According to Allied Market Research, the global cryptocurrency asset management market could more than tenfold by 2030.
According to a recent study published by Allied Market Research, the global crypto asset management market will be worth $9.36 billion by 2030. According to the market research and advisory firm, the total earned in 202 was $0.67 billion. It would be necessary to grow by $9.36 billion at a CAGR of 30.2 percent.
According to the study, the outbreak of COVID-19 will be the impetus for institutions and banks to adopt cloud-based crypto asset management. “The COVID-19 pandemic has hastened the adoption of cloud-based crypto asset management solutions by banks and fintech institutions in order to secure their systems and provide customers with scalable, resilient, and agile crypto services.” Furthermore, cloud-based crypto asset management provides individuals and businesses with increased flexibility as well as cost-effective solutions. According to the study, increased adoption of cloud-based crypto asset management solutions among banks and fintech firms will help to “secure their systems and provide customers with scalable, resilient, and agile crypto services.”
According to Allied Market Research, cloud-based crypto asset management offers consumers and businesses alike cost-effective and flexible solutions. “Demand for crypto asset management is expected to remain stable following the pandemic.”
Other issues are addressed by Allied Market Research.
The report goes on to discuss how the increase in digitalization in financial institutions and large corporations is another important aspect of growth. Additionally, the increase in crypto investments, as well as the further simplification of the process, is taken into account when predicting future growth.
One factor that is seen as impeding growth is a scarcity of skilled professionals. According to the study, the lack of these professionals, as well as the high implementation costs, will continue to stifle market growth. Allied Market Research, on the other hand, adds that “contrary to popular belief, untapped potential in emerging economies presents new opportunities in the coming years.”
The report also looks at the region by region, with North America having the largest share as of 2020. The United States contributed more than two-fifths of the total global market and is expected to maintain its dominance by 2030. Despite this, Asia-Pacific is expected to have the highest CAGR during the same period, at 33.5 percent.