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Press Release-Cryptocurrency Market to Reach Valuation of USD 2,302.5 Million by 2028 - Growing Awareness among Individuals Pertaining to Cryptocurrency to Bloom Market

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Cryptocurrency Market to Reach Valuation of USD 2,302.5 Million by 2028 - Growing Awareness among Individuals Pertaining to Cryptocurrency to Bloom Market

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In terms of revenue, the Global Cryptocurrency Market is expected to reach USD 2,302.5 Million by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.9% from 2022 to 2028. The Global Cryptocurrency Market rise can be attributed to the increasing number of people who are using cryptocurrencies to make payments. In addition, the government of Japan has announced that they would be regulating Cryptocurrency Market exchanges in order to prevent money laundering and other illegal activities.

Key Highlights from the Report:

  • The software segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR) in the forecast period. The market growth is attributed as it helps to handle the vast volume of data generated.

  • The mining segment holds a significant market share in 2022. The market growth is attributed to factors such as it ensures that the currency is transmitted in a consistent, secure, and responsible manner from a payment to a recipient and is decentralized and peer-to-peer.

  • North America is the largest regional segment accounting for 41.3% in 2021. China and Japan are the largest consumers of Cryptocurrency Market in the region. Thus, the presence of such countries in the region is further propelling the market growth in the region over the forecast period.

Some of key players in the Cryptocurrency Market include - [object Object].

Market Dynamics:

The hardware segment has grabbed a significant growth in the Cryptocurrency Market due to rising demand for updated software and to improve the efficiency of financial payment solutions. The software category is expected to grow at the quickest rate during the Cryptocurrency Market forecast period, as it aids in the handling of the massive amount of data generated.

Mining is an important part of the process of creating, transmitting, and authenticating Cryptocurrency Market transactions. It ensures that the currency is transmitted in a consistent, secure, and responsible manner from a payment to a recipient. Unlike traditional currencies, which are governed and regulated by a centralized body, cryptocurrencies are decentralized and peer-to-peer.

North America has been the largest market for Cryptocurrency Market since its inception in 2018. In 2017 alone, over $850 billion was invested into crypto-assets in the United States and Canada. However, this figure includes both institutional investors and retail consumers. This suggests that there may still be room for growth in the US, despite declining interest from traditional financial institutions. Thus, the presence of such countries in the region is further propelling the market growth in the region over the forecast period.

About Vantage Market Research:

We, at Vantage Market Research, provide quantified B2B high quality research on more than 20,000 emerging markets, in turn, helping our clients map out constellation of opportunities for their businesses. We, as a competitive intelligence market research and consulting firm provide end to end solutions to our client enterprises to meet their crucial business objectives. Our clientele base spans across 70% of Global Fortune 500 companies. The company provides high quality data and market research services. The company serves various enterprises and clients in a wide variety of industries. The company offers detailed reports on multiple industries including Chemical Materials and Energy, Food and Beverages, Healthcare Technology, etc. The company’s experienced team of Analysts, Researchers, and Consultants use proprietary data sources and numerous statistical tools and techniques to gather and analyse information.

11 Apr 2022

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Cryptocurrency Market to Reach Valuation of USD 2,302.5 Million by 2028 - Growing Awareness among Individuals Pertaining to Cryptocurrency to Bloom Market

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Cryptocurrency Market to Reach Valuation of USD 2,302.5 Million by 2028 - Growing Awareness among Individuals Pertaining to Cryptocurrency to Bloom Market