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The report titled Bitcoin Market which was recently added by Kenneth Research, aims at providing the clients with the business growth and investment opportunities present in the market globally. Further, the market is evaluated on various parameters that is covered in the report and further includes market size, market volume and the growth rate over the forecast period, i.e., 2022-2031 . The market is further anticipated to grow with a robust CAGR throughout the forecast period.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Bitcoin Market Products.
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In Canada, the ICT sector consists of around 41,500 companies. Out of these, over 37,000 companies fall under software and computer services industry, resulting in around 89.8% of key players in the ICT industry to be involved in software and computer services. On the other hand, in the year 2018, as per the statistics of the Canadian ICT Sector Profile, released by the Government of Canada, ICT wholesaling, communications services and ICT manufacturing contributes to 4.5%, 3.4% and 2.2% share respectively in the country.
The report covers the forecast and analysis of the Bitcoin market on a global and regional level. The study provides historical data from 2013 to 2018 along with a forecast from 2019 to 2027 based on revenue (USD Million). The study includes drivers and restraints of the Bitcoin Market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Bitcoin market on a global level.
In order to give the users of this report a comprehensive view of the Bitcoin market, we have included a competitive landscape and an analysis of Porter's Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product & service launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the market on a global and regional basis.
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. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
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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.
Some of the key participants in the business include Airbitz, ANX, Avalon Life S.A., BitGo, BitPay, BitPesa, Bitstamp Ltd., BITWAGE, INC., Bitwala, Blockstream, Inc., Circle Internet Financial Limited, Coinbase, Coinify ApS, Ethereum Foundation, nChain Group, Nvidia Corporation, R3 Consortium (Ripple), Uphold, Inc., and Xapo, Inc.
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About Kenneth Research:
Kenneth Research is a multi-client market research database that aims at providing reports that help industry professionals including various individuals and organizations to identify the market trends and scope, thereby making it easier for them to take decisions and form strategies after complete assessment of the market. The various industries catered by the company include healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defence and several others. Being a global market research reselling firm, Kenneth Research provides strategic business consultancy services at a global level and offers a single platform for the best market research reports.
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