United State – Global Enterprise Payment Software Market Status, Trends and COVID-19 Impact Report 2021, Covid 19 Outbreak Impact research report added by Report Ocean, is an in-depth analysis of market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider Enterprise Payment Software market, and compares it with other markets., market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Digital Evidence Management market size forecast, market data & Graphs and Statistics, Tables, Bar &Pie Charts, and many more for business intelligence. Get complete Report (Including Full TOC, 100+ Tables & Figures, and Chart). – In-depth Analysis Pre & Post COVID-19 Market Outbreak Impact Analysis & Situation by Region.
The global enterprise payment software market size was US$ 588.2 million in 2021. The global enterprise payment software market is forecast to grow to US$ 1221.4 million by 2030 by growing at a compound annual growth rate (CAGR) of 8.1% during the forecast period from 2022 to 2030.
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Factors Influencing the Market
Enterprise payment software is helpful in many ways for large and multinational companies. It helps companies facilitate and optimize payments processing and enhance the efficiency of their payment activities. The use of enterprise payment software help reduces errors, prevent fraud, transfer funds efficiently, and automate the processing of large numbers of transactions. Such benefits will drive the enterprise payment software market forward in the coming years.
The trending growth of big data analytics and cloud computing will contribute to the growth of the enterprise payment software market. In addition, the presence of user-friendly, simplified, and secured payment systems will propel the enterprise payment software forward during the forecast period.
The growing number of technological advancements will surge the growth of the enterprise payment software market during the study period. For instance, Appetize unveiled Appetize Payments solution in May 2021. It is an all-in-one solution that incorporates payment processing services with Appetize’s excellent cloud software. In addition, Fuiou Pay (Fuiou) introduced a B2B global payment solution in July 2021.
COVID-19 Impact Analysis
The COVID-19 pandemic positively influenced the global enterprise payment software market. Due to the wake of the pandemic, the demand for no-contact payment and online payments increased steeply. Companies began adopting virtual methods to operate and share data. Thus, the pandemic influenced the demand for enterprise payment software.
Moreover, the demand for advanced solutions increased rapidly due to the pandemic. Thus, it offered ample growth opportunities for the market players. For instance, Payoneer and Fintech Unicorn made headlines in December 2020, as the company announced the availability of its new payment orchestration platform for eCommerce merchants across Asia-Pacific. This platform aims to help companies accept international payments through multiple providers.
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Regional Analysis
North America is forecast to dominate the enterprise payment software market in terms of revenue. The growth of the market is attributed to the contribution of the United States and Canada. The presence of prominent industry players, such as Bottomline Technologies Inc., Aliant Payment Systems Inc., etc., will contribute to the growth of the market. In addition, growing digital infrastructure and demand for robust digital technologies will contribute to the growth of the enterprise payment software market.
Competitors in the Market
- Sage Payment Solutions Inc.
- Tipalti Solutions Ltd.
- Bottomline Technologies Inc.
- Nvoicepay Inc.
- Aliant Payment Systems Inc.
- Bill.com Inc.
- CANOPUS Money Transfer
- ConnectPay LLC
- CSI Paysystems
- Global Payments Inc
- MineralTree Inc.
- Payline Data Services LLC.
- Other Prominent Players
Market Segmentation
The global enterprise payment software market segmentation focuses on Component, Deployment, End-Use, and Region.
By Component
- Software
- Services
By Deployment Mode
- Cloud-Based
- On-Premises
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By End-Use Industry
- Retail
- IT & Telecom
- Healthcare
- BFSI
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Brazil
- Argentina
- Rest of South America
Key questions answered in the global Enterprise Payment Software market report are:
- How does a global company acquire markets?
- What are its core strategies and policies?
- What factors will influence the Enterprise Payment Software market over the forecast period?
- What are the factors driving and restraining the market for Enterprise Payment Software?
- What are the leading competitors in the global market?
- Which region is growing at a higher pace in the global market?
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