ASIC Miner Market Size to Grow by USD 125.57 Mn, Driven by Profitability of Cryptocurrency Mining Ventures - Technavio

NEW YORK, Oct. 20, 2022 /PRNewswire/ -- The Global ASIC Miner Market size is expected to grow by USD 125.57 million during 2021-2026, at a CAGR of 6.74%. The profitability of cryptocurrency mining ventures, growing demand for cryptocurrency-specific hardware, and the rising popularity of mining pools are some of the major factors propelling the market growth. However, volatility in the value of cryptocurrencies, operational complications associated with mining cryptocurrency, and lack of government support may impede the market growth.

Key ASIC Miner Market Driver

The profitability of cryptocurrency mining ventures is notably driving the ASIC miner market's growth. Cryptocurrency miners earn a small profit in cryptocurrency for every successful transaction, based on the quantity of work they do, which includes the processing power used by the mining hardware. Mining cryptocurrency is a slow and cumbersome process, which is not profitable on a small scale. Hence, the adoption of cryptocurrency cloud mining is growing. Customers participate in cloud mining projects that mine cryptocurrencies and then distribute a portion of the profits to their investors. The profitability of cryptocurrency mining ventures will lead to the entry of several small-scale cryptocurrency mining ventures that will adopt cloud mining, which will drive the growth of the global ASIC miner market during the forecast period. Buy Full Report

Key ASIC Miner Market Trend

Investments by large semiconductor companies in mining-specific hardware are the key primary trend driving the ASIC miner market growth. The increasing demand for mining hardware from hobbyists and beginners has encouraged large semiconductor companies and system designers to invest in cryptocurrency mining-specific hardware. PCs and gaming-specific hardware solutions were used earlier to mine cryptocurrencies, such as bitcoin. However, recently, due to the advent of alternative cryptocurrencies, such as Ether, which do not gain a significant advantage from the use of specialized mining hardware, the demand for high-end graphics cards is increasing. Currently, graphic processors and cards such as Nvidia GeForce GTX 1070/ 1080 Ti/ 1070 Ti and AMD Radeon RX 580/ 480/ Vega 56 are used to mine cryptocurrencies. Such investments by large semiconductor companies in mining-specific hardware are expected to drive the growth of the global ASIC miner market during the forecast period.

Key ASIC Miner Market Challenge

Volatility in the value of cryptocurrencies is the major challenge impeding the ASIC miner market growth. The value of cryptocurrencies is extremely volatile. Hence, low-risk investors do not include cryptocurrencies in their financial portfolios. The volatility in value is due to the significant share of cryptocurrencies held by a limited number of customers who buy and sell high volumes on trading platforms and trade exchanges. The lack of transaction charges, position charges, trade posting fees, and regulations on trading platforms causes volatility in the value of cryptocurrencies. Hence, people who hold a significant share of cryptocurrencies manipulate the value to increase their profits without making any actual investments. Therefore, several investors have refrained from including cryptocurrencies in their financial portfolios, which is a challenge for the growth of the global ASIC miner market.

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Global ASIC Miner Market Segmentation

• Application

• Enterprise
• Personal

The ASIC miner market share growth by the enterprise segment will be significant during the forecast period. Crypto mining can only be done using ASIC miners. As more people establish their mining businesses, ASIC mining becomes more competitive, which results in the reduction of the hash rate. Such factors are expected to drive the growth of the enterprise segment, which, in turn, is expected to drive the growth of the ASIC miner market during the forecast period.

• Geography

• North America
• APAC
• Europe
• South America
• Middle East and Africa

35% of the market's growth will originate from North America during the forecast period. The early adoption of blockchain technology and cryptocurrencies in regional countries will facilitate the ASIC miner market's growth in North America over the forecast period.

