Market Scenario:
The global Crypto Asset Management Market was valued at USD 1.12 billion in 2022 and is predicted to reach USD 5.53 billion by 2030, at a CAGR of 25.5%, during the projection period of 2022-2030. The process of administering electronic assets to provide capable service via a distributed electronic ledger network is known as crypto asset management.
Rather than requiring several wallets for each form of cryptocurrency, crypto asset management tools simplify the management of all crypto wallet addresses in a single location. The growing cryptocurrency market and increased use of cryptocurrencies as a means of payment are moving the crypto asset management business forward.
Dominant Key Players on Crypto Asset Management Market Covered are:
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Market USP Exclusively Encompassed:
Market Drivers
Growing Adoption in BFSI, and IT Sector to Boost Market Growth
The growing adoption of crypto-currency in the BFSI and IT sector will boost market growth over the forecast period. Besides, the growing need in the healthcare sector is also adding to market growth.
Lack of Technical Experts to Remain as Market Restraint
The lack of technical expertise and infrastructure may act as market restraint over the forecast period. Besides, the long delays caused for completing a crypto-currency transfer are the additional challenges in the market.
Segmentation of Market Covered in the Research:
The crypto asset management market is bifurcated based on end user, application type, deployment mode, and component.
By component, the solutions segment will lead the market over the forecast period at a high CAGR.
By deployment mode, the on-premise segment will dominate the market over the forecast period followed by the cloud-based deployment that is predicted to grow at a favorable CAGR.
By application type, the web-based segment will spearhead the market over the forecast period followed by the mobile based application that is likely to grow at a high CAGR.
By end user, the retail and e-commerce segment will have the lions share in the market over the forecast period.
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Regional Analysis:
The global crypto asset management industry is predicted to generate considerable revenue from various continents during the forecasted period. The crypto asset management market has been broken down into four regions: North America, Europe, Asia-Pacific, and the Rest of the World. The United States, Canada, and Mexico make up North America. The United Kingdom, Germany, France, Italy, Spain, and the rest of Europe make up Europe. China, Japan, India, South Korea, Australia, and the Rest of Asia-Pacific make up Asia-Pacific.
Industry News:
Gemini Trust Company, LLC, a US-based cryptocurrency exchange, expanded its operations in Southeast Asia on July 21, 2021, and opened satellite offices across the region, notably in Australia and Hong Kong, to boost its geographical presence.
Genesis Capital, a renowned New York-based cryptocurrency firm that caters to institutional investors, purchased London-based custodian Volt on May 21, 2020. Genesis Capital will be able to recruit a wider range of institutional clients as a result of this transaction.
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