Selbyville, Delaware, May 04, 2021 (GLOBE NEWSWIRE) — Global Market Insights Inc. has recently added a new report on the cryptocurrency market which estimates the market valuation for cryptocurrency will cross US$ 1.8 billion by 2027. The growing demand for digital assets and secure transactions is expected to contribute significantly to market growth.
The need for low-cost digital currency payment systems across enterprises is one of the drivers accelerating the cryptocurrency market growth. Cryptocurrencies along with the distributed ledger technology enable improved trading and tracking capabilities. Several technology enterprises across the globe are also focusing on the development of blockchain-based financial systems. Similarly, companies are emphasizing on digital assets to gain a competitive edge in the market. This is anticipated to contribute to the development of innovative cryptocurrency software and hardware components to support industry adoption.
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The Graphical Processing Unit (GPU) segment is projected to grow at a CAGR of above 10% over the forecast timeline. Cryptocurrency miners use GPUs over traditional CPUs for optimized performance in the mining process. The need for high-performance efficiency in processing repetitive computations is addressed through GPUs. In addition, the availability of advanced Arithmetic Logic Units (ALUs) assures high…