Global Bitcoin Technology Market Study 2019 | Market Projected to Exhibit a CAGR of 8.3% - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 21, 2019--
The “Bitcoin Technology Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The bitcoin technology market is estimated to grow at a CAGR of 8.3% over the forecast period 2019-2024.
Due to zero risk of inflation, bitcoin is trending over the years. Bitcoin system was created with the sole purpose of being finite. Thus, without the possibilities of issuing excess currency, the threat of inflation comes down to almost zero. This point benefits both the seller and the buyer.
Transaction fees for bitcoin payments are significantly lower in comparison to the ones made for credit and debit card purchases. This feature is an advantage for SMEs as they have a limited budget. There is no fee to receive bitcoins, and many wallets let the user control how large a fee to pay when spending. Higher fees can encourage faster confirmation of a transaction.
Bitcoin mining has caused huge burden on the climate. According to the Technical University of Munich, in 2018 bitcoin emitted over 22 megatonnes of carbon dioxide annually, comparable to the total emissions of cities such as Las Vegas and Vienna.
Key Market Trends
BFSI to Occupy the Largest Market Share
North America to Witness the Highest Growth
The market is fragmented with startups coming up in last 5 years which are offering commercial activities related to bitcoin. In the current scenario, most of the online merchants have started enjoying the anonymity and efficiency of bitcoin payments, which allows them to cut overhead costs compared to credit or debit cards transactions.
Key Topics Covered
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Introduction to Market Drivers and Restraints
4.3 Market Drivers
4.3.1 Lower Transaction Fees as Compared to Other Methods is Causing the Market to Grow
4.4 Market Restraints
4.4.1 Negative Impact of Bitcoin Mining on Environment is Discouraging the Market Growth
4.5 Industry Attractiveness - Porter’s Five Force Analysis
5 MARKET SEGMENTATION
5.1 By Service
5.1.2 Remittance Services
5.1.3 Payment & Wallet
5.2 By End-user Vertical
5.2.3 Media & Entertainment
5.3.1 North America
5.3.4 Rest of the World
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/6ap7zf
View source version on businesswire.com:https://www.businesswire.com/news/home/20191121005640/en/
Laura Wood, Senior Press Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
INDUSTRY KEYWORD: PROFESSIONAL SERVICES TECHNOLOGY OTHER PROFESSIONAL SERVICES OTHER TECHNOLOGY FINANCE BANKING
SOURCE: Research and Markets
Copyright Business Wire 2019.
PUB: 11/21/2019 10:06 AM/DISC: 11/21/2019 10:06 AM