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The market dynamics of the Crypto Asset Management market reflect the transformative impact of digital assets on the financial landscape, as blockchain technology and cryptocurrencies gain widespread acceptance. Crypto asset management involves the professional management of digital assets, providing investors with tools and services to navigate the complexities of the cryptocurrency market. One of the primary drivers behind the growth of the Crypto Asset Management market is the increasing adoption of cryptocurrencies as an alternative investment class. While institutional and retail investors are fond of volatility, However, there is a need of complex management solutions that can navigate the uncertainties with which the crypto space is associated.
Institutionalization of the market is indeed the most important element to determine the dynamics of Crypto Asset Management. The value of cryptocurrency is recognized by traditional financial institutions. Therefore frequent demand for secure and compliant custody of crypto assets is growing. Institutional investors like hedge funds, family offices, and pensions managers, however, are more sophisticated and may prefer the professional products that offer regulatory compliances. It leads to the development of the crypto market, and platforms for the financial management of crypto assets are adjusting to meet the requirements and educated investors.
Regulatory developments greatly transform the market trajectory of Crypto Asset Management. The changing legal framework is both a challenge and a chance for the market. On a side, more regulatory clarity and compliance standards can set up trust among investors and grow institutional portfolio. In contrast to the question, however, questions of regulating might be a hardship for market players, making them hurrying to change adaptation requirements that can alter from time to time. In determining market movements, the crypto asset management platforms capacity to comply with and flow regulatory structures is vital.
Among major challenges, there are security considerations in the Crypto Asset Management market. Crypto asset management platforms must implement robust security measures to safeguard digital assets from theft, fraud, and unauthorized access. The development and integration of secure storage solutions, multi-signature wallets, and insurance coverage for digital assets are key aspects influencing investor confidence in the crypto asset management space.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Component, Deployment Mode, Application Type, End-User, and Region |
Crypto Asset Management Market Highlights:
Crypto Asset Management Market Overview
Crypto Asset Management Market Size was valued at USD 0.9 billion in 2021. The crypto asset management market industry is projected to grow from USD 1.12 Billion in 2022 to USD 5.53 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 25.5% during the forecast period (2022 - 2030). The increasing investments in crypto asset management technology, along with the rapid growth of blockchain technology, are the key market drivers.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Crypto Asset Management Market Trends
Growing need to secure cryptocurrency assets to drive market growth
An increasing number of companies are using bitcoin and other digital assets for investment purposes. As institutional interest in cryptocurrencies rises, organizations are increasingly investing in cryptocurrencies, resulting in the need to protect digital assets. Whether an organization has taken on exposure to digital assets, its ability to protect the private keys is critical. The cryptocurrency wallet holds the cryptographic keys needed to send, receive and claim ownership of a token or cryptocurrency on behalf of an owner. Digital assets require protection, especially considering future access needs or liquidity demands. The growth of the crypto-asset ecosystem and the massive adoption of crypto-assets by institutions and private individuals has enabled new operators to launch crypto asset-management services, which allow those players to access and use the crypto assets and safely store and use their funds.
Increase in investment among the cryptocurrency technology by the individual as it offers several benefits, which include offering hassle-free currency transaction service, reducing the brokerage fees & middle man commission, and improving the security of business owner’s financial details drives the growth of the crypto asset management market globally. In addition, availability of high-speed internet connectivity has been helping business to exchange the cryptocurrency immediately and securely through the crypt asset management platform, which drives the growth of the market revenue.
Furthermore, crypto asset management technology allows merchant to transfer the cross-border payment and lowers the transaction charges, interest rate, and currency exchange fees. These factors positively impact the adopting cryptocurrency among the businesses and individuals, which drives the growth of market globally.
Crypto Asset Management Market Segment Insights
Crypto Asset Management Component Insights
Based on the component, the global crypto asset management market segmentation includes solutions and services. The solutions segment held the majority share in 2021, accounting for approximately 55-58% of the global crypto asset management market revenue. Wallet management solution enables businesses to secure their digital assets and streamline business operations. Asset manager and small financial institutions mainly use the solution. The adoption of cryptocurrency is growing across large as well as small financial institutions. The demand for wallet management solution is expected to increase during the forecast period. Hence, crypto asset solution providers can tap new opportunities in the crypto asset management market revenue.
Crypto Asset Management Deployment Mode Insights
Based on deployment mode, the global crypto asset management market segment includes cloud and on-premises. On-premises dominated the global market in 2021 and is expected to be the fastest-growing segment during the forecast period of 2022-2030, as on-premise deployment mode is considered widely useful in large enterprises as software can be implemented on IT infrastructure of a company itself and it provides more security as compared to cloud. Crypto asset management solutions are available as a platform and standalone form, and are generally deployed in end-user premises. The solution providers have a full control done the infrastructure, software, hardware, data, maintenance, and the support they deliver. All the operational activities, for instance setup, configuration, maintenance, and deployment of the solution, are handled locally on the end-user’s premises.
However, the cloud segment is expected to witness highest growth, owing to a paradigm shift in deployment methods from on-premise to cloud-based models. This is the major factor that propels the adoption of cloud-based crypto asset management among SMEs, individuals, and some large-scale organizations. In addition, leading market vendors of the crypto money management market have introduced strategies to help enterprises move their on-premise crypto asset management model to cloud-based models, which further fuels the growth of the segment.
