Digital Payment Market May See a Big Move | Major Giants WildApricot, Stripe, Apple

According to HTF Market Intelligence, the Global Digital Payment market to witness a CAGR of 14.3% during forecast period of 2023-2028. Global Digital Payment Market Breakdown by Application (BFSI, Retail, Healthcare, Transportation, Hospitality, Consumer Electronics, Others) by Type (Cloud-Based, On-Premise) by Organization Size (Small and Medium Sized Enterprise (SMEs), Large Enterprise) by Payment Type (Mobile Payment, Online Banking, Point of Sale, Digital Wallet) and by Geography (North America, South America, Europe, Asia Pacific, MEA). The Digital Payment market size is estimated to increase by USD 16.36 Billion at a CAGR of 14.3% from 2023 to 2028. The report includes historic market data from 2017 to 2022E. Currently, market value is pegged at USD 3.53 Billion.

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Digital payments refer to the use of electronic or digital methods to make financial transactions, replacing traditional cash and paper-based methods.

Digital Payment market - Key Segment Analysis

The market share growth by the Cloud-Based segment will be significant during the forecast period. The segment is driven by the Convenience and ease of use for consumers..

Digital Payment market - Competition Analysis
The global Digital Payment market is seeing several joint ventures to intensify the capability of manufacturers and/or companies to establish geographic footprints to new territory. The vendors are accelerating M&A strategies to expand their geographical reach, which is shaping the market toward new growth cycle. The list of players that are profiled in the study are WildApricot (Canada), Stripe, Inc, (Ireland), Apple (United States), Dwolla (United States), Due (United States), Square (United States), PayPal (United States), Authorize.net (United States). Additionally, other players that are part of this detailed analysis are Freshbooks (Canada), Moneris (Canada), Regpack (United States), Braintree (United States), GoCardless (United Kingdom), Adyen (Netherlands)..

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Digital Payment

Market Drivers
• Convenience and ease of use for consumers.

Market Trend
• Increased adoption of mobile payment apps like Apple Pay, Google Pay, and Samsung Pay.

Market Opportunities
• Untapped markets in developing countries.

Market Restraints
• Security and privacy concerns, including data breaches.

Market Challenges
• Competition among payment service providers.

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What key data is demonstrated in this Digital Payment market report?
• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Digital Payment market between 2023 and 2028
• Precise estimation of the size of the Digital Payment market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Value in dollar term and growth of the market industry across APAC, Europe, North America, South America, and Middle East and Africa; further broken down by major country within region.
• Thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Digital Payment market players

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FIVE FORCES & PESTLE ANALYSIS:
In order to better understand market conditions five forces analysis is conducted that includes the Bargaining power of buyers, Bargaining power of suppliers, Threat of new entrants, Threat of substitutes, and Threat of rivalry.
• Political (Political policy and stability as well as trade, fiscal, and taxation policies)
• Economical (Interest rates, employment or unemployment rates, raw material costs, and foreign exchange rates)
• Social (Changing family demographics, education levels, cultural trends, attitude changes, and changes in lifestyles)
• Technological (Changes in digital or mobile technology, automation, research, and development)
• Legal (Employment legislation, consumer law, health, and safety, international as well as trade regulation and restrictions)
• Environmental (Climate, recycling procedures, carbon footprint, waste disposal, and sustainability)

Nidhi Bhawsar (PR & Marketing Manager)
HTF Market Intelligence Consulting Private Limited
Phone: +15075562445
sales@htfmarketintelligence.com

About Author:
HTF Market Intelligence Consulting is uniquely positioned to empower and inspire with research and consulting services to empower businesses with growth strategies, by offering services with extraordinary depth and breadth of thought leadership, research, tools, events, and experience that assist in decision-making.

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