New York, NY, Feb. 22, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Bitcoin Market By Wallet Type (Software Wallets, Hardware, Online Wallets, and Paper Wallets), By Application (International Transactions, Private Transactions, Payments, and Buying), and By End User (Individual, Large Enterprises, and Small & Medium Enterprises): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027”.
“According to the research study, the global Bitcoin Market was estimated at USD 214,833 Million in 2018 and is expected to reach USD 1,692,252 Million by 2027. The global Bitcoin market is expected to grow at a compound annual growth rate (CAGR) of 25.67% from 2019 to 2027”.
Bitcoin is a kind of cryptocurrency and is a distributed online currency without any single administrator or bank carrying out the functions. Moreover, Bitcoin can be sent from one user to another one via the peer-to-peer Bitcoin network without any necessity for mediators. Apart from this, the number of transactions is confirmed through using cryptography and registered in the public distributed ledger referred to as a blockchain. Moreover, Bitcoin was first launched in 2008 by a group under the name of Santoshi Nakamoto and the Bitcoin open source code was launched in 2009. In addition to this, bitcoins are swapped for other currencies, services, and goods.
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Our Free Sample Report Includes:
- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Bitcoin Market?
2) What is the market size, share of the Bitcoin Market?
3) Who are the top market players in Bitcoin Market?
4) What will be the future market of the Bitcoin Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Impact Analysis of COVID-19 Pandemic on Businesses: Know Short Term and Long Term Impact
Most of the businesses are facing a growing litany of business-critical concerns related to the coronavirus outbreak, including supply chain disruptions, a risk of a recession, and a potential drop in consumer spending. All these scenarios will play out differently across various regions and industries, making accurate and timely market research more essential than ever.
We at Facts and Factors (http://www.fnfresearch.com) understand how difficult it is for you to plan, strategize, or make business decisions, and as such, we have your back to support you in these uncertain times with our research insights. Our team of consultants, analysts, and experts has developed an analytical model tool for markets that helps us to assess the impact of the virus more effectively on the industrial markets. We are further implementing these insights into our reports for a better understanding of our clients.
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Furthermore, Bitcoin is utilized for purchasing stock and transnational payments made in the form of bitcoins have proved to be cost-effective & easy.
Escalating usage of virtual currency will drive the market trends
Virtual currency or virtual money is the avenue for transferring money cost-effectively and without any bank use. In addition to this, the transactions are fast, secure, and transparent. Moreover, virtual currency helps in uninterrupted banking, government, and financial operations or functioning.
Furthermore, massive funding made by small & medium-sized firms in the business to accrue huge proceeds will boost the growth of the Bitcoin industry over the forecast timeline. Apparently, Cryptocurrencies like Bitcoin offers a digital alternative to government-issued currencies and they can be utilized to purchase everything through online retailing activities. However, bitcoins can be lost due to myriad reasons like hardware failure or death. In addition to this, a lack of awareness about Bitcoin can further hamper the business growth during the forecast timeline. Nevertheless, a rise in the acceptance of virtual currency for monetary deals & purposes of investment, low fees, and high ROI will create new growth avenues for the market over the forecast timeline.
Top Market Players:
- Avalon Life S.A.,
- Bitstamp Ltd.,
- BITWAGE Inc.,
- Blockstream Inc.,
- Circle Internet Financial Limited,
- Coinify ApS,
- Ethereum Foundation,
- nChain Group,
- Nvidia Corporation,
- R3 Consortium (Ripple),
- Uphold Inc.,
- Xapo Inc.
To know an additional revised 2020 list of market players, request a sample report: https://www.fnfresearch.com/sample/bitcoin-market-by-wallet-type-software-wallets-hardware-142
Software wallets to lead the wallet type segment by 2027
The growth of the segment during the forecast timeline is due to its easy availability for both mobile and desktop tools. Apart from this, escalating the utilization of smartphones and the internet is likely to further steer the segmental surge over the forecast timeframe.
International transactions segment to dominate the application landscape by 2027
The segmental surge during the period from 2019 to 2027 is due to the cost-effectiveness involved in the Bitcoin transactions of sending & receiving money across the globe. Apart from this, bitcoins assist the users to prevent the payment of high charges as well as steeply rising exchange rates.
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The study provides a decisive view of the Bitcoin market by segmenting the market based on the wallet type, application, end-user, and regions. All the segments have been analyzed based on present and future trends and the market is estimated from 2019 to 2027.
Virtual currency or virtual money is the new opportunity for transferring money cost-effectively and without any bank aid. In addition to this, financial deals are fast, secure, and transparent due to virtual money. Moreover, virtual currency helps in uninterrupted banking, government, and financial activities. An increase in the rate of industrialization globally along with a huge demand for safe & cost-efficient business as well as financial transactions will generate the requirement for bitcoins over the forecast period. This, in turn, will elevate the growth of the market during the period from 2019 to 2027.
Based on the wallet type, the market for Bitcoin is divided into Software Wallets, Hardware, Online Wallets, and Paper Wallets. On the basis of application, the industry is sectored into International Transactions, Private Transactions, Payments, and Buying. In terms of end-user, the market is classified into Individual, Large Enterprises, and Small & Medium Enterprises.
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Asia Pacific to occupy a Numero Uno Position in the overall market growth by 2027
The growth of the market in the region during the period from 2019 to 2027 is owing to the large-scale acceptance of bitcoins in trading & commerce activities, money deals, and payment transactions in the region. Moreover, countries like India, Japan, and China are introducing new initiatives for the digitization of monetary transactions along with the usage of virtual currency. This, in turn, will steer the growth of the regional market over the forecast timeline.
Browse the full “Bitcoin Market By Wallet Type (Software Wallets, Hardware, Online Wallets, and Paper Wallets), By Application (International Transactions, Private Transactions, Payments, and Buying), and By End User (Individual, Large Enterprises, and Small & Medium Enterprises): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018 – 2027” report at https://www.fnfresearch.com/bitcoin-market-by-wallet-type-software-wallets-hardware-142
This report segments the Bitcoin market as follows:
Bitcoin Market: By Wallet Type Analysis
- Software Wallets
- Online Wallets
- Paper Wallets
- Hardware Wallets
Bitcoin Market: By Application Analysis
- International Transactions
- Private Transactions
Bitcoin Market: By End User Analysis
- Small & Medium Enterprises
- Large Enterprises
Key Features of Bitcoin Market Report:
- Bitcoin Market structure: Overview, industry life cycle analysis, supply chain analysis
- Bitcoin Market: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Bitcoin Market size, trend, and forecast analysis
- Bitcoin Market segments’ trend and forecast
- Bitcoin Market’s competitive landscapes: Market share, Product portfolio, new product launches, etc.
- Bitcoin Market attractiveness and associated growth opportunities
- Emerging Trends in the Bitcoin Market.
- Strategic growth opportunities for the existing and new players
- Key success factors
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