DUBLIN--(BUSINESS WIRE)--The "Crypto Asset Management Market by Solution (Custodian and Wallets), Application Type (Web-based and Mobile), End user (Individual and Enterprise (Institutions (BFSI, Hedge Funds), Retail and eCommerce)), Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The market size is expected to grow from USD 386 million in 2020 to USD 1,123 million by 2025, at a Compound Annual Growth Rate (CAGR) of 23.8% during the forecast period.
Increasing venture capital funding and growing investments in crypto asset management technology would drive the overall growth of the crypto asset management market.
The increasing venture capital funding and growing investments in crypto asset management technology would drive market growth.
Based on solution, the wallet management segment to hold a higher market share in 2020
Wallet management solution enables businesses to secure their digital assets and streamline business operations. Moreover, asset managers and small financial institutions mainly use this solution. The adoption of cryptocurrency is growing across large as well as small financial institutions. Therefore, the wallet management segment registers the highest growth rate during the forecast period.
Based on application type, the mobile segment to register the highest growth rate during the forecast period
Mobile apps created for exchanging cryptocurrencies can make things easier for asset traders and miners. Various stock market apps came into being featuring cryptocurrency apps; these types of apps not only allow them to have total control over the digital assets, but one can also trade with them. Therefore, the mobile segment holds the highest growth rate during the forecast period.
Among regions, Asia Pacific to register the highest growth rate during the forecast period
Asia Pacific (APAC) has witnessed an advanced and dynamic adoption of new technologies and is expected to record the highest CAGR in the global crypto asset management market during the forecast period. APAC constitutes major economies, such as China, Japan, Singapore, Australia, and New Zealand, which are expected to register high growth rates in the crypto asset management market. Industries such as financial institutions, healthcare, retail and eCommerce, and travel and hospitality are expected to adopt crypto asset management solutions at the highest rate in the region. Companies operating in APAC would benefit from the flexible economic conditions, industrialization-motivated policies of the governments, as well as from the growing digitalization, which is expected to have a significant impact on the business community.
Market Dynamics
Drivers
- High Remittances in Developing Countries
- Growth in Venture Capital Investments
- Safeguarding Cryptocurrency Assets
- Proliferation of Blockchain Technology
- COVID-19 Has Fueled the Growth of Cryptocurrency Market
Restraints
- Lack of Regulatory Framework
- Lack of Awareness and Technical Understanding Regarding Cryptocurrency
Opportunities
- Adoption of Cryptocurrency Across Verticals
- Potential Untapped Markets
- Crypto Asset Management Providing New Investment Opportunities During the COVID-19 Pandemic
Challenges
- Security, Privacy, and Control Issues
- Technical Challenges Pertaining to Scalability
- the Performance Varies Across Cryptocurrency Exchanges Due to the COVID-19 Pandemic
Companies Profiled
- Coinbase
- Gemini
- Crypto Finance
- Vo1T
- Bakkt
- Bitgo
- Ledger
- Metaco SA
- Iconomi
- Exodus Movement
- Xapo
- Itbit (Paxos)
- Koine Finance
- Amberdata
- Gem
- Tradeium
- Blox
- Opus Labs
- Binance
- Kryptogrape
- Koinly
- Altpocket
- Mintfort
- Coinstats
- Anchorage
- Cointracker
For more information about this report visit https://www.researchandmarkets.com/r/yf86c1
