The worldwide market of IT and ITES has grown more significantly with the developed techniques of doing work in the recent trend with the crypto-currency category. The crypto-currency is a digital currency that uses cryptography techniques to create the transactions secure and to limit the formation of additional units of currency. Moreover, it is decentralized and there is no third-party/central body/governing body included in introducing new currency, identifying the transactions, and safeguarding the currency supply. Whereas, the technology of blockchain works as a ledger that represent the transaction activities among the peers. Crypto-currency is a future and new revenue stream in the digital finance word. Additionally, the key players of this market across the globe are adopting the attractive strategies and policies with the innovative idea of doing work for dominating the highest market share around the globe which further lead the fastest market growth across the globe in the short span of time.
According to the report analysis, ‘Worldwide Cryptocurrency And Blockchain Market (2016-2022)’ it states that there are several key players which are presently functioning in this market more significantly around the globe for accounting the highest market share by doing effective developments in the technology of doing related function includes ZEB IT Service Pvt. Ltd., Coinsecure, Coinbase, Bitstamp Ltd, Litecoin, Poloniex Inc, BitFury Group Limited, Unocoin Technoloiges Pvt Ltd, Ripple, Okex Fintech Company LTD, Bitfinex, Global Arena Holding Inc, BTL Group Ltd, DigitalX Limited, IBM Corp, Microsoft Corporation and several others. Moreover, with the effective working of the key players the nature of this is expand more and make the market more competitive which influenced the existing key players and coming investors for making the huge amount of investment which further proved to be beneficial for leading the highest market growth during the forecasted period.
Although, the growing online transaction, less transaction fees, easy and faster transaction, transforming consumer and business landscape have led the requirement for the market growth. Whereas, the prime drivers of the crypto-currency market involve proper security, authentication, ease of transactions and push mechanism that supports the crypto-currency holder to send exactly what he demands without any further information. Meanwhile, the global Crypto-currency and Blockchain Technology Market is expected to observe an effective CAGR of 35.2% during the forecast period of 2016-2022.
Additionally, on the basis of region, with the attractive growth drivers the market of this is spread across the globe which majorly includes Americas, Europe, Asia Pacific and Middle East & Africa. The Americas is set to be the prime region for the crypto-currency market growth followed by Europe. Meanwhile, the Asia Pacific and MEA are set to be the improving regions. India is set to be the most attractive destination and in Africa, the popularity and the utilization of numerous crypto-currencies are anticipated to rise in the near future. By 2022, the MEA market revenue is anticipated to reach USD 3.02 billion. Furthermore, it is anticipated that the market of cryptocurrency and blockchain will increase during the forecasted period more effectively.
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Ankur Gupta, Head Marketing & Communications