Global Crypto Payment Gateway Market Is Expected to Reach $5.4 Billion by 2031: Says AMR
Increase in flow of remittances from foreign countries and rise in need for transparency in the payment system drive the growth of the global crypto payment gateway market. By application, the iGaming segment held the major share in 2021. By region, on the other hand, Europe would cite the fastest CAGR by 2031.
Portland, OR, Feb. 01, 2023 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global crypto payment gateway market was estimated at $1.00 billion in 2021 and is expected to hit $5.4 billion by 2031, registering a CAGR of 18.7% from 2022 to 2031. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.
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Report coverage & details:
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $1.00 Billion |
| Market Size in 2031 | $5.4 Billion |
| CAGR | 18.7% |
| No. of Pages in Report | 275 |
| Segments Covered | Type, Application, Operating System, End User, and Region. |
| Drivers | Increase in need for transparency in payment system |
| Rise in flow of remittances from foreign countries High potential for growth in developing countries | |
| Restraints | Lack of awareness about cryptocurrencies among people |
| Unfavorable regulations against cryptocurrencies | |
| Opportunities | Untapped potential in emerging countries |
Covid-19 scenario-
- Owing to an increase in requirement to communicate financial information with customers during the COVID-19 pandemic, there has been a noticeable surge in the usage of digital currencies by banks and financial organizations during the pandemic which impacted the global crypto payment gateway market positively.
- Banks and the fintech sector were becoming increasingly interested in using cryptocurrencies to improve their operational processes and offer secure contactless payments that would accelerate the payment transaction process.
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The global crypto payment gateway market is analyzed across type, application, operating system, end user, and region. The report takes in an exhaustive analysis of the segments and their sub-segments with the help of tabular and graphical representation. Investors and market players can benefit from the breakdown and devise stratagems based on the highest revenue-generating and fastest-growing segments stated in the report.
By type, the web-based segment held the largest share in 2021, garnering more than half of global crypto payment gateway market revenue, and is projected to maintain its dominance by 2031. The mobile-based segment, on the other hand, would showcase the fastest CAGR of 20.6% during the forecast period.
By application, the iGaming segment contributed to nearly two-third of the global crypto payment gateway market share in 2021, and is projected to rule the roost by 2031. The e-stores segment, simultaneously, would display the fastest CAGR of 21.1% throughout the forecast period.
By operating system, the android segment accounted for the highest share in 2021, generating nearly two-third of the global crypto payment gateway market revenue. The iOS segment, simultaneously, would portray the fastest CAGR of 22.6% during the forecast period.
By end user, the business segment accounted for the highest share in 2021, generating more than half of the global crypto payment gateway market revenue. The individual segment, simultaneously, would portray the fastest CAGR of 22.3% during the forecast period
By region, the market across Asia-Pacific held the major share in 2021, garnering nearly two-fifths of the global crypto payment gateway market. Europe, on the other hand, would showcase the fastest CAGR of 22.7% from 2022 to 2031.
The key market players analyzed in the global crypto payment gateway market report include Apirone OÜ, Binance, BitPay, Circle Internet Financial Limited, Coinbase, Coinomi, Coinremitter, Cryptopay Ltd., NVIDIA Corporation, and SecuX Technology Inc. These market players have embraced several strategies including partnership, expansion, collaboration, joint ventures, and others to highlight their prowess in the industry. The report is helpful in formulating the business performance and developments by the top players.
Key benefits for stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the data analytics in banking market analysis from 2021 to 2031 to identify the prevailing crypto payment gateway market opportunity.
- The market research is offered along with information related to key drivers, restraints, and opportunities in the crypto payment gateway market forecast.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the crypto payment gateway market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global crypto payment gateway market trends, key players, market segments, application areas, and market growth strategies.
Crypto Payment Gateway Market Key Segments:
Type
- Web-based
- Mobile-based
Application
- iGaming
- E-Stores
- Others
Operating System
- Android
- iOS
- Others
End User
- Individual
- Business
By Region
- North America (U.S., Canada)
- Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
- Asia-Pacific (Japan, India, Australia, South Korea, Thailand, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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