Bitcoin Mining Equipment Market to Reach $1.7 Billion Globally at 12.6% CAGR by 2031: Allied Market Research

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Improved information transparency on payments in banking, financial services and other business sectors is driving global growth. bitcoin mining equipment market

PORTLANDOre. , January 27, 2023 /PRNewswire/ — Allied Market Research has published a report. Bitcoin Mining Supplies Market By Type (Application Specific Integrated Circuit, Field Programmable Gate Array, Graphics Processing Unit, CPU), By Security (Two-Factor Authentication, Biometric Security, NFC Connectivity, Others), By Application (Enterprise, Personal): Global Opportunity Analysis and Industry Forecast, 2021-2031″ According to the report, the global bitcoin mining hardware industry was created $528.9 million in 2021 and is estimated to reach 1.7 billion dollars By 2031, it is witnessing a CAGR of 12.6% from 2022 to 2031. The report provides detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes and competitive scenarios.

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Drivers, Constraints and Opportunities-

Improved information transparency on payments in banking, financial services and other business sectors is driving global growth. bitcoin mining equipment market. On the other hand, ignorance about bitcoin among developing economies, mining is somewhat of a drag on growth. However, government agencies in developing countries offer a number of opportunities bitcoin mining equipment which is very useful for industry.

Covid-19 scenario-

  • The increased need to share financial details with consumers during the pandemic has led to a significant increase in the adoption of bitcoins by a number of financial institutions around the world, which in turn has impacted the global economy. bitcoin the mining equipment market is positive.
  • This shift continued even after the pandemic.

Application specific integrated circuit segment to maintain its edge during the forecast period –

Based on type, the application-specific integrated circuit segment held the major share in 2021 and generated nearly half of the global power. bitcoin mining equipment market revenue and is expected to take root by 2031. The same segment will also show the fastest CAGR of 14.8% during the forecast period. This is because an application-specific integrated circuit (ASIC) is a type of integrated circuit built only for a specific application or purpose.

The two-factor authentication segment accounted for the major share in 2021.

Based on security, the two-factor authentication segment accounted for nearly half of global data bitcoin Revenue from the mining equipment market in 2021 and is expected to maintain its dominance till 2031. This is due to enabling 2FA. bitcoin, users will have to provide a 2FA code when performing certain actions in the app. However, the NFC connectivity segment will demonstrate this fastest CAGR 17.0% during the forecast period. This is because this technology is used throughout the banking sector for seamless connectivity between devices.

A personal segment to control the scale-

On the basis of application, the personal segment contributed the highest revenue in 2021 and accounted for nearly three-fourths of the global revenue. bitcoin mining equipment market share. raising awareness about bitcoin and mining among individuals is driving the growth of the segment. On the other hand, the enterprise segment will show the fastest CAGR of 15.4% from 2022 to 2031 due to the increasing demand for immersive technology worldwide.

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Asia-Pacific In 2021, it collected the highest share

Based on the district, Asia-Pacific In 2021, it collected the highest share, having more than one-third of the global share bitcoin comes from the mining equipment market. This is due to the large number of people in this region bitcoin mainly due to the miners Demon to be one of the largest economies in terms of mining bitcoins. North America, would also refer to the fastest CAGR at 15.5% during the forecast period. The demand for bitcoins in the trading sector is increasing North America is one of the leading factors driving the market growth. Also, a number of government initiatives to adopt legal cryptocurrency in their systems Canada and United States completed the increase.

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Leading Market Players –

  • Bitcoin goods
  • BetterHash
  • CoinDesk
  • Compass Mining, Inc.
  • BITMAIN Technologies Holding Company
  • Zipmex
  • StormGain
  • BIOSTAR Group
  • CoinWarz

The report analyzes these key players globally bitcoin mining equipment market. These players have adopted various strategies such as expansion, new product launch, partnership and others to increase their market penetration and strengthen their position in the industry. The report is helpful in identifying each market player’s business performance, operating segments, developments and product portfolios.

Key benefits for stakeholders

  • This report provides quantitative analysis of market segments, current trends, estimates and dynamics. bitcoin Dominant Mining Equipment Market Forecast 2022 to 2031 bitcoin market opportunity for mining hardware.
  • Market research is offered along with information on key drivers, restraints, and opportunities.
  • Porter’s five forces analysis highlights the potential of buyers and suppliers to help stakeholders make profit-oriented business decisions and strengthen the supplier-buyer network.
  • in-depth analysis of bitcoin The mining equipment market outlook helps identify prevailing market opportunities.
  • The major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates comparison and provides a clear understanding of the current state of market players.
  • The report includes both regional and global analysis bitcoin mining equipment market trends, key players, market segments, application areas and market growth strategies.

Bitcoin Highlights of the Mining Equipment Market Report

Aspects Details


  • Application Specific Integration Circuit
  • Field programmable gate array
  • Graphics processing unit
  • Central processor


  • Two-factor authentication
  • Biometric Security
  • NFC Connection
  • Others


By region

  • North America (USA, Canada)
  • Europe (Great Britain, Germany, France, Italy, SpainThe rest Europe)
  • Asia-Pacific (Demon, Japan, India, Australia, South KoreaThe rest Asia-Pacific)
  • LAMEA (Latin America, middle east, Africa)

Major market players: BetterHash, Bitcoin Merch, BITMAIN Technologies Holding Company, CoinDesk, Compass Mining, Inc., niceHash, Zipmex, CoinWarz, StormGain, BIOSTAR Group

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