Global Cryptocurrency Market, By Industry Components (Exchanges, Wallets, Payments, Mining), By Verticals (BFSI, Retail, Media & Entertainment, Gaming industry, Healthcare, Travel & Tourism, Transportation & Logistics, Education), and By Geography - Insights, Size, Share, Opportunity Analysis, and Industry Forecast till 2025

  • Published On : Oct 2017 |
  • Pages : 300 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Cryptocurrency Market: Medium of exchange that utilizes cryptography for secure transactions and control additional currency unit creation

Cryptocurrency are digital medium of exchange, alternative to conventional currencies such as US$ or Euros. These utilize digital information exchange based on the principles of cryptography, to provide secure means of transactions and in many cases provides anonymity. In 2009, Bitcoin became the first decentralized digital currency, which leads to the introduction of over thousand other digital currencies in the market.

Growing demand in conjunction with the decreasing supply of digital currency is among the prominent factor influencing the growth of the pricing of the cryptocurrency market

Digital currencies are classified as an asset or currencies depending from country to country. For instance, Bitcoin has 21 million units, given that the global population is around 7 billion, and even if around 50 million of the population adopt Bitcoin, this would require a premium price tag to suffice the users. Moreover, the creation of these currencies is constant and unchangeable, generating limited supply and higher costs. In 2016, Bitcoin witnessed an increase in the costs, mainly due to the imminent decrease in the supply of new coins.

Energy required to secure the blockchain, mining difficulty, and their utility fuels the growth of cryptocurrency market

Energy is utilized intensively in securing the blockchains. Most popular form, proof of work (POW) block chain requires significant amount of energy. According to a press release by bitconnect.co, the Bitcoin (BTC) blockchain requires energy equal to a small country for securing payment. Moreover, increase in blockchain security leads to increase in the mining difficulty. Many other factors fueling the market growth include the growing inclination of the population towards digital assets, increasing media reporting, number of investors, and security of the payments among others. From March 2017 to September 2017, the cryptocurrency market witnessed an exponential increase of capital to around 599.8%. Moreover, growing awareness and adoption of digital exchange, is expected to drive the industry growth over the forecast period.

The global cryptocurrency market is estimated to be valued at US$ 189.9 billion in 2017 and is expected to witness a CAGR at 56.2% during the forecast period (2017 – 2025).

Figure 1. Global Cryptocurrency Market, Key Industry Trends

cryptocurrency market

Source: Coherent Market Insights Analysis (2017)

Significantly large untapped potential base in the payment industry is expected to boost growth prospects over the forecast period

Increment in the digital currency value during the past years were mainly due to the increasing transaction volumes mostly for BTC. In 2016, BTC generated a revenue of around US$ 130 billion, though it is expected that transaction volumes will witness considerable surge in the near future in particular segment. However, Paypal recorded a volume of over US$ 735 billion in 2016, whereas, Western Union volumes accounted approximately 4.61% higher than BTC, pegged at over US$ 730 billion. Therefore, it can be determined that the overall utilization of the digital assets as a form of payment is still at its nascent stage, and promises to hold significant growth in the near future.

Drawbacks in the scalability and its legalization hindering the market growth

As of September 2017, the industry is estimated to be valued at around US$ 166 billion (according to CoinMarketCap), is still too far from actual user penetration. Number of users participating in the ecosystem is expected to witness considerable surge, led to the increase in the scalability issues. However, regulations and legalization are expected to be the prominent factors that will hinder the cryptocurrency market growth. For instance, in 2017, regulations in China banned the initial coin offerings (ICO) and halted the trading of virtual currencies, mainly due to the lack of centralized control. However, many other developed and emerging countries are planning initiatives to legalize these currencies. U.S., Singapore, Russia, and Switzerland are among the prominent countries that are expected to witness considerable penetration over the forecast period.

Some of the most valued currencies in the cryptocurrency market include Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Ripple, Peercoin, Dogecoin, Dash, NEM, and Namecoin. Top ten cryptocurrency industries acquire shares of over 85% of the global capital. Some of the major players operating in the global cryptocurrency market include Bitfinex, BitFury Group Limited, Bitstamp Ltd., Coinbase, Coinsecure, Litecoin, OKEX Fintech Company Limited, Poloniex Inc., Ripple, Unocoin Technologies Private Limited, and ZEB IT Service Pvt. Ltd.

Cryptocurrency market can be subtly defined as the value of the digital entries in a database that cannot be changed without the fulfillment of the specific defined conditions. It was designed by Satoshi and quoted as a peer-to-peer electronic cash system, which was further realized as an exchange medium that can be electronically created and stored in the blockchain using cryptography to control the creation of additional units. Owing to its limited supply and the potential as an alternative to conventional currency, the technology has gained considerable interests, and is projected to witness CAGR of 56.2% over the forecast period (2017-2025).

