Yahoo Finance Digital Payment Market by Component, Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025
Dublin, Oct. 23, 2020 (GLOBE NEWSWIRE) -- The "Digital Payment Market by Component (Solutions (Payment Processing, Payment Gateway, Payment Wallet, POS Solution, Payment Security and Fraud Management) and Services), Deployment Mode, Organization Size, Vertical, and Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The digital payment market size is expected to grow from USD 79,303 million in 2020 to USD 154,082 million by 2025, at a CAGR of 14.2% during the forecast period.
Major growth factors for the market include worldwide initiatives for the promotion of digital payments, high proliferation of smartphones enabling mCommerce growth, an increase in eCommerce sales, and growth in internet penetration.
By deployment type, the cloud segment to grow at the highest CAGR during the forecast period
Several vendors in the market offer payment solutions through the public and private cloud. Cloud-based payment solutions are available in various subscriptions and pay-per-use models. These solutions empower businesses to invest in payment technologies according to their specific requirements. The cloud-based deployment of digital payment software is gaining traction among SMEs, as cloud-based deployment helps SMEs avoid upfront costs associated with hardware, software, storage, and technical staff.
By region, Asia Pacific (APAC) to grow at the highest growth rate during the forecast period
APAC is at the forefront to adopt digital payment solutions due to the increased smartphone penetration and internet connectivity in this region that provides digital payment solution providers with an opportunity to launch advanced digital payment services. The rapid eCommerce adoption also contributes to the increased use of digital payment solutions. The adoption of digital payment solutions has helped bridge economic opportunities and drive financial inclusion in APAC. APAC consumers prefer equal measures of seamless and security in all aspects of their digital payment transactions. The growing retail market in the region has enabled global digital payment solution providers to focus more on this region for providing advanced solutions.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the digital payment market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in Digital Payment Market
4.2 Market by Component
4.3 Market by Solution
4.4 Market by Service
4.5 Market by Professional Service
4.6 Market by Deployment Type
4.7 Market by Vertical
4.8 Market by Region
4.9 Market by Country
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Worldwide Initiatives for the Promotion of Digital Payments
5.2.1.2 High Proliferation of Smartphones Enabling Mcommerce Growth
5.2.1.3 Increase in Ecommerce Sales and Growth in Internet Penetration
5.2.1.4 Rise in the Adoption of Contactless Payments
5.2.1.5 Increase in the Adoption of Real-Time Payments
5.2.1.6 Evolving Customer Expectations
5.2.2 Restraints
5.2.2.1 Lack of Global Standards for Cross-Border Payments
5.2.3 Opportunities
5.2.3.1 Rapid Decline in Unbanked Population Across the Globe
5.2.3.2 Gradual Adoption of Open-Banking Apis
5.2.3.3 Progressive Changes in Regulatory Frameworks
5.2.4 Challenges
5.2.4.1 Evolving Cyber Attacks on Digital Payments
5.2.4.2 Fragmented Regional Regulatory Landscape
5.2.4.3 Lack of Digital Literacy in Emerging Countries
5.3 COVID-19 Pandemic-Driven Market Dynamics and Factor Analysis
5.4 Market: Ecosystem
5.5 Technology Analysis
5.6 Pricing Analysis
5.7 Case Studies
