| Source: Research and Markets
Dublin, IRELAND
Dublin, Oct. 25, 2022 (GLOBE NEWSWIRE) — The “Cryptocurrency Market Size, Share & Trend Analysis Report by Component, by Hardware, by Software, by Process (Mining, Transaction), by Type, by End-use, by Region, and Segment Forecasts, 2022-2030” report has been added to ResearchAndMarkets.com’s offering.
The global cryptocurrency market size is expected to reach USD 11.71 billion by 2030, registering a CAGR of 12.2% from 2022 to 2030. The market growth is anticipated to be fueled by the increasing demand for better data security, operational transparency, and the incorporation of blockchain technology in digital payment systems. Additionally, the legalization of the purchase, sale, and trading of digital currencies in several developed countries, such as the U.S., is fostering industry expansion.
The cryptocurrency industry is anticipated to grow owing to the rising global popularity of digital currencies such as bitcoin, Ethereum, and Litecoin. This growing popularity can be credited to the capacity of cryptocurrencies to provide quick, transparent, safe, and effective payment to users. As stated by Crypto.com, there were 295 million crypto owners in December 2021 as compared to 228 million in July 2021.
The market for cryptocurrencies is anticipated to be positively impacted by the recent advancements in artificial intelligence. Numerous businesses have been motivated to concentrate on their development as a result of the increased popularity of AI-based cryptocurrency platforms. For instance, in August 2021, Los Alamos National Laboratory researchers reported that they had created an artificial intelligence algorithm to recognize unauthorized cryptocurrency miners who utilize research computers for cryptocurrency mining.
The COVID-19 pandemic adversely impacted market growth in 2020, while 2021 saw a steady uptick. The sales of cryptocurrency mining hardware were slowed down by the global supply chain slowness caused by the border closures in 2020, which restrained the market’s expansion. Moreover, owing to the COVID-19 consequences blockchain companies were compelled to reduce their staffing levels and budgets in 2020. For instance, Cipher Trace decreased its advertising and market department jobs, and Elliptic lay off employees in the U.S. as well as the U.K.
Cryptocurrency Market Report Highlights
Market Dynamics
Market Drivers
Market Challenges
Market Opportunities
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
Chapter 3 Cryptocurrency Industry Outlook
Chapter 4 Cryptocurrency Component Outlook
Chapter 5 Cryptocurrency Process Outlook
Chapter 6 Cryptocurrency Type Outlook
Chapter 7 Cryptocurrency End-use Outlook
Chapter 8 Cryptocurrency Regional Outlook
Chapter 9 Competitive Analysis
Chapter 10 Competitive Landscape
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/29dart
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