The global payment gateway market size is expected to reach USD 71.22 billion by 2027 registering a CAGR of 21.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing use of these billing methods across the globe. Growing usage of various digital channels for payments has also been driving the market growth.
Various
companies are using these systems as they allow secure internet transactions,
which helps prevent or avoid debit or credit card scams and other fraudulent
activities. Such methods also help automate the complete billing process, with
faster processing speed and error-free computations.
Various
factors, such as the growing trend of digitalization and rising usage of
numerous online billing modes like net banking and mobile wallets, are
anticipated to propel the market growth over the forecast period. In addition,
merging of major e-commerce sites with various payment gateway platforms,
partnerships between banks and online retailers, and attractive cashback offers
on online billing, are further expected to drive the payment gateway market
growth.
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Here: https://www.grandviewresearch.com/industry-analysis/payment-gateway-market
Payment Gateway
Market Report Highlights
- The hosted segment is
expected to account for the largest market share over the forecast period
- Payment gateways can deliver
a significant uplift to the profitability of a small & medium
enterprises by delivering better customer experience and reducing
transaction costs
- Various factors, such as
better shopping experience and increased usage of smartphones, are
expected to create growth opportunities for the market in the retail &
e-commerce end-use segment
- North America is estimated
to be the largest regional market due to high demand for faster billing
solutions as a result of growing e-commerce sales and rapidly changing
retail market
- Key vendors in the market
include Stripe; Braintree; Authorize.Net; PayPal Holdings, Inc.; and
Amazon Payments, Inc.
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Payment Gateway
Market Segmentation
Grand View Research has segmented
the global payment gateway market on the basis of type, enterprise size, end
use, and region:
Payment Gateway
Type Outlook (Revenue, USD Billion, 2016 - 2027)
- Hosted
- Non-hosted
Payment Gateway
Enterprise Size Outlook (Revenue, USD Billion, 2016 - 2027)
- Large Enterprises
- Small & Medium
Enterprises
Payment Gateway
End-use Outlook (Revenue, USD Billion, 2016 - 2027)
- BFSI
- Media & Entertainment
- Retail & E-commerce
- Travel & Hospitality
- Others
Payment Gateway
Regional Outlook (Revenue, USD Billion, 2016 - 2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Middle East & Africa
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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