News Feed Item

Cryptocurrency Market to Grow at 32.31% CAGR to 2023

PUNE, India, October 13, 2017 /PRNewswire/ --

The cryptocurrency market size is expected to reach $2,902.0 million by 2023 from $541.0 million in 2017 at a CAGR of 32.31% between (2017-2023) propelled by the benefits of compliance-free peer-to-peer transaction, cross-border remittance transfer, increase in use cases, volatility in the stock market, fluctuating monetary regulations in different countries, transparency and immutability of the distributed ledger technology and benefits such as faster transaction and reduction in total ownership cost according to RnRMarketResearch.

Browse 71 Market Data Tables and 50 Figures spread through 164 Pages and in-depth TOC on "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" http://www.rnrmarketresearch.com/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-geogr-st-to-2023-market-report.html .

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), Alpha Point Corporation (US), Amazon.com, Inc.  (US), Bit Go,  (US), BTL Group Ltd. (Block chain Tech) (Canada), Bit Fury Group(US), Coin base UK, Ltd. (US), 21 Inc. (US), and Ripple Labs Inc. (US).

The 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.

Make an Inquiry on Cryptocurrency Market Global Forecast to 2023 research report at http://www.rnrmarketresearch.com/contacts/inquire-before-buying?rname=1219290 .

The cryptocurrency market for Ethereum is expected to grow at the highest rate between 2017 and 2023. The Ethereum block chain 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 bit coin, such as electronic cash, smart contract technology, and proof-of-stake, are expected to drive the growth of the market for Ethereum.

The 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 block chain. The solving of a block involves the use of hardware to solve mathematical puzzles that are difficult to crack.

Inquire for Discount on "Cryptocurrency Market Global Forecast to 2023" research report at http://www.rnrmarketresearch.com/contacts/discount?rname=1219290 .

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 cryptocurrency market has been segmented on the basis of offering, process, type, enduser, 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 Bit coin, Ethereum, Ripple (XRP), Lite coin, Dash coin, 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.

Another research titled Blockchain Market Global Forecast to 2021 says, the global Blockchain market to grow from $210.2 million in 2016 to $2,312.5 million by 2021, at a CAGR of 61.5%. Infrastructure and protocols provider segment to have the largest market size in 2016. Media and entertainment vertical to have the highest growth rate during the forecast period. Asia-Pacific (APAC) is expected to have the highest growth rate during the forecast period. Companies such as Microsoft Corporation (U.S.), IBM Corporation (U.S.), Deloitte (U.S.), Ripple (U.S.), Chain, Inc. (U.S.), Abra, Inc. (U.S.), BitFury (U.S.), Coinbase (U.S.), Circle Internet Financial Limited (U.S.), Digital Asset Holdings (U.S.), Blockchain Tech Ltd (Canada), Global Arena Holding, Inc. (U.S.), Digital CC Ltd (Australia), 21 Inc. (U.S.), Earthport (U.K.) have been profiled in this 153 pages research report available at  http://www.rnrmarketresearch.com/blockchain-technology-market-by-provider-application-payments-exchanges-smart-contracts-documentation-digital-identity-clearing-and-settlement-organization-size-vertical-and-region-global-forecast-to-2021-market-report.html .

Explore more reports on Electronics Market at http://www.rnrmarketresearch.com/reports/information-technology-telecommunication/electronics .

About Us:   

RnRMarketResearch.com is your single source for all market research needs. Our database includes 500,000+ market research reports from over 100+ leading global publishers & in-depth market research studies of over 5000 micro markets. With comprehensive information about the publishers and the industries for which they publish market research reports, we help you in your purchase decision by mapping your information needs with our huge collection of reports.

Hrishikesh Patwardhan
2nd Floor, Metropole Building,
Next to Inox Theatre,
Bund Garden Road, Pune - 411001.
Maharashtra, India.
[email protected]

Connect with Us:  

G+ / Google Plus: https://plus.google.com/104156468549256253075/posts

Twitter: https://twitter.com/RnRMR

Facebook: https://www.facebook.com/pages/RnR-Market-Research/413488545356345

RSS / Feeds: http://www.rnrmarketresearch.com/feed

SOURCE RnRMarketResearch

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
The IoT Will Grow: In what might be the most obvious prediction of the decade, the IoT will continue to expand next year, with more and more devices coming online every single day. What isn’t so obvious about this prediction: where that growth will occur. The retail, healthcare, and industrial/supply chain industries will likely see the greatest growth. Forrester Research has predicted the IoT will become “the backbone” of customer value as it continues to grow. It is no surprise that retail is ...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...