Digital Payment Market Overview
The recently published market intelligence report by Maximize Market Research highlights the promising growth potential of the Digital Payment Market during the forecast period. Within the Digital Payment market report, there's an exploration of growth drivers, significant limitations, imminent challenges, and prevailing opportunities within the market. This analysis also provides insights into the Digital Payment market size across various regions and segments.
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Digital Payment Market Values
The Digital Payment Market size was valued at USD 92.67 Billion in 2023 and the total Digital Payment revenue is expected to grow at a CAGR of 14.89% from 2024 to 2030, reaching nearly USD 244.86 Billion by 2030.
Digital Payment Market Report Scope and Research Methodology
The report delves extensively into the Digital Payment market, encompassing a thorough examination of all critical facets. It offers an in-depth analysis of the Digital Payment market on local, regional, and global scales. Within the realm of competitive analysis, the report enlists Digital Payment key competitors and emerging entrants, categorized by criteria such as region, financial standing, revenue, adopted technological advancements, potent marketing strategies, as well as instances of mergers, acquisitions, joint ventures, and product portfolios.
SWOT analysis is employed to illuminate the strengths and weaknesses of key players within the Digital Payment industry. Furthermore, the utilization of PORTER and PESTLE analysis facilitates a multifaceted understanding of the Digital Payment market, encompassing diverse perspectives such as political and economic factors.
Digital Payment Market Segmentation
by Component
Solution
Service
by Deployment
Cloud
On-premise
In 2023, the on-premise segment held a dominant market share of around 65.0% of worldwide revenue, based on deployment. Businesses that use on-premises digital payment solutions have total control over their apps and systems, which is easily managed by their IT staff. Additionally, businesses use in-house digital payment solutions to safeguard their apps and systems against malicious attacks. For instance, in November 2019, Microsoft and ACI Global announced their alliance. The partnership provided lower long-term capital expenditure and increased security for ACI Worldwide's on-premises customers.
by Vertical
BFSI
Media & Entertainment
IT & Telecommunication
Hospitality
Healthcare
End-user revenue-wise, the BFSI sector led the market in 2023, accounting for over 23% of worldwide revenue. Remittance expansion to low- and middle-income countries is expected to be one of the main drivers of new market development opportunities over the projection period. Banks are also improving their ability to compete with companies like Google, Amazon, and Facebook that offer digital payment solutions. To make things simpler for its customers, Bank of America, for instance, introduced a digital debit card in June 2019.
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Digital Payment Market Key Players
North America:
1. Total System Services, Inc.
2. PayPal Holdings Inc
3. ACI Worldwide Inc
4. Dwolla
5. FattMerchant
6. FIS and Fiserv
7. Intuit
8. JPMorgan Chase
9. Square
10. Stripe
11. Visa and Mastercard
Europe:
1. Wirecard AG.
2. Novetti Group Limited
3. Adyen N.V.
4. Aurus
5. Worldline
6. Checkout
Asia Pacific:
1. Lianta Payments
2. Alipay
3. PayU
Global:
1. Apple Pay
2. Paysafe
3. PayTrace
4. Spreedly
5. WEX
Table of content for the Digital Payment Market includes:
Part 01: Executive Summary
Part 02: Scope of the Digital Payment Market Report
Part 03: Digital Payment Market Landscape
Part 04: Digital Payment Market Sizing
Part 05: Digital Payment Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Digital Payment Market Regional Insights
The report includes a detailed explanation of all the factors, market size, growth rate, and import and export in regions:
1)North America
2) Europe
3) Asia Pacific
4) Latin America
5) the Middle East, and Africa.
Key questions answered in the Automotive Relay Market are:
- What is the expected Digital Payment market size by 2029?
- What are the recent industry trends that can be implemented to generate additional revenue streams for Digital Payment Market?
- Which factors are creating opportunities for the Digital Payment market growth?
- How is the intervention from regulatory authority shaping the Digital Payment Market?
- What growth strategies are the players considering to increase their presence in Digital Payment Market?
- What is the Digital Payment market size of the dominating region?
Key Offerings:
- Past Market Size and Competitive Landscape (2017 to 2022)
- Past Pricing and price curve by region (2017 to 2022)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation
- Regional Insights
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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