Payment Security Market Predicted To Experience Massive Surge In Demand And Yield

The recent research report published by Quadintel gives an insight into the global Payment Security Market. According to this published competitive intelligence analysis, the global Payment Security Market is expected to experience a promising annual revenue increase (USD in Mn) in 2021. A comprehensive overview and precise insights into possible future scenarios for the worldwide market are provided in this study.

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 to 2023.

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Key Companies Covered in the Payment Security Market Research are Bluefin, SISA, Paygilant, Ingenico ePayments, ThreatMark, CyberSource, Braintree, Elavon, Intelligent Payments, Shift4 Payments and other key market players.

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.

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

oType- mobile payments, point of sales (POS) payments, and web payments

oSolution- antivirus and firewall, encryption, tokenization, and fraud detection and prevention

oEnd user- retail, travel and hospitality, healthcare, information technology (IT) and telecom, education, banking, financial services and insurance (BFSI), and others

Type segment insights:

The POS payment segment is expected to expand at a CAGR of 18.6% during the 20182023 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 20182023 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 20182023 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.

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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.

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

By Geography

Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand, and the Rest of Asia Pacific)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and the Rest of Europe)
Latin America (Brazil, Mexico, Argentina, and Rest of Latin America)
Middle East & Africa (GCC, North Africa, South Africa, and Rest of the Middle East & Africa)
North America (U.S. & Canada)
North America garnered a substantial market share in the Payment Security Market, due to growing demand for Payment Security Market products, and rising disposable income, followed by Latin America, Europe, and the Middle East & Africa respectively.

Presently, the Asia Pacific region conquers the Payment Security Market.

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List of Factors Covered in the Report are:

Geographical Breakdown: The regional section of the report analyses the market on the basis of region and national breakdowns, which includes size estimations, and accurate data on previous and future growth. It also mentions the effects and the estimated course of Covid-19 recovery for all geographical areas. The report gives the outlook of the emerging market trends and the factors driving the growth of the dominating region to give readers an outlook of prevailing trends and help in decision making.

Key inquiries addressed in the report:

Investigate the COVID 19 outbreak's effects.
Our researchers give precise responses, pinpoint significant chances and fresh investments, and suggest excellent market strategy avenues.
Key Points Covered in this Report

Chapter 1, About Executive Summary to describe Definition, Specifications and Classification of market, Applications, Market Segment by Regions North America, Europe or Asia.

Chapter 2, objective of the study.

Chapter 3, to display Research methodology and techniques.

Chapter 4 and 5, to show the Overall Market Analysis, segmentation analysis, characteristics;

Chapter 6 and 7, to show the Market size, share and forecast; Five forces analysis (bargaining Power of buyers/suppliers), Threats to new entrants and market condition;

Chapter 8 and 9, to show analysis by regional segmentation, comparison, leading countries and opportunities; Regional Marketing Type Analysis, Supply Chain Analysis

Chapter 10, focus on identifying the key industry influencer's, overview of decision framework accumulated through Industry experts and strategic decision makers;

Chapter 11 and 12, Market Trend Analysis, Drivers, Challenges by consumer behaviour, Marketing Channels and demand & supply.

Chapter 13 and 14, describe about the vendor landscape (classification and Market Positioning)

Chapter 15, deals with Market sales channel, distributors, traders, dealers, Research Findings and Conclusion, appendix and data source.

…….. and view more in complete table of Contents

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This release was published on openPR.