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Subject: MRR

Cryptocurrency Mining Hardware Market to observe USD 2.82 Bn growth | 56% growth to emerge from APAC | Technavio


NEW YORK, May 26, 2022 /PRNewswire/ -- The global cryptocurrency mining hardware market size is expected to increase by USD 2.82 billion between 2020 and 2025. The market observed 4.07% YOY growth in 2021 and the growth momentum is expected to accelerate at a CAGR of 7.85% during the forecast period. APAC will register the maximum growth in terms of revenue generation. The rising investments by vendors for cryptocurrency mining facilities in countries such as China will be crucial in driving the growth of the regional market.

Download Our Sample Report for more highlights on the market size, growth momentum, YOY growth rates, and regional growth opportunities.

The global cryptocurrency mining hardware market is fragmented. The market includes a few international players and a considerable number of small-scale participants regionally. Key vendors are focusing on increasing their hash rates and trying to improve the efficiency of mining hardware. Vendors are also significantly investing in joint ventures and acquisitions to expand their presence in new regions.

The rising popularity of mining pools has been instrumental in driving the growth of the market. However, the declining cost of mining hardware might hamper the growth of market participants. Competitors have to focus on differentiating their product offerings with unique value propositions to strengthen their foothold in the market. Market vendors also have to leverage the existing growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd. are identified as some of the major market participants.

View Our Sample Report for more details on the vendor landscape.

Cryptocurrency Mining Hardware Market 2021-2025: Segmentation

The global cryptocurrency mining hardware market is segmented as below:

The ASIC segment will account for the largest share of the market. The segment is driven by increased product launches by market players.

About 56% of the overall market growth will originate from APAC during the forecast period. The increased acceptance of cryptocurrencies is increasing the demand for cryptocurrency mining hardware in the region. China is the key market for cryptocurrency mining hardware in APAC. Market growth in this region will be faster than the growth of the market in regions.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The cryptocurrency mining hardware market report covers the following areas:

Cryptocurrency Mining Hardware Market 2021-2025: Key Highlights

Related Reports:

Cryptocurrency Mining Hardware Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Accelerate at a CAGR of 7.85%

Market growth 2021-2025

USD 2.82 billion

Market structure

Fragmented

YoY growth (%)

4.07

Regional analysis

APAC, North America, Europe, South America, and MEA

Performing market contribution

APAC at 56%

Key consumer countries

China, US, Russian Federation, Canada, and Switzerland

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the 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.

Table of Contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Five Forces Analysis

5 Market Segmentation by Product

6 Customer landscape

7 Geographic Landscape

8 Drivers, Challenges, and Trends

9 Vendor Landscape

10 Vendor Analysis

11 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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 across 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.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio


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