The Worldwide Cryptocurrency-based Payment Card Market size was valued at $0.70 billion in 2020 and is projected to reach $9.50 billion by 2030, growing at a CAGR of 31.6% from 2021 to 2030
Crypto Asset Management is a platform that allows users to integrate various assets into one platform. This allows investors to manage multiple wallets and accounts in one place, giving them the advantage of improving their portfolios. It also makes life easier for newcomers and experienced traders to manage their growing crypto assets. Crypto asset management tools also facilitate the process of crypto buying, trading, accounting, and spending. Additionally, more and more cryptocurrency platforms across the globe are driving the growth of the cryptocurrency-based payment card market.
Market Dynamics:
Drivers:
Increasing cryptocurrency investment and adoption by financial institutions and large enterprises and increasing digitalization are driving the growth of the global cryptocurrency asset management market. In addition, streamlining the cryptocurrency purchasing process will have a positive impact on the growth of the cryptocurrency asset management market.
Restraints:
However, factors such as a lack of understanding of cryptocurrencies and a lack of regulatory framework are expected to hinder the growth of the cryptocurrency-based payment card market. Conversely, increasing cryptocurrency adoption in several industries such as BFSI, healthcare, and IT is expected to provide conservative opportunities for cryptocurrency-based payment card market expansion during the forecast period.
Key players:
Market Segmentation:
Cryptocurrency-based Payment Card Market, By Offering
Cryptocurrency-based Payment Card Market, By Application
Cryptocurrency-based Payment Card Market, By End User
Cryptocurrency-based Payment Card Market, By Deployment Mode
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Cloud
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On-premises
Cryptocurrency-based Payment Card Market, By Region
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North America
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U.S.
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Canada
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Europe
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UK
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Germany
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France
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Italy
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Spain
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Netherlands
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Rest of Europe
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Asia-Pacific
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China
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Japan
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India
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Australia
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South Korea
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Rest of Asia-Pacific
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LAMEA
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Latin America
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Middle East
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Africa
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Regional Analysis:
North America is projected to hold the largest share in the global crypto payment gateways market, owing to the high popularity of cryptocurrencies and the adoption and presence of major players in the region. Governments actually pay cash by consumers as well, but many developing countries still focus on using digital currencies. Acceptance of digital cash by consumers and retailers is driving cryptocurrency-based payment card market growth. Moreover, the growing popularity of cryptocurrency mining and the presence of major players in the region also fuel the market growth. For example, PayPal is a US-based company that operates in online payment systems. On October 21, 2020, I entered the cryptocurrency market. Announced that customers can use their PayPal accounts to buy and sell cryptocurrencies and other virtual currencies.
The Asia Pacific region is expected to witness the fastest growth in the global cryptocurrency payment gateway market owing to increasing technological developments and growing acceptance of cryptocurrencies in the region. Additionally, increasing partnership and collaboration activities among market players in the region are fueling the market growth as well.
Scope Of the Report:
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Report Attribute |
Details |
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Market size available for years |
2022 – 2030 |
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Base year considered |
2021 |
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Historical data |
2018 – 2021 |
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Forecast Period |
2022 – 2030 |
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Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
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Segments Covered |
Types, Applications, End-Users, and more. |
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Report Coverage |
Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, and Trends |
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Regional Scope |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
User
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Introduction
Our market research is an extensive, iterative process that takes into account a combination of primary and secondary research tools with the aim of minimizing deviation and producing the most precise estimate and prediction. For the future course of action, this approach meticulously outlines the actual changes and industry trends. It gives incredibly valuable data that is drawn from the insights and opinions of analysts and professionals. Our papers include in-depth research and analysis based on several factual inputs obtained from expert interviews, accurate data, and local information.
Market Size Estimation
The overall size of the market has been estimated and validated using both top-down and bottom-up methods. The sizes of other market subsegments have also been thoroughly estimated using these methodologies.
In the top-down technique, the market is divided into segments based on the percentage share of each segment. This method assisted in determining the size of each segment's market. The market size of each segment and its sub-segments was then divided into regional market sizes. This Approach helps mainly with the new Product Launch. It uses Multi-variate Regression Model coupled with Vendor based primary research inputs to forecast to the Market Size.
In the Bottom-Up approach, comprehensive study of key players has to be done wherein we add the market size of the major key players to understand the national market size which helps to determine the regional market size and eventually the complete market size. Companies annual report along with data from paid and unpaid resources like reports from government agencies and organizations like world bank provide the data for this approach.
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