Cryptocurrency Mining Hardware Market by Product and Geography - Forecast and Analysis 2020-2024

  • Published: May 2020
  • Pages: 120
  • SKU: IRTNTR43766

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The cryptocurrency mining hardware market size is expected to grow by $ 2.80 bn and record a CAGR of 7% during 2020-2024.

This post-pandemic global cryptocurrency mining hardware market report has assessed the shift in consumer behaviour and has identified and explored the upcoming trends and drivers that the vendors can capitalize on to support prompt business decisions. In this cryptocurrency mining hardware market analysis report, key drivers such as rising popularity of mining pools have been discussed with emerging growth regions, which will offer immense business opportunities. Our analysts have also identified challenges such as declining cost of mining hardware, which will impede market growth. With these insights, the vendors can recreate their plan of action to obtain growth opportunities in the future.

What will the Cryptocurrency Mining Hardware Market Size be in 2020?


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Who are the Key Vendors in the Cryptocurrency Mining Hardware Market?

The cryptocurrency mining hardware market forecast report provides insights on complete key vendor profiles and their business strategies to reimage themselves. The profiles include information on the production, competitive landscape, sustainability, and prospects of the leading companies includng:


  • Advanced Micro Devices Inc.
  • ASICminer Co.
  • Baikal Miner
  • Bitfury Group Ltd.
  • BitMain Technologies Holding Co.
  • Canaan Inc.
  • Cynosure Technologies Co. Ltd.
  • Halong Mining
  • INNOSILICON Technology Ltd.
  • Shenzhen MicroBT Electronics Technology Co. Ltd.


The cryptocurrency mining hardware market is fragmented and the vendors are deploying various growth strategies to compete in the market. Click here to uncover other successful business strategies deployed by the vendors.

This cryptocurrency mining hardware market report further entails segmentations by Product (ASIC and GPU) and Geography (APAC, North America, Europe, South America, and MEA). View our sample report to gather market insights on the segmentations.

To make the most of the opportunities, vendors should focus on fast-growing segments, while maintaining their positions in the slow-growing segments. Fetch actionable market insights on post COVID-19 impact on each product and service segments.


Which are the Key Regional Markets for Cryptocurrency Mining Hardware Market?


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The report offers an up-to-date analysis of the geographical composition of the market. APAC had the largest market share in the cryptocurrency mining hardware market in 2020, and the region will offer several growth opportunities to market vendors during the forecast period. The increasing popularity of icos will significantly influence biofuels market growth in this region. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

57% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for cryptocurrency mining hardware market in the region. This report provides estimations of the contribution of all regions to the growth of the cryptocurrency mining hardware market size.


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What are the Key Factors Covered in this Cryptocurrency Mining Hardware Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive cryptocurrency mining hardware market growth during the next five years
  • Precise estimation of the cryptocurrency mining hardware market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the cryptocurrency mining hardware industry across APAC, North America, Europe, South America, and MEA
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of cryptocurrency mining hardware market vendors

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Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.


Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases


Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts



  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis


  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The cryptocurrency mining hardware market growth will increase by $2801.12 million during 2019-2024.
The cryptocurrency mining hardware market is expected to grow at a CAGR of 7.47% during 2019-2024.
Technavio has segmented the cryptocurrency mining hardware market by product (ASIC and GPU) and geographic (APAC, North America, Europe, South America, and MEA).
Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., Shenzhen MicroBT Electronics Technology Co. Ltd. are a few of the key vendors in the cryptocurrency mining hardware market.
APAC will register the highest growth rate of 56.76% among the other regions. Therefore, the cryptocurrency mining hardware market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
  • China
  • US
  • Russian Federation
  • Canada
  • Switzerland
  • Japan
The key factors driving the cryptocurrency mining hardware market growth are:
  • Rising popularity of mining pools
  • Increasing popularity of ICOs
The cryptocurrency mining hardware market vendors should focus on grabbing business opportunities from the asic segment as it accounted for the largest market share in the base year.

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