Cryptocurrency Market by Offering (Hardware: GPU, FPGA, ASIC, Storage & Wallet; and Software), Process (Mining and Transaction), Type, End User (Peer–to-Peer Payment, Remittance, E-Commerce, and Retail), and Geography - Global Forecast to 2023

  • ID: 4411240
  • Report
  • Region: Global
  • 166 Pages
  • Markets and Markets
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The Cryptocurrency Market Was Valued at USD 541.0 Million in 2017 And is Expected to Reach USD 2,902.0 Million By 2023, at a CAGR of 32.31% Between 2017 And 2023

FEATURED COMPANIES

  • 21 Inc.
  • Alphapoint Corporation
  • Bitfury Group
  • Coinbase
  • Microsoft
  • Ripple Labs
  • MORE

“Cryptocurrency market is expected to grow at a CAGR of 32.31% between 2017 and 2023”

The growing remittance in developing countries, high cost of remittance across the border, and fluctuating monetary regulations are the major drivers for the growth of the cryptocurrency market. The growth of the cryptocurrency market is further propelled by the transparency and immutability of the distributed ledger technology and benefits such as faster transaction and reduction in total ownership cost. However, the uncertain regulations and standards pertaining to cryptocurrency restrain the growth of this market.

“Cryptocurrency mining held the largest market share in 2016”

Mining is an integral process for the generation, transmission, and validation of transactions in cryptocurrencies. Whenever a transaction takes place and is validated, miners collect these transactions and include them into the block they are currently solving. Every block has to be solved before being broadcast and added to the blockchain. The solving of a block involves the use of hardware to solve mathematical puzzles that are difficult to crack.

“Market for Ethereum is expected to grow at the highest rate between 2017 and 2023”

The Ethereum blockchain focuses on running the programming code of any decentralized application, including Distributed Applications (DApps) and smart contracts, enabling it to be built and run without any downtime, fraud, control, or interference from a third party. The advantages offered by Ethereum over bitcoin, such as electronic cash, smart contract technology, and proof-of-stake, are expected to drive the growth of the market for Ethereum.

“Cryptocurrency market in APAC is expected to grow at the highest rate between 2017 and 2023”

Because of the low cost of electricity, suitable climate (especially in Northern China), presence of big electronics manufacturing units, and availability of venture capital funding, the market in China is expected to grow at the highest rate during the forecast period. Besides, Japan has the highest level of awareness and knowledge of cryptocurrency. The government regulations in Japan are also favorable for cryptocurrency transactions. All these factors would help drive the growth of the market in APAC at the highest CAGR during the forecast period.

In the process of determining and verifying the market size for several segments and subsegments gathered through the secondary research, extensive primary interviews have been conducted with people holding key positions across several regions.

The breakup of the profile of primary participants has been given below.

  • By Company Type: Tier 1-40%, Tier 2-20%, and Tier 3-40%
  • By Designation: C-Level Executives-40%, Directors-40%, and Others (Sales, Marketing, and Product Managers)-20%
  • By Region: North America-40%, Europe-40%, APAC-10%, and RoW-10%

The companies covered in the cryptocurrency market are Intel Corporation (US), NVIDIA Corporation (US), Microsoft Corporation (US), Xilinx, Inc. (US), Advanced Micro Devices, Inc. (US), AlphaPoint Corporation (US), Amazon.com, Inc.  (US), BitGo,  (US), BTL Group Ltd.(Blockchain Tech) (Canada), BitFury Group (US), Coinbase UK, Ltd. (US), 21 Inc. (US), and Ripple Labs Inc. (US).

Research Coverage

The cryptocurrency market has been segmented on the basis of offering, process, type, end user, and region. The market has been segmented on the basis of offering into hardware and software. On the basis of process, the market has been segmented into mining and transaction. On the basis of type, the market is segmented into Bitcoin, Ethereum, Ripple (XRP), Litecoin, Dashcoin, and others. The market has been segmented on the basis of end user into peer-to-peer payment, remittance, e-commerce and retail, media and entertainment, and others.

Reasons to Buy the Report:

The report would help the market leaders/new entrants in this market in the following ways:

1. This report segments the cryptocurrency market comprehensively and provides the closest approximations of the size of the overall market and its subsegments for various applications and across different regions.

