Chicago, June 02, 2023 (GLOBE NEWSWIRE) -- The global Crypto Asset Management Market size is projected to grow from USD 0.4 billion in 2021 to USD 1.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 21.5% during the forecast period, according to the report by MarketsandMarkets™. The major factors that are expected to drive the growth of the crypto asset management market include the high remittances in developing countries, the growth in venture capital investments, the need for safeguarding cryptocurrency assets, and the proliferation of blockchain technology.
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147 - Tables
74 - Figures
206 - Pages
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This report's scope covers the crypto asset management market by solution, end user, enterprise vertical, application type, deployment mode, mobile OS, and region. Moreover, this study analyzes the crypto asset management market based on contemporary trends and developments, and its potential growth from 2021 to 2026. It provides detailed trends, vendors’ shares, size, forecast, and analysis of key players in the market.
Scope of the Report
| Report Metrics | Details |
| Market value in 2021 | USD 0.4 Billion |
| Market value in 2026 | USD 1.2 Billion |
| Market Growth Rate | CAGR of 21.5% |
| Segments covered | Solution, End User, Enterprise Vertical, Application Type, Deployment Type, Mobile Operating System (OS), and Regions. |
| Geographies Covered | North America, Europe, APAC, ROW. |
| Available Customizations |
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Vertical: Retail and eCommerce
The retail and eCommerce industry are booming across the globe, owing to advancements in network infrastructure, smartphone penetrations, increase in income per capita, and stable geopolitical situation. The retail vertical functions in an environment that is relatively diversified as compared to other verticals. They are highly tech-savvy in terms of the adoption of advanced technologies and cryptocurrency is not the exception. The retail and eCommerce application area are an associated global network of suppliers, retailers, eCommerce portals, and customers interacting in physical stores, as well as digital online channels. The retail and eCommerce application area faces steep challenges in the form of limited supply visibility that leads to instability, increasing customer demand for product authenticity, and high transaction fees from third-party payment processors. Overstock.com was the first retailer to accept eCommerce payments via cryptocurrency.
Covid-19 Impact:
Retail and eCommerce companies are expected to leverage cryptocurrency for the online and offline payment process.
The need to enhance customer experience would drive the adoption of crypto asset management in the retail and eCommerce enterprise vertical.
The increasing number of online activities in the retail industry during the post-COVID period is the major factor contributing to the adoption of crypto asset management solutions in the retail and eCommerce enterprise vertical
APAC Region:
APAC countries, such as China, India, Australia, Singapore, and Japan, are witnessing notable growth in the cryptocurrency market. The APAC region is expected to provide significant growth opportunities for vendors operating in the cryptocurrency management market during the forecast period. Rapid advancements in the network infrastructure, cloud computing, economic growth, and stable geopolitical system have provided a platform for the growth of solution providers in the APAC region. The presence and use of digital currency significantly influence the financial system in APAC. The growth of cryptocurrencies has attracted many large financial institutions to achieve greater business agility in the banking systems. Cryptocurrency, which is powered by blockchain technology, allows institutional clients to conduct transactions and exchanges, thus trading more quickly. Digital currency does not need any third-party intervention owing to its decentralized networks.
The integration of crypto asset management in the developing regions of APAC is helping organizations transform their business processes. Key financial hubs and massive shipping and trading industries, including Hong Kong and Singapore, provide huge opportunities for the adoption of blockchain technology in various application areas, such as healthcare and life sciences, government, BFSI, media and entertainment, and manufacturing.
Frequently Asked Questions (FAQ)
What is the projected market value of the global crypto asset management?
The global market of crypto asset management is projected to reach USD 1.2 billion
What is the estimated growth rate (CAGR) of the global crypto asset management market for the next five years?
The global crypto asset management market is projected to grow at a Compound Annual Growth Rate (CAGR) of 21.5% from 2023 to 2026.
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