Market Dynamics

Prominent drivers fueling cryptocurrency market growth include the enhanced security through distributed control and utilization of block chain, mainly owing to the limited supply and the growing requirement of intensive infrastructure to mine new units. However, growing number of illegal activities owing to decentralized control, lack of regulatory bodies to efficiently track the transactions, are among the prominent drawbacks of the market growth. Moreover, high volatility of the value over the past few months, outright ban in the countries such as Bangladesh, Thailand, Kyrgyzstan, and Ecuador, are expected to hinder the market growth over the forecast period. Growing popularity of the digital assets is expected to drive the government bodies of major global economies to establish regulatory framework, which would in turn, expected to drive the cryptocurrency market growth across the globe.

Market Taxonomy

This report segments the global cryptocurrency market on the basis of industry components and the Vertical. On the basis of industry components, the global cryptocurrency market is classified into exchanges, wallets, payments, and mining. For detailed analysis of the study, the exchanges have been segmented into small exchanges and large exchanges. Furthermore, wallets are segmented into services offered by registered corporations and volunteer projects; followed by segmentation of the payment into payment rail and cryptocurrency payments. For better understanding of the mining industry component, its ecosystem has been classified into mining pool, hardware, manufacturing, cloud mining services, and remote hosting services. On the basis of the Vertical, cryptocurrency market is segmented into BFSI, retail, media & entertainment, gaming industry, healthcare, travel & tourism, transportation & logistics, and education.

Key features of the study:

  • This report provides an in-depth analysis of cryptocurrency market and provides market size (US$ Million) and Cumulative Annual Growth Rate (CAGR %) over the forecast period (2017 – 2025), considering 2016 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new launches, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the global cryptocurrency market based on the following parameters –company overview, financial performance, business focus, geographical presence, financial performance, key developments and strategies, and future plans
  • Key companies covered as a part of this study include Bitfinex, BitFury Group Limited, Bitstamp Ltd., Coinbase, Coinsecure, Litecoin, OKEX Fintech Company Limited, Poloniex Inc., Ripple, Unocoin Technologies Private Limited, and ZEB IT Service Pvt. Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future business propositions, technology up-gradation, market expansion and marketing tactics
  • The global cryptocurrency market report caters to various stakeholders in this industry including investors, suppliers, miners, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision making through the various strategy matrices used in analyzing the cryptocurrency market

Detailed Segmentation:

  • Global Cryptocurrency Market, By Industry Component:
    • Exchanges
      • Small Exchanges
      • Large Exchanges
    • Wallets
      • Registered Corporations
      • Volunteer Projects
    • Payments
      • Payment rail
        • Money Transfer Services
        • B2B Payments
      • Cryptocurrency payments
        • Merchant Services
        • General Purpose Cryptocurrency Platform
    • Mining
      • Mining
      • Mining Pool
      • Mining Hardware Manufacturing
      • Cloud Mining Services
      • Remote Hosting Services
  • Global Cryptocurrency Market, By Vertical:
    • BFSI
    • Retail
    • Media & Entertainment
    • Gaming Industry
    • Healthcare
    • Travel & Tourism
    • Transportation & Logistics
    • Education
  • Global Cryptocurrency Market, By Geography:
    • North America
      • By Industry Component:
        • Exchanges
        • Wallets
        • Payments
        • Mining
      • By Vertical:
        • BFSI
        • Retail
        • Media & Entertainment
        • Gaming Industry
        • Healthcare
        • Travel & Tourism
        • Transportation & Logistics
        • Education
      • U.S.
      • Canada
    • Europe
      • By Industry Component:
        • Exchanges
        • Wallets
        • Payments
        • Mining
      • By Vertical:
        • BFSI
        • Retail
        • Media & Entertainment
        • Gaming Industry
        • Healthcare
        • Travel & Tourism
        • Transportation & Logistics
        • Education
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Russia
      • Rest of Europe
    • Asia Pacific
      • By Industry Component:
        • Exchanges
        • Wallets
        • Payments
        • Mining
      • By Vertical:
        • BFSI
        • Retail
        • Media & Entertainment
        • Gaming Industry
        • Healthcare
        • Travel & Tourism
        • Transportation & Logistics
        • Education
      • China
      • India
      • Japan
      • Australia
      • South Korea
      • ASEAN
      • Rest of Asia Pacific
    • Latin America
      • By Industry Component:
        • Exchanges
        • Wallets
        • Payments
        • Mining
      • By Vertical:
        • BFSI
        • Retail
        • Media & Entertainment
        • Gaming Industry
        • Healthcare
        • Travel & Tourism
        • Transportation & Logistics
        • Education
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East
      • By Industry Component:
        • Exchanges
        • Wallets
        • Payments
        • Mining
      • By Vertical:
        • BFSI
        • Retail
        • Media & Entertainment
        • Gaming Industry
        • Healthcare
        • Travel & Tourism
        • Transportation & Logistics
        • Education
      • GCC
      • Israel
      • Rest of Middle East
    • Africa
      • By Industry Component:
        • Exchanges
        • Wallets
        • Payments
        • Mining
      • By Vertical:
        • BFSI
        • Retail
        • Media & Entertainment
        • Gaming Industry
        • Healthcare
        • Travel & Tourism
        • Transportation & Logistics
        • Education
      • Central Africa
      • South Africa
      • North Africa
  • Company Profiles
    • Bitfinex*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • BitFury Group Limited
    • Bitstamp Ltd.
    • Coinbase
    • Coinsecure
    • Litecoin
    • OKEX Fintech Company Limited
    • Poloniex Inc.
    • Ripple
    • Unocoin Technologies Private Limited
    • ZEB IT Service Pvt. Ltd.
  • Available Customizations
    • Cryptocurrency ATM Market
    • Cryptocurrency Payment Market
    • Cryptocurrency Wallet Market 

