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Payment Security Market CAGR to grow 17.7% by 2023 Worldwide

03-04-2019 01:33 PM CET | IT, New Media & Software

Press release from: Planet Market Reports

Payment Security Market Analysis Report

Payment Security Market Analysis Report

The rising penetration of smartphones, acceptance of wearable technology, cumulative adoption of m-commerce and e-commerce by banking and financial services, entry of technology companies, and access to diverse payment technology solutions are predicted to drive the industry, regardless of technological, financial and security challenges restraining the ecosystem in several key regions. According to Planet Market Reports, the global payment security market is expected to grow to USD 48.85 Bn by 2023, expanding at a compound annual growth rate CAGR of 17.7% during 2018–2023.

In this report, the global payment security market is classified into three segments, based on the subscription model:

o Type - mobile payments, point of sales POS payments, and web payments
o Solution - antivirus and firewall, encryption, tokenization, and fraud detection and prevention
o End user - retail, travel and hospitality, healthcare, information technology IT and telecom, education, banking, financial services and insurance BFSI , and others

Get a Free Sample Copy of this Report @ https://www.planetmarketreports.com/report-sample/global-payment-security-market-2018-2023

Type segment insights:

The POS payment segment is expected to expand at a CAGR of 18.6% during the 2018–2023 period. This segment is likely to be in the leading position in the market throughout the forecast period. Increasing consumer awareness, and the conveniences of online shopping can be attributed to the growth of POS-based platforms. Payment security providers use artificial intelligence AI -based tools for purposes such as fraud detection and customer interaction.

Solution segment insights:

The fraud detection and prevention segment holds the largest market share, and is expected to expand at a CAGR of 14.4% during the 2018–2023 period. The public utilities and government vertical is predicted to hold the largest market share in the fraud detection market. Frauds in the public sector include misappropriation of assets, data theft, bribery and corruption, accounting fraud, and money laundering. To tackle these issues, data integrity is of utmost importance.

End user segment insights:

The retail and BFSI segments are anticipated to expand at a CAGR of 18.5% and 20.6% respectively during the 2018–2023 period. Security plays a vital role in online trade. Data breaches make customers wary and influence them into discontinuing with the affected e-commerce websites. They prefer bank transfers and credit cards for travel payments. North America is the leading market for the payment security software segment. Due to increasing investments in online payment technologies, it is anticipated that this market will retain its position during the forecasted period.

Regional insights:

The global payment security market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. North America holds the largest market share of the payment security market. However, Asia-Pacific will be the fastest growing market due to increasing use of mobile payments. With consumers increasingly embracing digital wallets, banks and businesses have transformed their payment infrastructures to support this surge.

Get More Information about this Report and TOC @ https://www.planetmarketreports.com/reports/global-payment-security-market-2018-2023

Companies covered:

1. Bluefin
2. SISA
3. Paygilant
4. Ingenico ePayments
5. ThreatMark
6. CyberSource
7. Braintree
8. Elavon
9. Intelligent Payments
10. Shift4 Payments

Customizations available

With the given market data, Planet Market Reports offers customizations according to specific needs. Write to us at sales@planetmarketreports.com, or connect with us here.

Planet Market Reports gives statistical surveying reports to businesses, people and associations with a goal of helping them in their decision making process. We have huge database of market research reports & company profiles across globe. We offer premium progressive statistical surveying, market research reports, analysis & forecast data for industries and governments around the globe.

Planet Market Reports understand how essential statistical surveying information is for your organization or association. Therefore, we have associated with the top publishers and research firms all specialized in specific domains, & industry experts which provides you deeper penetration of market research industry ensuring you will receive the most reliable and up to date research data available.

We have statistical surveying reports from number of top publishers and update our reports collections on daily basis. Planet Market Reports seasoned and well-informed team of Research Coordinators works closely with you, offering unbiased and expert advice on the most appropriate market research reports. With their in-depth knowledge of market research trends, industry verticals and market research publishers, many organizations regard the services of our Research Coordinators as being indispensable. We help you in your buy choice by mapping your data needs with our immense accumulation of reports. Get in touch with us for your special interest needs and we will connect inside 24hrs to enable you to discover the market research report you require.

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Name: Jennifer Daniel
Email-Id: sales@planetmarketreports.com
US:  +1-716-2260907
UK: +447441952057
Organization: Planet Market Reports

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