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Global Crypto Asset-Management Market Will Exceed $9B by 2030: Report

By TNP Digital Desk -
  • Updated
  • :
  • 20th August 2021,
  • 11:28 AM

Crypto Asset-Management Market is expected to cross $9 billion by 2030.

Bitcoin

A recent report published by Allied Market Research suggests that the global cryptocurrency asset-management market size is set to grow to $9.4 billion by 2030. In 2020, the market size was $670 million. The adoption of Cryptocurrency has increased 23-fold in the global market.

Many people have become used to making transactions using digital tokens, digital wallets, and online payments systems over the past few years, with India, Ukraine, and Pakistan driving the surge recently.

Reportedly, the most significant factors in the development and growth of the Global Crypto Asset Management Market are – growing investments in crypto technology asset management and increasing venture capital funding.

Data shows that the Global Crypto Asset Management Market size will grow at a Compound Annual Growth Rate (CAGR) of 20.5% from 2021 to 2026, that is from – USD 0.48 billion to USD 1.23 billion. The rapid growth in blockchain technology is likely to boost the growth of crypto asset management solutions globally. Trust shown by several big or small corporate and administrative entities in crypto-assets and the evolution of the crypto asset management industry is another significant factor of further boosting the market.

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Moreover, Allied Market Research perceives the ongoing COVID-19 pandemic as one of the driving forces behind the adoption of cloud-based crypto asset management by organizations and institutions including the banking sector.

Reports from the research organisation also suggest that increased digitization of financial services, increasing investments in cryptocurrencies, and access to easier ways of buying crypto assets are set to fuel the market’s growth in the coming years.

Market Dynamics of Crypto Asset-Management As Per Report

Drivers

  • The growth of Blockchain Technology
  • High Remittances in Developing Countries
  • Increasing Venture Capital Investments
  • Safeguarding Cryptocurrency Assets

Restraints

  • The Lack of Awareness, Technical Understanding of Cryptocurrency
  • Lack of Statutory & Regulatory Framework of The Cryptocurrency Market Globally
  • Client’s Fund Safety Because of No Standard Policy Related To Crypto

Opportunities

  • Providing New Investment Opportunities During COVID-19 Pandemic
  • Adoption of Crypto Across Different Verticals
  • Potential Untapped Markets

Challenges

  • Technical Challenges Pertaining to Scalability
  • Security, Privacy, and Control Issues
  • The Performance Varies Across Cryptocurrency Exchanges Due To The COVID-19 Pandemic

Growth of Global Crypto Asset Management Market by Geography

  • North America
  • South America
  • Europe
  • Asia-Pacific
  • Rest of the World

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