Quadintel offers a thorough analysis of the India Payment Security Market, including assessments of business solutions, studies and advancements, applications, advantages, benefits, and breadth. This market research study on India Payment Security Market provides a thorough analysis and improvement of the important business producers, opportunities, difficulties, and worldwide suppliers as well as a close investigation of risks and access restrictions. Additionally, it provides a competitive analysis of the most recent technological advancements, innovations, future market potential, industry share, sales, sales generation, funding analysis, and overall business environment.
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The payment security market in India was valued at INR 130.50 Bn in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 17.79% between 2021 and 2025, to reach a value of INR 289.90 Bn by 2025.
Payment security is a safety program that uses multiple layers of analytics, technology, and security approaches to protect digital payment and reduce fraudulent transactions. These security solutions are provided through Point-of-sale (PoS), mobile-based, and web-based platforms. Payment security solutions offered in India include encryption, point-to-point tokenization, and EMV (Europay, MasterCard, and Visa). Payment security solutions in India are mostly being adopted by the sectors of banking, financial services, and insurance (BFSI), education, retail, hospitality, and telecom. Some of the domestic organizations proffering payment security solutions in the country are Cisco Systems India Pvt. Ltd., Intel Technology India Pvt. Ltd., and Trend Micro India Pvt. Ltd.
Market insights:
The steady growth in the market can be attributed to the rising adoption of cashless payment methods and the increasing fraudulent activities associated with online transactions. It also includes the growing incidence of cyber thefts and data breaches. The increase in the governments participation in undertaking initiatives to promote cashless and digital economy has also encouraged growth in the market. Some of the policies implemented by the government include the launch of the Payments Infrastructure Development Fund and the introduction of instant payment facilities, such as UPI and BHIM. However, the lack of investments from IT companies on security solutions and the high cost of the adoption of payment security solutions hinder the growth of the payment security market.
COVID-19 impact analysis:
The outbreak of the pandemic and the implementation of social-distancing norms have had a substantial impact on the payment security market in India. With the growing fear surrounding the pandemic, there has been a behavioral shift from cash-based transactions to digital payments across all categories of consumers. During this period, digital payment and contactless modes of transactions have gained popularity among the buyers. As a result, the risk of cybercrimes and data threats has also soared. With increasing cyber risks, the adoption of payment security services and solutions is expected to witness growth in multiples in the coming years.
Companies covered:
Cisco Systems India Pvt. Ltd.
Intel Technology India Pvt. Ltd.
NortonLifeLock India Private Limited
Trend Micro India Pvt. Ltd.
Broadcom Inc.
One Span
Thales Group
Transaction Network Services
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Highlight the Following Key Factors:
- Business Description: a particular description of agency operations and enterprise departments.
- Company Strategy: The analyst’s precis of the company’s commercial enterprise strategy.
- SWOT Analysis: Detailed evaluation of the company’s strengths, weaknesses, opportunities, and threats.
- Company History: The development of predominant occasions associated to the company.
- Main merchandise and services: A listing of the company’s fundamental products, services, and brands.
- Main Competitors: A listing of the company’s fundamental competitors.
- Important places and subsidiaries: The company’s major places and subsidiaries’ listing and contact information.
- Detailed economic ratios of the previous 5 years: The trendy monetary ratios come from the annual economic statements issued by means of agencies with a record of 5 years.
Some of the Key Questions Answered in this Report:
- What will be the market size and the growth rate by the end of the forecast period?
- What are the key Player trends impacting the growth of the market?
- What are the potential growth opportunities and threats faced by the leading competitors in the market?
- What are the key outcomes of Porter’s five forces analysis and the SWOT analysis of the key players functioning in the global Market?
- This report gives all the information regarding industry Overview, analysis and revenue of this market.
- What are the market opportunities and threats faced by the vendors in the global Market?
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