2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities pertaining to the market.

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FEATURED COMPANIES

  • 21 Inc.
  • Alphapoint Corporation
  • Bitfury Group
  • Coinbase
  • Microsoft
  • Ripple Labs
  • MORE

1 Introduction
1.1 Objectives of the Study
1.2 Definition
1.3 Scope of the Study
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary And Primary Research
2.1.1.1 Key Industry Insights
2.1.2 Secondary Data
2.1.2.1 Secondary Sources
2.1.3 Primary Data
2.1.3.1 Breakdown of Primaries
2.1.3.2 Primary Sources
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Market Breakdown And Data Triangulation
2.4 Research Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Market Opportunities in the Global Cryptocurrency Market
4.2 Cryptocurrency Market, By Offering
4.3 Cryptocurrency Market, By Hardware
4.4 Cryptocurrency Market in Apac, By End-User And Country
4.5 Cryptocurrency Market, By Geography, 2016

5 Market Overview
5.1 Introduction
5.1.1 Drivers
5.1.1.1 Transparency And Immutability of the Distributed Ledger Technology
5.1.1.2 Growing Remittance in Developing Countries
5.1.1.3 High Cost of Remittance Across the Border
5.1.1.4 Fluctuating Monetary Regulations
5.1.1.5 Significant Increase in Venture Capital Investments
5.1.2 Restraints
5.1.2.1 Uncertain Regulatory Status
5.1.2.2 Lack of Awareness And Technical Understanding Regarding Cryptocurrency
5.1.3 Opportunities
5.1.3.1 Significant Growth Opportunities in Emerging And Developed Markets
5.1.3.2 Acceptance of Cryptocurrency Across Various Industries
5.1.4 Challenges
5.1.4.1 Concern Regarding Security, Privacy, And Control
5.1.4.2 Technical Challenges Pertaining to Scalability

6 Industry Trends
6.1 Introduction
6.2 Value Chain Analysis of the Cryptocurrency Market
6.3 Key Trends in Cryptocurrency Market
6.3.1 Ransomware Case Study
6.3.1.1 Technology Behind Ransomware
6.3.1.2 Encryption
6.3.1.3 Advent of Cryptocurrencies
6.3.1.4 Flaws in Ransomware
6.3.1.5 Impact of Ransomware Attack
6.3.2 Initial Coin Offering (Ico)
6.3.3 Cryptography in Cryptocurrency
6.3.4 Cryptocurrency Prices (In USD)
6.3.5 Funding
6.3.6 Split in Cryptocurrencies to Combat High Transaction Fees And Currency Size Limit

7 Cryptocurrency Market, By Offering
7.1 Introduction
7.2 Hardware
7.2.1 Fpga
7.2.2 Gpu
7.2.3 Asic
7.2.4 Wallet
7.2.5 Storage
7.3 Software
7.3.1 Mining Platform
7.3.2 Blockchain
7.3.3 Coin Wallet
7.3.4 Exchange

8 Cryptocurrency Market, By Process
8.1 Introduction
8.2 Mining
8.2.1 Solo Mining
8.2.2 Pool Mining
8.2.3 Cloud Mining
8.3 Transaction

9 Cryptocurrency Market, By Type
9.1 Introduction
9.2 Bitcoin
9.3 Ethereum (Eth)
9.4 Ripple (Xrp)
9.5 Dashcoin
9.6 Litecoin (Ltc)
9.7 Others

10 Cryptocurrency Market, By End User
10.1 Introduction
10.2 Peer-To-Peer Payment
10.3 Remittance
10.4 E-Commerce And Retail
10.5 Media And Entertainment
10.6 Others

11 Geographic Analysis
11.1 Introduction
11.2 North America
11.2.1 Us
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 France
11.3.3 Uk
11.3.4 East Europe
11.3.5 Rest of Europe
11.4 Apac
11.4.1 China
11.4.2 Japan
11.4.3 South Korea
11.4.4 India
11.4.5 Rest of Apac
11.5 Rest of the World
11.5.1 South America
11.5.2 Middle East And Africa

