Payment Security Market and Projected to Reach US$ 24.63 Billion Growing at CAGR 16.7% to 2022

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The Payment Security Market size is expected to grow from US$ 11.39 Billion in 2017 to US$ 24.63 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7%.The growth of the payment security market is driven by various factors, such as increased adoption of digital payment modes, need to adhere to PCI guidelines, and rise in fraudulent activities on eCommerce.

“The retail vertical is expected to dominate the payment security market.”
The popularity of online shopping is increasing in the retail industry. Retail merchants regularly face a challenge in managing consumer's sensitive data related to payment cards and complying with the regulations. This vertical is one of the most targeted verticals by cyber-attackers because of the potential payouts and huge number of monetary transactions made via VISA, MasterCard, and other payment processing networks.

“Asia Pacific (APAC) is expected to have the highest growth rate during the forecast period.”
APAC includes emerging economies such as China, Australia, Singapore, and India, which are rapidly deploying payment security solutions. It is expected to grow at the highest CAGR during the forecast period. This is mainly due to the rise in fraudulent activities on eCommerce in many industry verticals, such as retail, Information Technology (IT) and telecom, travel and hospitality, healthcare, and education.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the payment security market.
• By Company Type: Tier 1: 55%, Tier 2: 20%, and Tier 3: 25%
• By Designation: C-Level: 60%, Director Level: 25%, and Others: 15%
• By Region: North America: 40%, Europe: 20%, APAC: 10%, and RoW: 30%

Study objective:
The objective of the report is to define, describe, and forecast the global payment security market on the basis of components (solutions and services), organization sizes, industry verticals, and regions. The report analyzes the market opportunities for stakeholders by identifying high-growth segments of the market. Furthermore, the report profiles the key players of the market and comprehensively analyzes their core competencies, such as new product launches, acquisitions, partnerships, agreements, and collaborations. Moreover, the report also covers detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).

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#Top Key Players in the “Payment Security Market” include are Braintree (Illinois, US), Cyber Source Corporation (California, US), Elavon (Georgia, US), Index (Nevada, US), Ingenico ePayments (Hoofddorp, Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (Virginia, US), Shift4 Corporation (Nevada, US), Transaction Network Services (TNS) Inc. (Virginia, US), and TokenEx, LLC (Oklahoma, US).

#Target Audience for Payment Security Market: Government agencies,Payment security vendors,Network solution providers,Independent software vendors,Consulting firms,System integrators,VARs,Managed Security Service Providers (MSSPs).

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