Global Cryptocurrency Market 2016-2020

  • Published: Feb 2016
  • Pages: 37
  • SKU: IRTNTR8088
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This market research report presents the current scenario of the global cryptocurrency market. It outlines the market shares of key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are Bitcoin, Ripple, Litecoin, Peercoin, Namecoin, and Novacoin.

Market outlook of global cryptocurrency market

A cryptocurrency is a form of digital currency that is independent of any centralized bank. It is an encrypted code that can be transferred digitally using devices such as smartphones. Transactions using this currency are secure and easy unlike traditional card and cash purchases and do not require repetitive authentication. Most vendors and consumers are adopting cryptocurrency owing to the ease of transaction, which is one of the prime drivers for the cryptocurrency market size.

The encrypted code assigned to the stores can be scanned through smartphones and cryptocurrency can be transferred from the digital wallet of a purchaser to the digital wallet of the storekeeper. Unlike card transactions, these transactions do not incur service charges from the bank and are instant.  

Geographical segmentation of global cryptocurrency market

  • Americas
  • APAC
  • EMEA

The Americas was the dominant region in the cryptocurrency market during 2015. The region is the pioneer in the adoption of cryptocurrency with the US as the market leader that uses cryptocurrency as an alternate form of currency. Canada and Brazil are the other major countries in this region where cryptocurrency is regulated.

Competitive landscape and key vendors

The potential for growth and the increasing acceptance of Bitcoin attracted many vendors to the cryptocurrency market. Litecoin was one of the first cryptocurrency to gain prominence apart from Bitcoin in this market. These cryptocurrencies were introduced with an intention to eliminate the shortcomings of Bitcoins and have successfully captured sizable market shares.

The six leading vendors in the market are -

  • Bitcoin
  • Litecoin
  • Namecoin
  • Novacoin
  • Peercoin
  • Ripple

The other prominent vendors in this market include Bitshares, Bytecoin, Dogecoin, Feathercoin, Primecoin, Megacoin, Nxt, and Steller.

Key questions answered in the report

  • What are the key factors driving the global cryptocurrency market?
  • What are the key market trends impacting the growth of the global cryptocurrency market?
  • What are the various opportunities and threats faced by the global cryptocurrency market?
  • Trending factors influencing the market shares for EMEA, APAC, and the Americas?
  • The key outcome of the five forces analysis on the global cryptocurrency market?
  • Growth forecast of the global cryptocurrency market until 2020?

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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.

TechnavioINFORMATION SOURCES

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
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TechnavioDATA ANALYSIS

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
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TechnavioREPORT WRITING

Qualitative

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

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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