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2021

Crypto Asset Management Market

Crypto Asset Management Market Size, Share, Competitive Landscape and Trend Analysis Report by Offering (Custodian Solution and Wallet Management), Deployment Mode (On-premises and Cloud), Application (Web-based and Mobile), and End User (Individual and Enterprises): Global Opportunity Analysis and Industry Forecast, 2021-2030

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Author's: Pramod Borasi| Vaibhav Modi | Vineet Kumar
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Crypto Asset Management Market Insights - 2030

The global crypto asset management market size was valued at $0.67 billion in 2020, and is projected to reach $9.36 billion by 2030, growing at a CAGR of 30.2% from 2021 to 2030. Crypto asset management are platforms that allow users to integrate diverse holdings in one platform. This allows investors to manage multiple wallets and accounts, in one place and provides advantages to improve user’s portfolio.

Furthermore, it makes life easier for newcomers and for experienced traders in managing the growing crypto asset. Moreover, crypto asset management tools ease the process of buying, trading, accounting, and spending your cryptocurrencies. In addition, growth in number of crypto currency platform across the globe is driving the growth of the market.

Global-Crypto-Asset-Management-Market

Increase in investment and adoption of cryptocurrency and growth in digitalization in financial organization and large companies boost the growth of the global crypto asset management market. In addition, simplifying the process of purchasing cryptocurrency positively impacts the crypto asset management market growth. However, factors such as limited awareness toward understanding cryptocurrency and lack of regulatory framework is expected to hamper the market growth. On the contrary, rise in adoption of cryptocurrency across several industries such as BFSI, healthcare, and IT is expected to offer remunerative opportunities for the expansion of the market during the forecast period.

By deployment model, the on-premise segment garnered the largest crypto asset management market share, and is expected to maintain its dominance in the upcoming years 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. 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 asset 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.

Region wise, the crypto asset management market was dominated by North America in 2020, and is expected to retain its position during the forecast period. This is attributed to number of factors such as penetration of new industries and improvement in economy. 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. However, Asia-Pacific is expected to witness significant growth 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 report focuses on growth prospects, restraints, and trends of the global crypto asset management market analysis. The study provides Porter’s five forces analysis to understand impact of various factors, such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers, on the global crypto asset management market share.

Segment review

The global crypto asset management market is segmented on the basis of offering, application type, mobile operating system, end user, industry vertical, and region. By offering, the market is divided into custodian solution and wallet management. By deployment mode, it is categorized as on-premises and cloud. On the basis of application, it is classified into web based and mobile. By end user, the market is divided into individual and enterprise. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Crypto Asset Management Market
By Deployment Mode
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Cloud is projected as one of the most lucrative segments.

The key players profiled in the crypto asset management industry are Bakkt, BitGo., Coinbase, Crypto Finance AG, Gemini Trust Company, LLC, ICONOMI Limited, Paxos Trust Company, LLC., Ledger SAS, Metaco, and Xapo Holdings Limited. These players have adopted various strategies to increase their market penetration and strengthen their position in the crypto asset management industry.

Impact of COVID-19 Pandemic Crypto Asset Management Market-

The COVID-19 pandemic has impacted all the industry globally. The COVID-19 has positively impacted the growth of the market, owing to various government, public, and other organization adopting work from home culture for their employees. In addition, pandemic has accelerated the push toward further digitization and expanded the cloud adoption of crypto asset management market. In addition, crypto asset management is providing institutions and individual with flexibility, scalability, and operational resilience, which enables banks to deliver cost-effective crypto financial services such as crypto transactions, crypto exchange, live rate conversions, and various others is driving the market during COVID-19 pandemic. Furthermore, most of banking organizations are rapidly adopting cloud services with the approvals of the government during the COVID-19 pandemic to secure scalable, resilient, available, and agile IT operations to be most effective in the crypto services.

Crypto Asset Management Market
By End User
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Individuals segment account for the major market share in 2020.

Top impacting factors

Increase in investment and adoption in cryptocurrency

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 immediately and securely exchange the cryptocurrency through the crypt asset management platform, which drives the growth of the market. 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.

Rise in digitalization in financial organizations and large companies

Digitization is the process of conversion data or information into a digital format with the adoption of advance technology. It plays very important role in the banking sector as providing enhanced customer services and to improve security of the customers. It helps banks offer digital payment service and saves time on the debt collection process, which propels the growth of the market. In addition, digital technologies accelerate business growth as it allows companies to reach extensive audience and build lifelong relationships with clients to boost brand reliability.  In addition, technology helps businesses achieve several objectives such as delivering a good level customer services, reducing operational costs, and exploiting revenues. Moreover, increase in adoption of digital banking service among the customers as it helps customers obtain bank statements, conduct financial transactions, and perform other related operations at a single click accelerates the growth of the market.  Furthermore, several banks and financial institutions across China, Japan, and India have been using the distributed ledger technology to support several banking products such as withdrawals, deposits, checking/savings accounts, transfers, loan management, and insurance products. Thus, growing digitalization in the banking and larger business is propelling the growth of the crypto asset management market around the world.

