not accept cryptocurrencies as legal tender but do support and regulate cryptocurrency exchanges.

Although cryptocurrency can offer substantial gains, investing comes with high levels of risk, discouraging consumers from experimenting with cryptocurrency. Growing awareness regarding cryptocurrency is a key trend in the market that is driving the cryptocurrency market revenues.

Global Cryptocurrency Industry Outlook

As per industry findings, in 2023, Argentina leads with 26% of its population owning cryptocurrency, reflecting significant engagement. Brazil follows closely with 28%, indicating robust adoption of digital currencies. India has 27% of its population involved in crypto, marking substantial growth from previous years. South Africa shows 22% ownership, maintaining its strong presence in the crypto market.

As per cryptocurrency market analysis in 2023, the global crypto adoption index map highlights varying levels of cryptocurrency engagement across regions. South Asia, particularly India, shows the highest adoption rate. This underscores the region's rapid embrace of digital currencies. Southeast Asia and parts of Africa exhibit moderate adoption rates, reflecting growing interest and utilisation. In contrast, North America and Western Europe demonstrate lower but significant adoption levels, driven by mature financial markets and regulatory frameworks. Latin America shows diverse adoption rates, with some countries leading due to economic instability driving cryptocurrency use as an alternative financial system.

As per industry reports in 2023, Bitcoin Depot ranks first with 7,097 ATMs, capturing 19.6% of the market. CoinFlip follows with 4,253 ATMs and an 11.7% share. Bitstop is third, operating 2,533 ATMs with a 7% market share. RockItCoin and Athena rank fourth and fifth, with 2,248 (6.2%) and 2,183 (6%) ATMs, respectively. These top five operators collectively dominate the crypto ATM market, highlighting the growing infrastructure supporting cryptocurrency transactions and the competitive landscape among service providers.

Cryptocurrencies use blockchain technology for secure, decentralized transactions, enhancing trust and bolstering industry growth.

  • They facilitate borderless transactions, promoting financial inclusion and reducing cross-border transaction costs.
  • Increasing recognition by businesses and institutions as a legitimate asset class enhances market credibility and drives the growth of the cryptocurrency industry.

Evolving global regulations create compliance challenges and uncertainty for cryptocurrency enterprises.

  • High price volatility poses risks for investors and limits adoption for everyday transactions.
  • Past security breaches and scams contribute to negative perceptions, affecting overall market confidence.

Advancements like DeFi and NFTs introduce new applications, attracting investment and expanding cryptocurrency use cases.

  • Cryptocurrencies provide banking services to the unbanked, particularly in developing regions.
  • The cryptocurrency market dynamics and trends are driven by growing interest from institutional investors and hedge funds diversified portfolios.

Strict regulations or bans in key markets could impede the growth and adoption of cryptocurrencies.

  • Cybersecurity threats and hacking incidents jeopardize exchanges and investor trust.
  • Increasing competition from new cryptocurrencies and technological advancements challenges established players and market stability.

Key Players in the Global Cryptocurrency Market and their Strategic Initiatives

Nvidia Corporation

  • Launched GPUs optimized for cryptocurrency mining to meet the the cryptocurrency market demand, enhancing performance and efficiency for miners.
  • Expanded its market reach by partnering with blockchain developers and firms to integrate its technology into various blockchain applications.

Bitmain Technologies Holding Company

  • Developed and released cutting-edge ASIC miners, maintaining a competitive edge in the cryptocurrency mining hardware market.
  • Established mining pools and data centers globally, boosting its demographic reach and operational capabilities.

Advanced Micro Devices, Inc. (AMD)

  • Introduced specialized GPUs for blockchain and cryptocurrency mining, targeting improved hash rates and energy efficiency.
  • Collaborated with blockchain technology firms to integrate AMD hardware into decentralized applications and platforms.

Xilinx, Inc.

  • Offered FPGA-based solutions for cryptocurrency mining, catering to customizability and performance requirements.
  • Focused on expanding its global footprint by entering strategic partnerships to capture the growing the cryptocurrency market opportunities. 

cryptocurrency market by segments

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Global Cryptocurrency Industry Segmentation

“Global Cryptocurrency Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

Market Breakup by Offering

  • Hardware
    • ASIC
    • GPU
    • FPGA
    • Wallet
  • Software
    • Coin Wallet
    • Mining Platform
    • Exchange
    • Others

Market Breakup by Process

  • Mining
  • Transaction

Market Breakup by Type

  • Bitcoin
  • Ethereum (ETH)
  • Tether (USDT)
  • Ripple (XRP)
  • Binance Coin (BNB)
  • USD Coin (USDC)
  • Others

Market Breakup by End-User Industry

  • Trading
  • Banking
  • Real Estate
  • Retail and E-commerce 
  • Others

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
CAGR 2024-2032 - Market by Country
India 22.4%
Canada 20.0%
China 18.8%
USA 17.4%
Australia 14.5%
Japan 12.8%
UK XX%
Germany XX%
France XX%
Italy XX%
Saudi Arabia XX%
Brazil XX%
Mexico XX%

cryptocurrency market by region

Read more about this report - REQUEST FREE SAMPLE COPY IN PDF

Cryptocurrency Market Share

The cryptocurrency market revenue is substantially driven by the hardware segment of the setor due to the greater safety that it provides. Hardware wallets store the private information of individuals, including authorisation of outgoing transactions on the blockchain network in a hardware device. As the private keys are stored on hardware devices, they can be kept offline on separate drives, resulting in greater security.

