Market research store Research and Markets has released its new report on digital currencies, “Global Digital Coin Market 2016-2020,” projecting a 7.33% market growth within the digital coin space from ’16 to ’20.
The report summary highlights some key findings, including the level of investment going into digital coin startups (an estimated $670 billion in 2015). Low transaction cost is named as the industry’s key driver of growth. Other drivers discussed include the increased adoption of digital coins (the United Nations recognizes that digital currencies run 45 national currencies worldwide) and blockchain as an underlying technology.
The key challenges named in the report are regulatory issues, liquidity limits and lack of expert knowledge in developing countries.
The report highlights the following as key players within the digital coin space: bitcoin, ethereum, ripple, litecoin and dogecoin. Key vendors mentioned in the report include Dash, Factom, MaidSafeCoin, Peercoin, Novacoin and Namecoin.
The global digital coin market is divided into three regions: Americas, APAC and EMEA.
This digital currency report follows Research and Markets’ 37-page report titled “Global Crypto Currency Market 2016-2020,” released in February.
The 56-page report is available for download for $2,500 (single user) on the report summary page.