Global Digital Currency Market

Global Digital Currency Market by Types (Bitcoin, Cryptocurrency, Bitcoin Cash, Litecoin, Ethereum, and Dogecoin), Processes (Mining and Transaction), Applications (Government and Enterprise), End-users (IT Solution, Fintech, Bank, Consulting, Exchange, and Others), Offering (Hardware, ASIC, GPU, FPGA, Software, and Others), and Regions (Asia Pacific, North America, Europe, Latin America, and Middle East & Africa) Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: BFSI-3140
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 210
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The global digital currency market was valued USD 1.5 billion in 2020 and is estimated to reach USD 2.52 billion by 2028, expanding at a CAGR of 7.1% during the forecast period, between 2021 and 2028. Digital currencies are monetary assets which are available in the digital form. Digital currency is also referred an electronic currency, cyber cash, or electric money. Digital currency transaction takes place using designed software and applications. Rising popularity of digital currencies such as Bitcoin, Ethereum, and Litecoin is expected to drive the market in the near future. Some industries have started using these currencies in their regular transaction. Companies such as Facebook and Tesla are expanding their business using cryptocurrency.

Global Digital Currency Market summary

Market Trends, Drivers, Restraints, and Opportunities:

  • High adoption of digital currency in developed nations is offering easy and flexible transactions as compared to physical currency, thus fuelling the market.
  • Low transaction fee drives the digital currency market.
  • Possibility of loss or leakage of authenticated information is likely to hamper the market.
  • Fast transfer rate, low fees, and smooth and compliance free transactions are projected to drive the market.

Scope of the report:

The report on the global digital currency market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

Digital Currency Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Types (Bitcoin, Cryptocurrency, Bitcoin Cash, Litecoin, Ethereum, and Dogecoin), Processes (Mining and Transaction), Applications (Government and Enterprise), End-users (IT Solution, Fintech, Bank, Consulting, Exchange, and Others), Offering (Hardware, ASIC, GPU, FPGA, Software, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

Ripple, Rubix by Deloitte, Accenture, Distributed Ledger Technologies, NASDAQ, Oracle, AWS, Citi Bank, ELayaway, HSC, Ant Financial, JD Financial, Qihoo 360, and Tencent.

Digital currency Market Segment Insights:

Bitcoin segment to expand at a high CAGR

In the terms of types, the digital currency market is classified as bitcoin, cryptocurrency, bitcoin cash, litecoin, ethereum, and dogecoin. The bitcoin segment held a dominant share of the market in 2020, and this trend is projected to continue in the coming years. Bitcoin is a decentralized digital currency that can be transferred from user to user on the peer-to-peer bitcoin network without the use of middlemen. It does not need any central bank or a single administrator. The popularity of bitcoins is fueled by the rising demand for trade, compliance-free remittance, and convenience of cross-border transactions.

Global Digital Currency Market taxonomy

Mining segment held substantial market share in 2020

Based on processes, the market is segregated into mining and transaction. Mining is a crucial component in the formation, transmission, and confirmation of digital currencies. It guarantees that the currency is propagated from a payment to a recipient in a stable, secure, and safe manner. Unlike fiat currency, which is controlled and regulated by a centralized body, crypto currencies are decentralized and operate on a peer-to-peer basis.

Hardware segment to hold significant market share

On the basis of offerings, the digital currency market is fragmented into hardware, ASIC, GPU, FPGA, software, and others. The concept of bitcoin is predicated on the decentralization of transaction monitoring. Miners (usually users) validate transactions performed by other users as a part of the transaction monitoring process. The system requires processing resources to validate the transactions in this procedure. The validation procedure requires the generation of hash codes to encrypt the transactions. The miner requires extremely effective and efficient hardware to create a hash code.

Bank segment to hold significant market share

On the basis of end-user, the market is categorized as IT solution, fintech, bank, consulting, exchange, and others. The banking segment held a dominant share of the market in 2020 and this trend is estimated to continue in the coming years. Digital currency transfers and other online transactions that transfer money between parties across long distances are common, due to increasing number of banks and other financial service providers. Nowadays, people do not physically go to the banks or carry cash due to the adoption of digital currency.

North America dominates the global market

In terms of regions, the global digital currency market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America constituted a significant share of the market in 2020 due to rising technical developments and growing acceptance of digital currencies by consumers and merchants. North America continues to lead the global digital currency market due to the presence of large companies in the region.

