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Global Cryptocurrency Market to Grow at a CAGR of 17.10% During 2024-2032, Driven by the Increasing Awareness and Adoption of Digital Currency as a Modes of Payment

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Global Cryptocurrency Market Size, Share, Growth, Analysis: By Offering: Hardware, Software; By Process: Mining, Transaction, By Type: Bitcoin, Ethereum (ETH), Tether (USDT), Ripple (XRP), Binance Coin (BNB), USD Coin (USDC), Others; By End-User Industry; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032

Global Cryptocurrency Market Outlook

The global market size for cryptocurrency reached a value of more than USD 2.41 billion in 2023. The global cryptocurrency market is expected to grow at a CAGR of 17.10% between 2024 and 2032.

cryptocurrency market

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Key Trends in the Market

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 cryptocurrency market growth.

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 can help users gain confidence in cryptocurrency.

Market Analysis

cryptocurrency market by segments

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Based on offering, the cryptocurrency market can be bifurcated into hardware and software. Hardware is subdivided by type into ASIC, GPU, FPGA, and Wallet while software is further divided by type into coin wallet, mining platform, exchange, and others.

On the basis of process, the market is split into mining and transaction. Based on type, the market is segmented into Bitcoin, Ethereum (ETH), Tether (USDT), Ripple (XRP), Binance coin (BNB), USD coin (USDC), and others. By end-user industry, the market is divided into trading, banking, real estate, retail and ecommerce, and others. Based on region, the market can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global cryptocurrency market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

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

Market Share by Offering

The hardware segment of the cryptocurrency market is expected to witness substantial growth due to the greater safety that it provides. Hardware wallets store 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.

Software wallets on the other hand are installed on any device such as PC or smartphone which stores the private key of the user, keeping all tokens and cryptocurrencies in one place, increasing the risk of hacking.

Market Share by Process

Trading refers to the buying and selling of crypto assets through online platforms and tends to be time consuming, requiring effort and basic knowledge of cryptocurrency to gain adequate returns.

Mining is the process of solving codes to find cryptocurrencies, using technology to add transactions directly to the blockchain. Cryptocurrency mining requires strong infrastructure with powerful computer equipment, resulting in high investment costs. While initially cryptocurrency mining was relatively straightforward, it has become more complex in recent years.

Due to the high investment costs and need for specialised knowledge for cryptocurrency mining, the trading segment is anticipated to witness higher growth in the cryptocurrency market.

cryptocurrency market by region

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Competitive Landscape

Nvidia Corporation founded in 1993 has its headquarter in California, United States. It is a technology company that designs and manufactures graphics processing units, desktop computers, and mobile technology with an aim to provide solutions for the most critical problems.

Bitmain Technologies Holding Company is a privately owned cryptocurrency company which was established in 2013 and has its headquarters in Beijing, China. They serve customers all over the world by mining bitcoin and designing ASIC (Application Specific Integrated Circuit) chips.

Advanced Micro Devices, Inc. founded in 1969 has its headquarter located in California in the United States. It is an American Semiconductor Company that manufactures computer processors and similar technologies for their customers and related industries.

Other market players include 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.

