DUBLIN – The global bitcoin market size is expected to reach USD 132.91 billion by 2030, growing at a CAGR of 26.2% from 2022 to 2030, according to this study conducted.

The growing acceptance of cryptocurrencies globally, owing to the numerous advantages associated with them, such as decentralization and ease of exchange, is expected to drive the bitcoin market over the forecast period. Additionally, the payment service providers’ significant emphasis on delivering better payment solutions promotes the industry’s expansion.

Market players are investing in new and innovative product development to establish the Bitcoin market. For instance, in June 2022, Proshares, an issuer of Exchange-Traded Funds (ETFs), introduced the first ever short Bitcoin-linked ETF. It is specifically designed to help investors profit from price dips in cryptocurrency.

Several crypto exchanges are expanding their operational reach to grab the opportunity to capture the growing market of Bitcoin and cryptocurrency. For instance, in March 2022, Coinbase planned to expand its footprint in European markets, which is in line with the two-pronged growth strategy.

In 2020, the COVID-19 pandemic led to the global economic crisis, which significantly contributed to the growth of the bitcoin market. The outbreak led to a financial crisis, which resulted in currency devaluation. On the other hand, a spike in Bitcoin trading volume was observed during the significant currency devaluation. In times of crisis, residents shift to safe assets, and the Bitcoin trade picks up.

Bitcoin Market Report Highlights

  • The exchange segment is expected to dominate over the forecast period owing to the large volumes traded on the exchanges every day and the growing popularity of bitcoin as an alternative investment option
  • The BFSI segment is anticipated to dominate the market over the forecast period. The rapid adoption of cryptocurrencies among financial institutions owing to the unique opportunities such as the revolution in payment services is expected to drive growth
  • The Asia Pacific regional market is expected to witness the fastest CAGR over the forecast period. The growing prevalence of crypto-based startups and decentralized finance (Defi) projects in countries such as Singapore and the Philippines is expected to boost the regional growth

Key Topics Covered:

Chapter 1 Methodology and Scope

Chapter 2 Executive Summary

Chapter 3 Bitcoin Industry Outlook
3.1 Market Segmentation and Scope
3.2 Market Size and Growth Prospects
3.3 Bitcoin- Value Chain Analysis
3.4 Bitcoin Market – Market Dynamics
3.4.1 Market driver analysis
3.4.1.1 Utilization of Bitcoin as a medium of exchange
3.4.1.2 Bitcoin’s pioneering status
3.4.2 Market challenge analysis
3.4.2.1 Regulatory concerns
3.5 Penetration and Growth Prospect Mapping
3.6 Bitcoin Market – Porter’s Five Forces Analysis
3.7 Bitocin Market – PESTEL Analysis

Chapter 4 Investment Landscape Analysis
4.1 Investor Strategies
4.2 Investor Vision & Goal Analysis
4.3 Funding Raised in Voice Assistant Devices
4.4 Investments Made in Self-checkout Stores

Chapter 5 Bitcoin Application Outlook
5.1 Bitcoin Market Share By Application, 2021
5.2 Exchanges
5.2.1 Exchanges bitcoin market, 2017 – 2030
5.3 Remittance Services
5.3.1 Remittance Services bitcoin market, 2017 – 2030
5.4 Payment & Wallet
5.4.1 Payment & Wallet bitcoin market, 2017 – 2030

Chapter 6 Bitcoin End-use Outlook
6.1 Bitcoin Market Share By End-use, 2021
6.2 BFSI
6.2.1 Bitcoin market in BFSI, 2017 – 2030
6.3 E-commerce
6.3.1 Bitcoin market in E-commerce, 2017 – 2030
6.4 Media & Entertainment
6.4.1 Bitcoin market in media & entertainment, 2017 – 2030
6.5 Others
6.5.1 Bitcoin market in others, 2017 – 2030

Chapter 7 Bitcoin Regional Outlook

Chapter 8 Competitive Analysis
8.1 Recent Developments & Impact Analysis, By Key Market Participants
8.2 Company Categorization
8.3 Vendor Landscape
8.3.1 Key company market share analysis, 2021
8.4 Company Analysis Tools
8.4.1 Company market position analysis
8.4.2 Competitive dashboard analysis

Chapter 9 Competitive Landscape
9.1 Blockstream Corporation Inc.
9.1.1 Company overview
9.1.2 Financial performance
9.1.3 Product benchmarking
9.1.4 Strategic initiatives
9.2 Coinbase Inc.
9.2.1 Company overview
9.2.2 Financial performance
9.2.3 Product benchmarking
9.2.4 Strategic initiatives
9.3 Coinfy ApS
9.3.1 Company overview
9.3.2 Financial performance
9.3.3 Product benchmarking
9.3.4 Strategic initiatives
9.4 Unocoin Technologies Pvt Limited.
9.4.1 Company overview
9.4.2 Financial performance
9.4.3 Product benchmarking
9.4.4 Strategic initiatives
9.5 Bitstamp Ltd.
9.5.1 Company overview
9.5.2 Financial performance
9.5.3 Product benchmarking
9.5.4 Strategic initiatives
9.6 itBit Trust Company LLC
9.6.1 Company overview
9.6.2 Financial performance
9.6.3 Product benchmarking
9.6.4 Strategic initiatives
9.7 Blockchain Luxembourg SA
9.7.1 Company overview
9.7.2 Financial performance
9.7.3 Product benchmarking
9.7.4 Strategic initiatives
9.8 Kraken (Payward Inc.)
9.8.1 Company overview
9.8.2 Financial performance
9.8.3 Product benchmarking
9.8.4 Strategic initiatives
9.9 BitPay Inc.
9.9.1 Company overview
9.9.2 Financial performance
9.9.3 Product benchmarking
9.9.4 Strategic initiatives
9.10 Plutus Financial Inc. (ABRA)
9.10.1 Company overview
9.10.2 Financial performance
9.10.3 Product benchmarking
9.10.4 Strategic initiatives

Source: Research and Markets