Global Cryptocurrency Mining Hardware Market 2023-2027
Technavio has been monitoring the cryptocurrency mining hardware market and it is poised to grow by $12053.16 mn during 2023-2027, accelerating at a CAGR of 11.35% during the forecast period. Our report on the cryptocurrency mining hardware market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by the profitability of cryptocurrency mining ventures, the growing demand for cryptocurrency-specific hardware, and the rising popularity of mining pools.
Technavio's cryptocurrency mining hardware market is segmented as below:
- Bitcoin mining
- Ethereum mining
By Geographical Landscape
- North America
- South America
- Middle East and Africa
This study identifies the acceptance of cryptocurrency by retailers as one of the prime reasons driving the cryptocurrency mining hardware market growth during the next few years. Also, investments by large semiconductor companies in mining-specific hardware and people's inclination toward digital currency will lead to sizable demand in the market.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the cryptocurrency mining hardware market covers the following areas:
- Cryptocurrency mining hardware market sizing
- Cryptocurrency mining hardware market forecast
- Cryptocurrency mining hardware market industry analysis
Technavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cryptocurrency mining hardware market vendors that include Argo Blockchain Plc, BIT Digital Inc., Bitfarms Ltd., BitMain Group, Canaan Inc., Ebang International Holdings Inc., Elite Mining Inc., ePIC Blockchain Technologies Inc., Genesis Mining Ltd., GMO Internet Group Inc., Helium Systems Inc., HIVE Blockchain Technologies Ltd., Hut 8 Mining Corp., Intelion Mine LLC, Marathon Digital Holdings Inc., NiceHash Ltd., Riot Blockchain Inc., Shenzhen Fusionsilicon Semiconductor Co. Ltd., Shenzhen Jingang Zhuoyue Co., Ltd, Shenzhen MicroBT Electronics Technology Co. Ltd, and Spondoolies Ltd. Also, the cryptocurrency mining hardware market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.