The Global Cryptocurrency Exchange Platform market was valued at USD 31.12 billion in 2021 and is profiled to grow at a compound annual growth rate of 28.1% from 2022 to 2030.
The growing popularity of digital assets such as cryptocurrencies and non-fungible tokens (NFTs) is expected to drive demand for cryptocurrency exchange platforms. People in developed countries such as the United States and Canada are rapidly adopting digital currencies because of their flexibility and ease of transaction. Additionally, the growing acceptance of mobile-based trading platforms is expected to create opportunities for the industry. Cryptocurrency also uses blockchain technology for decentralization and efficient transactions.
Market Dynamics:
Drivers:
We will see more growth opportunities as crypto trading platforms prove their authenticity among the population. Providing support from a well-established company lets users know their money is in a safe place. Tesla's revenue for 2021 jumped 7% in one day after Elon Musk's online statement about Bitcoin. Ether and other companies followed suit, increasing their revenue by 7%. For global market caps, this support could create more significant growth opportunities.
Restraints:
Due to cybersecurity issues related to crypto trading platforms, the global crypto market is expected to face difficulties during its growth trend. Malware, user confusion, illicit trading platforms, unregulated cryptocurrencies, phishing attacks, and third-party software are just some of the threats.
Because these platforms handle more money, they are vulnerable to various attacks and some platforms have not achieved legal status. If digital currency platforms do not upgrade their security systems promptly and eliminate the risk of malfunctions, the cryptocurrency exchange platform market may suffer losses.
Key players:
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BlockFi International Ltd.
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Coinmama
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eToro
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Coinbase
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Binance
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Kraken
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Bitstamp
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Coincheck, Inc.
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FTX Trading Ltd.
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AirSwap
Market Segmentation:
Cryptocurrency Exchange Platform Market, By Platform
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Web-based Crypto Trading Platform
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Mobile Crypto Trading Platform App
Cryptocurrency Exchange Platform Market, By Cryptocurrency
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Bitcoin
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Ethereum
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Tether
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USD Coin
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Binance Coin
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Others
Cryptocurrency Exchange Platform Market, By Region
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North America
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Latin America
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Europe
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East Asia
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South Asia & Pacific
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Middle East & Africa
Regional Segmentation:
North America dominated the global market in 2021, accounting for the largest share and over XX% of total sales. The growing popularity of cryptocurrencies as stores of value and the utilization of cryptocurrencies in local NFTs is driving the need for cryptocurrency exchange platforms. It is also attributed to several prominent players in the region, such as Gemini, Kraken, etc., and actions taken by various organizations to meet customer needs. For example, in June 2021, NCR Corp. and NYDIG partnered to provide cryptocurrency to credit unions and 650 banks.
Scope of the Report:
|
Report Metric |
Details |
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Market Size Available for Years |
2020–2030 |
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Base Year Considered |
2020 |
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Forecast Period |
2021–2030 |
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Forecast Unit |
Value (USD) |
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Segments Covered |
Offering, Technology, Application, End-User, and Region |
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Regions Covered |
North America, Europe, Asia-Pacific, and LAMEA |
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Companies Covered |
BlockFi International Ltd.; Coinmama; eToro; Coinbase; Binance; Kraken; Bitstamp; Coincheck, Inc. FTX Trading Ltd.; AirSwap |
User
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Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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