Mining Equipment Market Will Grow in the Coming Years


BY MARKO VIDRIH: Research company Reportlinker reports that the mining equipment market will grow at least until 2023.

As reported an increase in the number of cryptocurrency mining products will lead to an increase in the mining market by 10% annually. At the same time, demand for FPGA processors and ASIC miners will contribute to such growth.

According to researchers, the main problems facing the industry will be high operating costs and low profits. In addition, a large number of cryptocurrency startups are expected to stop working, which will also leave its mark on the industry. 

Analysts also noted a fairly large competition in the market. Some companies are trying to move from mining on special equipment to mobile mining of cryptocurrencies – that is, to launch smartphones for mining.

Note that the fall in the cryptocurrency market last year greatly influenced the miners and manufacturers of equipment for the extraction of cryptocurrencies. For example, Nvidia noted a decrease in sales of GPU miners in Q3 2018, and by the end of the year, the value of the company’s shares had dropped significantly. However, this year the computer equipment manufacturer expects the growth of the cryptocurrency market.

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