Digital Payment Market 2021 Size, Share, Current Trends, Growth Analysis and Plans, Investment and Forecast to 2028

 The global Digital Payment Market is expected to grow from US$ 89,045.67 million in 2021 to US$ 243,426.71 million by 2028; global digital payment market is estimated to grow at a CAGR of 15.4% from 2021 to 2028.

The growth of the digital payment market is essential for a country's economy as it can enhance productivity, transparency, tax collection, financial inclusion, and create new economic opportunities. The expansion of digital payment methods across the globe is driving the growth of the digital payment market. Online merchants providing incentives such as point of sale and discounts encourage customers to adopt digital payment methods, further driving demand. The rapid evolution of e-commerce, mobile payment technologies, and the increasing popularity of mobile wallets are key factors propelling the growth of the digital payment market. Governments worldwide are also taking initiatives to promote digital payments, which supports economic growth and benefits consumers in various countries.

Get a Sample PDF of report at- https://www.premiummarketinsights.com/sample/TIP00021711

The List of companies - Digital Payment Market

1.       ACI WORLDWIDE, INC

2.       ADYEN

3.       FINANCIAL SOFTWARE & SYSTEMS PVT. LTD.

4.       FISERV, INC.

5.       GLOBAL PAYMENTS INC.

6.       NOVATTI GROUP LTD

7.       PAYPAL HOLDINGS, INC.

8.       PAYSAFE LIMITED

9.       BLOCK, INC.

10.   PAYU

The digital payment market is segmented into five key regions-North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). North America held the largest revenue share in 2020, followed by Europe and APAC.

The growth of mobile commerce is directly influenced by the way people access the internet. Due to affordability and widespread availability of high-speed internet in many countries, users prefer smartphones for internet surfing over PCs. As a result, retailers have developed shopping applications that offer easy-to-browse catalogs and a seamless checkout experience. Payment service providers and banks have also taken advantage of customers' attachment to their mobile phones by providing banking apps that enable transactions to be completed on mobile device screens. Furthermore, the rise of mobile commerce has transformed the way brick-and-mortar businesses operate, particularly in their acceptance of cashless payments. All of these factors are driving the growth of the digital payment market. For instance, Apple Pay, Samsung Pay, and Google Pay are among the leading competitors in Europe, where they compete with the market leaders in their respective countries. In China, the rise of mobile payment has been inconsistent, with a few prominent payment services, such as AliPay, WeChat, and LinePAY, leading to the growth of the digital payment market.

Inquire Before Buying@: https://www.premiummarketinsights.com/inquiry/TIP00021711

On the basis of component, the digital payment market is bifurcated into solution and services. The solution segment contributed a larger revenue share in 2020. This is because the solution segment includes various payment software and tools that are essential for conducting digital transactions, such as payment gateways, payment processing software, fraud detection and prevention systems, and point-of-sale (POS) terminals. These solutions play a critical role in enabling secure and efficient digital transactions, which is the primary goal of the digital payment market. As a result, the demand for digital payment solutions has increased rapidly in recent years, especially with the growing adoption of digital payments across various industries and sectors. On the basis of deployment, the digital payment market is bifurcated into on-premise and cloud-based. The cloud-based segment held a larger revenue share in 2020. On the basis of organization size, the digital payment market is bifurcated into small and medium enterprises and large enterprises.

The large enterprise segment held a larger revenue share in 2020. Large enterprises have the resources to invest in and implement advanced digital payment technologies and systems, which can help them improve their operational efficiency and provide better customer experiences. Additionally, large enterprises typically have a larger customer base, resulting in higher transaction volumes and revenue generated from digital payments. Furthermore, large enterprises often have established partnerships with financial institutions and payment service providers, which can provide them with better rates and fees for digital payment transactions. Overall, these advantages make the large enterprise segment a more significant contributor to the digital payment market revenue than the small and medium enterprise segment.On the basis of industry, the digital payment market is segmented into BFSI, retail and Ecommerce, healthcare, travel and hospitality, media & entertainment, IT and telecom, and others. In 2020, the BFSI segment led the market globally.

Buy a copy of this research report at @: https://www.premiummarketinsights.com/buy/TIP00021711

TABLE OF CONTENTS

1. Introduction

1.1 Scope of the Study

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

1.3.1 Global Digital Payment Market - By Component

1.3.2 Global Digital Payment Market - By Deployment

1.3.3 Global Digital Payment Market - By Organization Size

1.3.4 Global Digital Payment Market - By Industry

1.3.5 Global Digital Payment Market - By Geography

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Digital Payment Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 North America

