DUBLIN, Feb. 7, 2024 /PRNewswire/ — The “U.S. Cryptocurrency Payment Apps Market Size, Share & Trends Analysis Report by Cryptocurrency Type (Bitcoin, Ethereum), Operating System (iOS, Android), Payment Type, End-user, and Segment Forecasts, 2023-2030″ report has been added to ResearchAndMarkets.com’s offering.
The U.S. cryptocurrency payment apps market size is anticipated to reach USD 418.5 million by 2030, growing at a CAGR of 17.0% from 2023 to 2030. A primary driver of the market growth is the desire for greater financial privacy. Cryptocurrencies offer a level of anonymity that is not achievable through traditional payment methods. As concerns about data privacy and security grow, more users are turning to cryptocurrency apps to maintain their financial privacy and security. This demand for enhanced privacy options is propelling the growth of cryptocurrency payment apps.
Furthermore, the U.S. market is experiencing growth due to the increasing integration of cryptocurrencies with online businesses. E-commerce platforms are recognizing the benefits of offering cryptocurrency payment options, such as reduced fraud, lower transaction costs, and access to a global customer base. As e-commerce continues to expand, the demand for cryptocurrency payment solutions is set to rise.
Finally, the regulatory environment is also playing a role in shaping the market. Regulatory clarity, while still evolving, provides a framework that can help legitimize the use of cryptocurrencies in payments. As regulatory oversight becomes more established and clearer, it can reduce uncertainty, encourage trust, and attract more users and businesses to the market.
The COVID-19 pandemic had a positive impact on the U.S. market by accelerating the adoption of digital payment solutions and increasing the need for contactless transactions. With lockdowns and social distancing measures in place, consumers and businesses alike sought alternatives to physical cash and in-person transactions. Cryptocurrency payment apps, with their contactless and decentralized nature, became an attractive option during these times.
Key Market Dynamics
Market Drivers
- Increasing demand for cryptocurrency payment option
- Growing demand for easier and faster digital payment transactions
Market Challenges
- Concerns regarding security, privacy, and control
Market Opportunities
- Growing adoption by businesses
U.S. Cryptocurrency Payment Apps Market Report Highlights
- The Bitcoin segment dominated the market in 2022. Bitcoin‘s liquidity and market capitalization are unparalleled, making it readily available for transactions and investments. It boasts the largest user base among all cryptocurrencies, increasing its acceptance in payment apps
- In terms of payment type, the in-store payment segment dominated the market in 2022. The integration of in-store payment apps with loyalty programs, cashback incentives, and special promotions also augments their appeal. Users are encouraged to transact with cryptocurrencies by taking advantage of these perks, further fueling the growth of in-store payment solutions
- Based on operating system, the Android segment dominated the market in 2022. Android’s flexibility and adaptability are valuable in the cryptocurrency landscape. It supports a variety of digital wallets, providing users with a seamless experience when managing their cryptocurrencies and conducting transactions. The ability to incorporate various payment apps and wallets within the Android ecosystem offers users diverse options and control over their cryptocurrency assets
- In terms of end-users, the businesses segment dominated the market in 2022. Cryptocurrency payment apps tailored to the needs of businesses offer advanced features and functionalities, like accounting integration, invoicing capabilities, and multi-signature authorization, making them a practical choice for companies of all sizes
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
2.1. Market Outlook
2.2. Segmental Outlook
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Impact Analysis
3.3.1.1. Increasing demand for cryptocurrency payment option
3.3.1.2. Growing demand for easier and faster digital payment transactions
3.3.2. Market Challenge Impact Analysis
3.3.2.1. Concerns regarding security, privacy, and control
3.3.3. Market Opportunity Impact Analysis
3.3.3.1. Growing adoption by businesses
3.4. Impact of COVID-19 Pandemic
3.5. Industry Analysis Tools
3.6. U.S. Cryptocurrency Payment Apps Market Size (Transaction Volume, USD Billion), Forecast and Trend Analysis, 2017-2030
Chapter 4. U.S. Cryptocurrency Payment Apps Market: Cryptocurrency Type Estimates & Trend Analysis
4.1. Cryptocurrency Type Movement Analysis & Market Share, 2022 & 2030
4.2. U.S. Cryptocurrency Payment Apps Market Estimates & Forecast, By Cryptocurrency Type
4.2.1. Bitcoin
4.2.2. Ethereum
4.2.3. Litecoin
4.2.4. DAI
4.2.5. Ripple
4.2.6. Others
Chapter 5. U.S. Cryptocurrency Payment Apps Market: Payment Type Estimates & Trend Analysis
5.1. Payment Type Movement Analysis & Market Share, 2022 & 2030
5.2. U.S. Cryptocurrency Payment Apps Market Estimates & Forecast, By Payment Type
5.2.1. In-store Payment
5.2.2. Online Payment
Chapter 6. U.S. Cryptocurrency Payment Apps Market: Operating System Estimates & Trend Analysis
6.1. Operating System Movement Analysis & Market Share, 2022 & 2030
6.2. U.S. Cryptocurrency Payment Apps Market Estimates & Forecast, By Operating System
6.2.1. iOS
6.2.2. Android
6.2.3. Others
Chapter 7. U.S. Cryptocurrency Payment Apps Market: End User Estimates & Trend Analysis
7.1. End User Movement Analysis & Market Share, 2022 & 2030
7.2. U.S. Cryptocurrency Payment Apps Market Estimates & Forecast, By End User
7.2.1. Individuals
7.2.2. Businesses
Chapter 8. Competitive Landscape
- Coinbase Global
- BitPay
- Coinomi
- Ripple
- SecuX Technology
- Circle Internet Financial Limited
- Binance
- Cryptopay
- Crypto.com
- CoinPayments
For more information about this report visit https://www.researchandmarkets.com/r/n890s2
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