Global Bitcoin Payments Market Analysis 2024 – Estimated Market Size And Key Drivers

The Bitcoin Payments Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Bitcoin Payments Market:
https://www.thebusinessresearchcompany.com/report/bitcoin-payments-global-market-report

According to The Business Research Company’s Bitcoin Payments Global Market Report 2024, The bitcoin payments market size has grown rapidly in recent years. It will grow from $990.18 billion in 2023 to $1,071.42 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to rise in the need for transparency in the payment system, increasing acceptance by vendors, merchants, and consumers for digital payments, increasing adoption of digital ledger, the rise of the lightning network, and increasing number of crypto automated teller machines (ATMs) and mobile wallets.

The bitcoin payments market size is expected to see rapid growth in the next few years. It will grow to $1,903.20 billion in 2028 at a compound annual growth rate (CAGR) of 15.4%. The growth in the forecast period can be attributed to rise in smartphone penetration, growing demand for low-cost and secure payments, growing awareness of bitcoin and its use cases, increasing number of initial coin offerings (ICOs), and increasing number of bitcoin payment processors. Major trends in the forecast period include advances in hardware and software wallets, innovation in payment technologies, technology advancements, innovative blockchain distributed technology protocols, and innovative payment processors.

The increase in popularity of crypto ATMs is expected to propel the growth of Bitcoin payments going forward. A crypto ATM (cryptocurrency automated teller machine), often called a Bitcoin ATM, is an electronic kiosk that enables users to buy or sell cryptocurrencies using cash or debit/credit cards. The increasing number of crypto ATMs is due to several factors, such as a rise in interest and investment in cryptocurrencies, convenience and accessibility, and a growing variety of supported cryptocurrencies. Bitcoin payments, facilitated by crypto ATMs and mobile wallets, offer unparalleled convenience and accessibility compared to traditional financial systems, allowing users to quickly buy, sell, or transfer Bitcoin using cash or their smartphones without requiring lengthy registration processes or bank accounts. For instance, in April 2024, CryptoNews, a Lithuania-based company that offers a news website that provides comprehensive coverage of the crypto and blockchain industry, in Australia, had an active network of 1,008 Bitcoin ATMs, representing 2.7% of the global crypto ATM distribution. Furthermore, in July 2021, according to BitcoinWorld, a US-based company involved in cryptocurrency and blockchain technology, Crypto ATM installations in 2021 increased by 71.73%. Therefore, the increase in popularity of crypto ATMs and mobile wallets is driving the growth of the Bitcoin payments market.

Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=18260&type=smp

The bitcoin payments market covered in this report is segmented –

1) By Component: Hardware, Software, Services
2) By Keys: Private Keys, Public Keys
3) By Application: E-Commerce, Retail, Other Applications

Major companies operating in the bitcoin payments market are focused on developing innovative solutions such as token pay to enhance transaction efficiency and security and offer more integrated payment options within the cryptocurrency ecosystem. TokenPay (TPAY) is a decentralized cryptocurrency that enhances privacy and security in digital transactions. It integrates advanced cryptographic protocols to ensure secure and anonymous transactions. For instance, in July 2024, OrdinalsBot, a US-based private enterprise specializing in Bitcoin, launched TokenPay to expand payment options for on-chain activities. It allows users to pay for on-chain activities using various cryptocurrencies and Bitcoin. It aims to attract a wider audience and make it easier for users to participate in on-chain activities related to Ordinals. This expansion of payment options aims to provide more flexibility and convenience for OrdinalsBot’s users and contribute to the adoption and development of the Ordinals protocol on the Bitcoin blockchain.

The bitcoin payments market report table of contents includes:

1. Executive Summary
2. Bitcoin Payments Market Characteristics
3. Bitcoin Payments Market Trends And Strategies
4. Bitcoin Payments Market – Macro Economic Scenario
5. Global Bitcoin Payments Market Size and Growth
.
.
.
32. Global Bitcoin Payments Market Competitive Benchmarking
33. Global Bitcoin Payments Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Bitcoin Payments Market
35. Bitcoin Payments Market Future Outlook and Potential Analysis
36. Appendix

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293

Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model