Bitcoin Technology Trends and Forecasts (2015 – 2020)

Research and Markets has recently announced that it has added the “Global Bitcoin Technology Market – Market Trends and Forecasts (2015 – 2020)” report to their offering.

The report released in September last year estimates that the Global Bitcoin Technology Market is expected to grow at a CAGR of 7.26% over the period 2015 – 2020.

It explained that the global Bitcoin technology market has been categorized on the basis of denominations used (bitcoin (BTC), millibitcoin (mBTC), microbitcoin (uBTC) and satoshi); services offered (bitcoin exchanges, remittance services, and payment & wallet services); industry verticals (mining, banking and financial services, entertainment and media) and geography.

“Bitcoin, have paved the way for increased mainstream acceptance for the digital currency, which even has the potential for transforming global financial transactions”, the report’s description page reads. “In current scenario, most of the online merchants and startup companies have already started enjoying the anonymity and efficiency of bitcoin payments, which allows them to cut overhead costs compared to credit or debit cards transactions.”

The report said that bitcoin technologies is gaining traction due to booming economy and rising disposable income among middle income group in developing countries. Moreover, owing to large number of bitcoin users, the market will witness growth in the North America region.