Pune, India -- (SBWIRE) -- 11/12/2020 -- The global cryptocurrency market to gain from increasing Internet penetration worldwide. Recently Fortune Business Insights has announced a report titled, "Cryptocurrency" Market Size, Share and Global Trend by Component (Software, Services), Process (Transaction, Mining), Type (Bitcoin, Etherum, Litecoin, Ripple, Dashcoin), End User, and Geography Forecast till 2026." As per the report North America was leading the global cryptocurrency market in 2017. The growth witnessed is attributable to high adoption of digital currency in the region. The trend is unlikely to change and North America may lead the global cryptocurrency market through the forecast period.

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The rising demand for online financial services in the region is likely to contribute the growth of the market in North America. Besides this, North America holds 27% participants, 39% of wallets, 18% transactions, and 19% of cryptocurrency paymen companies. This is a primary reason behind the high demand witnessed in the region. It also facilitates the higher adoption of cryptocurrency. The cryptocurrency market in Asia pacific is anticipated to expand at a relatively higher CAGR. The growth witnessed is attributable to increasing number of cryptocurrency transactions taking place in the region. Japan is known for major investments in cryptocurrency. Rising investments cryptocurrency have resulted in the formation of new laws for legalization of cryptocurrency under financial service agency. This is a major step taken by Japan and is expected to boost the Asia Pacific cryptocurrency market.

Market Landscape and Market Scenario Includes:

Current market size estimate
Revenues by players Top Companies
Market size by product categories
Market size by regions/country
Europe is also amongst the leading regions in the global cryptocurrency market. The growth witnessed is attributable to high adoption of e-financial services in the region. Moreover, Germany issued a statement to consider cryptocurrency as private currency without any payable taxes, unless held for a year or more. Tax and other benefits from cryptocurrency is expected to fuel the demand for cryptocurrency and increase the number of owners globally.

Key Market Driver –

Quick international transfers
Secure and Untapped Payments
Key Market Restraint –

Lack in technical understanding and Stringent government regulation
For more information in the analysis of this report, visit: https://www.fortunebusinessinsights.com/industry-reports/Cryptocurrency-market-100149

Adoption of e-wallets to Drive Market

"Government initiated awareness programs regarding cryptocurrency in developing and undeveloped nations are anticipated to enable growth in the global cryptocurrency market," said a lead analyst at Fortune Business Insights.

Some of the chief factors expected to drive the global cryptocurrency market during the forecast period 2018-2026 are rising adoption of e-wallets and consumer shift towards online platforms. Additionally, cashback, promotional, and other offers on e-currency is a factor anticipated to fuel the demand in the global market.

On the contrary, requirement of a good network connection and high cost data tariff plans are a few factors that may hamper the growth in the global cryptocurrency market

Important Features that are under Offering and Key Highlights of the Market Report:

Detailed overview of Market Share
Changing market dynamics of the industry
In-depth market segmentation by Type, Application, etc.
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape of Market
Strategies of key players and product offerings
Potential and niche segments/regions exhibiting promising market growth
Top Players List:

Microsoft
Intel Corporation
NVIDIA
Coinbase
AlphaPoint
Xilinx
BitGo, Inc.
Bitfury
BTL Group of companies
Key Industry Developments

October 2018- Bitstamp, a Luxembourg-based crypto exchange was acquired by b a Belgium based investment firm NXMH in a deal of aroung US$ 350 Mn.
September 2018- A San Fransisco based firm BitTorrent was acquired by Tron in a US$ 150 Mn deal 
October 2018, multinational investment bank and financial services company, Morgan Stanley, released their latest report on Bitcoin. stating that Bitcoins and altcoins have constituted a "new institutional investment class" since 2017.
Queries Addressed In Cryptocurrency Market Report:

What opportunities are present for the market players to enhance their business footprint?
What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
Which segment is witnessing huge traction from the consumers?
For what purposes, is the market being utilized?
How many units are estimated to be sold in 2020?
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Segmentation

1. By Components

Software
Hardware
2. By Process

Transaction
Mining
3. By Type

Bitcoin
Etherum
Litecoin
Ripple
Dashcoin
4. By End User

Remittance
Media and entertainment
Peer-to-peer payment
E-commerce and retail
5. By Geography

North America (USA and Canada)
Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
Latin America (Brazil, Mexico and Rest of Latin America)
Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa
Key Features of Market Research Report:

This report provides detail analysis of the market and have a comprehensive understanding of the market and its commercial landscape.
Learn

About the various market strategies that are being adopted by leading companies.
It provides a five-year forecast assessed based on how the market is predicted to grow.
It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
To understand the future scope and outlooks for the market.
Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
The global market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
Market Report also mentions market share accrued by each product in the market, along with the production growth.
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Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing

About recent product innovations and gives an overview on potential regional market shares.