Cryptocurrency Market Forecasts a $27 billion Increase in Revenue by 2027
The cryptocurrency revolution is only just getting started if the latest market projections are anything to go by.
In 2023 alone, revenue within the cryptosphere is expected to hit $37.87bn, which represents nearly a $20bn jump year-on-year.
Of course, 2022 saw perhaps the most momentous collapse in the value of Bitcoin after global exchange FTX crashed, and this is reflected in the relatively low revenue of $18.52bn last year.
However, pre-crash levels reached as high as $31.91bn in 2021, and a strong recovery from crypto this year has given way to positive projections for the next four years.
Crypto Revenue Projected to Increase by 71% Over Next Four Years
Revenue is expected to show an annual growth rate of 14.40%, which would result in a projected amount of $64.87bn by 2027 – this represents a 71% upturn from 2023.
Although the regulatory climate amongst global superpowers – most notably the US and UK – is cause for concern, Statista analysts are seemingly confident that the crypto industry will remain bullish in the face of adversity.
2022 was the first down-year in crypto’s revenue expansion, and according to the projections below, this is nothing more than an anomaly amongst an otherwise strong upward trajectory.
Number of Crypto Users Set to Amount to 994.3 million by 2027
Increased revenue is, of course, fuelled by an ever expanding market and analysts are expecting the amount of crypto users to rise to near-enough one billion over the next four years.
2017 levels saw around 30.89 million users, but the uptake across a multitude of industries has highlighted the real-world applications of crypto.
Users steadily increased until 2020 with around 44 million more people joining the revolution, but the turn of the decade is where things really started to pick up.
By 2021, a 300% increase to just under 300 million users saw the market become increasingly saturated, and this trend shows no sign of slowing down if the projections below are taken at face value.
A decade on from 2017’s 30.89 million users, analysts are predicting the amount of users to reach around 994 million by 2027.
However, after a sharp upturn in users since the turn of the decade, the market saturation of users is expected to see the trend tail off.
Average Crypto Revenue Per User Predicted to Grow By 16% in 2027
Although the market looks set to become increasingly saturated, individual revenue per user is predicted to rise.
2021 saw average revenue per user reach its highest level at around $107 – an incredibly steep rise on 2018’s ceiling of around $38.
However, China’s decision to ban cryptocurrency transactions in September of 2021 led to a wave of market confusion.
In an attempt to curtail financial crime and prevent capital flight from its markets, the nation’s government enacted the world’s most stringent measures yet on crypto.
Around $400 billion in value was wiped off the global currency market, with popular coins such as Bitcoin and Ethereum falling sharply.
As is evidenced by the graph below, this led to a steep drop-off in revenue per user by 2022, falling by just under 60%.
However, a rather ambiguous legal loophole in China means there are actually no specific policies against holding digital assets like Bitcoin, Dogecoin, or Ethereum.
Data even shows a pick up in transactions in China over the past year, with restrictions imposed by Beijing largely bypassed by anti-establishment users.
Statista analysts remain confident that the crypto industry’s steady recovery will continue right the way through in its 2027 projections, with a 16% jump in users compared with 2023’s current levels.
“The cryptocurrency market has a strong history of recovery in the face of significant market downturns, and 2022’s steady progress can only be viewed as a positive.
“The regulatory climate may be cause for concern, but there appears to be little progress from law makers as user revenue continues to increase after last year’s collapse.
“If the analyst projections are any indication of the optimism within the crypto industry, it can only mean experts are confident the alternative currency market will continue to expand.”