Global Crypto Asset Management Market Segmentation, By Solution (Custodian Solution, Wallet Management), Deployment (Cloud, On-Premises), Mobile Operating System (iOS, Android), Application (Web-Based, Mobile), End User (Individual, Enterprise), Enterprise Vertical (Institutions, Retail and E-Commerce, Healthcare, Travel and Hospitality, Others) – Industry Trends and Forecast to 2031
Crypto Asset Management Market Analysis
Cryptocurrency is one of the more exciting investing prospects to emerge in recent years. An increasing number of institutional investors and wealth managers who have never invested in cryptocurrencies are getting ready to do so in the upcoming year as their prices continue to rise. The global market for crypto asset management is anticipated to generate significant amounts of revenue owing to the growing use of blockchain technology over the forecasted timeline.
Crypto Asset Management Market Size
Global crypto asset management market size was valued at USD 717.11 million in 2023 and is projected to reach USD 4413.01 million by 2031, with a CAGR of 25.50% during the forecast period of 2024 to 2031.
Report Scope and Market Segmentation
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Attributes
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Crypto Asset Management Key Market Insights
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Segmentation
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Key Market Players
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Coinbase (U.S.), Gemini Trust Company, LLC. (U.S.), Crypto Finance Group (Germany), Vo1t Ltd (U.K.), Bakkt (U.S.), BitGo (U.S.), Ledger SAS (France), METACO (Switzerland), ICONOMI Limited (U.K.), Exodus Movement, Inc. (U.S.), Xapo Holdings Limited (Switzerland), Paxos Trust Company, LLC. (U.S.), TheBanks.eu (England), Amberdata (U.S.), Genesis Global Trading, Inc. (U.S.), CRYPTOSLATE (U.S.), Opus Labs CVBA (Belgium), Kryptographe Inc (U.K.)
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Market Opportunities
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Crypto Asset Management Market Definition
Crypto asset management is the process of managing digital assets to deliver competent service while employing a distributed electronic ledger network. Instead of using separate wallets for each type of cryptocurrency, crypto asset management tools make it simpler to handle all crypto wallet addresses in one platform. Crypto asset management market expansion is being driven by the expanding cryptocurrency sector and the rising adoption of cryptocurrencies as a mode of payment.
Crypto Asset Management Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- Propagation of Blockchain Technology
The blockchain revolution has accelerated the commercial expansion of cryptocurrencies. High-level security for digital assets and cryptocurrencies could be offered through blockchain. Users can approve transactions using blockchain without seeking approval from centralized authority. Blockchain has many applications, including voting, smart contracts, and money exchange. Every industry offers a variety of use cases and application areas for blockchain. Blockchain, in a nutshell, is a decentralized digital ledger that stores and preserves transactional data over a peer-to-peer network. Since they were the initial use case for a blockchain application, cryptocurrencies have fundamentally altered how companies approach digital assets. The idea of using blockchain to move and store cryptocurrencies and other digital assets via the internet environment is being investigated by financial institutions. The expansion of cryptocurrencies is being fueled by the accessibility of blockchain technology, which will tangentially boost demand for crypto asset management solutions. Financial stakeholders have been obliged to deploy crypto asset management solutions due to enterprises' increased use of cryptocurrencies.
- Adoption of Cryptocurrency across Verticals
In developed nations, cryptocurrency usage has increased dramatically as consumers and businesses are benefiting from the remarkable growth of the bitcoin market. The leaders in implementing cryptocurrency for trading and exchange are financial institutions. Organizations are using this new technology in their business dealings due to its variety of characteristics. The biggest financial organizations in the world are currently trading and exchanging currencies using cryptocurrencies. The benefits of cryptocurrencies and blockchain, which are impacting various industries, including BFSI, government, retail and ecommerce, and media and entertainment, are the subject of numerous projects being conducted worldwide. Digital assets are anticipated to be used across a wide range of industries, including media, entertainment, healthcare, and government. In a nutshell, the adoption of crypto asset management solutions will be further fueled during the projected period by the existing and future developments in cryptocurrencies, digital assets, and blockchain technology.
Furthermore, factors such as growing investments in crypto-currencies, expansion of the internet, and the growth in venture capital investments will accelerate the overall market expansion during the forecast period. Additionally, the growing awareness regarding the crypto assets and the global shift toward digital currency are anticipated to drive the growth rate of the crypto asset management market. The high remittances in developing countries will further positively impact the market's growth rate during the forecast period.
Opportunities
- Surging need to secure Cryptocurrency Assets
The application of machine learning and the internet of things is estimated to generate lucrative opportunities for the market, which will further expand the crypto asset management market's growth rate in the future. The key aim for market players is to develop and increase the sensitivity of crypto asset managements. Consequently, it is anticipated that the market players will benefit from the integration of IoT sensors to detect shock waves.
