Payment Security Market Size, Trends, Industry Analysis, Forecast 2030 - Valuates Reports

According to the Latest Report from Valuates Reports, The global payment security market size was valued at $17.64 billion in 2020, and is projected to reach $60.56 billion by 2030, growing at a CAGR of 13.2% from 2021 to 2030. The payment security software is a type of information protection technology that reveals vulnerabilities, threats, and risks in a payment transaction system and prevents malicious attacks from intruders.

COVID-19 pandemic is expected to positively impact the growth rate of the payment security market, owing to rising adoption of online payment services across the globe and surge in need for high security and safety transaction processing system across various industries.

Increase in adoption of digital payment modes among the customers and the need to adhere to payment card industry data security standard (PCI DSS) guidelines are some of the important factors that boost the growth of the market across the globe. In addition, rise in fraudulent activities in e-commerce payment system is having positive impact on growth of the payment security market. However, lack of trust on online banking is hampering the payment security market growth. On the contrary, increase in demand for advanced payment security solutions for digital ecommerce and rise in use of payment applications across different industry verticals is expected to offer remunerative opportunities for expansion of the market during the forecast period.

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By component, the solution segment garnered the largest payment security market share in 2020, and is expected to maintain its dominance in the upcoming years, owing to increase in adoption of payment procession solution among several industries such as retail, manufacturing and media & entertainment. However, the service segment is expected to provide lucrative opportunity to boost the growth of the market during the upcoming years, owing to rise in investment by banks and financial institutions in the digital technology.

Competitive Analysis

The key players profiled in the payment security market analysis are Bluefin Payment Systems, Cybersource, Elavon Inc., Ingenico, Intelligent Payment Solutions Pvt Ltd., Paypal, Shift4 Payments, LLC, SISA, Signifyd, and Tokenex. These players have adopted various strategies to increase their market penetration and strengthen their position in the payment security industry.

COVID-19 Impact Analysis

The payment security market is projected to prosper in the COVID-19 situation, owing to rapid adoption of digital payment service among the people across globe. In addition, various banks and financial institutions are adopting payment security software for improving the loss suffered, owing to the pandemic situation and to improve their market share. In addition, there is a significant increase in cyber-crime and data breaches in banking sector during the lockdown which propels the growth of the market. In addition, different financial institution adopted payment security software due to rise in number of data breaches and lack of security within the organization to prevent unauthorized access to payment information. As a result, rise in number of data and security breaches during the COVID-19 pandemic in payment drives the market growth.

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Key Benefits For Stakeholders
➣The study provides an in-depth analysis of the global payment security market forecast along with the current & future trends to explain the imminent investment pockets.
➣Information about key drivers, restraints, & opportunities and their impact analysis on global payment security market trends is provided in the report.
➣Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
➣A quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.

Key Market Segments

By Component
➣Solution
➣Encryption
➣Tokenization
➣Fraud Detection & Prevention
➣Service

By Platform
➣Web-based
➣POS-based

By Organization Size
➣Large Enterprises
➣Small and Medium Enterprises

By Industry Verticals
➣BFSI
➣Government & Utilities
➣IT & Telecom
➣Healthcare
➣Retail & E-Commerce
➣Media & Entertainment
➣Travel & Hospitality
➣Others

By Regional and Country-level Analysis
➣North America
➣United States
➣Canada
➣Asia-Pacific
➣China
➣Japan
➣South Korea
➣India
➣Southeast Asia
➣Australia
➣Rest of Asia-Pacific
➣Europe
➣Germany
➣France
➣U.K.
➣Italy
➣Russia
➣Nordic Countries
➣Rest of Europe
➣Latin America
➣Mexico
➣Brazil
➣Rest of Latin America
➣Middle East & Africa
➣Turkey
➣Saudi Arabia
➣UAE
➣Rest of MEA

Key Market Players
➣Bluefin Payment Systems
➣Cybersource
➣Elavon Inc.
➣Ingenico.
➣Intelligent Payment Solutions Pvt Ltd.
➣Paypal
➣Shift4 Payments, LLC
➣SISA
➣Signifyd
➣Tokenex

Similar Reports:

Payment Processing Solutions Market: https://reports.valuates.com/market-reports/QYRE-Auto-25J944/global-payment-processing-solutions

Data Protection Market: https://reports.valuates.com/market-reports/QYRE-Auto-4Z1912/global-data-protection

Security Information and Event Management Market: https://reports.valuates.com/reports/QYRE-Auto-10M1895/global-security-information-and-event-management

Encryption Software Market: https://reports.valuates.com/reports/QYRE-Othe-4K440/encryption-software

Fraud Detection and Prevention Market: https://reports.valuates.com/reports/QYRE-Auto-20O4002/global-fraud-detection-prevention

Big Data Security Market: https://reports.valuates.com/market-reports/ALLI-Manu-0L50/big-data-security

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