|
Laxman Pai, Opalesque Asia: The global crypto asset management market is expected to grow from $94m in 2018 to $207m by 2023, at a compound annual growth rate (CAGR) of 17.1% during the forecast period, said a study.
The major growth drivers for the market include the need for safeguarding crypto currency assets, the growth in cryptocurrency market, and the proliferation of blockchain technology, said the study market research report 'Crypto Asset Management Market - Global Forecast to 2023' by MarketsandMarkets.
In terms of deployment type, the cloud-based sector is expected to show a higher growth rate during the forecast period driven by increased flexibility, scalability, affordability, operational efficiencies, and low overall costs.
"The overall adoption of cloud-based solutions is in the introductory phase and is expected to increase during the forecast period, due to the wide range of functionalities and core features the solutions provide," said the report.
When it comes to end-users, the report predicts that the institutions segment will grow at the highest CAGR during the forecast period. Financial firms are expected to integrate digital currency in their traditional banking system.
The report says that cryptocurrencies offer several benefits to institutional clients, including higher security, a decentralised approach, borderless transaction settlement, and faster payment systems.
North America is expected to hold the lar...................... To view our full article Click here
|
RSS
