The global payment gateway market size was US$ 22.4 billion in 2021. The global payment gateway market size is estimated to reach US$ 97.1 billion by 2030, growing at a compound annual growth rate (CAGR) of 17.7% during the forecast period from 2022 to 2030.
A payment gateway is an online interface for money transfers between a customer and a merchant. Online payment option is an asset for any business as the online mode ensures secure and smooth payment transactions and helps in reducing the financial loss of the company due to late payments.
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Factors Affecting Marketing Growth
The growth in extensive data transactions and the rise in usage of different online payment methods such as debit cards, credit cards, net banking, mobile wallets, and high-speed internet’s growing popularity and accessibility are factors driving the growth of the global market.
Rising e-commerce sales as it saves time and growing internet penetration internationally due to the shift in merchant and client preferences toward digital channels for permitting online money transfers to drive the growth of the global market.
Rising customers’ danger of online fraud serves as the payment gateway’s primary impediment. This is the primary factor hindering the growth of the global market.
Impact on COVID-19 Analysis
COVID-19 had led a positive impact on the global payment gateway market due to the substantial increase in the number of e-commerce and digital payment transactions owing to the growth of online shopping platforms. Also, consumer-to-business payments and electronic peer-to-peer transactions have become quite popular during the pandemic. Thus, driving the growth of the global market.
Regional Analysis
Asia-Pacific is anticipated to have the largest market share during the forecast period, due to the existence of emerging economies and the increase in smartphone users in the region. Furthermore, the e-commerce sector in several countries is developing at a rapid pace. Customers want to buy things online rather than going to the store which creates the need for payment gateway solutions, thus driving the growth of the global market in the region.
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Leading Competitors
The prominent players in the global payment gateway market are:
FISERV INC
JPMorgan Chase & Co.
BitPay Inc.
MASTERCARD
PayU
FIS(Worldpay)
Amazon.com Inc.
STRIPE
PayPal Holdings Inc
Visa Inc
Others
Segmentation Analysis
The global payment gateway market segmentation focuses on Type, Enterprise Size, End User, and Region.
Segmentation on the basis of Type
Non Hosted
Hosted
Segmentation on the basis of Enterprise Size
Small and Medium Enterprise
Large Enterprise
Segmentation on the basis of End User
Media and Entertainment
Retail and Ecommerce
BFSI
Travel and Hospitality
Others
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Segmentation on the basis of 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
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Payment Gateway market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Payment Gateway market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Payment Gateway market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Payment Gateway business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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