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.
https://www.businesswire.com/news/home/20200916005073/en/” data-reactid=”13″This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200916005073/en/
Technavio has announced its latest market research report titled Global Cryptocurrency Mining Hardware Market 2020-2024 (Graphic: Business Wire)
Download a Free Sample Report on COVID-19 Impacts ” data-reactid=”26″Although the COVID-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-COVID-19 analysis. Download a Free Sample Report on COVID-19 Impacts
The increasing popularity of ICOs is a major trend driving the growth of the market.
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.
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 is one of the major factors driving the 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.
View market snapshot before purchasing” data-reactid=”36″View market snapshot before purchasing
Cryptocurrency Mining Hardware Market is segmented as below:
- North America
- South America
Cryptocurrency Mining Hardware Market- Roadmap for Recovery from COVID-19|Rising