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Industry Components
      • Market Snippet, By Verticals
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
        • U.S.
        • Europe
        • Asia Pacific
          • Japan
          • South Korea
          • China
          • Taiwan
          • Rest of Asia Pacific
        • RoW
      • Industry Trend
      • New Cryptocurrency Launch And Potentials
      • Promotion And Marketing Initiatives
      • Average Value Per Share (2017)
      • Cryptocurrency Valuation (2017)
      • Cryptocurrency User Base (Industry Usage)
      • Block Chain & Distributed Computing Technology
      • Basis Point Share Analysis(2014-2016)
      • Basis Point Share Analysis (2017-2025)
      • Is Cryptocurrency Next ".Com" Disaster? (Exclusive Analysis)
        • Cryptocurrency Outlook
          • Bitcoin
          • Ether
          • Dash
          • Monero (XMR)
          • Ripple (XRP)
          • Litecoin (LTC)
          • Others
  4. Global Cryptocurrency Market Analysis, By Industry Components, 2016 - 2025
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • Exchanges
      • Introduction
      • Market Size and Future Potential, 2015 - 2025
      • Industry Segment Analysis
        • Small Exchanges
        • Large Exchanges
    • Wallets
      • Introduction
      • Market Size and Future Potential, 2015 - 2025
      • Industry Segment Analysis
        • Registered Corporations
        • Volunteer Projects
    • Payments
      • Introduction
      • Market Size and Future Potential, 2015 - 2025
      • Industry Segment Analysis
        • Payment rail
          • Money Transfer Services
          • B2B Payments
        • Cryptocurrency payments
          • Merchant Services
          • General Purpose Cryptocurrency Platform
    • Mining
      • Introduction
      • Market Size and Future Potential, 2015 - 2025
      • Industry Segment Analysis
        • Mining
        • Mining Pool
        • Mining Hardware Manufacturing
        • Cloud Mining Services
        • Remote Hosting Services
  5. Global Cryptocurrency Market, By Vertical, 2016 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, 2015 and 2025 (%)
      • Segment Trends
    • BFSI
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Retail
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Media & Entertainment
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Gaming Industry
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Healthcare
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Travel & Tourism
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Transportation & Logistics
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
    • Education
      • Introduction
      • Market Size and Forecast, 2015 - 2025, (US$ Million)
  6. Global Cryptocurrency Market, By Regions, 2016 - 2025 (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2015 and 2025 (%)
      • Y-O-Y Growth Analysis, For Regions, 2015 - 2025
    • North America
      • Regional Trends
      • Market Size and Forecast, By Vertical, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Industry Components, 2015 - 2025
        • U.S.
        • Canada
    • Europe
      • Regional Trends
      • Market Size and Forecast, By Vertical, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Industry Components, 2015 - 2025
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Rest of Europe
    • Asia Pacific
      • Regional Trends
      • Market Size and Forecast, By Vertical, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Industry Components, 2015 - 2025
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • Regional Trends
      • Market Size and Forecast, By Vertical, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Industry Components, 2015 - 2025
        • Brazil
        • Mexico
        • Rest of Latin America
    • Africa
      • Regional Trends
      • Market Size and Forecast, By Vertical, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Industry Components, 2015 - 2025
        • South Africa
        • Central Africa
        • Northern Africa
    • Middle East
      • Regional Trends
      • Market Size and Forecast, By Vertical, 2015 - 2025 (US$ Million)
      • Market Size and Future Potential, By Industry Components, 2015 - 2025
        • GCC Countries
        • Israel
  7. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Bitfinex
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • BitFury Group Limited
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Bitstamp Ltd.
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Coinbase
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Coinsecure
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Litecoin
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • OKEX Fintech Company Limited
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Poloniex Inc.
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Ripple
        • Company Overview
        • Business Focus
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Unocoin Technologies Private Limited
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • ZEB IT Service Pvt. Ltd.
        • Company Overview
        • Business Focus
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
    • Analyst Views
  8. Section
    • References
    • Research Methodology
    • About us and Sales Contact
    • Available Customizations
      • Cryptocurrency ATM Market
      • Cryptocurrency Payment Market
      • Cryptocurrency Wallet Market

*Browse 50 market data tables and 30 figures on "Cryptocurrency Market - Global forecast to 2025”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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