Bitcoin Technology Market is Expected to Raise at a significant CAGR during the forecast period 2022-2029 | Growth & Research Report

The Bitcoin Technology Market is expected to grow at a robust CAGR over the forecast period (2022-2029)

For Additional Insights, Click to Access Complete Report - https://www.gmiresearch.com/report/bitcoin-technology-market-trends-analysis-industry-research/

The factors driving the growth of Bitcoin Technology Market includes increasing acceptance of cryptocurrency as payment by major corporations such as Expedia, PayPal and Subway, Government regulations regarding the use of cryptocurrencies, rise in the number of daily bitcoin transactions around the world and improvements in the living standards. Moreover, increasing adoption of bitcoins by online merchants, SMEs, and start-up companies, growing popularity of blockchain technology, rising awareness about the benefits of using bitcoin technology and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, strategic mergers and acquisitions between key companies, rising disposable incomes and growing population growth rates, are further propelling the Bitcoin Technology Market Growth.

However, growth of the Bitcoin Technology Market is hindered attributed to rising concerns related to frauds.

The leading players operating in the market are Gemini Trust Company, LLC, Robinhood, Binance.com, Blockstream Corporation Inc., Coinbase, Coinify ApS, Payward, Inc., Bitstamp Ltd., Bitpay, and Digital Currency Group Inc., among others.

Based on Service, the Payment & Wallet segment is predicted to grow at a significant CAGR during the forecast period

Bitcoin wallets require less transaction fees, enhances online transactions through smartphones and are easily accessible, are some of the factors responsible for the segment's growth.

Based on End-Use Industry, the BSFI segment is projected to expand at a robust CAGR over the forecast period

Growing adoption of digital currencies by financial institutions such as National Bank of Canada, Revolut and UBS Group AG because bitcoins require low transaction fees and eliminates third parties such as payment processors, is pushing growth of the segment.

Based on Region, the North American region is anticipated to grow at a remarkable CAGR during the forecast period

Increasing demand for bitcoins across end-use industries such as E-Commerce, BSFI and Media and Entertainment, rising awareness about the benefits of using bitcoins, growing population growth rates and high per capita incomes, are some of the important factors augmenting the market growth in the North American region.

Key Development

In 2020, -Digital Currency Group (DCG), a global enterprise that builds, buys, and invests in blockchain companies, acquired Luno, a leading cryptocurrency exchange.
Market Segmentation

Segmentation by Service

Exchanges
Remittance Services
Payment & Wallet
Segmentation by End-Use Industry

BFSI
E-Commerce
Media & Entertainment
Hospitality
Segmentation by Region

Asia Pacific
China
Japan
India
Rest of APAC

North America
United States of America
Canada

Europe
United Kingdom
Germany
France
Spain
Rest of Europe

RoW
Brazil
South Africa
Saudi Arabia
UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe - +353 1 442 8820; US - +1 860 881 2270
Address: Dublin, Ireland
Website: https://www.gmiresearch.com/

Level 1, The Chase Carmanhall Road, Sandyford Industrial Estate, Dublin D18 Y3X2, Ireland

GMI Research's leadership team with extensive experience in research and consulting together with our research and domain expertise creates a strong value proposition to create solutions that addresses our clients business problems and add significant value to long lasting relationship.

This release was published on openPR.