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Payment Gateway market is expected to reach a value of US$ 189 Bn by 2032

02-12-2024 03:01 PM CET | IT, New Media & Software

Press release from: Fact.MR

Payment Gateway

Payment Gateway

In 2022, the global payment gateway market reached a valuation of US$ 26 billion, and it is anticipated to exhibit a robust compound annual growth rate (CAGR) of 21% from 2022 to 2032. The upsurge in demand for mobile-based payments worldwide is a pivotal factor driving this market expansion.

Additionally, the surge in e-commerce sales and the widespread penetration of the internet on a global scale are key contributors expected to propel the growth of the payment gateway industry. Moreover, the increasing preference of both merchants and consumers for digital channels in facilitating online money transfers is foreseen to further fuel market growth in the coming years.

For comprehensive insights, request a sample report at: https://www.factmr.com/connectus/sample?flag=S&rep_id=7159

Enterprises are increasingly seeking secure payment gateways that facilitate safe online transactions, preventing credit or debit card and illicit activities. These reliable payment gateways employ encryption techniques to secure sensitive information, such as bank account and card numbers, ensuring secure transmission from the consumer to the issuing bank. Furthermore, they alleviate the inconveniences associated with physical store purchases and long queues, allowing consumers to seamlessly complete online transactions for a frictionless purchasing experience.

The objective of this study is to provide an overview of the global payment gateway industry, including extensive market segmentation. The report assesses the current state of the payment gateway market and projects its trajectory until 2032. Various dynamics impacting the industry during the forecast period are analyzed in the study. Additionally, the research delves into the competitive landscape, geographical trends, and market prospects across all regions. Thorough company profiles of leading players in the industry, along with their market strategies, are provided. The study also includes a PEST analysis for each of the five regions and a SWOT analysis for each organization highlighted in the report.

North America plays a pivotal role in the payment gateway market, contributing the highest revenue globally due to technological advancements and widespread implementation of payment gateways across various end-user segments. The rapidly growing economies in Asia-Pacific (APAC), coupled with significant expansion in the construction sector, are expected to drive further adoption and boost the payment gateway market.

Browse Full Report: https://www.factmr.com/report/payment-gateway-market

Competitive Landscape:
Market players adopt various strategies to enhance their market reach, including acquisitions, partnerships, and collaborations. Recent developments among key players include:

In February 2022, Adyen partnered with Ding to optimize its payment systems and strengthen its international growth.
In the same month, Network International announced a partnership with Amazon Payment Services to provide online payment solutions to merchants in the UAE.

Scope of the Report:
A recent Fact.MR report on the global payment gateway industry provides a 10-year forecast from 2022 to 2032. The study examines key trends currently influencing market growth and explains key aspects such as drivers, restraints, and opportunities for key market players, stakeholders, and new businesses involved in providing payment gateway services.

The report also discusses factors that will influence the future position of the payment gateway market over the forecast period. The research includes a thorough examination of value chain analysis, business execution, and supply chain analysis across regional marketplaces.

This comprehensive research study is strengthened by a list of significant firms active in the global payment gateway market, along with their product portfolios, key strategies, and SWOT analysis.

To delve deeper into the Payment Gateway Market, you can contact our Analyst at: https://www.factmr.com/connectus/sample?flag=AE&rep_id=7159

COVID-19 Scenario Analysis:
Since the outbreak of COVID-19 in December 2019, the global impacts of the disease have been profound, prompting the WHO to declare it a public health emergency. The disease is predicted to significantly influence the global payment gateway business by 2020.
Despite lockdowns imposed by governments to control the spread of the virus, businesses have shifted to online operations, conducting financial transactions online, thereby boosting the payment gateway market.
E-commerce sales experienced a surge during the COVID-19 pandemic, contributing to market growth.

Key Takeaways from the Market Study:
The market is projected to reach a value of USD 26 billion in 2022.
North America is expected to dominate the market, acquiring more than 36% of the global revenue share in 2021.
APAC is anticipated to be the fastest-growing regional market during the forecast period.
The hosted segment is projected to secure 57% of the global revenue share.
The large enterprise segment is expected to account for about 55% of the global revenue.
The retail and e-commerce segment is anticipated to dominate the market in 2021, acquiring about 24% of the market share.

Related Reports:
Biometric Payment Market Outlook (2022 to 2032)
https://www.factmr.com/report/1850/biometric-payment-market

Mobile Payment market is expected to reach nearly US$ 590 Bn by 2032
https://www.factmr.com/report/mobile-payment-market

About Fact.MR
Market research and consulting agency with a difference! That's why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range - from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we'll be an able research partner.

Contact:
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United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

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