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The growth in crypto currency industry is the major growth driver for the global crypto asset management market
The global crypto asset management market size is expected to grow from USD 94 million in 2018 to USD 207 million by 2023, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period during the forecast period. The major growth drivers for the market include the need to safeguard crypto currency assets, the growth in the crypto currency market, the rising dependence on crypto currency, and the proliferation of the block chain technology. However, the lack of regulatory frame works may restrain the market from growing.
On-premises deployment type is estimated to constitute a larger market size during the forecast period
The on-premises deployment is witnessed a high demand and is a popular deployment type among end-users. Crypto asset management solutions are available as a platform and standalone form, and are mostly deployed in end-users’ premises. The solution providers have a full control over the infrastructure, software, hardware, data, maintenance, and the support they deliver. All the operational activities, such as setup, configuration, maintenance, and deployment of the solution, are handled locally on the end-user's premises. The cost of crypto asset management solution is high. Therefore, end-users are looking for cost-effective options while installing crypto asset management solutions on their premises.
Among end-users, the institution segment is expected to grow at the highest CAGR during the forecast period
On the basis of end-users, the institutions segment is expected to hold the largest market size in the crypto asset management market during the forecast period. The institutional clients include financial firms, hedge fund providers, investment firms, and brokerage firms. Cryptocurrency has been widely accepted by institutional clients across the globe. Financial firms are expected to integrate digital currency with their traditional banking systems. Crypto currencies offer several benefits to institutional clients, and the benefits include higher security, decentralized approach, borderless transaction settlement, and faster payment system. Such benefits are the reason why institutional clients are the major contributors to the growth of the crypto asset management market. The financial firms are adopting crypto asset management solutions for safeguarding their crypto assets and streamlining the exchange and trading process.
Europe is estimated to grow at the highest CAGR during the forecast period
Europe is expected to provide significant growth opportunities for the crypto asset management vendors during the forecast period. The region demonstrates a combination of high growth, developing economies, and mass adoption of digital currencies, such as Ethereum, Bitcoin, and Ripple. Despite being highly regulated, the adoption of cryptocurrencies among banks, hedge funds, and investment firms in the EU are growing. Moreover, institutions are planning to integrate cryptocurrencies into the traditional banking services. Leading financial firms see cryptocurrencies as investment opportunities. Hence, institutions are implementing crypto asset management solutions to safeguard their digital assets. Europe is expected to witness an upward trend of investments in the custodian and wallet management solutions that could fuel the growth of the crypto asset management market.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the crypto asset management market.
The break down of the profiles of the primary participants is given below:
- By Company: Tier 1 – 35%, Tier 2 – 39%, and Tier 3 – 26%
- By Designation: C-Level Executives – 65%, Managers – 35%
- By Region: North America – 38%, Europe – 40%, APAC – 21%, and RoW–1%
The report profiles the following key vendors in the global crypto asset management market that include Altairian Capital (UK), BitGo (US), Coinbase (US), Crypto Finance AG (Switzerland), Digital Asset Custody Company (US), Exodus Movement, Gemini (US), ICONOMI (SIovenia), itBit (US), Koine Finance (UK), Ledger (France), Metaco SA (Switzerland),Vo1t (UK), and Xapo (US).
Research coverage
The report segments the global crypto asset management market by platform, deployment type, end-user, and region. It has a detailed analysis of the key industry players to provide insights into their business overviews; services; key strategies; new service launches; partnerships, agreements, and collaborations; expansions; and the competitive landscape associated with the global crypto asset management market.
Reasons to buy the report
The report would help the market leaders/new entrants in the following ways:
- It comprehensively segments the crypto asset management market and provides the closest approximations of the revenue numbers for the overall market and its sub segments across major regions.
- It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities.
- It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.