4.2.2 Europe

4.2.3 APAC

4.2.4 MEA

4.2.5 SAM

4.3 Ecosystem Analysis

4.4 Expert Opinion

5. Digital Payment Market- Key Market Dynamics

5.1 Market Drivers

5.1.1 Increasing Prevalence of Smartphones Enabling Expansion of mCommerce

5.1.2 Rising Adoption of Contactless Payments

5.2 Market Restraints

5.2.1 Lack of International Cross-Border Payment Standards

5.3 Market Opportunities

5.3.1 Growing Adoption of Open-Banking APIs

5.4 Future Trends

5.4.1 Surging Demand for Mobile Point of Sales (mPOS)

5.5 Impact Analysis of Drivers and Restraints

6. Digital Payment Market - Global Market Analysis

6.1 Global Digital Payment Market Overview

6.2 Global Digital Payment Market Forecast and Analysis

6.3 Market Positioning- Top Five Players

7. Digital Payment Market Analysis - By Component

7.1 Overview

7.2 Digital Payment, by Component (2020 and 2028)

7.3 Solutions

7.3.1 Overview

7.3.2 Solutions: Digital Payment Market - Revenue and Forecast to 2028 (US$ Million)

7.3.3 Payment Gateway

7.3.3.1 Overview

7.3.3.2 Payment Gateway: Digital Payment Market - Revenue and Forecast to 2028 (US$ Million)

7.3.4 Payment Processing

About Us:

Premium Market Insights is a one stop shop of market research reports and solutions to various companies across the globe. We help our clients in their decision support system by helping them choose most relevant and cost-effective research reports and solutions from various publishers.

The market research industry has changed in last decade. As corporate focus has shifted to niche markets and emerging countries, a number of publishers have stepped in to fulfil these information needs. We have experienced and trained staff that helps you navigate different options and lets you choose best research solution at most effective cost.

Premium Market Insights has an extensive coverage of industry reports, company reports and country reports across all industries. In case your research needs are not met by syndicated reports offered by leading publishers, we can help you by offering a customized research solution by liaising with different research agencies saving your valuable time and money.

We provide best in class customer service and our customer support team is always available to help you on your research queries. Our commitment to customer service is best exemplified by free analyst support that we offer to our clients which sets us apart from any other provider. We also offer enterprise subscriptions which provide significant cost savings to our clients.

Contact Us:

If you have any queries about this report or if you would like further information, please

Contact Person: Sameer Joshi

Phone: +1-646-491-9876

Email: sales@premiummarketinsights.com

Comments

Post a Comment

Popular posts from this blog

North American Oilfield Service Market Size, Share, Comprehensive Analysis, Opportunity Assessment by 2028

 The North American Oilfield Service Market is projected to expand significantly, growing from US34,957.33millionin2021toUS34,957.33millionin2021toUS 52,360.49 million by 2028. This growth is expected to occur at a compound annual growth rate (CAGR) of 5.9% from 2021 to 2028. One of the key drivers of this growth is the extraction of shale gas, which faces challenges due to the low permeability of shale rock formations. This limits the natural flow of trapped shale gases into wells. To address this, oil and gas companies employ techniques such as hydraulic fracturing and other stimulation methods to enhance the permeability of shale formations and facilitate the extraction of trapped gases. Shale gas is considered a relatively cleaner energy source compared to coal, as it emits less carbon dioxide. This makes it an attractive alternative for countries heavily reliant on coal for energy. The rise in shale gas production has led to a significant increase in natural gas supply, drive...
Read more

North America Multiple Sclerosis Therapeutics Market Analysis, Size, Share and Key Segments Poised for Strong Growth in the Future by 2027

According to a new market research study of “ North America Multiple Sclerosis Therapeutics Market   Forecast to 2027 - COVID-19 Impact and Regional Analysis by Drug Class, Route of Administration, Distribution Channel and Country.” The North America multiple sclerosis therapeutics market is expected to reach US$ 15,269.74 million by 2027 from US$ 9,144.98 million in 2019; it is estimated to grow at a CAGR of 6.8% from 2020 to 2027. The report highlights trends prevailing in the North America multiple sclerosis therapeutics market and the factors driving market along with those that act as hindrances. The List of Companies  Merck & Co., Inc. Novartis AG Bayer AG Sanofi Bristol-Myers Squibb Company Horizon Therapeutics plc TEVA PHARMACEUTICAL INDUSTRIES LTD Takeda Pharmaceutical Company Limited F. HOFFMANN-LA ROCHE LTD Biogen Download Sample PDF Copy:  https://www.businessmarketinsights.com/sample/TIPRE00022633 By Drug Class Immunosuppressant Immunomodulators By Route ...
Read more

North America Disposable Gloves Market Analysis, Development, Opportunities, Future Growth and Business Prospects by Forecast to 2027

According to Business Market Insights’ research, the   North America Disposable Gloves Market  was valued at US$ 2,915.80 million in 2021 and is expected to reach US$ 7,671.99 million by 2028, registering an annual growth rate of 14.8% from 2021 to 2028. The rising burden of healthcare-associated infection and increasing usage of nitrile gloves for industrial use are the critical factors attributed to the market expansion. Download Sample PDF Copy:  https://www.businessmarketinsights.com/sample/TIPRE00018216 Growth of the North America Disposable Gloves Market Driven by Rising Healthcare-Associated Infections The increasing prevalence of healthcare-associated infections (HAIs) is a key factor fueling the growth of the disposable gloves market in North America. HAIs are among the most frequent and severe complications in healthcare settings, affecting millions of patients each year. These infections contribute to high mortality rates and significant financial burdens ...
Read more