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Mubaz
by on July 22, 2023
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The Crypto Asset Management Market was estimated around USD 315 million in 2020 and is predicted to grow at a CAGR of 21.1%, over the forecast period (2021-2028).

The factors driving growth of the market includes rise in the number of institutional investors and wealth managers investing first time in crypto currency, surge in the volumes of online transactions around the world, emerging need to secure cryptocurrency assets, Government initiatives promoting digitalization and improvements in the living standards. Cryptocurrency asset management platforms allow investors to manage different wallets in one spot, simplifies the management of the developing crypto asset for seasoned traders, and helps users to increase their portfolio, are some of the features pushing the Crypto Asset Management Market size. Moreover, increasing adoption of cryptocurrency across industry verticals such as Healthcare, Retail and Commerce, BSFI, advancements in Internet of Things (IoT) and Artificial Intelligence, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major companies on research and development, strategic partnerships and collaborations between key industry players and growing population growth rates, are further contributing to the market growth.

However, growth of the Crypto Asset Management Market is hindered due to growing concerns related to privacy and security.

The major players operating in the market are Metaco, Iconomi Limited, Bakkt, BitGo, Inc, Ledger SAS, Xapo Holdings Limited, Coinbase, Inc, Gemini Trust Company, LLC, Crypto Finance AG, and Amberdata, Inc, among others.

Based on Vertical, the Retail and eCommerce segment is predicted to grow at a significant CAGR during the forecast period

Crypto asset management solutions are increasingly used in the retail and e-commerce industry because it requires less processing time, secures transactions and are cost-effective, are pushing growth of the segment.

Based on Deployment Mode, the On-premises segment is projected to expand at a robust CAGR over the forecast period

On-premises deployment offers remarkable benefits such as enhanced flexibility and scalability, provides vendor complete control over software and hardware, which are propelling segment’s growth.

Based on Region, the North American region is anticipated to hold the highest market share during the forecast period

Many companies are increasing  the use of cutting-edge technologies like Blockchain, Big Data Analytics, and Cloud Computing, as well as increased online transaction volumes across the United States, rapid industrialization, and high per capita incomes, are some of the key factors driving the market growth in North America.

 

Key Developments

  • In 2020 – BitGo, Inc., through its new entity BitGo Prime launched institutional trading services for cryptocurrency. The conventional trading services such as hedge funds, fiduciaries, asset managers, fund managers among others will be available for cryptocurrency.
  • In 2020, Bakkt completed the acquisition of certain assets of Rosenthal Collins Group, an independent futures commission merchant.
  • In 2020, Blox partnered with Origin Protocol to launch Crypto Finance Tools for Decentralized Marketplace Businesses.

 

 

Market Segmentation

Segmentation by Application Type

  • Web-based
  • Mobile app

Segmentation by Vertical

  • Healthcare
  • Retail and eCommerce
  • Travel and Hospitality
  • Institutions
  • Others

Segmentation by Deployment Mode

  • Cloud
  • On-premises

Segmentation by Solution

  • Custodian Solution
  • Wallet Management

Segmentation by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

 

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

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Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

 

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