The Global Digital Payment Market size is anticipated to reach USD 215.88 Billion in 2027, registering a CAGR of 13.3% throughout the forecast period. The report studies the factors influencing the growth of the industry in the global market and offers accurate predictions about the growth pattern. The report pays special attention to the key elements of the market, such as drivers, restraints, opportunities, threats, risks, limitations, and other aspects. The report covers a comprehensive analysis of the competitive landscape with a detailed analysis of the company profiles, product portfolio, and business expansion strategies.
According to the International Telecommunication Union (ITU), in 2019, over 4 Billion individuals (51% of the global population) had access to the Internet, an increase of 8.1% from the previous years. Rising Internet proliferation has been pivotal in spurring growth of e-commerce sales, which in turn, is driving demand for digital payment methods such as digital wallets as a means to a secure, convenient, and fast payment method for e-commerce customers.
Key players in the market include Mastercard Inc., Fiserv Inc., Visa Inc., JPMorgan Chase & Co., PayPal Holdings Inc., Intuit Inc., Global Payments Inc., Stripe, PayU, and ACI Worldwide Inc.
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Furthermore, the report provides a comprehensive overview of the Digital Payment market along with product portfolio and market performance. The report offers key insights into market share, supply chain analysis, demand and supply ratio, import/export details, and product and consumption patterns. To gain a better understanding, the report is further segmented into sections such as product types offered by the market, application spectrum, companies, and key geographical regions where the market has established its presence.
Digital wallet enables a pleasant and improved online shopping experience by eliminating complications in checkout processes, which are the primary reasons behind shoppers abandoning their shopping carts. Additionally, digital wallets are also beneficial in enhancing customer loyalty, thereby encouraging e-commerce service providers to integrate digital wallets in their digital payments options.
The report is updated with the latest economic scenario and market scope with regard to the ongoing COVID-19 pandemic. The report covers growth prospects as well as current and futuristic revenue estimations in a post COVID scenario. The report also covers changing trends and market dynamics due to the pandemic and provides an accurate impact analysis of the crisis on the overall market.
Emergen Research has segmented the global digital payment market on the basis of offering, organization size, mode of deployment, industry vertical, and region:
- Offering Outlook (Revenue, USD Billion; 2018–2028)
- Payment Gateway Solutions
- Payment Wallet Solutions
- Payment Processing Solutions
- Payment Security & Fraud Management Solutions
- Point of Sale Solutions
- Professional Services
- Managed Services
- Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- Large Enterprise
- Small & Medium-sized Enterprises
- Mode of Deployment Outlook (Revenue, USD Billion; 2018–2028)
- Industry Vertical Outlook (Revenue, USD Billion; 2018–2028)
- Transportation & Logistics
- Travel & Hospitality
- Media & Entertainment
Key Questions Answered in the Report:
What is the growth rate of the Digital Payment market? What is the anticipated market valuation of Digital Payment industry by 2027?
What are the key growth driving and restraining factors of the Digital Payment market?
Who are the prominent players operating in the market? What are the key strategies adopted by these companies?
What are the key opportunities and growth prospects of the Digital Payment industry over the forecast period?
Which region is expected to show significant growth in the coming years?
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Chapter 1: Methodology & Scope
- Definition and forecast parameters
- Methodology and forecast parameters
- Data Sources
- Business trends
- Regional trends
- Product trends
- End-use trends
- Industry segmentation
- Industry landscape
- Vendor matrix
- Technological and innovation landscape
- Business Overview
- Financial Data
- Product Landscape
- Strategic Outlook
Unfolding the prime factors prompting growth:
The study offers an in-depth analysis of the product outlook, which depicts the latest production growth trends and profit valuation. It further fragments the global Digital Payment market into a broad product spectrum.
The study covers essential data related to these products’ application landscape, the demand for and market share held by each application type, and their growth rate analysis over the estimated period.
A detailed description of the distribution channels, including distributors, producers, and buyers, is one of the report’s key market highlights.
Global Digital Payment Market Geographical Landscape – Synopsis:
The report closely studies the growth trajectory of the global Digital Payment market. It brings to light the global dominance of the leading regional segments, including North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa.
The study elaborates on the crucial information pertaining to the regional market share. It simultaneously focuses on the significant details about the growth patterns of each regional market.
Moreover, the report encases an exhaustive geographical study of the market, emphasizing the business growth prospects and market barriers for each of the key market regions.
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