Global Digital Coin Market 2016-2020

Digital Coin Market overview

According to the digital coin industry analysis, Technavio’s market research analyst predicts the global digital coin market to grow at a CAGR of more than 7% by 2020.  This market is primarily driven by Bitcoin, the leading vendor in the digital currency market. The bitcoin network has gained wide acceptance across the globe as the investors believe that bitcoins are a safe option for investment owing to their huge market share and highest acceptance rate, compared to other digital currencies. With the growing popularity of digital currencies, several companies are launching the bitcoin network to the mainstream economy. In addition, they are also trying to leverage the digital currencies to ease the streamlining of international transfer, which will help investors to actively engage in the foreign exchange market without incurring huge transaction costs.

To ensure fast and secure transactions, several corporations are formulating long-term strategies to make use of digital currencies. Companies are opting for such currency forms for secure online payments and to reduce the number of intermediaries between the merchants and the customers. Moreover, the implementation of the digital coin technology will be beneficial for the foreign exchange and international remittances and will also help in the complex clearing and settlement of securities. Besides enabling the cross-border payments, these systems will speed up the money transfer process across different financial services.

Geographical segmentation and analysis of the digital coin market

• Americas
• EMEA
• APAC

EMEA is the largest region in the digital coin market and is expected to occupy around 52% of the total market share by 2020. In Europe, the European Securities and Markets Authority (ESMA) has undertaken investigations of blockchain technologies and digital currencies, which is boosting the investment rate in the region. Digital currencies are gaining prominence in this region as all transactions are open to people. This increases the transparency and credibility rate of these transaction systems.