High remittances in developing countries and growth in venture capital investments to magnify growth in the global Crypto Asset Management Market
Covid-19 Impact & Market Status
The report offers an exhaustive overview of the business dynamics and new investment strategies that are being adopted by business leaders across countries and regions to overcome the acute challenges and financial instabilities that have emerged in the post pandemic times.
The report highlights some of the best industry strategies and practices that are adopted by the players across local and global markets. Ever since the Covid-19 broke out in 2019, it has spread aggressively, resulting in rapid declaration by the WHO affirming Covid-19 as a global pandemic and an emergency.
The impact of the pandemic is widespread and the aftermath is well pronounced, gravely affecting the global crypto asset management market. The sudden pandemic and its implications have posed significant challenges such as travel bans, quarantines, and lockdowns.
These developments are hampering operations resulting in supply chain breaches, stock market inefficiencies, and vendor chaos. These are constantly interfering with the normal functioning of industries.
Ever since the outbreak of the global crisis, impact on upstream, downstream, and midstream industries have been appalling. The report delivers a quick ready-to-deploy approach to counter such crisis and steer the global crypto asset management market towards steady growth and systematic progression.
Amidst the pandemic, aligning with new dynamics, global crypto asset management market has been witnessing new dynamics which are further necessitating new business models and approaches to recoup growth and revenue streams.
In this report, inquisitive business players would be provided with sufficient guidelines regarding business transformation, integral to sustain stiffening competition in the pandemic and beyond pandemic era global crypto asset management market.
Crypto Asset Management for Wallet Services to Sustain the Highest Revenues
Wallet management solution enables businesses to secure their digital assets and streamline business operations. Asset manager and small financial institutions mainly use the solution. The adoption of cryptocurrency is growing across large as well as small financial institutions. The demand for wallet management solution is expected to increase during the forecast period.
Retail vertical to Generate More Revenue
The retail vertical functions in an environment that is relatively diversified as compared to other verticals. They are highly tech-savvy in terms of the adoption of advanced technologies and cryptocurrency is not the exception. The retail and eCommerce application area are an associated global network of suppliers, retailers, eCommerce portals, and customers interacting in physical stores, as well as digital online channels. The retail and eCommerce application area faces steep challenges in the form of limited supply visibility that leads to instability, increasing customer demand for product authenticity, and high transaction fees from third-party payment processors.
APAC to Sweep the Largest Revenue Streams
The APAC region is expected to provide significant growth opportunities for vendors operating in the cryptocurrency management market during the forecast period. Rapid advancements in the network infrastructure, cloud computing, economic growth, and stable geopolitical system have provided a platform for the growth of solution providers in the APAC region.
North America is an early technological adaptor having significant adoption of blockchain in end-user industries. The early adoption of advanced technologies and digitization is expected to fuel the growth of the crypto asset management market in the region. In June 2020, BitPay, the blockchain payments provider, launched the BitPay Card, the first Mastercard Prepaid card for crypto users in the United States.
Safeguarding cryptocurrency assets and proliferation of blockchain technology to offer new opportunities in the global Crypto Asset Management market
Crypto asset management refers to as a platform that assists in enabling investor to invest and manage the digital assets and crypto currencies. These platforms are utilized to prevent theft of cryptocurrencies and keep the fund safe. These management platforms are known to offer various features such as back-up of storage wallet, control and flexibility over the transactions and proper record of virtual assets through block chain among others.
Despite a minor growth dip owing to Covid-19 implications, the global Crypto Asset Management market is expected to recoup growth and register over USD 1.2 billion by 2028 ticking at a CAGR of 21.5%.
Further, increase in investment and adoption of cryptocurrency and growth in digitalization in financial organization and large companies boost the growth of the global crypto asset management market. In addition, simplifying the process of purchasing cryptocurrency positively impacts the crypto asset management market growth are expected to ravel new growth opportunities in the global crypto asset management market during the forecast period.
