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Digital Assets - Namibia

Namibia
  • Revenue in the Digital Assets market is projected to reach US$4.97m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2028) of 7.96% resulting in a projected total amount of US$6.76m by 2028.
  • The average revenue per user in the Digital Assets market amounts to US$26.37 in 2024.
  • From a global comparison perspective it is shown that the highest revenue is reached United States (US$36.88bn in 2024).
  • In the Digital Assets market, the number of users is expected to amount to 233.50k users by 2028.
  • User penetration will be 6.92% in 2024 and is expected to hit 8.01% by 2028.

Definition:

Digital assets refer to any type of digital or virtual item that has value, including cryptocurrencies, digital tokens, and non-fungible tokens (NFTs). These assets are created, stored, and traded on a digital platform, such as a blockchain, and can be bought, sold, or traded like traditional assets.

Structure:

Digital Assets comprises of Cryptocurrencies, NFT and DeFi.

Additional Information:

Examples of digital assets include Bitcoin, Ethereum, and collectible NFTs like digital art or virtual real estate.

In-Scope

  • Cryptocurrency exchanges
  • Trading platforms / neobrokers
  • Neobanks
  • NFT marketplaces
  • DeFi services

Out-Of-Scope

  • Traditional Investments
  • Physical Assets
Digital Assets: market data & analysis - Cover

Market Insights report

Digital Assets: market data & analysis

Study Details

    Revenue

    Notes: Data was converted from local currencies using average exchange rates of the respective year.

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.

    Most recent update: Apr 2024

    Analyst Opinion

    Currently, there are several trends in digital assets that are worth noting. One of the most notable is the growing interest in non-fungible tokens (NFTs), which are unique digital assets that are authenticated using blockchain technology. Another trend is the increasing popularity of stablecoins, which are digital assets that are designed to maintain a stable value relative to a particular asset, such as the US dollar. Additionally, there is a growing interest in decentralized finance (DeFi) platforms, which allow individuals to engage in financial activities, such as lending and borrowing, without the need for intermediaries.
    Several factors are driving the growth of the digital assets market. One of the most significant is the increasing adoption of blockchain technology, which provides a secure and transparent way to verify transactions. Additionally, the growing interest in decentralized finance (DeFi) is driving demand for digital assets, as individuals seek ways to participate in financial activities without relying on traditional financial institutions. Another factor is the growing awareness of the potential benefits of digital assets, such as lower transaction costs, faster transaction times, and increased liquidity.
    The digital assets market is expected to continue growing in the coming years, driven by factors such as increasing adoption of blockchain technology, growing interest in decentralized finance, and the increasing popularity of non-fungible tokens. Additionally, the development of new use cases for digital assets, such as in the gaming industry and for digital identity verification, is likely to further drive growth. However, as with any emerging market, there are also risks and challenges, such as regulatory uncertainty and the potential for market volatility.

    Users

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Global Comparison

    Most recent update: Mar 2024

    Source: Statista Market Insights

    Methodology

    Data coverage:

    The data encompasses B2C enterprises. Figures are based on transaction values / revenues / assets under management and user data of relevant services and products offered within the FinTech market.

    Modeling approach / Market size:

    Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, publicly available databases, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, population, internet penetration, smartphone penetration, credit card penetration, and online banking penetration. This data helps us estimate the market size for each country individually.

    Forecasts:

    In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

    Additional notes:

    The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

    Digital

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    Digital Assets: market data & analysis - BackgroundDigital Assets: market data & analysis - Cover

    Key Market Indicators

    Notes: Based on data from IMF, World Bank, UN and Eurostat

    Most recent update: Sep 2024

    Source: Statista Market Insights

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