PUBLISHER: Roots Analysis | PRODUCT CODE: 1821511
PUBLISHER: Roots Analysis | PRODUCT CODE: 1821511
As per Roots Analysis, the global cryptocurrency market size is estimated to grow from USD 3.33 billion in the current year to USD 11.07 billion by 2035, at a CAGR of 11.54% during the forecast period, till 2035.
The opportunity for cryptocurrency market has been distributed across the following segments:
Type of Technology
Area of Application
Type of Custody Solution
Type of Cryptocurrency
Type of Component
Type of Process
Type of Experience Level
Geographical Regions
Cryptocurrency Market: Growth and Trends
Digital currencies have transformed the contemporary asset market through their decentralized nature, broad accessibility, and the implementation of blockchain technology. Following the introduction of Bitcoin in 2009, the original and most well-known cryptocurrency, adoption rates for crypto have surged dramatically. Bitcoin remains the most reliable cryptocurrency, with Ethereum following closely, recognized for its smart contract functionalities. Currently, there are more than 10,000 cryptocurrencies available, providing investors with a wide array of digital assets to consider.
The emergence of cryptocurrency signifies more than merely a financial phenomenon; it indicates a wider technological transition in global investment practices. As the infrastructure surrounding crypto advances, it has drawn in a new wave of both retail and institutional investors. A significant part of this expansion is fueled by younger investors who are entering the market via online trading platforms. These platforms provide intuitive interfaces and integrated features that make crypto trading accessible and professional. The growing allure of crypto as a viable full-time career option is also altering the financial sector's perspective on this market.
During the COVID-19 pandemic, the movement towards digital investments experienced a swift increase. This rise in adoption contributed to the maturation of the cryptocurrency market into a well-recognized financial ecosystem that is now welcomed by both retail investors and institutional participants. As a result, owing to the above mentioned factors, the cryptocurrency market is expected to grow significantly during the forecast period.
Cryptocurrency Market: Key Segments
Based on type of technology, the global cryptocurrency market is segmented into blockchain platforms, consensus mechanisms, decentralized finance (DeFi) and smart contracts. According to our estimates, currently, the decentralized finance (DeFi) segment captures the majority of the market share. This growth can be attributed to the extensive use in blockchain-based financial services and peer-to-peer payment networks.
However, the blockchain technology segment is expected to grow at a higher CAGR during the forecast period, driven by the growing acceptance in various industries and the ability to provide secure, transparent, and decentralized transactions.
Based on areas of application, the global cryptocurrency market is segmented into gaming and entertainment, non-fungible tokens (NFTs), payments and remittances, and trading and investments. According to our estimates, currently, the gaming and entertainment segment captures the majority of the market share. This growth is driven by rising awareness of financial diversification, heightened interest from institutional investors, and the emergence of user-friendly trading platforms.
However, the NFTs segment is expected to grow at a relatively higher CAGR during the forecast period. This growth can be attributed to their increasing real-world applications, endorsement from celebrities and global brands, and a wider cultural shift towards digital asset ownership.
Based on type of custody solution, the global cryptocurrency market is segmented into cold storage, custodial services, hot wallets, and multi-signature wallets. According to our estimates, currently, the trading and investment segment captures the majority of the market share. This growth is driven by a rising awareness of financial diversification, increasing interest from institutional investors, and the emergence of user-friendly trading platforms.
However, the NFTs segment is expected to grow at a relatively higher CAGR during the forecast period. This growth is primarily attributed to their increasing real-world applications, endorsement by celebrities and global brands, and a wider cultural shift towards digital asset ownership.
Based on type of cryptocurrency, the global cryptocurrency market is segmented into bitcoin, ethereum, litecoin, ripple, dashcoin, and bitcoin cash. According to our estimates, currently, the bitcoin segment captures the majority of the market share due to its established network and relative price stability.
Additionally, the bitcoin is anticipated to sustain robust growth, owing to the recent advancements like the introduction of Bitcoin ETFs, which have expanded institutional access and boosted investor confidence. Ethereum, recognized for its smart contract capabilities, is expected to closely follow, with increasing utility in decentralized applications and finance.
Based on type of component, the global cryptocurrency market is segmented into hardware and software. According to our estimates, currently, the hardware segment captures the majority of the market share, due to the rising demand for advanced mining equipment. In particular, the increasing adoption of Application-Specific Integrated Circuits (ASICs) and other specialized mining devices is contributing to the expansion of this segment, especially in regions with growing mining infrastructure and activities.
Based on type of process, the global cryptocurrency market is segmented into mining and transaction. According to our estimates, currently, the mining segment captures the majority of the market share, as it is crucial for ensuring the security of cryptocurrency networks and authenticating transactions.
However, the transaction segment is expected to grow at a relatively higher CAGR during the forecast period, owing to the rising acceptance of digital currencies for instantaneous, cross-border payments and the shift away from centralized financial intermediaries.
Based on type of experience level, the global cryptocurrency market is segmented into beginners, intermediate users, and expert users. According to our estimates, currently, the intermediate users segment captures the majority of the market share, who have a better understanding of crypto platforms and engage in trading more frequently. However, the beginners segment is expected to grow at a relatively higher CAGR during the forecast period, as platforms with user-friendly designs, built-in tutorials, and expanded educational resources are aiding in welcoming new participants into the digital asset market.
Based on geographical regions, the cryptocurrency market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and the rest of the world. According to our estimates, currently, Asia captures the majority share of the market. This can be attributed to swift digital transformation, extensive internet accessibility, and growing engagement in nations such as China and India. Additionally, Asia is expected to experience the highest compound annual growth rate (CAGR) during the forecast period, supported by continuous advancements in fintech and an increase in both public and private sector investments in cryptocurrency infrastructure.
Cryptocurrency Market: Research Coverage
The report on the cryptocurrency market features insights on various sections, including:
Key Questions Answered in this Report
Reasons to Buy this Report
Additional Benefits