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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