Global Digital Currency Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027

MarketResearch.biz, in its upcoming report titled, “Global Digital Currency Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2027”, offers in-depth insights, revenue details, and other vital information regarding the global digital currency market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027. The report also offers insightful and detailed information regarding the various key players operating in the global digital currency market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The digital currency market is segmented on the basis of product type, form, and region. The global digital currency market was valued at US$ X.X million in 2016, and is expected to reach US$ XX.X million over the forecast period at a CAGR of XX.X%.

Cryptocurrency or digital currency is a currency in which encryption technique is used for formation of units of currency. Moreover, using the same encryption technique transactions involving digital currency is carried out. The initial decentralized cryptocurrency was named as bitcoin, which is still in operation. Some other characteristics of digital currency include no physical presence, decentralized, less transaction cost, worldwide acceptance.

None or minimal interference by governments of countries across the globe for digital currency to operate is a key factor driving the growth of the global digital currency market. In addition, increasing adoption of digital currency due to its cost-effectiveness, and instantaneous nature of transactions is a major factor anticipated to fuel growth to the global digital currency market over the forecast period.

However, lack of appropriate government regulations is a key factor restraining the growth of the global digital currency market. In addition, lack of awareness among the general population is major factors expected to hamper the growth of the digital currency market over the forecast period.

North America is a dominant player in the global digital currency market and accounts for the largest market share in terms of revenue as compared to that of markets in other regions. This is attributed to well-developed digital infrastructure, the presence of leading digital currency miners, and increasing number of people using digital currency for the transaction. Europe accounts for the second-highest revenue share contribution to the global digital currency market followed by markets in Latin America, Asia Pacific and Middle East & Africa respectively. The market in Asia Pacific is projected to have the fastest growth in terms of CAGR, owing to increasing number of people adopting digital currencies as their preferred way of online transactions.

Global Digital Currency Market Segmentation:

Global digital currency market segmentation by application:

• Banking
• Real Estate
• Others

Global digital currency market segmentation by types:

• Ethereum
• Ripple
• Litecoin
• Darkcoin
• Ven
• Bitcoin

Global digital currency market segmentation by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa