Crypto Asset Management Market Revenue That Will Boost Overall Industry Growth by 2031 | 30.2% CAGR
Growth in the global crypto asset management market is fueled by digital finance, rising cryptocurrency investments, and streamlined purchasing.
PORTLAND, OR, UNITED STATES, October 10, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global crypto asset management market size garnered $0.67 billion in 2020, and is expected to garner $9.36 billion by 2030, manifesting a CAGR of 30.2% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, key segments, value chain, regional scenario, top investment pockets, and competitive landscape.Increase in digitalization in financial organizations and large companies, surge in investments for cryptocurrency, and simplification of the process for purchasing cryptocurrency fuel the growth of the global crypto asset management market. However, lack of skilled security professionals and high implementation cost restrain the market growth. Contrarily, untapped potential in emerging economies presents new opportunities in the new few years.
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Covid-19 Scenario:
1. The COVID-19 pandemic has elevated the adoption of cloud based crypto asset management solutions among banks and fintech institutions to secure their systems and provide customers with scalable, resilient, and agile crypto services.
2. Furthermore, cloud based crypto asset management provides individuals and enterprises with improved flexibility as well as cost effective solutions. The demand for crypto asset management is expected to remain constant post pandemic as week.
The report offers detailed segmentation of the global crypto asset management market based on offering, application type, mobile operating system, end user, industry vertical, and region.
By deployment model, the on-premise segment contributed to the highest share in 2020, accounting for nearly three-fifths of the total market share, and is expected to maintain its lead during the forecast period. However, the cloud segment is projected to witness the highest CAGR of 33.1% from 2021 to 2030.
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By offering, the wallet management solution segment accounted for the largest market share, contributing to nearly three-foruths of the global crypto asset management market in 2020, and is projected to maintain its leadership status during the forecast period. However, the custodian solutions segment is expected to portray the largest CAGR of 32.7% from 2021 to 2030.
By region, North America held the highest share in 2020, contributing to more than two-fifths of the total market, and is expected to continue its dominance by 2030. However, Asia-Pacific is projected to witness the fastest CAGR of 33.5% during the forecast period. Other provinces studied in the report include LAMEA and Europe.
Leading players of the global crypto asset management market analyzed in the research include Bakkt, BitGo., Coinbase, Crypto Finance AG, Gemini Trust Company, LLC, ICONOMI Limited, Paxos Trust Company, LLC., Ledger SAS, Metaco, and Xapo Holdings Limited.
Despite its growth potential, the crypto asset management market faces several challenges. Regulatory uncertainty remains a significant hurdle, as differing regulations across jurisdictions can complicate compliance for asset managers. Moreover, the volatile nature of cryptocurrency prices poses risks for asset management strategies, necessitating the development of effective risk management techniques. Security concerns, particularly regarding hacks and thefts, also impact investor confidence, making it crucial for asset managers to implement robust security measures.
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