The cryptocurrency market size is expected to grow from USD 1.6 billion in 2021 to USD 2.2 billion by 2026, at a CAGR of 7.1%. Transparency or distributed ledger technology and growth in venture capital investments are the key factors driving the growth of the cryptocurrency market.
The cryptocurrency market is highly competitive owing to the presence of a large number of regional and global players. The key players are focusing on enhancing their product portfolios and increasing market share through strategies, such as product launches, collaborations, acquisitions, and divestments. Many market players adopted product launches as their key business strategy.
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Nvidia (US): NVIDIA is among the world leaders in visual computing. The company has a well-established geographic footprint and mainly deals with major OEMs/ODMs worldwide. The company continues to lead in the development of new mining hardware, such as GPUs, for the cryptocurrency market. The company has significantly invested in R&D. Moreover, it has more than 7,300 patents pertaining to modern computing.
Advanced Micro Devices (US): AMD is one of the largest suppliers of graphics processors in the world. The company has distribution channels worldwide and has made huge investments for innovation. Although AMD’s GPUs consume more power, they have been found to be very useful for block mining and higher hash rate, which makes AMD one of the key players in the cryptocurrency market. The company plans to re-establish itself in the cryptocurrency market in the near future.
Cryptocurrency Market by Offering (Hardware, and Software), Process (Mining and Transaction), Type, Application (Trading, Remittance, Payment: Peer-to-Peer Payment, Ecommerce, and Retail), and Geography
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