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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.
Base Year
Historical Year
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% |
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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.
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.
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.
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“Global Cryptocurrency Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Offering
Market Breakup by Process
Market Breakup by Type
Market Breakup by End-User Industry
Market Breakup by Region
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% |
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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.
The companies provides hardware and software solutions that contribute significantly to the widespread adoption and normalisation of cryptocurrency trading and investment worldwide.
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:
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Breakup by Offering |
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Breakup by Process |
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Breakup by Type |
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Breakup by End-User Industry |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*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.*
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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.
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