Press release
Real Time Payments Global Market Report 2024: Key Players, Industry Growth Analysis And Forecasts 2033
Real Time Payments Market
The Business Research Company offers in-depth market insights through Real Time Payments Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The real-time payments market size has grown exponentially in recent years. It will grow from $27.76 billion in 2023 to $36.75 billion in 2024 at a compound annual growth rate (CAGR) of 32.4%. The growth in the historic period can be attributed to consumer demand for instant gratification, mobile and digital wallet adoption, globalization and cross-border transactions, regulatory initiatives, e-commerce growth..
The real-time payments market size is expected to see exponential growth in the next few years. It will grow to $119.21 billion in 2028 at a compound annual growth rate (CAGR) of 34.2%. The growth in the forecast period can be attributed to increasing demand for business efficiency, changing consumer behavior, enhanced security measures, increased financial inclusion initiatives, rise of central bank digital currencies (cb*dcs).. Major trends in the forecast period include open banking and api integration, peer-to-peer (p2p) and social payments, blockchain and distributed ledger technology, real-time payroll and business payments, customer experience enhancement..
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Market Segmentation:
The real-time payments market covered in this report is segmented -
1) By Component: Solutions, Services
2) By Type: Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P), Others (Business-to-Government (B2G), Government-to-Business (G2B), Business-to-Business (B2B), Person-to-Government (P2G), and Government-to-Person (G2P))
3) By Enterprise Size: Small and Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Deployment: On-Premise, Cloud
5) By End Users: Retail and E-commerce, Government and Utilities, Healthcare, Telecom and IT, Travel and Hospitality, BFSI, Other End-Users
Major Driver - Smartphone Adoption A Key Driver For Real-Time Payment Market Expansion
The increasing penetration of smartphones is expected to propel the growth of the real-time payment market going forward. A smartphone is a portable electrical device that combines a computer with high-tech features that weren't previously seen in telephones, such an operating system, web browsing, and the capacity to run software programs. The widespread usage of smartphones throughout the world facilitated real-time payment transactions, and smartphone payments became a convenient choice for users. For instance, in October 2021, according to The Economic Times, an Indian business newspaper, India has the highest monthly mobile data usage rate in the world (12 GB per person), and it adds 25 million new smartphone users every three months. Therefore, the increasing penetration of smartphones is driving the real-time payment market growth.
Competitive Landscape:
Major companies operating in the real-time payments market report are ACI Worldwide Inc., FIS Corporation, Fiserv Inc., Mastercard Inc., Visa Inc., Temenos AG, Wirecard AG, Capgemini SE, Finastra Limited, Montran Corporation Ltd., Ripple Labs Inc., PelicanFast, IntegraPay Pty Ltd., Worldpay Inc., Volante Technologies Inc., PayPal Holdings Inc., Square Inc., Stripe Inc., Worldline SA, Global Payments Inc., Adyen N. V., Ant Financial Services Group, Apple Inc., Google LLC, Samsung Electronics Co. Ltd., Tencent Holdings Limited, Paytm (One97 Communications Ltd. ), PayU (Naspers Ltd. ), Dwolla Inc., TransferWise Ltd.
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https://www.thebusinessresearchcompany.com/report/real-time-payments-global-market-report
Top Trend - Tech Innovations Transform Real-Time Payments Market Dynamics
Technological advancements have emerged as a key trend gaining popularity in the real-time payments market. Major companies operating in the real-time payments sector are focused on developing new technologies to strengthen their position in the market. For instance, in April 2022, IBM, a US-based technology corporation operating in the real-time payments market, launched a new generation mainframe with artificial intelligence technology. The new IBM z16 processor can support deep learning-based fraud detection for all transactions.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Real Time Payments Market Characteristics
3. Real Time Payments Market Trends And Strategies
4. Real Time Payments Market - Macro Economic Scenario
5. Real Time Payments Market Size And Growth
…..
27. Real Time Payments Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology.
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