Leading Companies in the Cryptocurrency Market

The companies provides hardware and software solutions that contribute significantly to the widespread adoption and normalisation of cryptocurrency trading and investment worldwide.

  • Nvidia Corporation 
  • Bitmain Technologies Holding Company 
  • Advanced Micro Devices, Inc 
  • Xilinx, Inc. 
  • Intel Corporation 
  • Coinbase Global, Inc. 
  • Bitfury Group Limited. 
  • ConsenSys Software Inc. 
  • Salad Technologies 
  • AlphaPoint Corporation 
  • Trezor Company s.r.o.

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Offering
  • Process
  • Type
  • End-User Industry
  • Region
Breakup by Offering
  • Hardware
  • Software
Breakup by Process
  • Mining
  • Transaction
Breakup by Type
  • Bitcoin
  • Ethereum (ETH)
  • Tether (USDT)
  • Ripple (XRP)
  • Binance Coin (BNB)
  • USD Coin (USDC)
  • Others
Breakup by End-User Industry
  • Trading
  • Banking
  • Real Estate
  • Retail and Ecommerce
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Nvidia Corporation
  • Bitmain Technologies Holding Company
  • Advanced Micro Devices, Inc
  • Xilinx, Inc.
  • Intel Corporation
  • Coinbase Global, Inc.
  • Bitfury Group Limited.
  • ConsenSys Software Inc.
  • Salad Technologies
  • AlphaPoint Corporation
  • Trezor Company s.r.o.
  • Others

Cryptocurrency Market Report Snapshots

Cryptocurrency Market Size

Cryptocurrency Market Growth

Cryptocurrency Market Analysis

Cryptocurrency Market Share

Cryptocurrency Companies

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*

Looking for specific insights?

Get in touch with us today for customized, data-driven solutions tailored to your unique requirements!

Key Questions Answered in the Report

The global market size for cryptocurrency reached a value of more than USD 2.41 billion in 2023.

The global market for cryptocurrency is expected to grow at a CAGR of 17.1% between 2024 and 2032.

Simple cross-border payment systems, blockchain security, and potential for lucrative investments are the major market drivers.

The key trends of the market are wider acceptance of cryptocurrencies as a payment mode, expansion of cryptocurrency exchanges, and greater awareness regarding investments and usage of cryptocurrencies.

The regional markets can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key players in the cryptocurrency market are Nvidia Corporation, Bitmain Technologies Holding Company, Advanced Micro Devices, Inc., Xilinx, Inc., Intel Corporation, Coinbase Global, Inc., Bitfury Group Limited, ConsenSys Software Inc., Salad Technologies, AlphaPoint Corporation, and Trezor Company s.r.o., among others.

Cryptocurrency is a type of digital currency which is used for transactions and is based on blockchain technology with encryption using algorithms.

It is the only currency that can be circulated without a central authority such as a government or bank. Different countries have issued regulations regarding the usage and trade of cryptocurrencies.

The Market is segmented based on offering, process, type, end-user and region.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 10.0 billion by 2032.

How To Order

Our step-by-step guide will help you select, purchase, and access your reports swiftly, ensuring you get the information that drives your decisions, right when you need it.

Select License Type

Choose the right license for your needs and access rights.

Click on ‘Buy Now’

Add the report to your cart with one click and proceed to register.

Select Mode of Payment

Choose a payment option for a secure checkout. You will be redirected accordingly.

Purchase Full Report

Datasheet

 

USD 2,199

USD 1,999

tax inclusive*

  • Selected Sections, One User
  • Printing Not Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Single User License

One User

USD 3,299

USD 2,999

tax inclusive*

  • All Sections, One User
  • One Print Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Five User License

Five Users

USD 4,399

USD 3,999

tax inclusive*

  • All Sections, Five Users
  • Five Prints Allowed
  • Email Delivery in PDF
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Corporate License

Unlimited Users

USD 5,499

USD 4,999

tax inclusive*

  • All Sections, Unlimited Users
  • Unlimited Prints Allowed
  • Email Delivery in PDF + Excel
  • Free Limited Customisation
  • Post Sales Analyst Support
  • 50% Discount on Next Update

Connect For More Information

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.

We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.

Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.

We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.

Strategic Solutions for Informed Decision-Making

Back to top

We’re here to help answer any questions about our products and services.

Contact us

Locations


United States (Head Office)

30 North Gould Street, Sheridan, WY 82801

+1-415-325-5166

Australia

63 Fiona Drive, Tamworth, NSW

+61 448 06 17 27

India

C130 Sector 2 Noida, Uttar Pradesh 201301

+91-858-608-1494

Philippines

40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City,1226.

+63 287899028, +63 967 048 3306

United Kingdom

6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London

+44-753-713-2163

Vietnam

193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City

+84865399124