12 Competitive Landscape
12.1 Introduction
12.2 Market Ranking Analysis, 2016

13 Company Profiles
(Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, Mnm View)*
13.1 Nvidia
13.2 Xilinx
13.3 Intel
13.4 Advanced Micro Devices
13.5 Bitfury Group
13.6 Ripple Labs
13.7 Microsoft
13.8 Alphapoint Corporation
13.9 Amazon.Com
13.10 Bitgo
13.11 Btl Group (Blockchain Tech)
13.12 Coinbase
13.13 21 Inc.
*Details On Business Overview, Products Offered & Services Strategies, Key Insights, Recent Developments, Mnm View Might Not Be Captured in Case of Unlisted Companies.

14 Appendix
14.1 Insights from Industry Experts
14.2 Discussion Guide
14.3 Knowledge Store: Subscription Portal
14.4 Introducing Rt: Real-Time Market Intelligence
14.5 Available Customizations
14.6 Related Reports
14.7 Author Details

List of Tables
Table 1 List of Major Secondary Sources
Table 2 Cryptocurrency Price, 2013-2017 (USD)
Table 3 Funding in the Cryptocurrency Market, 2014-2017 (USD Million)
Table 4 Cryptocurrency Market, By Offering, 2014-2023 (USD Million)
Table 5 Cryptocurrency Asic Hardware
Table 6 Cryptocurrency Market, By Hardware, 2014-2023 (USD Million)
Table 7 Cryptocurrency Market for Hardware, By Region, 2014-2023 (USD Million)
Table 8 Cryptocurrency Market for Hardware, By Process, 2014-2023 (USD Million)
Table 9 Cryptocurrency Market, By Software, 2014-2023 (USD Million)
Table 10 Cryptocurrency Market for Software, By Region, 2014-2023 (USD Million)
Table 11 Cryptocurrency Market for Software, By Process, 2014-2023 (USD Million)
Table 12 Scenario 1: Cryptocurrency Market, By Process, 2014-2023 (USD Million)
Table 13 Scenario 2: Cryptocurrency Market, By Process, 2014-2023 (USD Million)
Table 14 Cryptocurrency Market for Mining, By Mining Process, 2014-2023 (USD Million)
Table 15 Cryptocurrency Market for Mining, By Offering, 2014-2023 (USD Million)
Table 16 Scenario 1: Cryptocurrency Market for Mining, By Region, 2014-2023 (USD Million)
Table 17 Scenario 2: Cryptocurrency Market for Mining, By Region, 2014-2023 (USD Million)
Table 18 Scenario 1: Cryptocurrency Market for Mining in Apac, By Country, 2014-2023 (USD Million)
Table 19 Scenario 2: Cryptocurrency Market for Mining in Apac, By Country, 2014-2023 (USD Million)
Table 20 Cryptocurrency Market for Mining in North America, By Country, 2014-2023 (USD Million)
Table 21 Cryptocurrency Market for Mining in Europe, By Country, 2014-2023 (USD Million)
Table 22 Cryptocurrency Market for Mining in Row, By Region, 2014-2023 (USD Million)
Table 23 Cryptocurrency Market for Transaction, By Offering, 2014-2023 (USD Million)
Table 24 Scenario 1: Cryptocurrency Market for Transaction, By Region, 2014-2023 (USD Million)
Table 25 Scenario 2: Cryptocurrency Market for Transaction, By Region, 2014-2023 (USD Million)
Table 26 Scenario 1: Cryptocurrency Market for Transaction in Apac, By Country, 2014-2023 (USD Million)
Table 27 Scenario 2: Cryptocurrency Market for Transaction in Apac, By Country, 2014-2023 (USD Million)
Table 28 Cryptocurrency Market for Transaction in North America, By Country, 2014-2023 (USD Million)
Table 29 Cryptocurrency Market for Transaction in Europe, By Country, 2014-2023 (USD Million)
Table 30 Cryptocurrency Market for Transaction in Row, By Region, 2014-2023 (USD Million)
