New York, United States – The Global Cryptocurrency Exchange Platform Market Size to grow from USD 32.77 billion in 2021 to USD 347.50 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 30.08% during the forecast period. The sector is expanding due to growing public awareness of cryptocurrencies and their benefits, including flexibility and security. Due to the development of blockchain technology, there is a great emphasis on safe and decentralized networks, which is positive for market expansion. The demand for the cryptocurrency exchange market is expected to rise as digital assets such as cryptocurrencies and Non-Fungible Tokens (NFTs) increase in popularity. Digital currency is quickly being embraced by people in industrialized nations like the U.S. and Canada because of its versatility and ease of transaction use. Additionally, the cryptocurrency exchange market is anticipated to benefit from the increasing use of mobile-based trading systems.
The COVID-19 pandemic has made an adverse impact on credit portfolios. There has been an unprecedented rise in unemployment and disruption in economic activity, putting a strain on the solvency of customers and companies. Central banks have taken a proactive approach by injecting liquidity into the market by lowering interest rates and asset purchase programs. Managing and monitoring credit, market, liquidity, and operational risk across financial markets were hard enough with ongoing geopolitical tensions, international trade wars, and the occasional hurricanes and earthquakes. The current pandemic has forced chief risk officers and their teams to recalibrate old assumptions and models used to manage and monitor risk. COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, many governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI.
The Bitcoin segment to account for the largest market size during the forecast period
Based on Cryptocurrency, the global Cryptocurrency exchange platform Market is categorized into Bitcoin, Ethereum, Cardano, Solana, and Others. The Bitcoin segment accounts for the largest market size during the forecast period. Since the Bitcoin Foundation of cryptocurrencies created the cryptocurrency industry, Bitcoin is considered the dominant cryptocurrency. As a result, Bitcoin has an impact on the entire cryptocurrency market. Additionally, the growth of several altcoins, including Litecoin, Bitcoin Cash, and Bitcoin Diamond, is expected to accelerate in the upcoming years. The need for Bitcoin exchange platforms is increased because Bitcoin is thought to be the most dependable and secure network.
The Commercial segment to hold a higher CAGR during the forecast period
Based on the End-use, the Cryptocurrency exchange platform Market is categorized into Personal and Commercial. The Commercial segment to hold a higher CAGR during the forecast period.
North America is estimated to account for the highest market share in 2021.
The Global Cryptocurrency exchange platform Market has been segmented into five major regions: North America, Europe, Asia-Pacific, South America, The Middle East and Africa. The demand for cryptocurrency exchange platforms is driven by the rising acceptance of cryptocurrencies as a form of value storage and their use in NFTs. Additionally, the supremacy is credited to the presence of several important players in the area, including Gemini, Kraken, and others, and numerous firms’ actions to satisfy client expectations. For instance, in June 2021, 650 banks, credit unions, and NCR Corp. collaborated to offer cryptocurrencies. Asia-Pacific to hold a higher CAGR during the forecast period.
Key Companies & Recent Developments: The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global cryptocurrency exchange platform Market include BlockFi International Ltd., Coinmama, eToro, Coinbase, Binance, Kraken, Bitstamp, Coincheck, Inc., FTX Trading Ltd., Cryptocurrency exchange platform Market AirSwap, and Others Prominent Key Players we are covered in the final report.
Source: SPHERICAL INSIGHTS LLP
