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Global Cryptocurrency Mining Hardware Market 2019-2023

Global Cryptocurrency Mining Hardware Market 2019-2023

About this market

The increasing number of product launches are expected to trigger the market growth during the forecast period. Vendors are making significant investments in research and development for developing innovative technologies and new products. In addition, they are incorporating different technologies for increasing the hash rate and reducing power consumption for making mining more efficient. Such a rising number of product launches will boost the cryptocurrency mining hardware market during the forecast period. Technavio’s analysts have predicted that the cryptocurrency mining hardware market will register a CAGR of over 10% by 2023.

Market Overview

Growing demand for cryptocurrency-specific hardware

One of the growth drivers of the global cryptocurrency mining hardware market is the growing demand for cryptocurrency-specific hardware. This has led to the development of field-programmable gate array (FPGA) processors and ASICs that use hard-wired logic chipsets, which are specifically designed with hash-solving instructions.

High operational cost leading to low-profit margins

One of the challenges in the growth of the global cryptocurrency mining hardware market is the high operational cost leading to low-profit margins. The rise in the number of cryptocurrency startups closing their operations will affect the growth of the market during the forecast period.

For the detailed list of factors that will drive and challenge the growth of the cryptocurrency mining hardware market during 2019-2023, view our report.

Competitive Landscape

The market appears to be moderately fragmented with the presence of several market players. Vendors offering mobile-based payment solutions are investing in the market to launch smartphones that will enable users to mine cryptocurrencies. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.


Press Release

Technavio Announces the Publication of its Research Report – Global Cryptocurrency Mining Hardware Market 2019-2023

Technavio recognizes the following companies as the key players in the global cryptocurrency mining hardware market: Advanced Micro Devices, Inc, Baikal Miner, Bitfury Group Limited, BitMain Technologies Holding Company, and Canaan Creative CO., LTD.

Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is the trends in global cryptocurrency market affecting global cryptocurrency mining hardware market.”

According to the report, one of the major drivers for this market is the growing demand for cryptocurrency-specific hardware.

Further, the report states that one of the major factors hindering the growth of this market is the high operational cost leading to low-profit margins.

Companies Mentioned

Advanced Micro Devices, Inc
Baikal Miner
Bitfury Group Limited
BitMain Technologies Holding Company
Canaan Creative CO., LTD

  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global information technology (IT) hardware market
      • Table Segments of global information technology (IT) hardware market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2018
      • Table Market size 2018
    • Market size and forecast 2018-2023
      • Table Global market: Size and forecast 2018-2023 ($ millions)
      • Table Global market: Year-over-year growth 2019-2023 (%)
  • Five forces analysis
    • Table Five forces analysis 2018
    • Table Five forces analysis 2023
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2018
  • Market segmentation by product
    • Table Product - Market share 2018-2023 (%)
    • Comparison by product
      • Table Comparison by product
    • ASIC - Market size and forecast 2018-2023
      • Table ASIC - Market size and forecast 2018-2023 ($ millions)
      • Table ASIC mining hardware comparison
      • Table ASIC - Year-over-year growth 2019-2023 (%)
    • GPU - Market size and forecast 2018-2023
      • Table GPU - Market size and forecast 2018-2023 ($ millions)
      • Table GPU mining hardware comparison
      • Table GPU - Year-over-year growth 2019-2023 (%)
    • Parameters for selection of cryptocurrency mining hardware
      • Table Comparison of ASIC and GPU
    • Market opportunity by product
      • Table Market opportunity by product
  • Customer landscape
    • Table Customer landscape
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2018-2023 (%)
    • Geographic comparison
      • Table Geographic comparison
    • APAC - Market size and forecast 2018-2023
      • Table APAC - Market size and forecast 2018-2023 ($ millions)
      • Table APAC - Year-over-year growth 2019-2023 (%)
    • North America - Market size and forecast 2018-2023
      • Table North America - Market size and forecast 2018-2023 ($ millions)
      • Table North America - Year-over-year growth 2019-2023 (%)
    • Europe - Market size and forecast 2018-2023
      • Table Europe - Market size and forecast 2018-2023 ($ millions)
      • Table Europe - Year-over-year growth 2019-2023 (%)
    • South America - Market size and forecast 2018-2023
      • Table South America - Market size and forecast 2018-2023 ($ millions)
      • Table South America - Year-over-year growth 2019-2023 (%)
    • MEA - Market size and forecast 2018-2023
      • Table MEA - Market size and forecast 2018-2023 ($ millions)
      • Table MEA - Year-over-year growth 2019-2023 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Volatility in growth rate of value of Bitcoin in 2018 (%)
      • Table Volatility in growth rate of hash rate in 2018 (%)
      • Table Global Bitcoin energy consumption index in 2018 (TWh)
      • Table Impact of drivers and challenges
  • Market trends
    • Trends in global cryptocurrency market affecting global cryptocurrency mining hardware market
      • Table Cryptocurrency market capital
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Advanced Micro Devices, Inc
      • Table Advanced Micro Devices, Inc - Vendor overview
      • Table Advanced Micro Devices, Inc - Business segments
      • Table Advanced Micro Devices, Inc - Organizational developments
      • Table Advanced Micro Devices, Inc - Geographic focus
      • Table Advanced Micro Devices, Inc - Segment focus
      • Table Advanced Micro Devices, Inc - Key offerings
    • Baikal Miner
      • Table Baikal Miner - Vendor overview
      • Table Baikal Miner - Organizational developments
      • Table Baikal Miner - Key offerings
    • Bitfury Group Limited
      • Table Bitfury Group Limited - Vendor overview
      • Table Bitfury Group Limited - Product segments
      • Table Bitfury Group Limited - Organizational developments
      • Table Bitfury Group Limited - Key offerings
    • BitMain Technologies Holding Company
      • Table BitMain Technologies Holding Company - Vendor overview
      • Table BitMain Technologies Holding Company - Business segments
      • Table BitMain Technologies Holding Company - Organizational developments
      • Table BitMain Technologies Holding Company - Key offerings
    • Canaan Creative CO., LTD
      • Table Canaan Creative CO., LTD - Vendor overview
      • Table Canaan Creative CO., LTD - Organizational developments
      • Table Canaan Creative CO., LTD - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of vendor Positioning
      • Table Definition of vendor positioning
  • Explore Technavio

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