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Digital Payment Market 2020 Analysis Covers Industry Size, Global Share, Industry Revenue with Growth Rate, Key Players Overview, Regional Trends, and Forecast to 2025

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Feb 14, 2020 (The Expresswire) -- Digital Payment Market share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).

Global “ Digital Payment ” market trend analysis report provides key analysis on the market status of the Digital Payment manufacturers with market size, growth, share, trends as well as industry cost structure. The study objectives are to present the Digital Payment development in United States, Europe and China. The report presents in-depth analysis of Digital Payment market size, share, growth and demand forecast (in USD billion). Digital Payment market share analysis report includes research methodology, value chain analysis, industry analysis by power of suppliers and consumers. Digital Payment market report also includes new upcoming technology of Digital Payment Industry that will helps to our clients.

The Global Digital Payment Market is expected to register a 16.77% CAGR, exhibiting significant growth during the forecast period. The market was valued at USD 40,633.3 million in the year 2018; it is expected to reach USD 120,245.9 million by 2025. North America accounted for the largest market value of USD 13,864.1 million in 2018; the market is expected to register a CAGR of 17.50% during the forecast period.

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Global Digital Payment Market Research Report: by Component (Solution and Services), by Deployment (Cloud and On-Premise), by Organization Size (Large Enterprise and Small and Medium Enterprises (SMEs)), by Vertical (BFSI, Media and Entertainment, IT and Telecommunication, Hospitality, Healthcare, Retail and E-Commerce and others), by Region (North America, Europe, Asia-Pacific, South America and the Middle East and Africa) - Forecast till 2024

Market Snapshot

Digital payment is the process by which a payer and payee use electronic modes to send and receive money. It is cash-free mode of transaction. Payment is taken via digital wallets, digital currencies, net banking, bank cards, and contact and contactless payment in points of sale. Convenience, accessibility, lower risk, saves time, user-friendliness, and the traceability are some of the advantages that digital payment methods. There are some concerns about limitations on payment and the amount limit for each payment, along with the risk of a hacked and constant requirement of active internet access.

Digital payment can help increase productivity and economic growth, improve the transparency, increase tax revenues, extend the financial inclusion, and open new economic opportunities for the end users. For the same, governments across the world are implementing ICT technology in order to encourage digital economies. They undertake various initiatives to digitize the payment process. Hence, Digital payment has become one of the primary growth requirements for a country's economy. For example, the Government of India that has initiated various initiatives such as Digital India, the launch of Unified Payments Interface (UPI), and the 14444-helpline number to help stimulate digital payments. However, a lack of standards for cross-border payments is a challenge for the global digital payment market during the forecast period. Based on type, the market has been classified as cloud and on-premise.

In a cloud-based digital payment, there are limited chances of a single point of failure (SPOF) as all devices, components, and network paths are duplicated and reserved. Hence, to make cloud-based digital payments more secure, digital issuance systems are used; these systems are capable of saving all the credentials securely on the cloud, issuing them to mobile applications already installed on the device. Enterprises prefer the on-premise deployment of digital payment solutions to gain complete control over their infrastructure and assets as well as enhance their internet safety measures. These solutions help merchants in managing every payment device across every application from a centralized, secure under management platform.

The Global Digital Payment Market is expected to register a 16.77% CAGR, exhibiting significant growth during the forecast period. The market was valued at USD 40,633.3 million in the year 2018; it is expected to reach USD 120,245.9 million by 2025. North America accounted for the largest market value of USD 13,864.1 million in 2018; the market is expected to register a CAGR of 17.50% during the forecast period.

Digital Payment Market Segmentation:

The global digital payment market has been segmented by Component, by Deployment Cloud and On-Premise, by organizational size, by vertical and by region. By Component the market has been segmented into solution and services. The market is also segmented into Deployment Cloud and On-Premise. Based Organization Size the global digital payment market has been segmented into Large enterprise and Small and Medium Enterprises (SMEs). Vertically the global digital payment market has been segmented by (BFSI, Media and Entertainment, IT and Telecommunication, Hospitality, Healthcare, Retail and E-Commerce, and others). Based on region the market has been segmented into North America, Asia-Pacific, Europe, South America, and the Middle East and Africa.

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Regional Analysis

Geographically, the global digital payment market has been segmented into Asia-Pacific, North America, Europe, South America, and the Middle East and Africa. North America are expected to dominate in global digital market for payments during the forecast period due to presence of a large number of solutions providers in the region.

Digital Payment Market Report Covers Major Players:

The proposed spectators in the global digital payment market are hospitals, medical devices companies, Research and academic institutes, software companies Governments, associations, industrial bodies, etc. The major companies functioning the global digital payment market are concentrating on firming their global ways by entering into untouched markets. There are many key developments of the global digital payment market., Fiserv, Inc. unveiled mobile invoicing, which allows clients to be digitally present a customer’s bill into a mobile wallet, while supporting alerts and notifications that increase payment speed reminded the customer to pay their bills soon or on time. BlueSnap announced the availability of its new product—Integrated Payments for Platforms—in Europe, which provides a built-in payments for software providers and gives European-based ISVs the ability to scale and make money their businesses with a single payment provider in July 2019. PayU acquired iyzico—a digital payment services provider and FinTech start-ups in Turkey. The acquisition will allow the company to consolidate its position as a leader in the payments space and accelerate scale and efficiency in June 2019. Wirecard announced a partnership with YES BANK, which extends the scope of India’s Aadhaar Enabled Payment System, a biometric digital payment system developed by the National Payments Corporation of India, in July 2019. ACI Worldwide, Inc. (US), Stripe (US), Novatti Group Limited (Australia), Adyen NV (Netherland), Wirecard AG (Germany), and YapStone, Inc. (US)., Worldpay, Inc. (US), PayPal Holdings, Inc. (US), Aurus Inc. (US), Fiserv, Inc. (US), BlueSnap Inc. (US), Global Payments Direct, Inc. (US), PayU (Netherland), Aliant Payment Systems Inc. (US) and First Data Corporation (US) are some of theDigital Payment Market Report Covers Major Players:in the global digital payment market.

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Key Questions Answered in The Digital Payment Market Report:

  • What will the Digital Payment market growth rate?

  • What are the key factors driving the global Digital Payment market?

  • Who are the key manufacturers in Digital Payment market space?

  • What are the market opportunities, market risk and market overview of the Digital Payment market?

  • What are sales, revenue, and price analysis of top manufacturers of Digital Payment market?

  • Who are the distributors, traders and dealers of Digital Payment market?

  • What are the Digital Payment market opportunities and threats faced by the vendors in the global Digital Payment Industry?

  • What are sales, revenue, and price analysis by types and applications of Digital Payment Industry?

  • What are sales, revenue, and price analysis by regions of Digital Payment industry?

Detailed TOC of Digital Payment Market Forecast Report 2019-2023:

1 Digital Payment Market Introduction

2 Executive Summary

3 Digital Payment Market Introduction

3.1 Definition

3.2 Scope of the Study

3.3 List of Assumptions

3.4 Market Structure

4 Digital Payment Market Research Methodology

4.1 Research Process

4.2 Primary Research

4.3 Secondary Research

4.4 Market Size Estimation

4.5 Forecast Model

5 Digital Payment Market Dynamics

5.1 Introduction

5.2 Drivers

5.3 Restraints

5.4 Opportunities

6 Digital Payment Market Factor Analysis

6.1 Porter’s Five Forces Model

6.1.1 Bargaining Power of Suppliers

6.1.2 Bargaining Power of Buyers

6.1.3 Threat of New Entrants

6.1.5 Intense Rivalry

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