Digital Payment Market Growth Trends With Detailed Forecast To 2029
Digital Payment Market was valued at USD 69.55 Billion in 2021, and it is expected to reach USD 285.38 Billion by 2029, exhibiting a CAGR of 19.3 % during the forecast period (2022-2029).
Digital Payment Market Overview:
The report covers the Digital Payment Market’s most recent revenue and market trends. It provides a market overview, definition, and structure, as well as preventative and pre-planned management. The report focuses on the factors that influence the Digital Payment Market, such as gross margin, cost, market share, capacity utilization, and supply. The report provides a market overview through common subjects that are highlighted with unique data based on the need. The overview aids in making decisions about how to approach the market and comprehending the industry’s backdrop.
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- Size of the market and share analysis
• Analysis of the top market players' sales, business plans, and income
• What drives and stops market growth?
• Research methodology
• Market opportunities & obstacles
Digital Payment Market Scope:
The information and data provided in the report may be used by all stakeholders, students, consulting firms, research institutes, industry professionals, journalists, business researchers, etc. in the global Digital Payment Market. The report provides overall market insights for manufacturers, suppliers, distributors, and investors in the global Digital Payment Market. To provide users with comprehensive information, all of the main aspects and analytical market data are scientifically displayed in the form of graphs, tables, pie charts, and product statistics.
Segmentation Analysis:
According to solution, the payment processing sector, which accounted for around 25.0% of worldwide revenue in 2021, dominated the digital payment market. As consumers' desire for online shopping expands throughout the world, retailers are implementing payment processing systems to offer seamless checkout experiences to customers. Players who offer payment processing solutions are focusing on mergers and acquisitions as well as collaborations to increase their market share. For instance, PayU bought Red Dot Payment, a provider of payment solutions, in July 2019 to strengthen its position in Singapore.
The point-of-sale segment, which accounted for more than 52.0% of global revenue in 2021, dominated the digital payment market in terms of payment method. Point of sale (POS) systems are those that retail businesses utilise to complete transactions. The benefits of using a point of sale include quick checkout options, a customised customer experience, and several payment methods. The point-of-sale payment method is used by many shops and restaurants to enhance the payment experiences of their clients.
Based on deployment, the on-premise market segment held a commanding 65.0% share of worldwide revenue in 2021. On-premise digital payment solutions allow businesses total control over their apps and systems, which are simple for their IT team to manage.
The big enterprises sector, which accounted for more than 60.0% of worldwide revenue in 2021, led the digital payment market based on enterprise size. Big retail establishments must adopt digital payment systems for rapid checkouts due to high foot traffic.
In 2021, the BFSI industry dominated the market in terms of end users, accounting for more than 23.0% of worldwide revenue. An increase in remittances to low- and middle-income countries is probably one of the key drivers boosting new market growth potential over the predicted period.
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Key Players:
• Total System Services, Inc.
• Wirecard AG
• Novetti Group Limited
• PayPal Holdings Inc.
• ACI Worldwide Inc.
• Adyen N.V.
• Aurus
• Aliant Payments
• Alipay
• Apple Pay
• Dwolla
• FattMerchant
• FIS
• Fiserv
• Global Payments
• Intuit
• JPMorgan Chase
• Mastercard
• PayPal
• Paysafe
• PayTrace
The competitive landscape is a critical aspect every key player needs to be familiar with. The report throws light on the competitive scenario of the global Digital Payment Market to know the competition at both the domestic and global levels.
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Regional Analysis:
The study delves into the Digital Payment Market in depth, segmenting it into regions. For the analysis, a review of the provincial Digital Payment Market involved with the objective market, as well as results related to the objective market, is provided.
- Asia-Pacific(Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe(Turkey, Germany, Russia UK, Italy, France, etc.)
- North America(the United States, Mexico, and Canada.)
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Key Questions answered in the Digital Payment Market Report are:
- What is Digital Payment Market?
- What is the forecast period of the Digital Payment Market?
- What is the competitive scenario of the Digital Payment Market?
- Which region held the largest market share in the Digital Payment Market?
- What are the opportunities for the Digital Payment Market?
- What factors are affecting the Digital Payment Market growth?
- Who are the key players of the Digital Payment Market?
- Which company held the largest share in the Digital Payment Market?
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