Dublin, Nov. 25, 2024 (GLOBE NEWSWIRE) — The “Virtual Currency Market Report 2024” has been added to ResearchAndMarkets.com’s offering.
This Virtual Currency market report covers industry characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
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 growth during the historic period can be attributed to the dominance of cryptocurrencies in developed countries, the increasing need for efficient and convenient payment methods, the presence of major digital payment companies, rising investments from institutional investors, and growing demand for cryptocurrencies due to their utility and scarcity.
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%. The growth in the forecast period can be attributed to an increasing number of nodes, favorable government regulations, investments by private venture companies, growing acceptance of virtual currencies by consumer businesses, and expanding usage of blockchain technology.
Major trends expected during this period include the adoption of digital currencies such as e-RMB, the launch of Bitcoin exchange-traded funds (ETFs), the emergence of new cryptocurrencies, advancements in blockchain technology, and increased investment in innovative startups.
The increasing demand for digital payments is projected to drive the growth of the virtual currency market. Digital payments involve monetary transactions conducted electronically, offering advantages such as convenience, security, and speed over traditional payment methods. This growing adoption of digital payments supports the expansion of virtual currencies by providing secure and seamless transaction methods that integrate with various digital wallets and platforms. For example, in October 2023, data from the Canadian Payments Association, a Canada-based payment regulation and settlement organization, showed that Canadian online payment transactions increased from 1.0 billion in 2021 to 1.11 billion in 2022, representing an 11% rise. As a result, the rising demand for digital payments is fueling the growth of the virtual currency market.
Companies in the virtual currency sector are focusing on developing sophisticated financial infrastructure, such as institutional-grade solutions, to improve security and integration for digital assets. Institutional-grade solutions are advanced financial systems designed to meet the rigorous security, compliance, and operational requirements of large institutional investors. For instance, in October 2022, BNY Mellon, a US-based financial services firm, introduced a digital asset custody platform in the US. This platform allows a select group of clients to securely hold and transfer Bitcoin and Ethereum, marking the first multi-asset platform to combine the custody of both digital and traditional assets, thus enabling institutional clients to manage cryptocurrencies alongside their conventional financial assets.
Major companies operating in the virtual currency market are Binance, Xilinx, Coinbase, Robinhood, Gemini Space Station, Bitstamp, Bit fury Group, Bitpay Elliptic, Block.one Inc., Bit Go, Xapo Holdings, Bit Main Technologies, Coinjar, Cointelegraph, Gocoin, Millipay Systems, Safello, Unicoin DcX and HTX Global.
This report focuses on virtual currency market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Markets Covered:
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
Key Companies Mentioned: Binance, Xilinx, Coinbase, Robinhood and Gemini Space Station
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita.
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024 – 2028 |
| Estimated Market Value (USD) in 2024 | $2.71 Billion |
| Forecasted Market Value (USD) by 2028 | $4.35 Billion |
| Compound Annual Growth Rate | 12.6% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Virtual Currency Market Characteristics
3. Virtual Currency Market Trends and Strategies
4. Virtual Currency Market – Macro Economic Scenario
4.1. Impact of High Inflation on the Market
4.2. Ukraine-Russia War Impact on the Market
4.3. COVID-19 Impact on the Market
5. Global Virtual Currency Market Size and Growth
5.1. Global Virtual Currency Market Drivers and Restraints
5.2. Global Virtual Currency Historic Market Size and Growth, 2018-2023, Value ($ Billion)
5.3. Global Virtual Currency Forecast Market Size and Growth, 2023-2028, 2033F, Value ($ Billion)
6. Virtual Currency Market Segmentation
6.1. Global Virtual Currency Market, Segmentation by Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Centralized Virtual Currency
- Decentralized Virtual Currency
6.2. Global Virtual Currency Market, Segmentation by Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
6.3. Global Virtual Currency Market, Segmentation by Usage, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Trading
- E-Commerce and Retail
- Remittance
- Payment
- Other Usages
7. Virtual Currency Market Regional and Country Analysis
7.1. Global Virtual Currency Market, Split by Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Virtual Currency Market, Split by Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8-29. Country Specific Virtual Currency Market
30. Virtual Currency Market Competitive Landscape and Company Profiles
30.1. Virtual Currency Market Competitive Landscape
30.2. Virtual Currency Market Company Profiles
- Binance
- Xilinx
- Coinbase
- Robinhood
- Gemini Space Station
31. Virtual Currency Market Other Major and Innovative Companies
- 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
32. Global Virtual Currency Market Competitive Benchmarking
33. Global Virtual Currency Market Competitive Dashboard
34. Key Mergers and Acquisitions in the Virtual Currency Market
35. Virtual Currency Market Future Outlook and Potential Analysis
35.1 Virtual Currency Market in 2028 – Countries Offering Most New Opportunities
35.2 Virtual Currency Market in 2028 – Segments Offering Most New Opportunities
35.3 Virtual Currency Market in 2028 – Growth Strategies
For more information about this report visit https://www.researchandmarkets.com/r/6a2126
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