World Cryptocurrency Market to Post 32.31% CAGR through 2023, Expects M&M in Its New Report Published at MarketPublishers.com
30 Oct 2017 • by Natalie Aster
LONDON – The cryptocurrency market value is poised to increase from USD 541 million in 2017 to reach USD 2,902 million by end-2023, registering a 32.31% CAGR. The major drivers for the market growth include the increasing remittance volumes in developing economies, high cost of cross-border remittance, and inconstant monetary regulations.
Furthermore, the market is also stimulated by the transparency and invariableness of the distributed ledger technology (DLT) and benefits like faster transaction and a reduction in the total cost of ownership. Meantime, the ambiguous rules and standards pertaining to cryptocurrency limit this market growth.
Geography-wise, the APAC market is projected to register the most rapid CAGR during the projected period. Due to the low cost of electricity, suitable climatic conditions (specifically in Northern China), existence of big electronics production units, and availability of VC funding, the Chinese market is set to post the fastest rate in the years to come. In addition, Japan boasts the greatest awareness and knowledge of cryptocurrency. The country’s government regulations are also favourable for cryptocurrency transactions.
New research publication “Cryptocurrency Market - Global Forecast to 2023” elaborated by M&M provides a refined understanding of the market landscape and dynamics on a global level.
The report bifurcates the market based on offering, type, process, end-use sector, and region-wise.
The study provides the closest estimates and forecasts of the size of the total market and its subsegments for different applications and in various regions. The report gives an analysis of the value chain and sheds light on the major trends in the market. It explores key market driving forces and restraints, opportunities, and market challenges. The study throws light on the competitive scenario in the industry and offers a discussion of the top 13 players operating in the marketplace, their products, key insights, recent developments, main growth strategies, among others.
A full collection of new cutting-edge reports by the publisher can be found in M&M online catalogue.