Digital Payment Market 2021-26: Global Trends, Size, Growth, Opportunity, Industry Report and Competitive Outlook

According to the latest report by IMARC Group, titled “Digital Payment Market: Global Industry Size, Share, Trends, Growth, Opportunity and Forecast 2021-2026”, the global digital payment market reached a value of US$ 56.43 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 20.3% during 2021-2026.

As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.

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Digital payment or electronic payment is a convenient and secured payment method of sending or receiving money electronically or over-the-internet. It is more reliable and safer than conventional cash transactions by providing secured payment gateways and direct transactions with the banks. Furthermore, digital payments are easily traceable as details of the payments are stored in a merchant-specific database. Both merchants and customers have access to the payment information to avoid ambivalence and confusion while tracking payments.

Market Trends and Drivers:

The digital payment market is currently driven by high internet connectivity and increasing rising penetration of Internet-of-Things (IoT)-based devices. In line with this, the governments across various countries are undertaking numerous initiatives to promote and support digital payment as it helps them to restrain tax frauds and maintain money trails. Furthermore, the emergence of e-commerce platforms, along with the integration of digital payments with several advanced technologies, such as blockchain, machine learning, Artificial Intelligence (AI), etc., is also propelling the global digital payment market growth. Moreover, the sudden outbreak of the COVID-19 pandemic, in early 2020, had resulted in a rapid shift towards digital payment solutions to mitigate the risk of coronavirus infection in cash-based transactions requiring human interaction.

Digital Payment Market 2021-2026 Competitive Analysis and Segmentation:

Competitive Landscape With Key Players:

The competitive landscape of the global digital payment market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

Apple Inc.
Total System Services Inc.
Paypal Holdings Inc.
Amazon.com Inc.
Fiserv Inc.
ACI Worldwide Inc.
Mastercard Incorporated
Wirecard AG
Visa Inc.
Novetti Group Limited
American Express Company

Key Market Segmentation:

The report has segmented the global digital payment market on the basis of region, payment mode, component, deployment type and end use industry.

Breakup by Region:

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

Breakup by Payment Mode:

Bank Cards
Digital Currencies
Digital Wallets
Net Banking
Others

Breakup by Component:

Solutions:
Application Program Interface
Payment Gateway
Payment Processing
Payment Security and Fraud Management
Transaction Risk Management
Others

Services:
Professional Services
Managed Services

Breakup by Deployment Type:

Cloud-based
On-premises

Breakup by End Use Industry:

BFSI
Healthcare
IT and Telecom
Media and Entertainment
Retail and E-commerce
Transportation
Others

Ask Analyst for Customization and Explore full report with TOC & List of Figures: https://www.imarcgroup.com/digital-payment-market

Key Highlights of the Report:

• Market Performance (2015-2020)
• Market Outlook (2021-2026)
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• The Impact of COVID-19 on the Global Market
• Value Chain Analysis
• Structure of the Global Market
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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