Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Bitcoin Payments Market to reach USD XX billion by the end of 2029.

Global Bitcoin Payments Market Size study & Forecast, by Keys (Private Keys, Public Keys), by Component (Hardware, Software, Services), by Application (E-commerce, Retail, Others) and Regional Analysis, 2022-2029

Product Code: BFBFSI-19916691
Publish Date: 25-01-2023
Page: 200

Global Bitcoin Payments Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Bitcoin Payments gateway is a payment processor/aggregator that enables merchants to accept transactions in bitcoins. Moreover, Payment gateways act as transaction facilitators between merchants and customers for processing payments. These payment aggregators offer user-friendly interface that enables real-time transactions using mobile-based applications. The increasing expansion of cryptocurrencies and the growing acceptance of bitcoins by merchants as well as strategic initiatives from leading market players are key factors accelerating the market growth.

The increasing expansion of cryptocurrencies worldwide is contributing to the growth of the Global Bitcoin Payments Market. For instance, as per Statista – as of 2022, the revenue in the global cryptocurrencies segment is estimated at USD 34.72 billion, and the revenue is projected to show an annual growth rate of 16.43% between 2022 and 2027 to reach to a projected total amount of USD 74.30 billion by 2027. Moreover, in October 2020, Bitcoin (BTC) was priced at USD 13573.81, and it further increased to USD 19134.24 in October 2022. In addition, Bitcoin (BTC) reached all-time high value of USD 65,000 in November 2021. Also, untapped potential in developing economies and increasing demand for bitcoins from banks and financial institutions would create a lucrative growth prospectus for the market over the forecast period. However, transparency and price fluctuation issues stifle the market growth throughout the forecast period of 2022-2029.

The key regions considered for the Global Bitcoin Payments Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the large number of bitcoin holders coupled with the presence of leading bitcoin payment aggregators in the region. Whereas Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the rising popularity of cryptocurrencies and increasing penetration of leading market players in the region.

Major market player included in this report are:
Circle Inc.
Coinpayments Inc.
MoonPay Limited
Paxful Inc.

Recent Developments in the Market:
 In March 2022, Nigeria-based blockchain payments startup Basqet rolled out its cryptocurrency payments gateway to enable businesses to accept Bitcoin and other cryptocurrencies as payment.

Global Bitcoin Payments Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Keys, Component, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Keys
Private Keys
Public Keys
By Component
By Application

By Region:
North America
Asia Pacific
South Korea
Latin America
Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Bitcoin Payments Market, by Region, 2019-2029 (USD Billion)
1.2.2. Bitcoin Payments Market, by Keys, 2019-2029 (USD Billion)
1.2.3. Bitcoin Payments Market, by Component, 2019-2029 (USD Billion)
1.2.4. Bitcoin Payments Market, by Application, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Bitcoin Payments Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Bitcoin Payments Market Dynamics
3.1. Bitcoin Payments Market Impact Analysis (2019-2029)
3.1.1. Market Drivers Increasing expansion of cryptocurrencies Growing acceptance of bitcoins by merchants Strategic initiatives from leading market players
3.1.2. Market Challenges Concerns over consistency and interoperability
3.1.3. Market Opportunities Untapped potential in developing economies Increasing demand for bitcoins from banks and financial institutions
Chapter 4. Global Bitcoin Payments Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. Industry Experts Prospective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Bitcoin Payments Market, by Keys
6.1. Market Snapshot
6.2. Global Bitcoin Payments Market by Keys, Performance – Potential Analysis
6.3. Global Bitcoin Payments Market Estimates & Forecasts by Keys 2019-2029 (USD Billion)
6.4. Bitcoin Payments Market, Sub Segment Analysis
6.4.1. Private Keys
6.4.2. Public Keys
Chapter 7. Global Bitcoin Payments Market, by Component
7.1. Market Snapshot
7.2. Global Bitcoin Payments Market by Component, Performance – Potential Analysis
7.3. Global Bitcoin Payments Market Estimates & Forecasts by Component 2019-2029 (USD Billion)
7.4. Bitcoin Payments Market, Sub Segment Analysis
7.4.1. Hardware
7.4.2. Software
7.4.3. Services
Chapter 8. Global Bitcoin Payments Market, by Application
8.1. Market Snapshot
8.2. Global Bitcoin Payments Market by Application, Performance – Potential Analysis
8.3. Global Bitcoin Payments Market Estimates & Forecasts by Application 2019-2029 (USD Billion)
8.4. Bitcoin Payments Market, Sub Segment Analysis
8.4.1. E-commerce
8.4.2. Retail
8.4.3. Others
Chapter 9. Global Bitcoin Payments Market, Regional Analysis
9.1. Bitcoin Payments Market, Regional Market Snapshot
9.2. North America Bitcoin Payments Market
9.2.1. U.S. Bitcoin Payments Market Keys breakdown estimates & forecasts, 2019-2029 Component breakdown estimates & forecasts, 2019-2029 Application breakdown estimates & forecasts, 2019-2029
9.2.2. Canada Bitcoin Payments Market
9.3. Europe Bitcoin Payments Market Snapshot
9.3.1. U.K. Bitcoin Payments Market
9.3.2. Germany Bitcoin Payments Market
9.3.3. France Bitcoin Payments Market
9.3.4. Spain Bitcoin Payments Market
9.3.5. Italy Bitcoin Payments Market
9.3.6. Rest of Europe Bitcoin Payments Market
9.4. Asia-Pacific Bitcoin Payments Market Snapshot
9.4.1. China Bitcoin Payments Market
9.4.2. India Bitcoin Payments Market
9.4.3. Japan Bitcoin Payments Market
9.4.4. Australia Bitcoin Payments Market
9.4.5. South Korea Bitcoin Payments Market
9.4.6. Rest of Asia Pacific Bitcoin Payments Market
9.5. Latin America Bitcoin Payments Market Snapshot
9.5.1. Brazil Bitcoin Payments Market
9.5.2. Mexico Bitcoin Payments Market
9.5.3. Rest of Latin America Bitcoin Payments Market
9.6. Rest of The World Bitcoin Payments Market

Chapter 10. Competitive Intelligence
10.1. Top Market Strategies
10.2. Company Profiles
10.2.1. Binance Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
10.2.2. Bitpay
10.2.3. Circle Inc
10.2.4. Coingate
10.2.5. Coinpayments Inc
10.2.6. Coinspaid
10.2.7. MoonPay Limited
10.2.8. OpenNode
10.2.9. Paxful Inc
10.2.10. PayPal
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com


Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now