Digital Payment Market Size Worth USD 215.88 Billion in 2028

Digital Payment Market Report by Size, Share, Growth, Trend, Drivers and Restraint 2020-2028

The global digital payment market size is expected to reach USD 215.88 Billion at a steady CAGR of 13.3% in 2028, according to latest analysis by Emergen Research. Factors driving steady market revenue growth include rising Internet proliferation and growth of e-commerce sector. 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. 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 latest report on Digital Payment Market offers readers a deeper understanding of the potential target consumers to create a lucrative marketing strategy for the forecast duration from 2020 to 2028. It shall prove particularly helpful for entrepreneurs looking for information on potential customers. Selective public statements released by leading vendors will allow entrepreneurs to acquire a deeper understanding of the local market and prospective clients. The Global Digital Payment Market is growing rapidly and has witnessed significant advancement in recent years, with vital data becoming increasingly accessible and the shift from traditional analysis platforms to self-service analytics, which has dominated the market.

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To offer a more robust business perspective, this study on the global Digital Payment market involves key predictions to give the reader a deeper understanding of the sector. Analysts believe that this research report will be beneficial for financial experts, regulatory bodies, and policymakers. Independent research institutions, non-profit organizations, and corporate entities in the sectors can also leverage the insights offered by this report.

The market intelligence report on the Digital Payment Industry also includes an extensive investigation of the competitive landscape. It assesses the business and marketing strategies expected to be present in the market through the forecast years. It also includes an investigation of the recent advancements and other factors driving the growth of the overall market to help comprehend the progress of the companies in the coming years.

Top key Companies in Digital Payment Market include are:

Mastercard Inc., Fiserv Inc., Visa Inc., JPMorgan Chase & Co., PayPal Holdings Inc., Intuit Inc., Global Payments Inc., Stripe, PayU, and ACI Worldwide Inc.

While conducting primary research, the researchers observed that the rapid growth of the Digital Payment Market through the forecast duration is driven by the niche and emerging opportunities for the producers engaged in the worldwide Digital Payment market. The worldwide Digital Payment market has been categorized as product, end-user, and major geographic regions.

Some Key Highlights from the Report

  • In February 2021, Mastercard in collaboration with Fibank launched MyFin, which is a digital wallet for online payments and fast money transfers. MyFin delivers advanced features enabling peer-to-peer money transfer using payment links.
  • Digital payment security and fraud management solutions incorporate innovative security features, such as biometric authentication and tokenization to help lessen the threats associated with scams and chargebacks. A digital wallet, such as Alipay, deploys tokenization and advanced customer authentication to provide higher rates of transaction approval than other payment methods. Thus, digital payments, by delivering enhanced payment flexibility allows businesses to protect their revenue by preventing customer churn arising from insufficient at the time of making a purchase.
  • Large enterprises provide multiple digital payment options to improve their customer experience. Enterprise digital wallets are evolving as a cheaper, convenient, and secure payment method. Retail giants such as Walmart, Amazon, Kroger, and Alibaba have their enterprise digital wallets to provide the benefit of direct payments by customers and remove payment card intermediaries.
  • Digital payment market revenue in Asia Pacific is expected to register the fastest CAGR during the forecast period, attributed to increasing use of smartphones and rapid growth of e-commerce industry. Additionally, rising disposable income and favorable government policies to boost digital economy is expected to support market growth in the region. China and India collectively account for about 70% of e-wallet users worldwide.

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)
    • Solutions
      1. Payment Gateway Solutions
      2. Payment Wallet Solutions
      3. Payment Processing Solutions
      4. Payment Security & Fraud Management Solutions
      5. Point of Sale Solutions
    • Services
      1. Professional Services
      2. 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)
    • On-Premises
    • Cloud
  • Industry Vertical Outlook (Revenue, USD Billion; 2018–2028)
    • BFSI
    • Healthcare
    • Retail
    • Transportation & Logistics
    • Travel & Hospitality
    • Media & Entertainment
    • Others

Access the Entire Report packed with TOC, Tables and Figures and Outline of Prominent [email protected] https://www.emergenresearch.com/industry-report/digital-payment-market

Region wise performance of the Digital Payment industry

This report studies the global Digital Payment market status and forecast, categorizes the global Digital Payment market size (value & volume) by key players, type, application, and region. This report focuses on the top players in North America, Europe, China, Japan, Southeast Asia India and Other regions (Middle East & Africa, Central & South America).

