New York, USA, December 9, 2021 (GLOBE NEWSWIRE) - Market overview:
According to a comprehensive research report from Market Research Future (MRFR), "Crypto Asset Management Market information by deployment mode, by components, by application and region - forecast for 2028โThe market is valued at USD 455.3 million in 2021 and will reach USD 1807.9 million, growing at a compound annual growth rate of 21.8% by 2028.
Market scope:
Increasing venture capital funding coupled with growing investments in crypto asset management technology will offer strong opportunities for the crypto asset management market in the forecast period. The lack of a uniform regulatory framework in conjunction with unverified cryptocurrency providers can act as a market challenge during the forecast period.
The Dominant Key Players in the Covered Crypto Asset Management Market are:
- Coinbase Inc. (United States)
- Gemini Trust Company LLC. (US)
- Crypto Finance AG (Germany)
- Genesis Global Trading Inc. (USA)
- Bakkt Holdings Inc. (United States)
- BitGo Inc. (USA)
- ICONOMI Limited (UK)
- BINANCE (UK)
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PVU market exclusively covered:
Market indicators
Increasing adoption in BFSI and IT sector to drive market growth
The increasing adoption of cryptocurrencies in the BFSI and IT sector will drive the growth of the market during the forecast period. Furthermore, the growing need in the healthcare sector is also adding growth to the market.
Lack of technical experts to remain a market constraint
Lack of technical expertise and infrastructure can act as a market constraint during the forecast period. Also, the long delays caused to complete a cryptocurrency transfer are the additional challenges in the market.
Explore In-Depth Market Research Report (100 Pages) On Crypto Asset Management Market:
https://www.marketresearchfuture.com/reports/crypto-asset-management-market-10730
Market segmentation covered in the research:
The crypto asset management market forks based on end user, application type, deployment mode, and component.
By component, the solutions segment will lead the market during the forecast period with a high CAGR.
By deployment mode, the on-premises segment will dominate the market during the forecast period followed by cloud-based deployment which is projected to grow at a favorable CAGR.
By type of application, the web-based segment will lead the market during the forecast period followed by the mobile-based application which is likely to grow at a high CAGR.
By end user, the retail and e-commerce segment will have the lion's share of the market during the forecast period.
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Regional analysis
North America to Maintain Lions' Share of Crypto Asset Management Market
North America will maintain the lion's share of the crypto asset management market during the forecast period. Increased adoption of cryptocurrencies in Canada and the US, The adoption of advanced technologies such as blockchains in all industries, digitization of assets, the growing adoption in the US To make the country the most developed in it As regards the economy, growing acceptance of cryptocurrencies, and growing investments in cryptocurrencies are adding to the growth of the global crypto asset management market in the region. Also, the presence of several prominent providers such as Coinbase, Inc. (USA), Gemini Trust Company, LLC. (USA), Genesis Global Trading, Inc. (USA), Bakkt Holdings, Inc. (USA), BitGo, Inc. (USA), EXODUS MOVEMENT, INC. (USA), Paxos Trust Company, LLC. (US) and Amberdata, Inc. (US), The penetration of new industries, the improvement in the economy and the presence of a large number of cloud crypto solution providers in Canada and the US They also contribute to the growth of the market.
APAC will have remarkable growth in the crypto asset management market
The APAC region will see remarkable growth in the global crypto asset management market during the forecast period. Higher institutional degree, participation of the regional regulator, diversified opportunities for cryoinvestment, rapid advances in cloud computing, network infrastructure, economic growth, stable geopolitical system, presence and use of digital currency that influences the financial system of the region, growth of crypto-currencies that attract large financial institutions to achieve greater commercial agility in banking systems, the growing adoption of cryptocurrencies in the midst of financial institutions, the wide presence of several cryptocurrency mining companies that are converting into hosted solutions Asset management companies to effectively manage their business processes, especially in developing countries such as Singapore, India and China are joining the growth of the global crypto asset management market in the region.
Impact of COVID-19 on the Global Crypto Asset Management Market
The COVID-19 outbreak has boosted the efficiency of the global cryptocurrency market. The market has grown rapidly in recent years. Market capitalization has tripled in May 2021 to an all-time high of $ 2.5 trillion. An increase in the value of crypto assets is related to the increased interest in newer technologies and stablecoins. During the outbreak, FinTech applications and digital money have helped accelerate technological progress. Regulatory changes and increased confusion during the crisis affected all M&A activities, especially for new transactions. The rise of crypto assets has contributed to the acceleration of digitization, as well as the adoption of crypto asset management in the cloud. As the other commodities had been suffering at the time of the economic downturn, cryptocurrencies had become a safe investment. The emergence of crypto asset management enables institutions to provide profitable crypto financial services including live rate conversions, exchanges, crypto transactions, and other offerings driving market growth during the outbreak.
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