| Cryptocurrency refers to digital money protected by cryptographic systems to monitor transactions and prevent counterfeit. It operates via decentralized networks that are based on blockchain technology. It is not issued by a central authority and consequently has minimal intervention and manipulation of the government as compared to the conventional currency. As it offers enhanced transparency, inflation resistance, and divisibility, cryptocurrency is gaining immense popularity across the globe.
The global cryptocurrency market size reached a value of US$ 1,782 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32,420 Billion by 2027, exhibiting at a CAGR of 58.4% during 2022-2027
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The increasing penetration of the high-speed internet, in confluence with the easy accessibility to legalized virtual currencies, represents one of the key factors bolstering the growth of the market. In addition, key players are introducing mobile applications with features, such as two-factor authentications, end-to-end encryption, and online payment solutions. This, along with the rising number of websites offering cryptocurrencies and inflating income levels of individuals, is driving the market. Furthermore, the advent of bitcoin cash and lite is projected to offer lucrative growth opportunities to industry investors.
Top Companies in the Cryptocurrency Market
Advanced Micro Devices Inc.
Alphapoint Corporation
Bitfury Holding B.V.
Coinbase Inc.
Cryptomove Inc.
Intel Corporation
Microsoft Corporation
Quantstamp, Inc.
Key Highlights:
Market Performance (2016-2021)
Market Outlook (2022-2027)
COVID-19 Impact on the Market
Porter’s Five Forces Analysis
Historical, Current and Future Market Trends
Market Drivers and Success Factors
SWOT Analysis
Structure of the Market
Value Chain Analysis
Comprehensive Mapping of the Competitive Landscape
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