Figure 1: Global Crypto Asset Management Market by Deployment, 2020 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Crypto Asset Management Application Type Insights
The global crypto asset management market segmentation, based on the application type, includes web-based and mobile. The mobile segment had the highest global market revenue share in 2021. Mobile apps created for exchanging cryptocurrencies can make things easier for asset traders and miners. Android is an open-source OS based on a modified version of the Linux kernel. Android is developed and maintained by Google and is an open-source. The growing preference of the Android OS among customers is expected to drive the market growth. The growing need for security solutions is also propelling the market growth. Also, the growing usage of smart phone across the globe is driving the market for mobile segment.
Crypto Asset Management End-User Insights
Based on the end-user, the global crypto asset management market segment includes individual user and enterprise. In 2021, the individual segment held the highest market revenue share. Rise in the cryptocurrency users and crypto asset management solutions across the globe is driving the market growth for crypto asset management. Adoption of digital transactions among individuals and growing usage of smart phones is also driving the market growth. Electronic wallet apps tend to store the digital assets and money allowing the user to spend on transactions involving the blockchain technology.
Crypto Asset Management Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American crypto asset management market is anticipated to expand at a significant CAGR during the study period, accounting for USD 0.388 billion in 2021. This is attributed to number of factors such as penetration of new industries and improvement in economy. The introduction and early adoption of the solution are driving the market opportunities in the region. Also, the region has several prominent players offering dedicated solutions across the industry vertical. In addition, presence of large number of cloud crypto solution vendors across the U.S. and Canada is expected to provide lucrative opportunities for the market. In June 2020, BitPay, the blockchain payments provider, launched the BitPay Card, the first Mastercard Prepaid card for crypto users in the United States.
Moreover, the major countries covered in the market report include the United States, Germany, Canada, France, the United Kingdom, Italy, Spain, India, Japan, Australia, China, South Korea, and Brazil.
Figure2: Crypto Asset Management Market Share By Region 2022
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
The European crypto asset management market is the world's second-largest due to the increasing interest in cryptocurrencies and growing acceptance of cryptocurrency payments within the region. The rapidly growing banking and financial investment in the region are boosting the crypto asset management market. The region is also witnessing remarkable growth in blockchain application in the financial industry. This is expected to drive the adoption of crypto asset management solutions across European countries. Further, the German crypto asset management market held the largest market share, and the France crypto asset management market was the fastest-growing market in the European region.
The Asia Pacific crypto asset management market is expected to grow at the fastest rate of CAGR during the forecast period owing to wide presence of large number of crypto mining enterprises, which are turning toward hosted crypto asset management solutions to efficiently manage their business processes, particularly in developing countries such as China, India, and Singapore. The increasing digitalization, online transaction, boost in the economy among others are the factors further contributing to the growth of the market in the region. Rapid advancements in the network infrastructure, cloud computing, economic growth, and stable geopolitical system have provided a platform for the growth of solution providers in the region. The presence and use of digital currency significantly influence the financial system in the Asia Pacific markets. The growth of cryptocurrencies has attracted many large financial institutions to achieve greater business agility in the banking systems. Cryptocurrency, which is powered by blockchain technology, allows institutional clients to conduct transactions and exchanges, thus trading more quickly. Digital currency does not need any third-party intervention owing to its decentralized networks. Moreover, China’s crypto asset management market held the largest market share, and the Indian crypto asset management market was the fastest-growing market in the Asia-Pacific region.
Crypto Asset Management Key Market Players & Competitive Insights
The competitive landscape of the Crypto Asset Management Market is expected to gradually move towards fragmentation, owing to the increasing adoption of cryptocurrency across the globe. Also, the emergence of several small and medium-sized global players is expected to help the market grow. The existing market players are increasingly making new product launches or making several innovations in the market to boost their market presence.
BitGo Inc is an institutional digital asset financial services company that provides clients with security, custody, and liquidity solutions. Bitgo operates a security-as-a-service platform. The Company enables exchanges, marketplaces, and e-commerce players to facilitate secure and multi-party transactions. In May 2020, BitGo Inc introduced institutional trading services for cryptocurrencies through its new company BitGo Prime. The traditional trading platforms, including hedge funds, fiduciaries, asset managers, and fund managers, will support cryptocurrencies.
Key Companies in the crypto asset management market include
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Coinbase Inc (US)
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Crypto Finance AG (Germany)
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Genesis Global Trading Inc (US)
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Bakkt Holdings Inc (US)
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BitGo Inc (US)
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ICONOMI Limited (UK)
Crypto Asset Management Industry Developments
March 2021: Gemini Fund Solutions, a full suite of cryptocurrency fund services for fund managers, was introduced by Gemini Trust Company LLC. On a single platform, the system provides clearing, custody, trade execution, and other capital markets services.
April 2020: Coinbase partnered with Oobit to provide a crypto wallet, custodial services, and escrow for the users of Oobits’ new product, which is known as Oobit Hunter.
April 2020: BitGo acquired Lumina, a provider of software solutions that offer digital asset dealers a financial platform that accelerates the mass adoption of digital assets by bridging the gap between traditional finance and crypto.
March 2020: Gemini partnered with Itviti to enable cryptocurrency holders to trade through Itiviti's NYFIX.
Crypto Asset Management Market Segmentation
Crypto Asset Management Component Outlook
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Solutions
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Services
Crypto Asset Management Deployment Mode Outlook
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Cloud
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On-Premises
Crypto Asset Management Application Type Outlook
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Web-Based
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Mobile
Crypto Asset Management End-User Outlook
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Individual User
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Enterprise
Crypto Asset Management Regional Outlook
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North America
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US
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Canada
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Europe
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Germany
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France
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UK
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Italy
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Spain
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Australia
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Rest of Asia-Pacific
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Rest of the World
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Middle East
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Africa
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Latin America
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