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

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1   Preface
2   Report Coverage – Key Segmentation and Scope
3   Report Description
   3.1   Market Definition and Outlook
   3.2   Properties and Applications
   3.3   Market Analysis
   3.4   Key Players
4   Key Assumptions
5   Executive Summary
   5.1   Overview
   5.2   Key Drivers
   5.3   Key Developments
   5.4   Competitive Structure
   5.5   Key Industrial Trends
6   Market Snapshot
   6.1   Global
   6.2   Regional
7   Industry Opportunities and Challenges
8   Global Cryptocurrency Market Analysis
   8.1   Key Industry Highlights
   8.2   Global Cryptocurrency Historical Market (2018-2023)
   8.3   Global Cryptocurrency Market Forecast (2024-2032)
   8.4   Global Cryptocurrency Market by Offering
       8.4.1   Hardware
           8.4.1.1   Market Share
           8.4.1.2   Historical Trend (2018-2023)
           8.4.1.3   Forecast Trend (2024-2032)
           8.4.1.4   Breakup by Type
               8.4.1.4.1   ASIC
               8.4.1.4.2   GPU
               8.4.1.4.3   FPGA
               8.4.1.4.4   Wallet
       8.4.2   Software
           8.4.2.1   Market Share
           8.4.2.2   Historical Trend (2018-2023)
           8.4.2.3   Forecast Trend (2024-2032)
           8.4.2.4   Breakup by Type
               8.4.2.4.1   Coin Wallet
               8.4.2.4.2   Mining Platform
               8.4.2.4.3   Exchange
               8.4.2.4.4   Others
   8.5   Global Cryptocurrency Market by Process
       8.5.1   Mining
           8.5.1.1   Market Share
           8.5.1.2   Historical Trend (2018-2023)
           8.5.1.3   Forecast Trend (2024-2032)
       8.5.2   Transaction
           8.5.2.1   Market Share
           8.5.2.2   Historical Trend (2018-2023)
           8.5.2.3   Forecast Trend (2024-2032)
   8.6   Global Cryptocurrency Market by Type
       8.6.1   Bitcoin
           8.6.1.1   Market Share
           8.6.1.2   Historical Trend (2018-2023)
           8.6.1.3   Forecast Trend (2024-2032)
       8.6.2   Ethereum (ETH)
           8.6.2.1   Market Share
           8.6.2.2   Historical Trend (2018-2023)
           8.6.2.3   Forecast Trend (2024-2032)
       8.6.3   Tether (USDT)
           8.6.3.1   Market Share
           8.6.3.2   Historical Trend (2018-2023)
           8.6.3.3   Forecast Trend (2024-2032)
       8.6.4   Ripple (XRP)
           8.6.4.1   Market Share
           8.6.4.2   Historical Trend (2018-2023)
           8.6.4.3   Forecast Trend (2024-2032)
       8.6.5   Binance Coin (BNB)
           8.6.5.1   Market Share
           8.6.5.2   Historical Trend (2018-2023)
           8.6.5.3   Forecast Trend (2024-2032)
       8.6.6   USD Coin (USDC)
           8.6.6.1   Market Share
           8.6.6.2   Historical Trend (2018-2023)
           8.6.6.3   Forecast Trend (2024-2032)
       8.6.7   Others
   8.7   Global Cryptocurrency Market by End-User Industry
       8.7.1   Trading
           8.7.1.1   Market Share
           8.7.1.2   Historical Trend (2018-2023)
           8.7.1.3   Forecast Trend (2024-2032)
       8.7.2   Banking
           8.7.2.1   Market Share
           8.7.2.2   Historical Trend (2018-2023)
           8.7.2.3   Forecast Trend (2024-2032)
       8.7.3   Real Estate
           8.7.3.1   Market Share
           8.7.3.2   Historical Trend (2018-2023)
           8.7.3.3   Forecast Trend (2024-2032)
       8.7.4   Retail and Ecommerce
           8.7.4.1   Market Share
           8.7.4.2   Historical Trend (2018-2023)
           8.7.4.3   Forecast Trend (2024-2032)
       8.7.5   Others
   8.8   Global Cryptocurrency Market by Region
       8.8.1   North America
           8.8.1.1   Market Share
           8.8.1.2   Historical Trend (2018-2023)
           8.8.1.3   Forecast Trend (2024-2032)
       8.8.2   Europe
           8.8.2.1   Market Share
           8.8.2.2   Historical Trend (2018-2023)
           8.8.2.3   Forecast Trend (2024-2032)
       8.8.3   Asia Pacific
           8.8.3.1   Market Share
           8.8.3.2   Historical Trend (2018-2023)
           8.8.3.3   Forecast Trend (2024-2032)
       8.8.4   Latin America
           8.8.4.1   Market Share
           8.8.4.2   Historical Trend (2018-2023)
           8.8.4.3   Forecast Trend (2024-2032)
       8.8.5   Middle East and Africa
           8.8.5.1   Market Share
           8.8.5.2   Historical Trend (2018-2023)
           8.8.5.3   Forecast Trend (2024-2032)
9   North America Cryptocurrency Market Analysis
   9.1   United States of America
       9.1.1   Market Share
       9.1.2   Historical Trend (2018-2023)
       9.1.3   Forecast Trend (2024-2032)
   9.2   Canada
       9.2.1   Market Share
       9.2.2   Historical Trend (2018-2023)
       9.2.3   Forecast Trend (2024-2032)
10   Europe Cryptocurrency Market Analysis
   10.1   United Kingdom
       10.1.1   Market Share
       10.1.2   Historical Trend (2018-2023)
       10.1.3   Forecast Trend (2024-2032)
   10.2   Germany
       10.2.1   Market Share
       10.2.2   Historical Trend (2018-2023)