Increase in investment among the cryptocurrency technology by the individual as it offers several benefits, which include offering hassle-free currency transaction service, reducing the brokerage fees & middle man commission, and improving the security of business owner’s financial details drives the growth of the crypto asset management market globally.
Forward-looking players in the global crypto asset managementmarket are furthering investments towards developing advanced crypto asset management.The rise of concerns regarding the performance varying across cryptocurrency exchanges, technical problems with scalability, and issues with security, privacy and control are projected to challenge the crypto asset management market in the forecast period of 2021 to 2028.
Many verticals such as retail and eCommerce, media and entertainment, healthcare, and government are expected to utilize digital assets for various use cases. Nowadays, many large enterprises, banks, and financial institutes are investing heavily to safeguard their digital assets. In a nutshell, the current and future trends in cryptocurrency, digital assets, and blockchain technology would further fuel the adoption of crypto asset management solutions during the forecast period.
The increasing adoption of digital processes and frameworks by numerous industries, the emergence of crypto currency as the financial counterpart of digital networks and the transaction of funds done in the form of digital assets that have been developed with the help of strong cryptography techniques and popularity of the platform for financial security accelerate the Crypto Asset Management market growth.
Additionally, proliferation of blockchain technology, surge in capital investments and safeguarding cryptocurrency assets positively affect the crypto asset management market. Furthermore, crypto asset management providing new investment, high usage of cryptocurrency across verticals and emerging economies extend profitable opportunities to the Crypto Asset Management market players in the forecast period of 2021 to 2028.
The major players of the global crypto asset management market are Coinbase, Inc., Gemini Trust Company, LLC, Crypto Finance AG, Vo1t Ltd, Bakkt, LLC, BitGo, Inc., Ledger SA, METACO SA, Iconomi Ltd., and EXODUS MOVEMENT, INC.
The crypto asset management market is a rapidly progressing industry and is characterized to have industrial frontliners as well as aspiring new players aiming to penetrate into the aggressive competitive landscape across global and local markets. Additionally, various new and aspiring players are improving their product lines and upgrading technological capabilities to improve revenue streams amidst Covid-19 impact.
Latest Innovations in the Global Crypto Asset Management Market: a Snapshot
- In April 2020, Coinbase partnered with Oobit to provide a crypto wallet, custodial services, and escrow for the users of Oobits’ new product, which is known as Oobit Hunter.
- In April 2020, BitGo acquired Lumina, a provider of software solutions that offer digital asset dealers a financial platform that accelerates the mass adoption of digital assets by bridging the gap between traditional finance and crypto.
- In March 2020, Gemini partnered with Itviti to enable cryptocurrency holders to trade through Itiviti's NYFIX.
- In March 2020, Bakkt acquired certain assets of Rosenthal Collins Group, an independent futures commission merchant.
- In January 2020, Blox and Origin Protocol Collaborate to Introduce Crypto Finance Tools for Decentralized Marketplace Businesses.
Crypto Asset Management Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1.2 billion|
|Growth Rate||CAGR of 21.5% during 2021-2028|
|Segment Covered||Solution, Application Type, Vertical, Regions|
|Regions Covered||North America, Europe, Asia Pacific, RoW|
|Key Players Profiled||Coinbase, Inc., Gemini Trust Company, LLC, Crypto Finance AG, Vo1t Ltd, Bakkt, LLC, BitGo, Inc., Ledger SA, METACO SA, Iconomi Ltd., and EXODUS MOVEMENT, INC.|
Key Segments of the Global Crypto Asset Management Market
Solution Overview, 2018-2028 (USD Billion)
Application Type Overview, 2018-2028 (USD Billion)
- Web Based
- Mobile Based
Vertical Overview, 2018-2028 (USD Billion)
- Hedge Funds
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Australia & New Zealand
- Rest of APAC
- The Middle East & Africa
- South America