Europe Cryptocurrency Market to Witness Formidable Growth During Forecast Period
Fluctuations in monetary
regulations is expected to drive the growth of Europe cryptocurrency market.
According to
TechSci Research report, “Europe Cryptocurrency Market By Offering (Hardware & Software), By Process
(Mining & Transaction), By Type (Bitcoin, Ethereum, Bitcoin Cash, Ripple,
Dashcoin, Litecoin, Others), By End User (Banking, Real Estate, Stock Market
& Virtual Currency), By Country, Competition, Forecast & Opportunities,
2025”, Europe cryptocurrency market is expected to witness substantial CAGR during
the forecast period. High cost of cross-border remittance is one of the major factors
accounting for the growth of Europe cryptocurrency market. Moreover, transparency
of distributed ledger technology is expected to bode well for the growth of
Europe cryptocurrency market through the forecast period. In addition to this, high
remittances in developing countries is positively influencing the growth of
Europe cryptocurrency market. Also, high growth in venture capital investment is
making headway for the growth of Europe cryptocurrency market. Along with this,
increased
investment in blockchain technology provide favorable opportunities for
advancements in the cryptocurrency industry. However, there are some factors
that might act as major impediments to the growth of Europe cryptocurrency market
through 2025 including lack of regulations and the uncertainty regarding the
same. Moreover, due to concerns in terms of standardization and
interoperability, the regulatory status of cryptocurrency remains uncertain,
which might hamper the growth of this market through 2025.
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Europe cryptocurrency
market can be segmented based on offering, process, type, end user, company, and
region. Based on type, the market can be categorized into bitcoin, Ethereum,
bitcoin cash, ripple, dashcoin, litecoin, and others. Out of these, the bitcoin
segment dominated the market until 2019 and is expected to grow at the highest
CAGR during the forecast period on account of growing awareness among the investors
along with availability of larger returns. In terms of process, the market is
fragmented into mining & transaction. Among them, transaction segment is
estimated to dominate the market over the next five years on account of have
several advantages it provides, such as enhanced transactional security, decentralized
system, protection from fraud and low fees. Furthermore, factors such as quick
international transfers and protection from consumer chargebacks are further
boosting the growth of segment in the region.
Intel Corporation, NVIDIA
Corporation, Microsoft Corporation, Xilinx, Inc., Advanced Micro Devices, Inc.,
AlphaPoint Corporation, Amazon.com, Inc., BitGo, BTL Group Ltd. (Blockchain
Tech), BitFury Group, Coinbase UK, Ltd., 21 Inc., Ripple Labs Inc., are among others are the leading players operating in Europe cryptocurrency market. The players are adopting several growth strategies to enhance the market scenario of cryptocurrency.
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“Europe
cryptocurrency market is forecast to register high growth in the market over
the next five years on account of high level of knowledge in people about
cryptocurrencies. Furthermore, favorable government regulations in the region
is further boosting the market growth for cryptocurrency over the coming years.
In addition to this, increasing adoption of the digital currency by several
traders is further anticipated to propel the market growth through 2025”, said
Mr. Karan Chechi, Research Director with TechSci Research, a research-based
global management consulting firm.
“Europe Cryptocurrency Market By Offering
(Hardware & Software), By Process (Mining & Transaction), By Type
(Bitcoin, Ethereum, Bitcoin Cash, Ripple, Dashcoin, Litecoin, Others), By End
User (Banking, Real Estate, Stock Market & Virtual Currency), By Country,
Competition, Forecast & Opportunities, 2025” has evaluated
the future growth potential of Europe cryptocurrency market and provides
statistics & information on market size, structure and future market
growth. The report intends to provide cutting-edge market intelligence and help
decision makers take sound investment decisions. Besides, the report also
identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in Europe cryptocurrency market.
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