Technavio has been monitoring the cryptocurrency mining hardware market and it is poised to grow by $ 2.80 bn during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Cryptocurrency Mining Hardware Market 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
What are the major trends in the market?
The increasing popularity of ICOs is a major trend driving the growth of the market.
At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at 5.72% and the incremental growth of the market is anticipated to be $ 2.80 bn.
Who are the top players in the market?
Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd., are some of the major market participants.
What is the key market driver?
The rising popularity of mining pools is one of the major factors driving the market.
How big is the APAC market?
The APAC region will contribute 57% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd. are some of the major market participants. The rising popularity of mining pools will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Cryptocurrency Mining Hardware Market 2020-2024: Segmentation
Cryptocurrency Mining Hardware Market is segmented as below:
- North America
- South America
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Cryptocurrency Mining Hardware Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The cryptocurrency mining hardware market report covers the following areas:
- Cryptocurrency Mining Hardware Market Size
- Cryptocurrency Mining Hardware Market Trends
- Cryptocurrency Mining Hardware Market Industry Analysis
This study identifies the increasing popularity of ICOs as one of the prime reasons driving the cryptocurrency mining hardware market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Cryptocurrency Mining Hardware Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist cryptocurrency mining hardware market growth during the next five years
- Estimation of the cryptocurrency mining hardware market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the cryptocurrency mining hardware market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of cryptocurrency mining hardware market vendors
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 – 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product
- ASIC – Market size and forecast 2019-2024
- GPU – Market size and forecast 2019-2024
- Market opportunity by Product
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2019-2024
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Advanced Micro Devices Inc.
- ASICminer Co.
- Baikal Miner
- Bitfury Group Ltd.
- BitMain Technologies Holding Co.
- Canaan Inc.
- Cynosure Technologies Co. Ltd.
- Halong Mining
- INNOSILICON Technology Ltd.
- Shenzhen MicroBT Electronics Technology Co. Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
List of abbreviations
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