Global Virtual Currencies Market showed crucial growth in the recent years and is anticipated to witness a steep rise by generating an estimated revenue of US$ XXXX over the forecast period. According to latest study conducted by our analysts and industry experts, global virtual currency market is expected to grow at a CAGR of XX.XX% during the forecast period, i.e. 2017-2025.

Virtual currency, also known as crypto currency or digital currency, is a form of digital wealth that is controlled and issued by its developers and is accepted by specific virtual groups or communities. Virtual currency does not possess a valid tender, although they can be used for real-world purchasing of goods and services.

Global Virtual Currencies Market Size Analysis By Region 2017-2025

Market Dynamics

Virtual currencies market was valued at around USD 1.87 billion in the year 2017, and is anticipated to grow rapidly during the forecast period, owing to escalation in recognition and acceptance of virtual currency across various developed as well as developing nations. Proliferation in number of malicious software, coupled with rising adoptation of social media and gamification are other major reasons for the growth of the virtual currencies market over the forecast period.

Furthermore, independency offered by virtual currencies due to uninvolvement of banks in the transitions is a significant factor which is expected to stimulate the growth of virtual currencies market. However, absence of a valid tender and security issues related to digital or virtual currencies can restrain the growth of the virtual currencies market. Low support of financial measures in the standardization of virtual currencies and rising cyber threats can also hinder the growth of the market during the forecast period.

Objectives Of The Study

1. To forecast the market size of virtual currencies Market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of virtual currencies market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of virtual currencies market, such as drivers, restraints, challenges and opportunities.

4. Regional analysis of virtual currencies market, to induce market size of five global major regions, which include, Europe, North America, South America, Middle East & Africa and Asia Pacific.

5. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

6. To provide detailed analysis of competitive and strategic developments in the virtual currencies market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

7. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for global market players.

8. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of virtual currencies market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of virtual currencies market commercially.

Segment Analysis 

Bitcoin is expected to be the leading segment among various listed virtual currency types, owing to its huge popularity across the globe. Lower transaction rates on Bitcoin transfer is a significant reason for the growth of the segment. No interruption of third party in Bitcoin transaction and user anonymity feature offered by Bitcoin payment are other reasons that are expected to contribute in the growth of Bitcoin in the global virtual currencies market.

Litecoin is expected to be the fastest growing segment, due to the higher market stability offered by Litecoin. Rising popularity of Litecoin in developing economies such as China, which is also one of the most populous countries is another reason for the anticipated growth of the segment in the global virtual currencies market.

Regional Analysis of Virtual Currencies Market

North America is projected to be holding the major market share in the global virtual currencies market due to wider acceptance of virtual currencies by the american population. Faster pace of life in the region is motivating people to opt for faster means of money transactions, and purchase goods and services within few seconds, which are escalating the growth of virtual currency market of the region. Furthermore, presence of global virtual currency players in the region such as Coinbase and Ripple are boosting the growth of the region in global virtual currencies market.

Key players operating in Virtual Currencies Market

Major players performing in global virtual currencies market include Xapo, GoCoin, Coinbase, Unicoin, Safello, Elliptic, milliPay Systems, Ripple, and CoinJar. Major market players are focusing on merger & acquisition activities in order to maintain their prominence in the market. For instance, in August 2018, a Japanese e-Commerce company Rakuten, acquired local crypto exchange Everybody’s Bitcoin, with the aim to enter into cryptocurrency exchange industry. Looking at the importance of virtual currencies in e-commerce, Rakuten took the acquisition decision. The deal between Rakuten and Everybody’s Bitcoin was worth USD 2.4 million.

Global Virtual Currencies Market Report Offer You!

Global virtual currencies market size report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

The global market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.

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