Digital Payment Market Outlooks 2020: Industry Analysis, Top Companies, Growth rate, Cost Structures and Opportunities to 2027: Reports And Data

Reports and Data have recently published a report on the global Digital Payments market. The study was backed by data that had been derived either from primary sources or from company databases. The study is made using tools like SWOT analysis and Porter’s Five Forces Analysis. The study highlights the strengths, weaknesses, opportunities, and threats of each Digital Payments market player comprehensively. Further, the Digital Payments market report emphasizes the adoption of Digital Payments across various industries.

The study assesses the impact of the COVID-19 pandemic on the global economy. The outbreak has drastically affected the current business landscape and, subsequently, manufacturers and buyers. The report discusses its impact on the existing scenario as well as speculations about the post-COVID-19 scenario.

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The Digital Payments market report highlights the following players: Apple Pay, PayPal, Google Pay, PayU, VISA, Paytm, Mastercard, Barclaycard, American Express, Bitcoin.

Payment Method Outlook (Revenue, USD Billion; 2016-2026)
POS Devices
Net Banking
Digital eWallets
Mobile Banking
Cryptocurrencies

Backend Operation Type Outlook (Revenue, USD Billion; 2016-2026)
Encryption & Security Management
Transaction Risk Management
Application Program Interface
Payment Gateway
Blockchain & Data Mining

Organization Size Outlook (Revenue, USD Billion; 2016-2026)
SMEs
Large Enterprises

End Users Type Outlook (Revenue, USD Billion; 2016-2026)
Banking & Financial Sectors
Hotels & Restaurants
eCommerce
Retail
Corporate Sectors
Public Sectors
Healthcare
Transportation & Telecommunication
Others

Regional Outlook (Revenue, USD Billion; 2016-2026)
North America
Europe
Asia Pacific
MEA
Latin America

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Further key findings from the report suggest

1. Point-of-Sale (POS) Devices segment held the largest market share of 56.4% in 2018. POS devices are further segmented into Contactless Near Field Communication (NFC) Transactions in which the NFC enabled cards and devices are placed closer to complete the transaction without inserting the card into the vending machine while in the other way the debit or credit cards are inserted for the purchase. Apple Pay and Samsung Pay are two examples of NFC transactions. VISA cards now mostly come with NFC inbuilt.

2. Amongst end users, banking & financial sectors segment is likely to continue being the dominator of the market with almost 22.0% of market possession and would grow with a CAGR of 15.1% by 2026. Banking & financial sectors are the core participator of this market. Apart from their operational exercise with digital payment, most of the other end users while using any digital transactions are backed by the banking & financial segment, thus gaining them the highest market share amongst the other segment of digital payment market.

3. Mobile Banking is the process of a direct transaction from the bank account to the merchant gateway via a third party application. This segment needs the highest level of encryptions as there is no intermediate process involved in between the two gateways. The difference between net banking and mobile banking is that net banking can be done only on the respective bank website and on the other hand mobile banking doesn't need the bank account website for the transaction. The CAGR is 25.2% by 2026 for this segment.

The Digital Payments market report considers the following timeline to predict market growth:
• Historical Year: 2016 – 2019
• Base Year: 2019
• Estimated Year: 2020
• Forecast Year: 2020 – 2027

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The report provides accurate market estimations and how these forecasts are made. It is also available for customization according to individual requirements for enhanced comprehensibility and usefulness.

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This release was published on openPR.