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Payment Gateway Market Share, Size, Trends, Industry Analysis Report 2023-2032 | Aquatech International LLC, Veolia Water Technologies Inc, Creative Water Solutions, Sapphire Water Systems
Payment Gateway Global Market
The Business Research Company's Payment Gateway Global Market Report 2023 identifies the rise in digital payments as the major driver for the Payment Gateway market's growth in the forecast period. The rise in digital payments is expected to propel the growth of the payment gateway market going forward. Digital payments are electronic transactions conducted without the use of cash or checks, utilizing methods like credit cards, debit cards, mobile wallets, and online payment systems. The increase in digital payments requires payment gateways that provide a secure connection between a business's website and a payment processing company, which handles the payment processing for the business through which the digital payment took place.
The global payment gateway market size is expected to grow from $27.32 billion in 2022 to $32.05 billion in 2023 at a compound annual growth rate (CAGR) of 17.31%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global payment gateway market size is expected to reach $60.00 billion in 2027 at a CAGR of 16.97%.
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Major competitors in the Payment Gateway market are Aquatech International LLC, Veolia Water Technologies Inc, Creative Water Solutions, Sapphire Water Systems, Minerals Technologies Inc, M. W. Watermark, Culligan International, Water Professionals, Ecolab Inc.
A key trend in the Payment Gateway market includes Voice recognition technology. Companies operating in the payment gateway market are adopting new technologies to sustain their position in the market. For instance, in February 2023, Ubona Technologies, an India-based speech recognition company, launched 123 UPI, a first-of-its-kind speech recognition technology-based payments solution that allows users to make digital payments in their preferred Indian language using any phone (feature phone or smartphone). This solution employs an automatic speech recognition engine to assist people in transacting in their preferred Indian language, allowing them to make digital payments in their native language.
Read More On The Global Payment Gateway Market Report Here:
https://www.thebusinessresearchcompany.com/report/payment-gateway-global-market-report
The Payment Gateway market is segmented -
1) By Type: Hosted, Non-Hosted
2) By Enterprise Size: Large Enterprise, Small And Medium Enterprise
3) By End-User: Travel And Hospitality, Banking, Financial Services And Insurance (BFSI), Retail And E-Commerce, Media And Entertainment, Other End Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Payment Gateway market.
The Business Research Company's "Global Payment Gateway Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Payment Gateway Market Include:
1. Executive Summary
2. Payment Gateway Market Characteristics
3. Payment Gateway Market Trends And Strategies
4. Payment Gateway Market - Macro Economic Scenario
5. Payment Gateway Market Size And Growth
……
27. Payment Gateway Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Payment Gateway Market
29. Payment Gateway Market Future Outlook and Potential Analysis
30. Appendix
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