       10.2.3   Forecast Trend (2024-2032)
   10.3   France
       10.3.1   Market Share
       10.3.2   Historical Trend (2018-2023)
       10.3.3   Forecast Trend (2024-2032)
   10.4   Italy
       10.4.1   Market Share
       10.4.2   Historical Trend (2018-2023)
       10.4.3   Forecast Trend (2024-2032)
   10.5   Others
11   Asia Pacific Cryptocurrency Market Analysis
   11.1   China
       11.1.1   Market Share
       11.1.2   Historical Trend (2018-2023)
       11.1.3   Forecast Trend (2024-2032)
   11.2   Japan
       11.2.1   Market Share
       11.2.2   Historical Trend (2018-2023)
       11.2.3   Forecast Trend (2024-2032)
   11.3   India
       11.3.1   Market Share
       11.3.2   Historical Trend (2018-2023)
       11.3.3   Forecast Trend (2024-2032)
   11.4   ASEAN
       11.4.1   Market Share
       11.4.2   Historical Trend (2018-2023)
       11.4.3   Forecast Trend (2024-2032)
   11.5   Australia
       11.5.1   Market Share
       11.5.2   Historical Trend (2018-2023)
       11.5.3   Forecast Trend (2024-2032)
   11.6   Others
12   Latin America Cryptocurrency Market Analysis
   12.1   Brazil
       12.1.1   Market Share
       12.1.2   Historical Trend (2018-2023)
       12.1.3   Forecast Trend (2024-2032)
   12.2   Argentina
       12.2.1   Market Share
       12.2.2   Historical Trend (2018-2023)
       12.2.3   Forecast Trend (2024-2032)
   12.3   Mexico
       12.3.1   Market Share
       12.3.2   Historical Trend (2018-2023)
       12.3.3   Forecast Trend (2024-2032)
   12.4   Others
13   Middle East and Africa Cryptocurrency Market Analysis
   13.1   Saudi Arabia
       13.1.1   Market Share
       13.1.2   Historical Trend (2018-2023)
       13.1.3   Forecast Trend (2024-2032)
   13.2   United Arab Emirates
       13.2.1   Market Share
       13.2.2   Historical Trend (2018-2023)
       13.2.3   Forecast Trend (2024-2032)
   13.3   Nigeria
       13.3.1   Market Share
       13.3.2   Historical Trend (2018-2023)
       13.3.3   Forecast Trend (2024-2032)
   13.4   South Africa
       13.4.1   Market Share
       13.4.2   Historical Trend (2018-2023)
       13.4.3   Forecast Trend (2024-2032)
   13.5   Others
14   Market Dynamics
   14.1   SWOT Analysis
       14.1.1   Strengths
       14.1.2   Weaknesses
       14.1.3   Opportunities
       14.1.4   Threats
   14.2   Porter’s Five Forces Analysis
       14.2.1   Supplier’s Power
       14.2.2   Buyer’s Power
       14.2.3   Threat of New Entrants
       14.2.4   Degree of Rivalry
       14.2.5   Threat of Substitutes
15   Regulation and Policy
16   Competitive Landscape
   16.1   Market Structure
   16.2   Company Profiles
       16.2.1   Nvidia Corporation
           16.2.1.1   Company Overview
           16.2.1.2   Product Portfolio
           16.2.1.3   Demographic Reach and Achievements
           16.2.1.4   Certifications
       16.2.2   Bitmain Technologies Holding Company
           16.2.2.1   Company Overview
           16.2.2.2   Product Portfolio
           16.2.2.3   Demographic Reach and Achievements
           16.2.2.4   Certifications
       16.2.3   Advanced Micro Devices, Inc.
           16.2.3.1   Company Overview
           16.2.3.2   Product Portfolio
           16.2.3.3   Demographic Reach and Achievements
           16.2.3.4   Certifications
       16.2.4   Xilinx, Inc.
           16.2.4.1   Company Overview
           16.2.4.2   Product Portfolio
           16.2.4.3   Demographic Reach and Achievements
           16.2.4.4   Certifications
       16.2.5   Intel Corporation
           16.2.5.1   Company Overview
           16.2.5.2   Product Portfolio
           16.2.5.3   Demographic Reach and Achievements
           16.2.5.4   Certifications
       16.2.6   Coinbase Global, Inc.
           16.2.6.1   Company Overview
           16.2.6.2   Product Portfolio
           16.2.6.3   Demographic Reach and Achievements
           16.2.6.4   Certifications
       16.2.7   Bitfury Group Limited.
           16.2.7.1   Company Overview
           16.2.7.2   Product Portfolio
           16.2.7.3   Demographic Reach and Achievements
           16.2.7.4   Certifications
       16.2.8   ConsenSys Software Inc.
           16.2.8.1   Company Overview
           16.2.8.2   Product Portfolio
           16.2.8.3   Demographic Reach and Achievements
           16.2.8.4   Certifications
       16.2.9   Salad Technologies
           16.2.9.1   Company Overview
           16.2.9.2   Product Portfolio
           16.2.9.3   Demographic Reach and Achievements
           16.2.9.4   Certifications
       16.2.10   AlphaPoint Corporation
           16.2.10.1   Company Overview
           16.2.10.2   Product Portfolio
           16.2.10.3   Demographic Reach and Achievements
           16.2.10.4   Certifications
       16.2.11   Trezor Company s.r.o.
           16.2.11.1   Company Overview
           16.2.11.2   Product Portfolio
           16.2.11.3   Demographic Reach and Achievements
           16.2.11.4   Certifications
       16.2.12   Others
17   Key Trends and Developments in the Market

