The global cryptocurrency mining equipment market is segmented into mining type such as self-mining, cloud mining services, remote hosting services and others. Among these segments, cloud mining services segment is expected to grow at highest CAGR in overall global cryptocurrency mining equipment market during the forecast period. Increasing adoption of cryptocurrency mining services is believed to positively drive the growth of the cloud mining services segment over the upcoming years.
Global cryptocurrency mining equipment market is expected to flourish at a CAGR of 17.5% over the forecast period. Increasing usage of cryptocurrency by retailers is anticipated to drive the growth of the global cryptocurrency mining equipment market over the forecast period. Moreover, rising technological advancement in GPUs (Graphics Processing Units) and ASICs (Application Specific Integrated Circuits) is expected to increase the overall market of cryptocurrency mining equipment over the forecast period i.e. 2018-2027.
North America dominated the overall cryptocurrency mining equipment market and is expected to continue its control over the forecast period. Further, rising adoption of cryptocurrency in developed regions such as U.S. and Canada is expected to accelerate the growth of the cryptocurrency market in the upcoming years which in turn is likely to propel the demand for cryptocurrency mining equipment. Furthermore, Asia Pacific cryptocurrency mining equipment market is anticipated to witness robust growth during the forecast period. In addition, rising number of cryptocurrency mining services in the region is anticipated to positively impact the growth of the global cryptocurrency mining equipment in Asia Pacific.
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Rising Adoption of Cryptocurrency Mining Services
Rising adoption of cryptocurrency mining services such as cloud mining services and remote hosting services in developed regions is anticipated to positively impact the growth of the global cryptocurrency mining equipment market over the forecast period. Moreover, advancement in technologies related to cloud mining in various regions such as China and U.S. is expected to drive the market of cryptocurrency mining equipment over the forecast period.
Increasing Usage of Cryptocurrency by Retailers
Increasing usage of online payment through cryptocurrency by retailers across the globe is expected to increase the growth of global cryptocurrency mining equipment market. Apart from this, rising investment for mining specific equipment’s by leading semiconductor companies is anticipated to increase the growth of global cryptocurrency mining equipment market.
However, fluctuation in the price of cryptocurrency is one of the key factors which are expected to limit the growth of global cryptocurrency mining equipment market over the forecast period.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global cryptocurrency mining equipment market which includes company profiling of Samsung Electronics, NVIDIA Graphics Pvt. Ltd., Advanced Micro Devices Inc., Russian Miner Coin, Halong Mining, Zhejiang Ebang Communication Co. Ltd., Bitmain Technologies Ltd., Canaan Creative Co. Ltd., Taiwan Semiconductor Manufacturing Company (TSMC), BitFury Group Limited and Other Key Players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cryptocurrency mining equipment market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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