Cryptocurrency Payment Apps Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Cryptocurrency Payment Apps Market was valued at USD 791.8 million in 2023 and is expected to grow at a CAGR of approximately 13% from 2024 to 2032. This growth is largely driven by the increasing use of digital currencies for day-to-day transactions. As more consumers and businesses embrace cryptocurrencies, the demand for smooth and efficient payment solutions continues to rise. Technological advancements, such as enhanced user interfaces and integration with traditional financial systems, are making cryptocurrency transactions more accessible and practical, which in turn fuels market expansion.

Additionally, the growing focus on financial inclusion and the rise of digital banking solutions are accelerating market growth. With more people gaining access to smartphones and online banking, digital currencies are becoming increasingly accessible. The widespread use of digital wallets and the integration of cryptocurrencies into traditional banking services are also promoting the adoption of digital currencies, allowing more users to participate in cryptocurrency transactions and boosting the overall market reach.

In terms of platforms, the market is segmented into mobile apps, web-based platforms, and others. In 2023, the mobile apps segment held over 61% of the market share. These apps are incorporating advanced security features like biometric authentication and encryption to enhance user safety. With users prioritizing secure transactions, these apps are adopting multi-layered security systems to prevent fraud and unauthorized access, which helps build user trust and fosters the broader adoption of cryptocurrency payments through mobile platforms.

On the end-user front, the market is divided into individual consumers and businesses. In 2023, individual consumers made up around 74% of the market. As cryptocurrencies become more mainstream for everyday spending and investments, there is a rising demand for easy-to-use and seamless payment solutions. Simplified interfaces and mobile-focused designs are becoming essential, allowing users to effortlessly manage their digital assets.

Regionally, North America led the global cryptocurrency payment apps market, holding around 36% of the market share in 2023. The region's growing focus on integrating cryptocurrency payment apps with traditional financial systems is enhancing user experience and adoption. By bridging the gap between digital assets and fiat currencies, these integrations offer users more accessible ways to manage their cryptocurrency transactions, encouraging broader acceptance across both consumers and businesses.

Product Code: 10969

Table of Content

Chapter 1 Methodology and Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research and validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Blockchain infrastructure providers
- 3.2.2 Cryptocurrency developers
- 3.2.3 Payment gateway providers
- 3.2.4 App developers
- 3.2.5 End users
3.3 Profit margin analysis
3.4 Technology and innovation landscape
3.5 Patent analysis
3.6 Parent and child market difference
- 3.6.1 Comparison with broader digital payments market
- 3.6.2 Identification of specific crypto payment app segments/niches
- 3.6.3 Differences from traditional digital payment methods
3.7 Key news and initiatives
3.8 Regulatory landscape
3.9 Impact forces
- 3.9.1 Growth drivers
  - 3.9.1.1 Increasing cryptocurrency adoption for transactions
  - 3.9.1.2 Expanding merchant acceptance of digital currencies
  - 3.9.1.3 Technological advancements in blockchain and security
  - 3.9.1.4 Rising demand for low-cost cross-border payments
- 3.9.2 Industry pitfalls and challenges
  - 3.9.2.1 Regulatory uncertainties causing market volatility
  - 3.9.2.2 High transaction fees for certain cryptocurrencies
3.10 Growth potential analysis
3.11 Porter's analysis
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates and Forecast, By Platform , 2021 - 2032 ($Mn)

5.1 Key trends
5.2 Mobile apps
5.3 Web-Based platforms
5.4 Others

Chapter 6 Market Estimates and Forecast, By Cryptocurrency , 2021 - 2032 ($Mn)

6.1 Key trends
6.2 Bitcoin
6.3 Ethereum
6.4 Litecoin
6.5 Ripple
6.6 others

Chapter 7 Market Estimates and Forecast, By Functionality , 2021 - 2032 ($Mn)

7.1 Key trends
7.2 Peer-to-peer transfers
7.3 Merchant payments
7.4 Bill payments
7.5 Others

Chapter 8 Market Estimates and Forecast, By Application, 2021 - 2032 ($Mn)

8.1 Key trends
8.2 E-commerce
8.3 Retail
8.4 Travel and hospitality
8.5 Gaming
8.6 Others

Chapter 9 Market Estimates and Forecast, By End User, 2021 - 2032 ($Mn)

9.1 Key trends
9.2 Individual consumers
9.3 Businesses

Chapter 10 Market Estimates and Forecast, By Region, 2021 - 2032 ($Mn)

10.1 Key trends
10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
10.3 Europe
- 10.3.1 UK
- 10.3.2 Germany
- 10.3.3 France
- 10.3.4 Spain
- 10.3.5 Italy
- 10.3.6 Russia
- 10.3.7 Nordics
- 10.3.8 Rest of Europe
10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 Australia
- 10.4.6 Southeast Asia
- 10.4.7 Rest of Asia Pacific
10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Argentina
- 10.5.4 Rest of Latin America
10.6 MEA
- 10.6.1 UAE
- 10.6.2 South Africa
- 10.6.3 Saudi Arabia
- 10.6.4 Rest of MEA

Chapter 11 Company Profiles

11.1 Alipay
11.2 Binance
11.3 BitPay
11.4 Bitstamp
11.5 Blockchain.com
11.6 Cash App (by Square)
11.7 Circle
11.8 Coinbase
11.9 CoinGate
11.10 Coinomi
11.11 CoinPayments
11.12 Crypto.com
11.13 Gate.io
11.14 Gemini
11.15 KuCoin
11.16 MetaMask
11.17 Trust Wallet
11.18 WeChat Pay
11.19 Wirex
11.20 Worldline