Buy Now Pay Later Market Update Know Whose Market Share Is Getting Bigger And Bigger | Affirm, Afterpay, Splitit

The latest study released on the Global Buy Now Pay Later Market by HTF MI evaluates market size, trend, and forecast to 2030.
The Buy Now Pay Later market study covers significant research data and proofs to be a handy resource document for managers, analysts, industry experts and other key people to have ready-to-access and self-analyzed study to help understand market trends, growth drivers, opportunities and upcoming challenges and about the competitors.

Key Players in This Report Include: Simpl (India), ZestMoney (India), LazyPay (India), Flexmoney (India), ePayLater (India), Paytm Postpaid (India), Affirm (United States), Afterpay (Australia), Sezzle (United States), PayPal Pay in 4 (United States), Klarna (Sweden), Splitit (United States), Zip (Australia), Uplift (United States), Flava (United Kingdom)

According to HTF Market Intelligence, the global Buy Now Pay Later market is valued at USD 9,739 Million in 2023 and estimated to reach a revenue of USD 30,210 Million by 2029, with a CAGR of 20.76% from 2023 to 2030.

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Definition:

Buy Now, Pay Later" (BNPL) is a financing option that allows consumers to make purchases and defer the payment for a later date. This payment model enables individuals to acquire goods or services immediately and delay the payment either through installment plans or by paying the full amount after a specified period.
Typically, BNPL services are offered by third-party financial companies or integrated into the checkout process of retailers. Consumers may choose to pay for their purchases in equal installments over a fixed period, usually ranging from a few weeks to several months. Some BNPL services also provide interest-free options, while others may charge interest or fees.

Market Trends:

The rise of e-commerce has contributed significantly to the popularity of BNPL services.
Many online retailers integrate BNPL options into their checkout processes, making it easier for customers to choose this payment method.

Market Drivers:

BNPL offers consumers the convenience of making immediate purchases without the need to pay the full amount upfront.
This flexibility appeals to individuals who prefer to manage their budgets through smaller, manageable payments over time.

Market Opportunities:

BNPL options can boost sales for retailers by attracting customers who might be hesitant to make a purchase if required to pay the full amount upfront.
The flexibility of spreading payments over time can encourage consumers to make larger or more frequent transactions.

Segmentation Overview :

The study has segmented the market of Global Buy Now Pay Later market by Type (Web Based App Based) , by Application (Home & Lifestyle, Fashion, Auto, Fitness & Sporting Goods, Travel, Other) and Region with a country level break-up. On the basis of Type, App Based is dominating the market and held 69.33% of market share in the year 2022 whereas Web Based stood as second largest market share and accounted for 30.67%. On the basis of application, Card segment is dominating the market and hold 49.50% of market share in the year 2022 where as Digital/Mobile Wallet segment stood as the second largest market.

Key Development Activities :

On July 13, 2021, PROG Holdings, Inc. announced that it has acquired Four Technologies, Inc., the company behind Four, a cutting-edge Buy Now, Pay Later (BNPL) platform that lets users buy things in four interest-free installments. A buy now, pay later (BNPL) solution with the issuance of single-use virtual cards and comprehensive loan servicing was announced by Galileo Financial Technologies, LLC on December 6, 2022.

Target Audience:

New Entrants/Investors
Analysts and Strategic Business Planners
New Entrants and Investors
Banking, finance and insurance sector
Government Bodies
Others

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The Global Buy Now Pay Later Market segments and Market Data Break Down are illuminated below:

Global Buy Now Pay Later Market Breakdown by Application (Home & Lifestyle, Fashion, Auto, Fitness & Sporting Goods, Travel, Other) by Type (Web Based, App Based) by POS Payment Method (Cash, Card, Debit Cards, Credit Cards, Digital/Mobile Wallet, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
Global Buy Now Pay Later market report highlights information regarding the current and future industry trends, growth patterns, as well as it offers business strategies to helps the stakeholders in making sound decisions that may help to ensure the profit trajectory over the forecast years.

Geographically, the detailed analysis of consumption, revenue, market share, and growth rate of the following regions:

• The Middle East and Africa (South Africa, Saudi Arabia, UAE, Israel, Egypt, etc.)
• North America (United States, Mexico & Canada)
• South America (Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, etc.)
• Europe (Turkey, Spain, Turkey, Netherlands Denmark, Belgium, Switzerland, Germany, Russia UK, Italy, France, etc.)
• Asia-Pacific (Taiwan, Hong Kong, Singapore, Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia).

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Objectives of the Report

• -To carefully analyze and forecast the size of the Buy Now Pay Later market by value and volume.
• -To estimate the market shares of major segments of the Buy Now Pay Later
• -To showcase the development of the Buy Now Pay Later market in different parts of the world.
• -To analyze and study micro-markets in terms of their contributions to the Buy Now Pay Later market, their prospects, and individual growth trends.
• -To offer precise and useful details about factors affecting the growth of the Buy Now Pay Later
• -To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Buy Now Pay Later market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

Major highlights from Table of Contents:

Buy Now Pay Later Market Study Coverage:

• It includes major manufacturers, emerging player's growth story, and major business segments of Buy Now Pay Later market, years considered, and research objectives. Additionally, segmentation on the basis of the type of product, application, and technology.

• Buy Now Pay Later Market Executive Summary:

It gives a summary of overall studies, growth rate, available market, competitive landscape, market drivers, trends, and issues, and macroscopic indicators.
• Buy Now Pay Later Market Production by Region Buy Now Pay Later Market Profile of Manufacturers-players are studied on the basis of SWOT, their products, production, value, financials, and other vital factors.

• Key Points Covered in Buy Now Pay Later Market Report:

• Buy Now Pay Later Overview, Definition and Classification Market drivers and barriers
• Buy Now Pay Later Market Competition by Manufacturers
• Impact Analysis of COVID-19 on Buy Now Pay Later Market
• Buy Now Pay Later Capacity, Production, Revenue (Value) by Region (2023-2030)
• Buy Now Pay Later Supply (Production), Consumption, Export, Import by Region (2023-2030)
• Buy Now Pay Later Production, Revenue (Value), Price Trend by Type {Web Based, App Based}
• Buy Now Pay Later Manufacturers Profiles/Analysis Buy Now Pay Later Manufacturing Cost Analysis, Industrial/Supply Chain Analysis, Sourcing Strategy and Downstream Buyers, Marketing
• Strategy by Key Manufacturers/Players, Connected Distributors/Traders Standardization, Regulatory and collaborative initiatives, Industry road map and value chain Market Effect Factors Analysis.

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Key questions answered

How feasible is Buy Now Pay Later market for long-term investment?
What are influencing factors driving the demand for Buy Now Pay Later near future?

What is the impact analysis of various factors in the Global Buy Now Pay Later market growth?

What are the recent trends in the regional market and how successful they are?
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This release was published on openPR.