Bitcoin Payments Market By Keys (Private Keys, Public Keys), By Component (Hardware, Software, Services), By Application (E-commerce, Retail, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
Bitcoin is a digital currency also called cryptocurrency that can be traded for goods or services with vendors that accept Bitcoin as payment. With Bitcoin, holders can buy, sell and exchange goods or services without a central authority or bank as an intermediary. Each owner transfers bitcoin to the next by digitally signing a hash of the previous transaction and the public key of the next owner and adding these to the end of the coin. A payee can verify the signatures to verify the chain of ownership.
Increase in need for operational efficiency and transparency in financial payment systems, rise in demand for remittances in developing countries, increase in the data security, and improvements in capital optimization are the major factors that drive the growth of the bitcoin payment market. Moreover, high implementation cost and lack of awareness of bitcoin among the people in developing nations hamper the growth of the market. Furthermore, increase in demand for bitcoun among banks, and financial institutions and untapped potential on emerging economies are expected to provide lucrative opportunities for the market expansion during the forecast period.
The bitcoin payment market is segmented on the basis of keys, component, application, and region. By keys, it is bifurcated into private keys and public keys. By component, it is divided into hardware, software, and services. The hardware segment is further bifurcated into hot wallet and cold wallet. By application, it is segregated into E-commerce, retail, and others. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the bitcoin payments market such as B2BinPay, Binance, Bitpay, Circle Internet Financial Limited, Coingate, Coinpayments, Inc., CoinsPaid, Moon Pay Limited, OpenNode, Paxful, Inc., Paypal, Spectro Finance OU, Utrust, VeriFone, Inc., ZebPay, CONFIRMO, and Plisio, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the bitcoin payments industry.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the bitcoin payments market analysis from 2021 to 2031 to identify the prevailing bitcoin payments market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the bitcoin payments market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global bitcoin payments market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Keys
Private Keys
Public Keys
By Component
Hardware
Software
Services
By Application
E-commerce
Retail
Others
By Region
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Rest Of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest Of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
B2BinPay
Binance
Bitpay
Circle
Coingate
Coinpayments
Coinspaid
MoonPay
OpenNode
Paxful
Paypal
SpectroCoin
Utrust
Verifone
Zebpay
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