Digital Payments Market

Digital Payments Market is segmented by Type (Vapor Chamber, Variable Conductance, Diode, Thermosyphon and Others), End User (Automotive, Aerospace & Defense, Food and beverage, Energy & power), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)

  • Report ID : MD2598
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  • Pages : 180
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  • Tables : 60
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  • Formats :

Digital Payments Market Size shall reach a value of $xx Million in 2028, growing with a CAGR of 9.1% during the forecast period of 2021 to 2028.

Digital Payments Market Growth and Trends

The global digital payments market is currently holding a market size of US$ 79.3 billion in 2020 and is projected to grow at a CAGR of 14.2% to an expected market size of US$ 154.1 billion by 2025. The escalating digitalization is the major driving factor behind the growth of the global digital payments market.

The increasing globalization in the emerging economies has fueled the rise of disposable incomes. The rising urbanization has driven the increasing penetration of smartphones, PCs, and smart devices. The global demand for smartphones coupled with technological advancements like high-speed internet connectivity further augments the market growth. The global smartphone subscriptions are expected to stand at 7.4 billion by 2025. The idea smartphones project that they can be the “all-uses” stop is the major growth factor for the digital payments market. The emergence of mobile wallets, digital currencies, and cryptocurrencies where the money is added to the application in the smartphone and can be spent either within or out is seen propelling the market growth of the digital payments.

The increasing trend and demand for cash-less payment over cash notes or bills payment are fueling the digital market growth. The greater convenience provided by digital wallets and digital payments has majorly influenced the growth of the market. The evolving consumer behaviour and consumer needs for hassle-free digital payment options are driving the market higher. The technological advantages the digital payment imparts to the end-users by instantaneous payments and transfers are propelling the market growth of the digital payments market.

The increasing retail stores and e-commerce platforms adopting digital payment services for payment modes positively influence the growth of the digital payments market. Online retailing services are rapidly growing and the trend is expected to improve tremendously over the next six years. The rising shift towards contact-less payment preferences has additionally added to the growth of the market.

The increasing industrialization has urged the need for spontaneous wire transfers across the World, which further drives the digital payment market. The advancing security measures provided by the digital payment market to the end-users around their money is increasing the market growth. Several Governments have started implementing favourable policies to the digital payment market in terms of reducing the cost of bill printing and to eliminate the threat of fake currencies doing rounds in the economy. The rising environment enthusiasts’ movements supporting less use of tree-derived paper for printing currency bills have also driven the market growth of the digital payments market.

Digital Payments Industry Regional Analysis
Digital Payments Market Research Report Scope/Definition
Digital Payments Market Share and Competition Key companies operating in this industry are: ACI Worldwide (US), Adyen (Netherlands), Aurus (US), Aliant Payments (US), Alipay (China), Apple Pay (US), Due (US), Dwolla (US), FattMerchant (US), FIS (US), Fiserv (US), Global Payments (US), Intuit (US), JPMorgan Chase (US), Mastercard (US), PayPal (US), Paysafe (UK), PayTrace (US), PayU (Netherlands), Spreedly (US), Square (US), Stripe (US), Visa (US), WEX (US), Worldline (France), and 2Checkout (US)

Digital Payments Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy

Industry Segmentation and Revenue Breakdown
Development Type Analysis (Revenue, USD Million, 2021 - 2028)
• On-premises
• Cloud

Organization Size Analysis (Revenue, USD Million, 2021 - 2028)
• Small and Medium Enterprises
• Large Enterprises

Vertical Analysis (Revenue, USD Million, 2021 - 2028)
• Banking, Financial Services, And Insurance
• Retail and Ecommerce
• Healthcare
• Travel and Hospitality
• Transportation and Logistics
• Media and Entertainment
• Other Verticals

Region Analysis (Revenue, USD Million, 2021 - 2028)
• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• Middle East
• Japan
• Africa
• Rest of World

Digital Payments Industry Companies
• ACI Worldwide (US)
• Adyen (Netherlands),
• Aurus (US),
• Aliant Payments (US),
• Alipay (China),
• Apple Pay (US),
• Due (US),
• Dwolla (US),
• FattMerchant (US),
• FIS (US), Fiserv (US),
• Global Payments (US),
• Intuit (US),
• JPMorgan Chase (US),
• Mastercard (US),
• PayPal (US),
• Paysafe (UK),
• PayTrace (US),
• PayU (Netherlands),
• Spreedly (US),
• Square (US),
• Stripe (US),
• Visa (US),
• WEX (US),
• Worldline (France)
• 2Checkout (US)

Available Versions of Digital Payments Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report

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