Crypto Asset Management Market
By Region
2030
North America 
Europe
Asia-Pacific
LAMEA

Asia-Pacific is projected as one of the most significant regions.

Key Benefits For Stakeholders

  • The study provides an in-depth analysis of the global crypto asset management market forecast along with the current trends and future estimations to explain the imminent investment pockets.
  • Information about key drivers, restraints, & opportunities and their impact analysis on the global market is provided in the report.
  • Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the crypto asset management industry.
  • The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.

Key Market Segments

By Offering 

  • Custodian Solution
  • Wallet Management

By Deployment Mode

  • Cloud
  • On-premises

By Application 

  • Web-based
  • Mobile

By End User

  • Individual
  • Enterprises

By Region

  • North America
    • U.S.
    • Canada
  • Europe 
    • UK
    • Germany 
    • France
    • Italy
    • Spain
    • Netherlands
    • Rest of Europe
  • Asia-Pacific 
    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia-Pacific
  • LAMEA
    • Latin America 
    • Middle East 
    • Africa

Key Market Players

  • Bakkt
  • BitGo.
  • Coinbase
  • Crypto Finance AG 
  • Gemini Trust Company LLC. 
  • ICONOMI Limited
  • Paxos Trust Company LLC.
  • Ledger SAS 
  • Metaco
  • Xapo Holdings Limited

Crypto Asset Management Market Report Highlights

Aspects Details
Crypto Asset Management Market By DEPLOYMENT MODEL
By DEPLOYMENT MODEL
  • On-premise
  • Cloud
Crypto Asset Management Market By OFFERING
By OFFERING
  • Custodian solutions
  • Wallet management
Crypto Asset Management Market By APPLICATION
By APPLICATION
  • Web-based
  • Mobile
Crypto Asset Management Market By END USER
By END USER
  • Enterprises
    • Financial Institutions
    • Retail
    • .Healthcare
    • Travel and Hospitality
    • Media and Entertainment
    • Others
  • Individual
Crypto Asset Management Market By Region
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (France, Germany, Italy, Spain, UK, Russia, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Thailand, Malaysia, Indonesia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, South Africa, Saudi Arabia, UAE, Argentina, Rest of LAMEA)
Key Market Players
Key Market Players

PAXOS TRUST COMPANY, LLC, BitGo., METACO, Coinbase, GEMINI TRUST COMPANY, LLC., ICONOMI LIMITED, Ledger SAS, Xapo Holdings Limited, CRYPTO FINANCE AG, BAKKT

Analyst Review

Adoption of crypto asset management has increased over the years as crypto asset management technology platform simplifies the process of purchasing cryptocurrencies by helping users consolidate their diverse holdings, while simultaneously providing improved portfolio management tools. In addition, rise in number of crypto currency traders and increase in value of cryptocurrencies and tokens assist the growth of the market. Furthermore, it allows merchant to transfer the cross-border payment and lowers the transaction charges, interest rate, and currency exchange fees, which enhances the growth of the market. In addition, it provides blockchain wallets as authorized currency wallets that allow people store and purchase the cryptocurrency for fulfilling their daily payment transaction requirement.

Key providers of crypto asset management market such as BitGo, Coinbase, Gemini Trust Company, LLC, and Paxos Trust Company, LLC account for a significant share in the market. Moreover, companies are innovating different solution to provide mobile solutions to the investors so that they can access their account from mobile devices. For instance, in January 2021, Intercontinental Exchange Inc. has merged with a special-purpose acquisition company to reduce the time to launch a consumer app for trading and making payments with digital assets. This app allows people manage their holdings of various digital assets like bitcoin, loyalty points, and reward programs. Furthermore, companies are partnering and collaborating with each other to make it easier from new comers to enter into the crypto market. For instance, in April 2021, Coinbase and PayPal partnered to give U.S. consumers a new way to purchase cryptocurrency using debit cards and bank accounts linked to PayPal. With this, U.S. customers can carry out transactions with security and transparency, and instantly fund crypto purchases with PayPal. Moreover, many local companies are forming partnership with crypto provides to implement it in their branches. For instance, in 2019, San Francisco-based company SoFi partnered with Coinbase to launch cryptocurrency trading in California. With the partnership consumers can check prices and buy certain cryptocurrencies through SoFi invest. In addition, the company launched zero-fee So-Fi branded exchange traded funds and a credit card.

According to the industry experts, the crypto asset management market is expected to witness increased adoption in the coming years, owing to rise in need for improved asset management to manage various crypto currencies from investing to trading these currencies. North America is expected to dominate the market during the forecast period while emerging countries in Asia-Pacific and Latin America are projected to offer significant growth opportunities.

Author Name(s) : Pramod Borasi| Vaibhav Modi | Vineet Kumar

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Crypto Asset Management Market

Global Opportunity Analysis and Industry Forecast, 2021-2030