Segments

Segments Covered in the Report
By Types

  • Bitcoin
  • Cryptocurrency
  • Bitcoin Cash
  • Litecoin
  • Ethereum
  • Dogecoin

By Processes

  • Mining
  • Transaction

By Applications

  • Government
  • Enterprise

By End-users

  • IT Solution
  • Fintech
  • Bank
  • Consulting
  • Exchange
  • Others

By Offerings

  • Hardware
  • ASIC
  • GPU
  • FPGA
  • Software
  • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

By Key Players

  • Ripple
  • Rubix by Deloitte
  • Accenture
  • Distributed Ledger Technologies
  • NASDAQ
  • Oracle
  • AWS
  • Citi Bank
  • ELayaway
  • HSC
  • Ant Financial
  • JD Financial
  • Qihoo 360
  • Tencent

 

Competitive Landscape

Key players in the global digital currency market are Ripple, Rubix by Deloitte, Accenture, Distributed Ledger Technologies, NASDAQ, Oracle, AWS, Citi Bank, ELayaway, HSC, Ant Financial, JD Financial, Qihoo 360, and Tencent. Many new players are entering the market, as it holds huge business opportunities.

Global Digital Currency Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Digital Currency Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Digital Currency Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Digital Currency Market - Supply Chain
  4.5. Global Digital Currency Market Forecast
     4.5.1. Digital Currency Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Digital Currency Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Digital Currency Market Absolute $ Opportunity
5. Global Digital Currency Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Digital Currency Market Size and Volume Forecast by Types
     5.3.1. Bitcoin
     5.3.2. Cryptocurrency
     5.3.3. Bitcoin Cash
     5.3.4. Litecoin
     5.3.5. Ethereum
     5.3.6. Dogecoin
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Digital Currency Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Digital Currency Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Digital Currency Demand Share Forecast, 2019-2026
7. North America Digital Currency Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Digital Currency Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Digital Currency Market Size and Volume Forecast by Types
     7.4.1. Bitcoin
     7.4.2. Cryptocurrency
     7.4.3. Bitcoin Cash
     7.4.4. Litecoin
     7.4.5. Ethereum
     7.4.6. Dogecoin
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Digital Currency Demand Share Forecast, 2019-2026
8. Latin America Digital Currency Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Digital Currency Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Digital Currency Market Size and Volume Forecast by Types
     8.4.1. Bitcoin
     8.4.2. Cryptocurrency
     8.4.3. Bitcoin Cash
     8.4.4. Litecoin
     8.4.5. Ethereum
     8.4.6. Dogecoin
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Digital Currency Demand Share Forecast, 2019-2026
9. Europe Digital Currency Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Digital Currency Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Digital Currency Market Size and Volume Forecast by Types
     9.4.1. Bitcoin
     9.4.2. Cryptocurrency
     9.4.3. Bitcoin Cash
     9.4.4. Litecoin
     9.4.5. Ethereum
     9.4.6. Dogecoin
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Digital Currency Demand Share Forecast, 2019-2026
10. Asia Pacific Digital Currency Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Digital Currency Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Digital Currency Market Size and Volume Forecast by Types
     10.4.1. Bitcoin
     10.4.2. Cryptocurrency
     10.4.3. Bitcoin Cash
     10.4.4. Litecoin
     10.4.5. Ethereum
     10.4.6. Dogecoin
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Digital Currency Demand Share Forecast, 2019-2026
11. Middle East & Africa Digital Currency Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Digital Currency Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Digital Currency Market Size and Volume Forecast by Types
     11.4.1. Bitcoin
     11.4.2. Cryptocurrency
     11.4.3. Bitcoin Cash
     11.4.4. Litecoin
     11.4.5. Ethereum
     11.4.6. Dogecoin
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Digital Currency Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Digital Currency Market: Market Share Analysis
  12.2. Digital Currency Distributors and Customers
  12.3. Digital Currency Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Ripple
     12.4.2. Rubix by Deloitte
     12.4.3. Accenture
     12.4.4. Distributed Ledger Technologies
     12.4.5. NASDAQ
     12.4.6. Oracle
     12.4.7. AWS
     12.4.8. Citi Bank
     12.4.9.

Segments Covered in the Report
By Types

  • Bitcoin
  • Cryptocurrency
  • Bitcoin Cash
  • Litecoin
  • Ethereum
  • Dogecoin

By Processes

  • Mining
  • Transaction

By Applications

  • Government
  • Enterprise

By End-users

  • IT Solution
  • Fintech
  • Bank
  • Consulting
  • Exchange
  • Others

By Offerings

  • Hardware
  • ASIC
  • GPU
  • FPGA
  • Software
  • Others

By Regions

  • North America
  • Europe
  • Latin America
  • Asia Pacific
  • Middle East & Africa

By Key Players

  • Ripple
  • Rubix by Deloitte
  • Accenture
  • Distributed Ledger Technologies
  • NASDAQ
  • Oracle
  • AWS
  • Citi Bank
  • ELayaway
  • HSC
  • Ant Financial
  • JD Financial
  • Qihoo 360
  • Tencent

 

Key players in the global digital currency market are Ripple, Rubix by Deloitte, Accenture, Distributed Ledger Technologies, NASDAQ, Oracle, AWS, Citi Bank, ELayaway, HSC, Ant Financial, JD Financial, Qihoo 360, and Tencent. Many new players are entering the market, as it holds huge business opportunities.

Global Digital Currency Market keyplayers

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