Virtual Currency Market
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The new report published by The Business Research Company, titled Virtual Currency Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the virtual currency market size has grown rapidly in recent years. It will grow from $2.41 billion in 2023 to $2.71 billion in 2024 at a compound annual growth rate (CAGR) of 12.5%. The virtual currency market size is expected to see rapid growth in the next few years. It will grow to $4.35 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%.
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What Is Driving The Growth Of The Global Virtual Currency Market?
Rising Demand For Digital Payments Fuels Growth In Virtual Currency Market
Rising demand for digital payments is expected to propel the growth of the virtual currency market going forward. Digital payments refer to any form of monetary transaction that is conducted electronically. The increasing adoption of digital payments is driven by the convenience, security, and speed they offer compared to traditional methods. Digital payment systems enhance virtual currency adoption by providing seamless and secure transaction methods that integrate with various digital wallets and platforms. For instance, in October 2023, according to the data published by the Canadian Payments Association, a Canada-based payment regulation and settlement organization, Canadian payment transactions via online transfer rose from 1,007 million in 2021 to 1,118 million in 2022, marking an 11% increase. Therefore, the rising demand for digital payments is driving the growth of the virtual currency market.
What Is The Key Trend In The Global Virtual Currency Market?
Advancements In Financial Infrastructure For Digital Asset Management
Major companies operating in the virtual currency market are focusing on developing advanced financial infrastructure, such as institutional-grade solutions, to enhance security and integration for digital assets. Institutional-grade solutions refer to advanced financial systems designed to meet the high security, compliance, and operational standards required by large institutional investors. For instance, in October 2022, BNY Mellon, a US-based financial services company, launched a digital asset custody platform in the US, enabling a select group of clients to securely hold and transfer Bitcoin and Ethereum. It is the first multi-asset platform to integrate the custody of digital and traditional assets, providing an innovative solution enabling institutional clients to manage cryptocurrencies such as Bitcoin and Ethereum alongside their conventional financial assets.
How Is The Global Virtual Currency Market Segmented?
The virtual currency market covered in this report is segmented –
1) By Type: Centralized Virtual Currency, Decentralized Virtual Currency
2) By Component: Hardware, Software
3) By Usage: Trading, E-Commerce And Retail, Remittance, Payment, Other Usages
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How Is The Competitive Landscape Of The Global Virtual Currency Market?
Major companies operating in the virtual currency market are Binance Inc., Xilinx Inc., Coinbase Inc., Robinhood Inc., Gemini Space Station LLC, Bitstamp Inc., Bit fury Group Limited, Bitpay Inc., Elliptic Inc., Block.one Inc., Bit Go Inc., Xapo Holdings Limited, Bit Main Technologies Holding, Coinjar Inc., Cointelegraph Inc., Gocoin Inc., Millipay Systems, Safello Inc., Unicoin DcX, HTX Global
Contents Of The Global Virtual Currency Market
1. Executive Summary
2. Virtual Currency Market Report Structure
3. Virtual Currency Market Trends And Strategies
4. Virtual Currency Market – Macro Economic Scenario
5. Virtual Currency Market Size And Growth
…..
27. Virtual Currency Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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