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ASIC Miner Market 2022-2026: Key Highlights

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will assist in ASIC miner market growth during the next five years
• Estimation of the ASIC miner market size and its contribution to the parent market
• Predictions on upcoming trends and changes in consumer behavior
• The growth of the ASIC miner market
• Analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of the ASIC miner market, vendors

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Table of Contents:

1 Executive Summary

• 1.1 Market Overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market Definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments 
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Enterprise - Market size and forecast 2021-2026
• Exhibit 28: Chart on Enterprise - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Enterprise - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Enterprise - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Enterprise - Year-over-year growth 2021-2026 (%)

• 5.4 Personal - Market size and forecast 2021-2026
• Exhibit 32: Chart on Personal - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Personal - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Personal - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Personal - Year-over-year growth 2021-2026 (%)

• 5.5 Market opportunity by Application 
• Exhibit 36: Market opportunity by Application ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 37: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 38: Chart on Market share by geography 2021-2026 (%)
• Exhibit 39: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 40: Chart on Geographic comparison
• Exhibit 41: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 42: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 43: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 44: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 45: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 APAC - Market size and forecast 2021-2026
• Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 South America - Market size and forecast 2021-2026
• Exhibit 54: Chart on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on South America - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on South America - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on South America - Year-over-year growth 2021-2026 (%)

• 7.7 Middle East and Africa - Market size and forecast 2021-2026 
• Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

• 7.8 US - Market size and forecast 2021-2026
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.9 China - Market size and forecast 2021-2026
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.10 UK - Market size and forecast 2021-2026
• Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.11 France - Market size and forecast 2021-2026
• Exhibit 74: Chart on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on France - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on France - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on France - Year-over-year growth 2021-2026 (%)

• 7.12 Japan - Market size and forecast 2021-2026
• Exhibit 78: Chart on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Japan - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Japan - Year-over-year growth 2021-2026 (%)

• 7.13 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 BIOSTAR Group Co. Ltd. 
• Exhibit 89: BIOSTAR Group Co. Ltd. - Overview
• Exhibit 90: BIOSTAR Group Co. Ltd. - Product / Service
• Exhibit 91: BIOSTAR Group Co. Ltd. - Key offerings

• 10.4 Bitfury Group Ltd. 
• Exhibit 92: Bitfury Group Ltd. - Overview
• Exhibit 93: Bitfury Group Ltd. - Product / Service
• Exhibit 94: Bitfury Group Ltd. - Key offerings

• 10.5 BitMain Technologies Holding Co. 
• Exhibit 95: BitMain Technologies Holding Co. - Overview
• Exhibit 96: BitMain Technologies Holding Co. - Product / Service
• Exhibit 97: BitMain Technologies Holding Co. - Key offerings

• 10.6 BLOCKCHAIN HOLDING GMBH 
• Exhibit 98: BLOCKCHAIN HOLDING GMBH - Overview
• Exhibit 99: BLOCKCHAIN HOLDING GMBH - Product / Service
• Exhibit 100: BLOCKCHAIN HOLDING GMBH - Key offerings

• 10.7 Canaan Inc. 
• Exhibit 101: Canaan Inc. - Overview
• Exhibit 102: Canaan Inc. - Product / Service
• Exhibit 103: Canaan Inc. - Key offerings

• 10.8 DigiByte 
• Exhibit 104: DigiByte - Overview
• Exhibit 105: DigiByte - Product / Service
• Exhibit 106: DigiByte - Key offerings

• 10.9 DriveMining GmbH and Co. KG 
• Exhibit 107: DriveMining GmbH and Co. KG - Overview
• Exhibit 108: DriveMining GmbH and Co. KG - Product / Service
• Exhibit 109: DriveMining GmbH and Co. KG - Key offerings

• 10.10 Ebang International Holdings Inc. 
• Exhibit 110: Ebang International Holdings Inc. - Overview
• Exhibit 111: Ebang International Holdings Inc. - Product / Service
• Exhibit 112: Ebang International Holdings Inc. - Key offerings

• 10.11 Poloniex 
• Exhibit 113: Poloniex - Overview
• Exhibit 114: Poloniex - Product / Service
• Exhibit 115: Poloniex - Key offerings

• 10.12 Shenzhen MicroBT Electronics Technology Co. Ltd
• Exhibit 116: Shenzhen MicroBT Electronics Technology Co. Ltd - Overview
• Exhibit 117: Shenzhen MicroBT Electronics Technology Co. Ltd - Product / Service
• Exhibit 118: Shenzhen MicroBT Electronics Technology Co. Ltd - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 119: Inclusions checklist
• Exhibit 120: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 121: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 122: Research methodology
• Exhibit 123: Validation techniques employed for market sizing
• Exhibit 124: Information sources

• 11.5 List of abbreviations 
• Exhibit 125: List of abbreviations

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