Market Research Report
Global Cryptocurrency Mining Hardware Market 2019-2023
|Published by||TechNavio (Infiniti Research Ltd.)||Product code||827309|
|Published||Content info||128 Pages
Delivery time: 1-2 business days
|Global Cryptocurrency Mining Hardware Market 2019-2023|
|Published: April 17, 2019||Content info: 128 Pages||
The increasing number of product launches are expected to trigger the market growth during the forecast period. Vendors are making significant investments in research and development for developing innovative technologies and new products. In addition, they are incorporating different technologies for increasing the hash rate and reducing power consumption for making mining more efficient. Such a rising number of product launches will boost the cryptocurrency mining hardware market during the forecast period. Technavio's analysts have predicted that the cryptocurrency mining hardware market will register a CAGR of over 10% by 2023.
One of the growth drivers of the global cryptocurrency mining hardware market is the growing demand for cryptocurrency-specific hardware. This has led to the development of field-programmable gate array (FPGA) processors and ASICs that use hard-wired logic chipsets, which are specifically designed with hash-solving instructions.
One of the challenges in the growth of the global cryptocurrency mining hardware market is the high operational cost leading to low-profit margins. The rise in the number of cryptocurrency startups closing their operations will affect the growth of the market during the forecast period.
For the detailed list of factors that will drive and challenge the growth of the cryptocurrency mining hardware market during 2019-2023, view our report.
The market appears to be moderately fragmented with the presence of several market players. Vendors offering mobile-based payment solutions are investing in the market to launch smartphones that will enable users to mine cryptocurrencies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market's competitive landscape and offering information on the products offered by companies.