List of Figures and Tables

1.   Global Cryptocurrency Market: Key Industry Highlights, 2018 and 2032
2.   Global Cryptocurrency Historical Market: Breakup by Offering (USD Million), 2018-2023
3.   Global Cryptocurrency Market Forecast: Breakup by Offering (USD Million), 2024-2032
4.   Global Cryptocurrency Historical Market: Breakup by Process (USD Million), 2018-2023
5.   Global Cryptocurrency Market Forecast: Breakup by Process (USD Million), 2024-2032
6.   Global Cryptocurrency Historical Market: Breakup by Type (USD Million), 2018-2023
7.   Global Cryptocurrency Market Forecast: Breakup by Type (USD Million), 2024-2032
8.   Global Cryptocurrency Historical Market: Breakup by End Use Industry (USD Million), 2018-2023
9.   Global Cryptocurrency Market Forecast: Breakup by End Use Industry (USD Million), 2024-2032
10.   Global Cryptocurrency Historical Market: Breakup by Region (USD Million), 2018-2023
11.   Global Cryptocurrency Market Forecast: Breakup by Region (USD Million), 2024-2032
12.   North America Cryptocurrency Historical Market: Breakup by Country (USD Million), 2018-2023
13.   North America Cryptocurrency Market Forecast: Breakup by Country (USD Million), 2024-2032
14.   Europe Cryptocurrency Historical Market: Breakup by Country (USD Million), 2018-2023
15.   Europe Cryptocurrency Market Forecast: Breakup by Country (USD Million), 2024-2032
16.   Asia Pacific Cryptocurrency Historical Market: Breakup by Country (USD Million), 2018-2023
17.   Asia Pacific Cryptocurrency Market Forecast: Breakup by Country (USD Million), 2024-2032
18.   Latin America Cryptocurrency Historical Market: Breakup by Country (USD Million), 2018-2023
19.   Latin America Cryptocurrency Market Forecast: Breakup by Country (USD Million), 2024-2032
20.   Middle East and Africa Cryptocurrency Historical Market: Breakup by Country (USD Million), 2018-2023
21.   Middle East and Africa Cryptocurrency Market Forecast: Breakup by Country (USD Million), 2024-2032
22.   Global Cryptocurrency Market Structure

Key Questions Answered in the Report

What was the global cryptocurrency market size in 2023?

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

What is the growth rate of the global cryptocurrency market?

The global market for cryptocurrency is expected to grow at a CAGR of 17.10% between 2024 and 2032.

What are the major global cryptocurrency market drivers?

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

What are the key trends of the market?

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.

What are the major regional markets?

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

Who are the key market players?

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.

What is meant by cryptocurrency?

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

How is cryptocurrency regulated?

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.

How is the market segmented?

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

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