Cryptocurrency Mining Equipment Market Overview
Cryptocurrency mining refers to the principle of block chain technology which includes the assembling of transactions into blocks and then executes multiple computations, which further seal those blocks. The main advantage of cryptocurrency mining is that it verifies the transaction and in return provides transaction fees and new block.
Market Size and Forecast
The global cryptocurrency mining equipment market is expected to expand at a significant CAGR of 17.5% over the forecast period i.e. 2018-2027. Rising investment by large semiconductor companies in mining specific equipment’s is expected to drive the growth of global cryptocurrency mining equipment market over the forecast period.
On the basis of regional platform, global cryptocurrency mining equipment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Geographically, North America is estimated to dominate the overall market of cryptocurrency mining equipment during the forecast period. Increasing adoption of cryptocurrency in developed regions such as U.S. and Canada is expected to positively impact the growth of cryptocurrency mining equipment market over the forecast period. Further, growing prominence of cryptocurrency for daily transactions is positively impacting the customer perception for cryptocurrency. This factor is projected to significantly impact the growth of the cryptocurrency mining equipment market in North America.
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Asia Pacific cryptocurrency mining equipment market is poised to grow at a significant rate over the upcoming years. Rising usage of cryptocurrency services in the region is fostering the growth of cryptocurrency mining equipment market over the forecast period. Europe region is expected to observe outstanding growth in the upcoming years. Increasing advancement in technologies related to online transactions and money transfer is anticipated to drive the growth of cryptocurrency mining equipment market over the upcoming years.
Based on mining type, cryptocurrency mining equipment market is segmented into self-mining, cloud mining services, remote hosting services and others, out of which, cloud mining services segment is expected to dominate the overall cryptocurrency mining equipment market during the forecast period.
Market Segmentation
Our in-depth analysis has segmented global cryptocurrency mining equipment market into the following segments:
By Equipment Type
- CPU Mining
- Graphics Processing Units (GPUs)
- Field Programmable Gate Arrays (FPGAs)
- Application Specific Integrated Circuits (ASICs)
- Others
By Mining Type
- Self-Mining
- Cloud Mining Services
- Remote Hosting Services
- Others
By Region
Global cryptocurrency mining equipment market is further classified on the basis of region as follows:
- North America (United States, Canada), Market size, Y-O-Y growth Market size, Y-O-Y growth & Opportunity Analysis, Future forecast & Opportunity Analysis
- Latin America (Brazil, Mexico, Argentina, Rest of LATAM), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Europe (U.K., Germany, France, Italy, Spain, Hungary, BENELUX (Belgium, Netherlands, Luxembourg), NORDIC (Norway, Denmark, Sweden, Finland), Poland, Russia, Rest of Europe), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Asia-Pacific (China, India, Japan, South Korea, Malaysia, Indonesia, Taiwan, Hong Kong, Australia, New Zealand, Rest of Asia-Pacific), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa), Market size, Y-O-Y growth, Future forecast & Opportunity Analysis.
Growth Drivers and Challenges
The adoption of cryptocurrency mining services such as cloud mining services and remote hosting services is increasing in the developed regions. This factor is estimated to showcase a significant growth in the global cryptocurrency mining equipment market over the forecast period. Apart from this, increasing technological advancement in GPUs and ASICs is providing the miners with higher probability. This factor is expected to increase the growth of global cryptocurrency mining equipment market over the forecast period.
In addition, rising usage of cryptocurrency by retailers is increasing demand for cryptocurrency mining equipment. This factor is expected to increase the growth of the global cryptocurrency mining equipment market over the upcoming years. Further, increasing number of users for cloud mining is projected to positively impact the growth of global cryptocurrency mining equipment market over the forecast period.
Further, rising difficulty levels of alternative i.e. altcoin mining is projected to further strengthen the growth of global cryptocurrency mining equipment market over the forecast period. Moreover, increasing investment for mining specific equipment’s by leading semiconductor companies is expected to robust the growth of the global cryptocurrency mining equipment market over the forecast period.
However, volatility in value of cryptocurrency is one of the key factors which are expected to limit the growth of global cryptocurrency mining equipment market over the forecast period.
Top Featured Companies Dominating The Market
- Samsung Electronics
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- NVIDIA Graphics Pvt. Ltd.
- Advanced Micro Devices Inc.
- Russian Miner Coin
- Halong Mining
- Zhejiang Ebang Communication Co. Ltd.
- Bitmain Technologies Ltd.
- Canaan Creative Co. Ltd.
- Taiwan Semiconductor Manufacturing Company (TSMC)
- BitFury Group Limited
- Other Key Players
