According to IMARC Group’s latest report, titled “Digital Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the digital payment market share.
The global digital payment market is expected to exhibit a CAGR of 17.8% during 2022-2027. Digital payment is a secure payment method that operates over the internet or mobile channels without the involvement of physical exchange of cash. The payment information is stored in a merchant-specific database that is available to both consumers and merchants, which helps in the efficient tracking of transactions. Some of the commonly available digital payment methods include banking cards, mobile wallets, and internet banking. As compared to traditional modes of payments, digital payments are more convenient and flexible, and reduce geographical barriers. These reliable solutions process transactions through secure gateways, which enable users to pay directly from their bank accounts.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends and Drivers:
The global digital payment market is primarily being driven by the easy accessibility to high-speed internet, especially in developing economies.
This is further catalyzed by the introduction of the 5G network and rising sales of smartphones. Moreover, governments of various nations are increasingly undertaking initiatives to promote cashless transactions.
This, along with the sudden outbreak of the coronavirus disease (COVID-19) pandemic, is acting as a major growth-inducing factor as digital payment options are contactless, which, in turn, reduces the chances of the spread of the virus significantly.
Other factors, such as the widespread adoption of artificial intelligence (AI) and blockchain technology and increasing mobile payment options, are creating a positive outlook for the market.
Digital Payment Market 2022-2027 Competitive Analysis and Segmentation:
Competitive Landscape With Key Players:
The competitive landscape of the digital payment market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- ACI Worldwide Inc.
- Adyen N.V.
- Aliant Payment Systems Inc.
- Amazon.com Inc.
- American Express Company
- Apple Inc.
- Fiserv Inc.
- Mastercard Incorporated
- Novetti Group Limited
- Paypal Holdings Inc.
- Stripe Inc.
- Total System Services Inc.
- Visa Inc.
- Wirecard AG
Key Market Segmentation:
The report has segmented the global digital payment market on the basis of component, payment mode, deployment type, end use industry and region.
Breakup by Component:
- Solutions
- Application Program Interface
- Payment Gateway
- Payment Processing
- Payment Security and Fraud Management
- Transaction Risk Management
- Others
- Services
- Professional Services
- Managed Services
Breakup by Payment Mode:
- Bank Cards
- Digital Currencies
- Digital Wallets
- Net Banking
- Others
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by End Use Industry:
- BFSI
- Healthcare
- IT and Telecom
- Media and Entertainment
- Retail and E-commerce
- Transportation
- Others
Breakup by Region:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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If you want the latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Competitive landscape, etc. Click request free sample report, the report will be delivered to you in PDF format via email within 24 to 48 hours.
Key Highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, and nanotechnology industries. We also provide cost model and manufacturing setup project reports through Syndicated Analytics, a subsidiary of IMARC Group.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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