5.7.1 Case Study 1: Suntrust Implemented Zelle Solution to Offer Competitive Banking Services to Digital-First Customers
5.7.2 Case Study 2: Caribbean Airlines Consulted Worldpay to Manage Business Costs and Risks
5.7.3 Case Study 3: Poshmark Added Venmo as Payment Option and Witnessed Improved Traction and Brand Visibility
6 Digital Payment Market, by Component
6.1 Introduction
6.2 Solutions
6.2.1 Solutions: Market Drivers
6.2.2 Solutions: COVID-19 Impact
6.2.3 Payment Gateway Solutions
6.2.4 Payment Processing Solutions
6.2.5 Payment Wallet Solutions
6.2.6 Payment Security and Fraud Management Solutions
6.2.7 Point of Sale Solutions
6.3 Services
6.3.1 Services: Digital Payment Market Drivers
6.3.2 Services: COVID-19 Impact
6.3.3 Professional Services
6.3.3.1 Consulting
6.3.3.2 Implementation
6.3.3.3 Support and Maintenance
6.3.4 Managed Services
7 Digital Payment Market, by Deployment Type
7.1 Introduction
7.2 On-Premises
7.2.1 On-Premises: Market Drivers
7.2.2 On-Premises: COVID-19 Impact
7.3 Cloud
7.3.1 Cloud: Market Drivers
7.3.2 Cloud: COVID-19 Impact
8 Digital Payment Market, by Organization Size
8.1 Introduction
8.2 Small and Medium-Sized Enterprises
8.2.1 Small and Medium-Sized Enterprises: Market Drivers
8.2.2 Small and Medium-Sized Enterprises: COVID-19 Impact
8.3 Large Enterprises
8.3.1 Large Enterprises: Market Drivers
8.3.2 Large Enterprises: COVID-19 Impact
9 Digital Payment Market, by Vertical
9.1 Introduction
9.2 Banking, Financial Services, and Insurance
9.2.1 Banking, Financial Services, and Insurance: Market Drivers
9.2.2 Banking, Financial Services, and Insurance: COVID-19 Impact
9.3 Retail and Ecommerce
9.3.1 Retail and Ecommerce: Market Drivers
9.3.2 Retail and Ecommerce: COVID-19 Impact
9.4 Healthcare
9.4.1 Healthcare: Market Drivers
9.4.2 Healthcare: COVID-19 Impact
9.5 Travel and Hospitality
9.5.1 Travel and Hospitality: Market Drivers
9.5.2 Travel and Hospitality: COVID-19 Impact
9.6 Transportation and Logistics
9.6.1 Transportation and Logistics: Market Drivers
9.6.2 Transportation and Logistics: COVID-19 Impact
9.7 Media and Entertainment
9.7.1 Media and Entertainment: Market Drivers
9.7.2 Media and Entertainment: COVID-19 Impact
9.8 Other Verticals
10 Digital Payment Market, by Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 Asia-Pacific
10.5 Latin America
10.6 Middle East and Africa
11 Competitive Landscape
11.1 Overview
11.2 Market Evaluation Framework
11.3 Key Market Developments
11.3.1 New Product Launches and Product Enhancements
11.3.2 Partnerships, Collaborations, and Agreements
11.3.3 Mergers and Acquisitions
11.4 Revenue Analysis of Top Market Players
11.5 Historical Revenue Analysis
11.6 Company Evaluation Matrix Overview
11.7 Company Evaluation Matrix Methodology and Definitions
11.7.1 Star
11.7.2 Emerging Leaders
11.7.3 Pervasive
11.7.4 Participant
11.8 Ranking of Key Players
11.9 Startup/Sme Evaluation Matrix Methodology and Definitions
11.9.1 Progressive Companies
11.9.2 Responsive Companies
11.9.3 Dynamic Companies
11.9.4 Starting Blocks
11.10 Company Profiles
11.10.1 Introduction
11.10.2 Fiserv
11.10.3 Fis
11.10.4 Paypal
11.10.5 Global Payments
11.10.6 Square
11.10.7 Visa
11.10.8 Mastercard
11.10.9 Wex
11.10.10 Aci Worldwide
11.10.11 Jpmorgan Chase
11.10.12 Intuit
11.10.13 Stripe
11.10.14 Due
11.10.15 Worldline
11.10.16 Adyen
11.10.17 Paytrace
11.10.18 Applepay
11.10.19 Aliant Payments
11.10.20 Aurus
11.10.21 Fattmerchant
11.10.22 2Checkout
11.10.23 Paysafe
11.10.24 Payu
11.10.25 Spreedly
11.10.26 Alipay
11.10.27 Dwolla
12 Appendix
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