Dublin, Sept. 12, 2023 (GLOBE NEWSWIRE) — The “Crypto Asset Management Market Size & Share Analysis – Growth Trends & Forecasts (2023 – 2028)” report has been added to ResearchAndMarkets.com’s offering.
The global Crypto Asset Management Market is poised for significant growth, with projections indicating a rise from USD 1.10 billion in 2023 to USD 3.10 billion by 2028, representing a Compound Annual Growth Rate (CAGR) of 23.03% tone. This growth trajectory is mainly driven by the evolution of the asset management industry and increasing investments in crypto funds.
Driving Factors: Blockchain Technology and Institutional Investments
The advancement of blockchain technology has greatly increased interest in cryptocurrencies, fueling the demand for reliable investment options within the crypto market. Moreover, the rise of blockchain technology has opened doors for versatile applications in various industries, further fueling the demand for crypto asset management.
Furthermore, institutional investors and wealth managers are increasingly entering the cryptocurrency landscape, along with increasing consumer adoption. This adoption, along with developments in cryptocurrencies, digital assets and blockchain technology, is fueling the demand for crypto asset management platforms.
Technological enablers: AI/ML and security measures
Many asset management platforms now use Artificial Intelligence (AI) and Machine Learning (ML) programs to adjust portfolios based on user investment goals. These technologies also facilitate efficient management of a wide variety of assets. As the crypto industry gains popularity and new digital assets emerge, the demand for such platforms is expected to rise.
However, certain challenges need to be addressed. A lack of awareness, technical understanding, safety concerns and stringent regulatory landscapes across various countries can hamper the market’s growth potential.
Implications of COVID-19: Shifting Investment Preferences
The disruption caused by the COVID-19 pandemic in traditional investment scenarios has led to increased interest in the digital cryptocurrency space. Amid global economic upheaval, cryptocurrencies have attracted attention for their deflationary nature, offering an attractive option to counter economic disruptions. This shift to cryptocurrencies has driven the demand for cloud-based crypto asset management platforms and strengthened the drive towards digitization.
Market Trends and Segmentation: BFSI Sector and Regional Dominance
The banking, financial services and insurance (BFSI) sector is expected to hold a significant share of the crypto asset management market. The adoption of blockchain technology in the BFSI domain is expected to drive cryptocurrency investment. The BFSI sector’s foray into crypto-transactions and blockchain-driven solutions is further promoting the adoption of asset management platforms.
In the region, North America is predicted to dominate the market mainly due to the high adoption of cryptocurrencies in the United States and Canada. These countries’ dominance in Bitcoin and cryptocurrency adoption will significantly impact the global crypto asset management market.
Competitive Landscape: Innovations and Enterprises
The competitive landscape of the crypto asset management market is evolving, with various players entering the market and existing ones innovating to improve their offerings. For example, BlockTower launched a venture capital arm with a USD 150 million fund dedicated to decentralized finance (DeFi) and blockchain infrastructure projects. In addition, Blockchain.com launched Blockchain.com Asset Management (BCAM), a regulated investment platform, in collaboration with Altis Partners.
Market Dynamics: Opportunities and Challenges
While the adoption of blockchain technology across industries and the focus on cryptocurrency security is driving the market’s growth, the lack of a centralized regulatory framework and limited technical knowledge and awareness pose challenges.
Major players in the Crypto Asset Management market are
BitGo, Inc.Coinbase, Inc.Gemini Trust Company, LLCCipher Technologies Management LPMetaco SAAmberdata Inc.Paxos Trust Company, LLCCrypto Finance GroupBakktICONOMI Limited
For more information on this report visit https://www.researchandmarkets.com/r/thzsar
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Crypto Asset Management Market Number of Bitcoin BTC transactions per day on the blockchain in thousands December 2021 S
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