Table 31 Market Capitalization of Various Cryptocurrencies Between2014 And 2017, (USD Billion)
Table 32 Average Daily Number of Transactions for Various Cryptocurrencies Between 2016 And 2017
Table 33 Cryptocurrency Market, By Type , 2014-2023 (USD Million)
Table 34 Cryptocurrency Market, By End User, 2014-2023 (USD Million)
Table 35 Cryptocurrency Market for Peer-To-Peer Payment, By Region, 2014-2023 (USD Million)
Table 36 Cryptocurrency Market for Remittance, By Region, 2014-2023 (USD Million)
Table 37 Cryptocurrency Market for E-Commerce And Retail, By Region, 2014-2023 (USD Million)
Table 38 Cryptocurrency Market for Media And Entertainment, By Region, 2014-2023 (USD Million)
Table 39 Cryptocurrency Market for Other End Users, By Region, 2014-2023 (USD Million)
Table 40 Scenario 1: Cryptocurrency Market, By Region,2014-2023 (USD Million)
Table 41 Scenario 2: Cryptocurrency Market, By Region, 2014-2023 (USD Million)
Table 42 Cryptocurrency Market in North America, By Country, 2014-2023 (USD Million)
Table 43 Cryptocurrency Market in North America, By Process, 2014-2023 (USD Million)
Table 44 Cryptocurrency Market in North America, By End User, 2014-2023 (USD Million)
Table 45 Cryptocurrency Market in Us, By Process, 2014-2023 (USD Million)
Table 46 Cryptocurrency Market in Canada, By Process, 2014-2023 (USD Million)
Table 47 Cryptocurrency Market in Mexico, By Process, 2014-2023 (USD Million)
Table 48 Cryptocurrency Market in Europe, By Country, 2014-2023 (USD Million)
Table 49 Cryptocurrency Market in Europe, By Process, 2014-2023 (USD Million)
Table 50 Cryptocurrency Market in Europe, By End User, 2014-2023 (USD Million)
Table 51 Cryptocurrency Market in Germany, By Process, 2014-2023 (USD Million)
Table 52 Cryptocurrency Market in France, By Process, 2014-2023 (USD Million)
Table 53 Cryptocurrency Market in Uk, By Process, 2014-2023 (USD Million)
Table 54 Cryptocurrency Market in East Europe, By Process, 2014-2023 (USD Million)
Table 55 Cryptocurrency Market in Rest of Europe, By Process, 2014-2023 (USD Million)
Table 56 Scenario 1: Cryptocurrency Market in Apac, By Country, 2014-2023 (USD Million)
Table 57 Scenario 2: Cryptocurrency Market in Apac, By Country, 2014-2023 (USD Million)
Table 58 Cryptocurrency Market in Apac, By Process, 2014-2023 (USD Million)
Table 59 Cryptocurrency Market in Apac, By End User, 2014-2023 (USD Million)
Table 60 Scenario 1: Cryptocurrency Market in China, By Process, 2014-2023 (USD Million)
Table 61 Scenario 2: Cryptocurrency Market in China, By Process, 2014-2023 (USD Million)
Table 62 Cryptocurrency Market in Japan, By Process, 2014-2023 (USD Million)
Table 63 Cryptocurrency Market in South Korea, By Process, 2014-2023 (USD Million)
Table 64 Cryptocurrency Market in India, By Process, 2014-2023 (USD Million)
Table 65 Cryptocurrency Market in Rest of Apac, By Process, 2014-2023 (USD Million)
Table 66 Cryptocurrency Market in Row, By Region, 2014-2023 (USD Million)
Table 67 Cryptocurrency Market in Row, By Process, 2014-2023 (USD Million)
Table 68 Cryptocurrency Market in Row, By End User, 2014-2023 (USD Million)
Table 69 Cryptocurrency Market in South America, By Process, 2014-2023 (USD Million)
Table 70 Cryptocurrency Market in Mea, By Process, 2014-2023 (USD Million)
Table 71 Top 5 Players in the Cryptocurrency Market, 2016