Geographically, this report studies the key regions, focuses on product sales, value, market share and growth opportunity in these regions, covering:

  • United States
  • Europe
  • China
  • Japan
  • Southeast Asia
  • India

We can also provide the customized separate regional or country-level reports, for the following regions:

North America, United States, Canada, Mexico, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Singapore, Rest of Asia-Pacific, Europe, Germany, France, UK, Italy, Spain, Russia, Rest of Europe, Central & South America, Brazil, Argentina, Rest of South America, Middle East & Africa, Saudi Arabia, Turkey, Rest of Middle East & Africa

Table of Content

Chapter 1. Methodology & Sources

1.1. Digital Payment Market Definition

1.2. Research Scope

1.3. Methodology

1.4. Research Sources

1.4.1. Primary

1.4.2. Secondary

1.4.3. Paid Sources

1.5. Digital Payment Market Estimation Technique

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2021-2028

Chapter 3. Key Insights

Chapter 4. Digital Payment Market Segmentation & Impact Analysis

4.1. Digital Payment Market Material Segmentation Analysis

4.2. Industrial Outlook

4.2.1. Digital Payment Market indicators analysis

4.2.2. Digital Payment Market drivers analysis

4.2.2.1. Rapid urbanization and industrialization

4.2.2.2. Stringent government regulations regarding carbon emissions

4.2.2.3. Increasing prevalence of respiratory diseases

4.2.2.4. Rising need to enhance indoor air quality

4.2.3. Digital Payment Market restraints analysis

4.2.3.1. High cost associated with the maintenance of Digital Payment products

4.2.3.2. Availability of renewable sources of energy

4.3. Technological Insights

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

4.6. Competitive Metric Space Analysis

4.7. Price trend Analysis

4.8. Covid-19 Impact Analysis

Chapter 10. Competitive Landscape

10.1. Digital Payment Market Revenue Share By Manufacturers

10.2. Mergers & Acquisitions

10.3. Competitor’s Positioning

10.4. Strategy Benchmarking

10.5. Vendor Landscape

10.5.1. Raw Material Suppliers

10.5.1.1. North America

10.5.1.2. Europe

10.5.1.3. Asia Pacific

10.5.1.4. Middle East & Africa

10.5.1.5. Latin America

10.5.2. Distributors

10.5.2.1. North America

10.5.2.2. Europe

10.5.2.3. Asia Pacific

10.5.2.4. Middle East & Africa

10.5.2.5. Latin America

10.5.3. Others

Continued….

We can customize our reports for our customers, for instance, we can add or remove manufacturers, applications or product types, whatever you need in the report. Ask for it by contacting [email protected] https://www.emergenresearch.com/request-for-customization/607

The Digital Payment research focuses on the possible strengths, drivers, restraints, challenges, threats, opportunities, which can impact the progress of the global Digital Payment market. The viability of new projects and launches has also been evaluated by analysts in this report.

Reasons to buy the report:

  1. This study segments the Digital Payment market and derives the precise valuation of the overall, as well as segment-based, market across different industry verticals, geographies, and products.
  2. The report will help participants understand the trajectory of the progress of the market and provide information on key drivers, restraints, challenges, threats, and opportunities for the growth of the Digital Payment sector.
  1. This report would allow readers to be well-versed with the existing competition and gain more insights to improve their standing in the worldwide business. The competitive landscape considers the dominant competitors, along with product launches and technological advancements, strategic expansions, mergers and acquisitions, and procurement strategies implemented by key players in the market.

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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