NEW YORK, Might 4, 2021 /PRNewswire/ — The worldwide cryptocurrency mining {hardware} market by product (ASIC and GPU) and Geography (APAC, North America, Europe, South America, and MEA) has been added to Technavio’s providing. The worldwide cryptocurrency mining {hardware} market is anticipated to develop by USD 2.80 billion, at a CAGR of over 7% throughout 2020-2024.
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The COVID-19 pandemic has led to an unsure value situation for cryptocurrency. The necessity for individuals to self-isolate, quarantine measures, and different restrictions have led to much less involvement by individuals in mining farms. This led to the postponement of a number of cryptocurrency-related occasions. Nevertheless, some authorities organizations have lately proposed new laws to attenuate the damaging impression of COVID-19 on the cryptocurrency market. For example, in March 2020, the Arizona State Authorities within the US launched the Cryptocurrency Act of 2020, which determines the regulation of crypto property by completely different federal businesses. Such initiatives are anticipated to attenuate the damaging impression of COVID-19 in the marketplace.
The market is anticipated to be pushed by components such because the rising recognition of mining swimming pools, rising variety of product launches, and the rising demand for cryptocurrency-specific {hardware}.
The report additionally presents info on the upcoming tendencies and challenges that can affect market development.
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Cryptocurrency Mining {Hardware} Market: Alternatives
Governments in developed areas such because the US and Canada have allowed their residents to make use of cryptocurrencies for numerous functions, together with fee of property taxes. As well as, rising investments by distributors to develop their operations throughout geographies is anticipated to supply a number of development alternatives available in the market throughout the forecast interval.
Cryptocurrency Mining {Hardware} Market: Segmentation by Product
Based mostly on the segmentation by product, the market generated most income within the ASIC phase in 2019. The phase is pushed by the proliferation of retail shops that can promote ASIC mining {hardware} options. The market development within the phase will probably be important throughout the forecast interval.
Cryptocurrency Mining {Hardware} Market: Segmentation by Geography
APAC held the biggest market share in 2019 and the market development within the area is anticipated to be quicker in comparison with the expansion of the market in different areas. The expansion of the market in APAC might be attributed to the rising investments by distributors for cryptocurrency mining amenities in nations corresponding to China. Additionally, the acceptance of Bitcoin and different cryptocurrencies as fee choices by retailers in China will contribute to the expansion of the cryptocurrency mining {hardware} market in APAC throughout the forecast interval.
One of many fortune 500 corporations had used the detailed analysis report on the cryptocurrency mining {hardware} market and had determined to extend their market share within the APAC area which presents the best market alternatives throughout the forecast interval.
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Cryptocurrency Mining {Hardware} Market: Main Distributors
Superior Micro Gadgets Inc.
The corporate presents computing platforms, that are a group of applied sciences designed to work collectively to offer an entire computing answer and to allow and advance the computing elements. The corporate presents {hardware} underneath numerous classes corresponding to Radeon RX Vega Collection, Radeon RX 500 Collection, and Radeon RX 400 Collection.
ASICminer Co.
The corporate is engaged within the design and improvement of bitcoin mining options. ASICminer 8 Nano S and ASICminer Zeon Turbo are among the many cryptocurrency mining {hardware} provided by the corporate.
Baikal Miner
The corporate is engaged within the design and improvement of varied varieties of tools used for cryptocurrency mining. BK-G28, BK-N70, BK-B, and BK-D are among the variants of cryptocurrency mining {hardware} provided by the corporate.
Bitfury Group Ltd.
The presents blockchain-as-a-service options designed to assist governments and corporations combine blockchain into their operations. The corporate presents Bitfury Tardis which presents a efficiency of as much as 80 tera hashes per second.
BitMain Applied sciences Holding Co.
The corporate designs, manufactures, and sells cryptocurrency mining {hardware} and tools. Antminer S17, Antminer S11, and Antminer T15 are among the variants of cryptocurrency mining {hardware} provided by the corporate.
Together with the market knowledge, Technavio presents customizations as per the precise wants of corporations. The next customization choices can be found for the cryptocurrency mining {hardware} market report:
Regional Evaluation
Market Participant Data
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Detailed evaluation and profiling of extra market gamers, vendor segmentation, and vendor choices.
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Know the methods adopted by distributors throughout the COVID-19 Restoration Part
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Government Abstract
Market Panorama
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Market ecosystem
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Worth chain evaluation
Market Sizing
5 Forces Evaluation
Market Segmentation by Product
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Market segments
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Comparability by Product
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ASIC – Market measurement and forecast 2019-2024
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GPU – Market measurement and forecast 2019-2024
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Market alternative by Product
Buyer panorama
Geographic Panorama
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Geographic segmentation
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Geographic comparability
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APAC – Market measurement and forecast 2019-2024
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North America – Market measurement and forecast 2019-2024
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Europe – Market measurement and forecast 2019-2024
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South America – Market measurement and forecast 2019-2024
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MEA – Market measurement and forecast 2019-2024
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Key main nations
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Market alternative by geography
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Market drivers – Demand led development
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Market challenges
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Market tendencies
Vendor Panorama
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Vendor panorama
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Panorama disruption
Vendor Evaluation
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Distributors coated
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Market positioning of distributors
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Superior Micro Gadgets Inc.
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ASICminer Co.
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Baikal Miner
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Bitfury Group Ltd.
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BitMain Applied sciences Holding Co.
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Canaan Inc.
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Cynosure Applied sciences Co. Ltd.
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Halong Mining
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INNOSILICON Expertise Ltd.
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Shenzhen MicroBT Electronics Expertise Co. Ltd.
Appendix
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