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.
Fig 1: Crypto Asset Management Market Overview
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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.
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 2: Global Crypto Asset Management Market by Deployment, 2020 & 2030
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
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.
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.
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.
Figure 3: 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.
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.
Coinbase Inc (US)
Crypto Finance AG (Germany)
Genesis Global Trading Inc (US)
Bakkt Holdings Inc (US)
BitGo Inc (US)
ICONOMI Limited (UK)
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.
Solutions
Services
Cloud
On-Premises
Web-Based
Mobile
Individual User
Enterprise
US
Canada
Germany
France
UK
Italy
Spain
Rest of Europe
China
Japan
India
Australia
South Korea
Australia
Rest of Asia-Pacific
Middle East
Africa
Latin America
| Report Attribute/Metric | Details |
| Market Size 2021 | USD 0.9 billion |
| Market Size 2022 | USD 1.12 billion |
| Market Size 2030 | USD 5.53 billion |
| Compound Annual Growth Rate (CAGR) | 25.5% (2022-2030) |
| Base Year | 2021 |
| Market Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Deployment Mode, Application Type, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Coinbase Inc (US), Gemini Trust Company LLC (US), Crypto Finance AG (Germany), Genesis Global Trading Inc (US), Bakkt Holdings Inc (US), BitGo Inc (US), ICONOMI Limited (UK) |
| Key Market Opportunities | Proliferation of blockchain technologyEmerging adoption of cryptocurrency across verticals |
| Key Market Dynamics | Increase in investment and adoption in cryptocurrencyRise in digitalization in financial organizations and large companiesSurging need to secure cryptocurrency assets |
Crypto Asset Management Market Highlights:
Frequently Asked Questions (FAQ) :
The global crypto asset management market size was valued at USD 0.9 Billion in 2021.
The global market is projected to grow at a CAGR of 25.5% during the forecast period, 2022-2030.
In 2022, North America had the largest revenue share of the global market.
The key players in the market are Coinbase Inc (US), Gemini Trust Company LLC (US), Crypto Finance AG (Germany), Genesis Global Trading Inc (US), Bakkt Holdings Inc (US), BitGo Inc (US), and ICONOMI Limited (UK).
The solutions category dominated the market in 2021.
In 2021, the on-premises had the largest global market share.
The key drivers of the crypto asset management market include increasing investments in crypto asset management technology and the rapid growth of blockchain technology.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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