The ‘global cryptocurrency market with the impact of COVID-19 by offer (hardware, software), process (mining, transaction), type, application (negotiation, delivery, payment: peer-to-peer payment, e-commerce and retail), and Geography – Forecast to 2026 report “has been added to ResearchAndMarkets.com from offer.
The global cryptocurrency market is expected to grow from $ 1.6 billion in 2021 to $ 2.2 billion by 2026, with a CAGR of 7.1%
The transparency or distributed ledger technology and the growth of venture capital investments are the key factors in the growth of the cryptocurrency market.
Hardware to hold largest cryptocurrency market size in 2021
The concept of cryptocurrency is based on the decentralization of transaction monitoring. In the process of transaction monitoring, miners (usually users) validate transactions made by other users. In this process, the system needs high computing power to validate the transactions. The validation process involves creating hash codes to encrypt transactions.
To generate a hash code, the miner needs highly efficient and effective hardware. In other words, to get new blocks and solve them, miners need to generate as many hash codes as possible. Miners get rewards through mining. Mining rigs come in many shapes and sizes. The hardware cryptocurrency market has been segmented, on the basis of processor, into GPUs, Central Processing Units (CPUs), FPGAs, and ASICs.
The mining process will hold the largest share of the cryptocurrency market in 2021
Mining is an integral process for the generation, transmission and validation of cryptocurrency transactions. It ensures stable, safe and secure propagation of currency from a payer to a receiver. Unlike fiat money, where a centralized authority controls and regulates transactions, cryptocurrencies are decentralized and operate on a peer-to-peer system.
APAC will grow at the highest CAGR during the forecast period
In terms of value, APAC will increase at the highest CAGR during the forecast period. This APAC market has been studied for China, Japan, South Korea and the rest of APAC (RoAPAC). RoAPAC includes Singapore, Malaysia, Thailand, India, Australia, and New Zealand. China is the biggest market among all APAC countries. Due to the low cost of electricity and the presence of large mining companies.
The big companies that dominate the cryptocurrency market are
Bitmain (China), NVIDIA (US), Xilinx (US), Intel (US), Advanced Micro Devices (US), Ripple Labs (US), Ethereum Foundation (Switzerland), Bitfury Group (Netherlands), Coinbase (United States), BitGo (United States), Binance Holdings (China) Canaan Creative (China). Bitstamp (Luxembourg), Ifinex (Hong Kong), Ledger SAS (France), Xapo (Hong Kong) and Alcheminer (United States)
Main topics covered:
2 Research methodology
3 Executive summary
4 premium information
4.1 Attractive Opportunities in the Cryptocurrency Market: APAC to Dominate the Cryptocurrency Market during the Forecast Period
4.2 Cryptocurrency for Payment Market, By Type: Peer-to-peer payment to dominate the cryptocurrency market during the forecast period
4.3 Mining Cryptocurrency Market, By Type: The Pool Mining Cryptocurrency Market will have the highest market share in 2026
4.4 US Trading and Segments to Hold Largest North America Cryptocurrency Market Share in 2021
4.5 South America Cryptocurrency Market To Grow At Highest CAGR From 2021-2026
5 Market overview
5.2 Market dynamics
126.96.36.199 Transparency of distributed ledger technology
188.8.131.52 Large remittances to developing countries
184.108.40.206 High fees for cross-border remittances
220.127.116.11 Growth in venture capital investments
18.104.22.168 Uncertain regulatory status
22.214.171.124 Lack of knowledge and technical understanding of cryptocurrencies
126.96.36.199 Significant growth opportunities in emerging and developed markets
188.8.131.52 Growing acceptance of cryptocurrency in various industries
184.108.40.206 Concerns about security, confidentiality and control
220.127.116.11 Technical challenges related to scalability
18.104.22.168 Lack of legislation
5.3 Analysis of the value chain of the cryptocurrency market
6 industry trends
6.1 Case study
6.1.1 Ransomware case study
22.214.171.124 Technology behind ransomware
126.96.36.199 The advent of cryptocurrencies
188.8.131.52 Impact of the ransomware attack
184.108.40.206 Ransomware refusal
6.2 Technological trends
6.2.1 Rise of cryptocurrency mining malware
6.2.2 Initial coin offering (ICO)
6.2.3 Cryptography in cryptocurrency
6.3 Price of cryptocurrencies (in USD)
6.3.1 Hardfork in cryptocurrencies
6.4 Cryptocurrency regulations
6.5 Patent analysis
6.6 Porter’s five forces model
6.7 Cryptocurrency Trading Volume
6.8 Cryptocurrency Ecosystem / Market Mapping
6.8.1 Impact of COVID-19
Bitmain Technologies Ltd.
Advanced Micro Devices, Inc.
Bitfury Group Limited
The other companies
For more information on this report, visit https://www.researchandmarkets.com/r/8x8td0
See the source version on businesswire.com: https://www.businesswire.com/news/home/20210504005957/en/
Laura Wood, Senior Press Officer
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