- Increased Understanding Of the Potential Of Digital Currencies
The use of bitcoin increased during the epidemic as individual investors and large corporations realized the possibilities of digital currencies. This factor has further generated numerous growth opportunities within the market. Numerous new cryptocurrencies have emerged in recent years, advancing the worldwide crypto asset management industry. Moreover, due to the worldwide economic downturn, many people lost their employment, and many of them started investing in cryptocurrencies to augment their income. New professions have also emerged in this field, with some people choosing to work as traders, technical analysts, and crypto influencers. Individual investors have been drawn to invest in crypto assets, which has fueled the global market growth for crypto asset management.
Restraints/Challenges
- Dearth of Awareness and Knowledge regarding Cryptocurrencies
The lack of knowledge about use cases and the inadequate technical comprehension of transaction procedures are the main barriers to the adoption of cryptocurrencies. End customers in the majority of industries are unaware of the advantages of cryptocurrencies and don't fully comprehend how they operate. Cryptographic techniques are used in cryptocurrency and are distributed throughout a huge network of separate computers. Therefore, exploring the advantages of cryptocurrencies in use cases requires a solid technical understanding of the underlying technology. One of the major barriers to the adoption of cryptocurrencies is a lack of education and public awareness.
- Lack of Regulatory Framework
The legal criteria for savvy investors have become more and more important to understand as bitcoin investment has risen in prominence. Cryptocurrencies are decentralized since they are not backed by a single entity, which may be both a benefit and a risk for investors. The decentralized nature of cryptocurrencies makes fraud more likely, and victims who are investors do not have the same legal recourse as victims of conventional fraud. This factor would create significant challenges for the crypto asset management market over the forecast period.
This crypto asset management market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the crypto asset management market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Crypto Asset Management Market
The crypto asset management market was positively influenced by the outbreak of COVID-19, due to numerous government, public, and other organizations embracing a work from home culture for their employees. Additionally, pandemic has increased the demand for cloud-based crypto asset management and pushed the drive toward deeper digitization. Additionally, the flexibility, scalability, and operational resilience that crypto asset management offers to both institutions and individuals enables banks to offer cost-effective crypto financial services like crypto transactions, crypto exchange, live rate conversions, and various others that are driving the market during the COVID-19 pandemic. To secure scalable, resilient, available, and agile IT operations to be most effective in the crypto services during the COVID-19 pandemic, the majority of financial firms are also quickly embracing cloud services with the government's approval.
Crypto Asset Management Market Scope
The crypto asset management market is segmented on the basis of solution, deployment, mobile operating system, application, end user and enterprise vertical. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Solution
- Custodian Solution
- Wallet Management
Deployment
- Cloud
- On-Premises
Mobile Operating System
- iOS
- Android
Application
- Web-Based
- Mobile
End User
- Individual
- Enterprise
Enterprise Vertical
- Institutions
- Retail and E-Commerce
- Healthcare
- Travel and Hospitality
- Others
Crypto Asset Management Market Regional Analysis
The crypto asset management market is analyzed and market size insights and trends are provided by country, solution, deployment, mobile operating system, application, end user and enterprise vertical as referenced above.
The countries covered in the crypto asset management market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Europe dominates the crypto asset management market because of the increasing interest in cryptocurrencies and growing acceptance of cryptocurrency payments within the region over the forecast period of 2024 to 2031. Moreover, the emerging fintech organizations is further estimated to accelerate the expansion over the forecast period.
Asia-Pacific is expected to witness significant growth during the forecast period of 2024 to 2031 due to surging demand for crypto asset management solutions coupled with favorable business policies within the region. India is most likely to experience the APAC region's fastest growth due to its emphasis on digital asset projects. The countries of Southeast Asia, China, India, and Japan are the main drivers of the fastest growth.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Crypto Asset Management Market Share
The crypto asset management market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to crypto asset management market.
Crypto Asset Management Market Leaders Operating in the Market Are:
- Coinbase (U.S.)
- Gemini Trust Company, LLC. (U.S.)
- Crypto Finance Group (Germany)
- Vo1t Ltd (U.K.)
- Bakkt (U.S.)
- BitGo (U.S.)
- Ledger SAS (France)
- METACO (Switzerland)
- ICONOMI Limited (U.K.)
- Exodus Movement, Inc. (U.S.)
- Xapo Holdings Limited (Switzerland)
- Paxos Trust Company, LLC. (U.S.)
- TheBanks.eu (England)
- Amberdata (U.S.)
- Genesis Global Trading, Inc. (U.S.)
- CRYPTOSLATE (U.S.)
- Opus Labs CVBA (Belgium)
- Kryptographe Inc (U.K.)
Latest Developments in Crypto Asset Management Market
- In March 2021, Gemini Fund Solutions, a full suite of cryptocurrency fund services for fund managers, was introduced by Gemini Trust Company, LLC. On a single platform, the system provides clearing, custody, trade execution, and other capital markets services.
- In May 2020, BitGo, Inc. introduced institutional trading services for cryptocurrencies through its new company BitGo Prime. The traditional trading platforms, including hedge funds, fiduciaries, asset managers, and fund managers, will support cryptocurrencies.
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