Dublin, April 10, 2023 (GLOBE NEWSWIRE) — The “Crypto Payment Gateway Market By Type, By Application, By Operating System, By End User: Global Opportunity Analysis and Industry Forecast, 2021-2031” report has been added ResearchAndMarkets.com’s Offering.
According to the report titled “Crypto Payment Gateway Market”, the crypto payment gateway market was valued at USD 1 billion in 2021 and is projected to reach USD 5.4 billion by 2031, growing at a CAGR of 18.7% from 2022 to 2031 .
A crypto payment gateway is a payment processor for virtual currencies, similar to how payment processors, gateways and bank credit card acquisitions work.
With the use of cryptoports, users can take digital payments and get fiat money in return. Furthermore, payment gateways provide companies that take on the perceived risk of cryptocurrency payments by using their wallet(s) to facilitate transactions between merchants and their customers.
The growth of the crypto payment gateway market is driven by the increasing use of cryptocurrencies globally. In addition, it reduces processing time and accelerates transaction speed to offer convenient payment to users.
However, the market’s expansion is likely to be hampered by the instability of payment gateway software and lack of awareness about the benefits offered by cryptocurrency payment apps. In contrast, the increase in technological advancement and growing use of cloud-based trading software is likely to provide significant chances for the growth of the crypto payment gateway in the coming years.
The crypto payment gateway market is segmented by type, application, operating system, end user, and region. By type, the market is differentiated into web-based and mobile-based. By application, it is segmented into iGaming, e-stores and others. Depending on the operating system, it is fragmented into Android, iOS and others. By end user, the market is differentiated into individuals and companies. Regionally, the market is analyzed across North America, Europe, Asia-Pacific and LAMEA.
The Crypto Payment Gateway market analysis includes top companies operating in the market such as Apirone OU, Binance, BitPay, Circle Internet Financial Limited, Coinbase, Coinomi, Coinremitter, Cryptopay Ltd., NVIDIA Corporation and SecuX Technology Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the crypto payment gateway industry.
Main benefits
- The study provides an in-depth analysis of the global crypto payment gateway market along with current trends and future estimates to illustrate the forthcoming investment pockets.
- Information on key drivers, restraints, and opportunities and their impact analysis on the global Crypto Payment Gateways market size is provided in the report.
- Porter’s five forces analysis illustrates the strength of buyers and suppliers operating in the industry.
- The quantitative analysis of the global crypto payment gateway market from 2021 to 2031 is provided to determine the market potential.
Important market segments
By type
Upon application
By operating system
By end user
Market dynamics
Drivers
- Increasing need for transparency in the payment system
- Increase in the flow of money transfers from abroad
- High growth potential in developing economies
Limitations
- Lack of awareness about bitcoin among people
- Implementation of various government regulations against cryptocurrency
Possibilities
- Untapped potential in emerging economies
Companies mentioned
- Apirone OU
- Coin base
- Coinomi
- Binance
- SecuX Technology Inc.
- BitPay
- Cryptopay Ltd.
- NVIDIA Corporation (Mellanox Technologies)
- Circle Internet Financial Limited
- Coin remitter
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