List of Figures
Figure 1 Market Segmentation
Figure 2 Research Design
Figure 3 Process Flow of Market Size Estimation
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Data Triangulation
Figure 7 Cryptocurrency Market, By Offering, 2016 & 2023
Figure 8 Cryptocurrency Market, By Process, 2016 & 2023
Figure 9 Cryptocurrency Market, By Type, 2016
Figure 10 Cryptocurrency Market, By End-User, 2016 & 2023
Figure 11 Cryptocurrency Market, By Region, 2016
Figure 12 Cryptocurrency Market Expected to Grow at a High CAGR Between 2017 And 2023
Figure 13 Hardware to Grow at Highest Rate in the Cryptocurrency Market During the Forecast Period
Figure 14 Gpu Expected to Hold the Largest Share of the Cryptocurrency Market During the Forecast Period
Figure 15 Peer-To-Peer Payment Expected to Hold the Largest Share of the Apac Cryptocurrency Market in 2017
Figure 16 Asia Pacific Expected to Witness the Highest CAGR in the Cryptocurrency Market Between 2017 And 2023
Figure 17 Cryptocurrency Market: Drivers, Restraints, Opportunities, And Challenges
Figure 18 Global Remittance Flows, 2010-2016
Figure 19 Global Fees for Remittance Transaction in 2015
Figure 20 Value Chain Analysis of Cryptocurrency, 2016
Figure 21 Hardware to Hold a Larger Share of the Cryptocurrency Market During the Forecast Period
Figure 22 Gpu to Hold the Largest Share of the Cryptocurrency Hardware Market By 2023
Figure 23 Mining Expected to Grow at a Higher CAGR in the Cryptocurrency Hardware Market During 2017-2023
Figure 24 Apac to Hold the Largest Share of the Cryptocurrency Software Market By 2023
Figure 25 Scenario 1:Mining to Hold a Larger Share of the Cryptocurrency Market During the Forecast Period
Figure 26 Pool Mining Expected to Register the Highest CAGR in the Cryptocurrency Market (2017-2023)
Figure 27 Scenario 1: Apac to Dominate the Market in Mining During the Forecast Period
Figure 28 Germany to Hold the Largest Share of the Hardware Market for the Mining Process in Europe By 2023
Figure 29 Scenario 1: China to Hold the Largest Share of the Market for Transactional Process in Apac During the Forecast Period
Figure 30 Germany to Hold the Largest Share of the Market for Transactional Process in Europe During the Forecast Period
Figure 31 South America to Hold a Larger Share of the Market for Software for Transaction Process in Row During the Forecast Period
Figure 32 Market Capitalization of Various Coins Between 2014 And 2017
Figure 33 Ethereum Coin Expected to Register the Highest CAGR During the Forecast Period
Figure 34 Peer-To-Peer Payment to Hold the Largest Share of the Cryptocurrency Market During the Forecast Period
Figure 35 Apac to Hold the Largest Share of the Cryptocurrency Market for Remittance During the Forecast Period
Figure 36 Apac to Hold the Largest Share of the Cryptocurrency Market for Media And Entertainment During the Forecast Period
Figure 37 North America: Cryptocurrency Market Snapshot
Figure 38 Mining Expected to Lead the Cryptocurrency Market in Us During the Forecast Period
Figure 39 Europe: Cryptocurrency Market Snapshot
Figure 40 Germany Expected to Dominate the Cryptocurrency Market in Europe By 2023
Figure 41 Mining to Lead the Cryptocurrency Market in the Uk During the Forecast Period
Figure 42 Apac: Cryptocurrency Market Snapshot
Figure 43 Scenario 1: Transaction Market is Likely to Be Zero By 2023 in China
Figure 44 South America to Lead the Cryptocurrency Market in the Row During the Forecast Period
Figure 45 Nvidia: Company Snapshot (2016)
Figure 46 Xilinx: Company Snapshot (2016)
Figure 47 Intel: Company Snapshot (2016)
Figure 48 Advanced Micro Devices: Company Snapshot (2016)
Figure 49 Microsoft: Company Snapshot (2016)
Figure 50 Amazon : Company Snapshot (2016)

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  • 21 Inc.
  • Advanced Micro Devices
  • Alphapoint Corporation
  • Amazon.Com
  • Bitfury Group
  • Bitgo
  • BTL Group (Blockchain Tech)
  • Coinbase
  • Intel
  • Microsoft
  • Nvidia
  • Ripple Labs
  • Xilinx
Note: Product cover images may vary from those shown
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