Crypto Exchange Market Report 2025-2034: Binance Leads with 12.6% Share

ResearchAndMarkets.com’s report reveals the crypto exchange market’s significant growth, estimating $24.75 billion in 2024, and projected to reach $213.15 billion by 2034. The market is dominated by Binance and Coinbase. Key growth drivers include digital payments and urbanisation, while challenges involve cybersecurity risks. Centralised exchanges currently lead, but decentralised and derivatives trading are expected to grow rapidly. Regions like Asia-Pacific are forecasted for high growth rates.

A recent report from ResearchAndMarkets.com titled “Crypto Exchange Market Opportunities and Strategies to 2034” sheds light on the dynamics of the crypto exchange market. It covers historical data from 2019 to 2024, and offers forecasts from 2024 to 2034. Remarkably, the global crypto exchange market valued at approximately $24.75 billion in 2024, has seen a significant growth rate of 19.29% since 2019 and is projected to skyrocket to $71.94 billion by 2029, increasing further to $213.15 billion by 2034.

The increase in popularity for bitcoin and digital assets is largely driving this growth. More people adopting smartphones and increased internet access have also contributed positively, while risks like cybersecurity have posed some challenges during the historical period. Looking forward, emerging economies, rising digital transactions, supportive government policies, and urban expansion are predicted to fuel further expansion in this market.

Market concentration is a key aspect, with the top ten players commanding 35.11% of the total market share as of 2023. Binance remains the dominant force with a 12.58% market share, trailed by Coinbase at 7.76% and Kraken with 4.54%. Other notable competitors include Block Inc., Bybit, and Crypto.com, among others, each holding smaller portions of the market.

The report segments the market by exchange model, trading type, coin or token, and payment method. Centralized exchanges are the largest segment, comprising 90.76% of the market in 2024. However, it’s the decentralized exchange segment that’s set to grow the fastest at a compounded rate of 26.37% from 2024 to 2029.

In terms of trading types, spot trading is currently leading, making up 58.86% of market revenue. However, derivatives trading is anticipated to expand more quickly, with a projected growth rate of 25.59% in the same forecast period. Segmentation continues within coin types, with Bitcoin exchanges dominating, while altcoin exchanges are forecast to grow the most rapidly.

Payment methods also show a clear preference. Fiat currency exchanges hold the largest share at 59.72% of total transactions in 2024, but cryptocurrency exchanges are expected to catch up with a 24.06% growth rate forecast.

Regionally, North America is currently the largest market, holding 40.20% of total value, while strong growth is expected in Asia-Pacific and Western Europe. The fastest growth rates in these areas are pegged at CAGRs of 25.10% and 24.01%, respectively, over the next few years.

To exploit these market opportunities, analysts recommend firms focus on strategic partnerships, enhance security through decentralised exchanges, develop APIs for better integration, and explore emerging markets. The report also highlights the need for competitive pricing and strong relationships with financial service providers to capture greater market share.

The complete report encapsulates various insights crucial to understanding future trends and demands in the crypto exchange market, forecasting tremendous potential across multiple fronts.