LONDON–(BUSINESS WIRE)–Technavio has been monitoring the cryptocurrency mining hardware market and it is poised to grow by $ 2.80 bn during 2020-2024, progressing at a CAGR of 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advanced Micro Devices Inc., ASICminer Co., Baikal Miner, Bitfury Group Ltd., BitMain Technologies Holding Co., Canaan Inc., Cynosure Technologies Co. Ltd., Halong Mining, INNOSILICON Technology Ltd., and Shenzhen MicroBT Electronics Technology Co. Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Rising popularity of mining pools has been instrumental in driving the growth of the market. However, declining cost of mining hardware might hamper market growth.
Cryptocurrency Mining Hardware Market 2020-2024 : Segmentation
Cryptocurrency Mining Hardware Market is segmented as below:
- North America
- South America
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Cryptocurrency Mining Hardware Market 2020-2024 : Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our cryptocurrency mining hardware market report covers the following areas:
- Cryptocurrency Mining Hardware Market Size