(MENAFN- PR Newswire) NEW YORK, Sept. 17, 2023 /PRNewswire/ -- The
Cryptocurrency
Mining Hardware Market
report has been added to Technavio's offering.
With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cryptocurrency mining hardware market between 2021
and 2026 is
USD 9.21
billion. The profitability of
cryptocurrency mining ventures drives the cryptocurrency mining hardware market.
Mining cryptocurrency is a slow and cumbersome process
that is not profitable on a small scale. The adoption of cryptocurrency cloud mining is growing
and in cloud-mining,
customers invest in a cloud-hosted cryptocurrency mining venture, which transfers a certain share of the earned cryptocurrency to its customers. Furthermore, factors like the profitability of cryptocurrency mining ventures will lead to the entry of several small-scale cryptocurrency mining ventures that will adopt cloud mining. Hence, such factors fuel the growth of the cryptocurrency mining hardware market during the forecast period.
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![Technavio has announced its latest market research report titled Global Cryptocurrency Mining Hardware Market 2022-2026]( "Technavio has announced its latest market research report titled Global Cryptocurrency Mining Hardware Market 2022-2026")
Technavio has announced its latest market research report titled Global Cryptocurrency Mining Hardware Market 2022-2026
Market Challenge - Volatility in the value of cryptocurrency
challenges the growth of the cryptocurrency mining hardware market.
The value of cryptocurrency is extremely volatile, which leads to
investors not including
cryptocurrency in their financial portfolios. Furthermore, factors like the lack of transaction charges, position charges, trade posting fees, and regulations on trading platforms also cause volatility in the value of cryptocurrency. Hence, such challenges impede the growth of the cryptocurrency mining market during the forecast period.
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The cryptocurrency mining hardware market is segmented by Product (ASIC and GPU) and Geography (APAC, North America, Europe, South America, and Middle East and Africa).
The
market share growth in
the ASIC
segment will be significant during the forecast period. These
solutions are used to process and record the transaction of cryptocurrencies efficiently. Furthermore, they
are built to solve a single hash algorithm. For instance, a Bitcoin mining ASIC-based hardware solution can only mine Bitcoin.
Hence, such factors fuel the growth of the ASIC segment of the cryptocurrency mining market during the forecast period. 46% of the global market's growth will originate from APAC during the forecast period.
View Free
Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Cryptocurrency
Mining Hardware Market:
Advanced Micro Devices Inc., Bitfury Group Ltd., BitMain Technologies Holding Co., Bolonminer, Canaan Inc., Ebang International Holdings Inc., GMO Internet Inc., Goldshell, Helium Systems Inc., HIVE Blockchain Technologies Ltd., INNOSILICON Technology Ltd., Intel Corp., Marathon Digital Holdings Inc., NVIDIA Corp., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen MicroBT Electronics Technology Co. Ltd, Spondoolies Ltd., Unruly Technologies Ltd.
Related Reports:
The Global Cryptocurrency
Market
size is estimated to grow
at a
CAGR of 15.81%
between 2022 and 2027. The
market size is forecast to increase by
USD 1,815.78 million.
This
cryptocurrency market report extensively covers
market segmentation by Type (bitcoin, Ethereum, and others), Component (hardware and software), and Geography (North America, Europe, APAC, South America, and Middle East and Africa).
Rising investment in digital assets is one of the key drivers fueling the
cryptocurrency market's growth.
The predicted growth for the
cryptocurrency
ATM market size from 2021 to 2026
is USD
2.37 billion at a progressing CAGR of 53.09%.
This cryptocurrency ATM market forecast report
extensively covers segmentations by type and geography.
The increasing number of installations is notably driving the cryptocurrency ATM market growth.
| Cryptocurrency
Mining Hardware Market Scope |
| Report Coverage | Details |
| Base year | 2021 |
| Historic period | 2017-2021 |
| Forecast period | 2022-2026 |
| Growth momentum & CAGR | Accelerate at a CAGR of 9.75% |
| Market growth 2022-2026 | USD 9.21 billion |
| Market structure | Fragmented |
| YoY growth 2022-2023 (%) | 8.67 |
| Regional analysis | APAC, North America, Europe, South America, and Middle East and Africa |
| Performing market contribution | APAC at 46% |
| Key countries | US, Canada, China, Russia, and Ireland |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Advanced Micro Devices Inc., Bitfury Group Ltd., BitMain Technologies Holding Co., Bolonminer, Canaan Inc., Ebang International Holdings Inc., GMO Internet Inc., Goldshell, Helium Systems Inc., HIVE Blockchain Technologies Ltd., INNOSILICON Technology Ltd., Intel Corp., Marathon Digital Holdings Inc., NVIDIA Corp., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen MicroBT Electronics Technology Co. Ltd, Spondoolies Ltd., and Unruly Technologies Ltd. |
| Market dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
ToC:
Executive Summary
Market Landscape
Market Sizing
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Product
Market Segmentation by Geography
Customer Landscape
Geographic Landscape
Drivers,
Challenges, &
Trends
Company Landscape
Company Analysis
Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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