Global Bitcoin Payments Market by Type (Hardware, Software, Service), By Application (E-commerce, Retail, Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

                                          

                                                                                       
Market Overview:

The global bitcoin payments market is expected to grow at a CAGR of 31.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing adoption of bitcoin as a payment mode by merchants and consumers across the globe. In addition, the growing awareness about bitcoins and its benefits is also contributing to the growth of this market. The global bitcoin payments market can be segmented on the basis of type, application, and region. On the basis of type, it can be divided into hardware wallets, software wallets, and services. The software wallet segment is expected to grow at a higher CAGR during the forecast period owing to its ease-of-use and security features compared with other types of wallets. By application, it can be classified into ecommerce transactions, retail transactions, online gaming transactions,,and others (including donations). Among these applications segments.,the ecommerce transaction segment is projectedto register highest CAGR duringthe forecast period owingto rising adoptionof bitcoins for making online purchases by consumers worldwide.Regionally speaking,.However,.



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Product Definition:

Bitcoin payments are a way to send money to someone else without having to go through a third party, like a bank. Bitcoin payments are important because they're fast, cheap, and secure.

Hardware:

Hardware is the part of payment system which includes smartphones, tablets, and computers. It plays an important role in making payments using Bitcoin. The growth factor for hardware is increasing due to its features such as protecting private keys, facilitating transactions and providing security against frauds & thefts.

Hardware wallets are gaining popularity among bitcoin users owing to its advantages over software wallets including greater control over wallet security coupled with preventing unauthorized access from blockchain data itself.

Software:

Software is used to create a payment system that allows users to make payments online using bitcoins. The software also helps in monitoring the payments and keeping records of all transactions.

The software enables users to set up a payment system that allows them to send and receive digital currency, manage accounts, and monitor transactions. Additionally, it also helps in creating new virtual currencies as per the requirements which can be used for making payments.

Application Insights:

The e-commerce segment accounted for more than 60.0% share of the global revenue in 2017 and is expected to continue dominating the market over the forecast period. The growth of this segment can be attributed to increasing adoption of digital payment methods across various e-commerce platforms worldwide, including but not limited to Amazon, Overstock, Newegg, Target Corporation and eBay Inc.

The retail segment is anticipated to register a significant growth rate over the forecast period owing to rising adoption of bitcoin by major retailers around the world as an alternative payment method against conventional bank transfers or credit cards. For instance, in November 2017., Dish Network Corporation announced that it will accept bitcoins as payments for its services from customers globally via BitPay's merchant solution provider platform.

Regional Analysis:

The market in Asia Pacific is expected to grow at a significant rate over the forecast period. The growth can be attributed to increasing adoption of digital currencies across retail and e-commerce applications. Furthermore, growing awareness regarding virtual currencies among consumers is also anticipated to drive demand for payment solutions based on bitcoin over the next eight years.

The European region accounted for more than 20% of the overall share in 2017 owing to early adoption of technologies such as cloud computing, Big Data, social media and mobile payments. Moreover, Europe has one of the most influential governments when it comes to adopting new technologies such as block chain technology which will propel regional market growth over the forecast period.

Growth Factors:

Increasing acceptance of Bitcoin as a payment method by online and offline merchants.
Rising popularity of Bitcoin among consumers due to its convenience, security and anonymity features.
Increased investment in blockchain technology by financial institutions and technology companies, which is likely to drive innovation in the payments space including for Bitcoin payments.
Growing demand for digital currencies in countries that have weak currencies or are facing economic instability, as investors seek refuge in digital assets like Bitcoin that can be used for transactions globally without any restrictions or conversion fees5) The increasing use of Bitcoins for cross-border transactions due to its low transaction costs and fast settlement times


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Scope Of The Report
Report Attributes
Report Details
Report Title
Bitcoin Payments Market Research Report
By Type
Hardware, Software, Service
By Application
E-commerce, Retail, Others
By Companies
Coinpayments, Inc, BitPay, Coinbase, CoinGate, Spectro Finance Ltd, GoUrl.io, GaragePreneurs Internet Pvt Ltd, GoCoin LLC, Shopify Inc, CoinsBank
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
246
Number of Tables & Figures
173
Customization Available
Yes, the report can be customized as per your need.

Global Bitcoin Payments Market Report Segments:
The global Bitcoin Payments market is segmented on the basis of:
Types
Hardware, Software, Service
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
E-commerce, Retail, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
Coinpayments, Inc
BitPay
Coinbase
CoinGate
Spectro Finance Ltd
GoUrl.io
GaragePreneurs Internet Pvt Ltd
GoCoin LLC
Shopify Inc
CoinsBank



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Highlights of The Bitcoin Payments Market Report:
The market structure and projections for the coming years.
Drivers, restraints, opportunities, and current trends of market.
Historical data and forecast.
Estimations for the forecast period 2030.
Developments and trends in the market.
By Type:
Hardware
Software
Service
By Application:
E-commerce
Retail
Others
Market scenario by region, sub-region, and country.
Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Bitcoin Payments Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
North America
Europe
Asia Pacific
Middle East & Africa
Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
Correctly Positioning New Products
Market Entry Strategies
Business Expansion Strategies
Consumer Insights
Understanding Competition Scenario
Product & Brand Management
Channel & Customer Management
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8 Reasons to Buy This Report
Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
Implemented Robust Methodology to Prepare the Report
Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
Provides Information About the Top-winning Strategies Implemented by Industry Players.
In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
Customization of the Report Available

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