CHICAGO, June 11, 2020 /PRNewswire/ -- According to the new market research report "Crypto Asset Management Market by Solution (Custodian and Wallets), Application Type (Web-based and Mobile), End user (Individual and Enterprise (Institutions (BFSI, Hedge Funds), Retail and eCommerce)), Region - Global Forecast to 2025", published by MarketsandMarkets™, the global Crypto Asset Management Market size is projected to grow from USD 0.4 billion in 2020 to USD 1.1 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 23.8% during the forecast period.
The increasing venture capital funding and growing investments in crypto asset management technology are expected to enhance the use of crypto asset management solutions across the globe.
Based on application type, the mobile segment to grow at the highest CAGR during the forecast period
Nowadays, several mobile apps are created for exchanging cryptocurrencies that can make things easier for asset traders and miners. Various stock market apps came into being featuring cryptocurrency apps, and these types of apps not only allow them to have total control over the digital assets, but one can also trade with them. Therefore, the mobile segment holds the highest growth rate during the forecast period.
Based on end user, the individual user segment to hold higher market share during the forecast period
With a rise in the cryptocurrency users across the globe, the potential customer base for crypto asset management solutions has also increased. Individual users use mobile phones primarily for entertainment and utility purposes. Many individual users opt for crypto asset management solutions that drive the Crypto Asset Management Market, which makes it attractive for the crypto asset management providers to offer advanced solutions to the individual user segment.
Among regions, North America to hold the highest market share during the forecast period.
North America has the presence of several prominent market players delivering crypto asset management solutions to all end users in the region. The US and Canada both have strong economic conditions and are expected to be the major contributors to the growth of the Crypto Asset Management Market. The geographical presence, significant Research and Development (R&D) activities, partnerships, and acquisitions and mergers are the major factors for the deployment of crypto asset management and services. The major vendors, such as Coinbase, Crypto Finance, Gemini, and BitGo, offer enhanced crypto asset management solutions to cater to the needs of customers, which fuels the growth of the global Crypto Asset Management Market in North America.
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