Real-Time Payments Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth

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How Large Will the Real-Time Payments Market Size By 2025?
The scale of the real-time payments market has experienced a significant surge in recent years. The market, which is projected to expand from $37.22 billion in 2024 to approximately $48.61 billion in 2025, will see a compound annual growth rate (CAGR) of 30.6%. Factors contributing to this historic growth period include an increased consumer thirst for immediate satisfaction, widespread uptake of mobile products and digital wallets, global and cross-border trade, legislative interventions, and the rise of e-commerce.

How Big Is the Real-Time Payments Market Size Expected to Grow by 2029?
The market for real-time payments is anticipated to experience a surge in the coming years, reaching a size of $166.18 billion by 2029, growing at a compound annual growth rate (CAGR) of 36.0%. Factors such as the growing need for business efficiency, evolving customer habits, improved security protocols, increased efforts towards financial inclusion, and the emergence of central bank digital currencies (CB*DCS) are likely to contribute to the growth seen in the forecast period. Key trends to look out for during this period include the integration of open banking and APIs, the rise of peer-to-peer (P2P) and social payments, the application of blockchain and distributed ledger technology, the increased use of real-time payroll and business payments, and enhancements in customer experience.

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Which Key Market Drivers Powering Real-Time Payments Market Expansion and Growth?
The surge in smartphone use is anticipated to spur on the growth of the real-time payment market. Smartphones are hand-held electrical devices that synergize computer capabilities with advanced features previously not seen in telephones, such as an operating system, internet access, and the ability to run software applications. The global popularity of smartphones has eased the process of real-time payment transactions, making smartphone payments a preferred option for many individuals. As an example, as per the GSMA, a non-profit organization based in the U.K., as of October 2023, 4.6 billion people are utilizing mobile internet, almost 4 billion of which use smartphones, thereby encompassing almost half, 49%, of the world's population. To add on, about 600 million people, equating to 8% of the world's population, are accessing the internet through feature phones. This underscores the crucial role of mobile devices in connecting the world. There is an apparent preference for smartphones over feature phones for accessing the internet. Consequently, the escalating proliferation of smartphones is fueling the growth of the real-time payment market.

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Which Fast-Growing Trends Are Poised to Disrupt the Real-Time Payments Market?
The rise of technological innovations has become a notable trend in the real-time payments market. Numerous dominant corporations in this sector are prioritizing the advancement of new technologies to maintain their market foothold. For instance, in April 2022, IBM, a prominent US tech company involved in the real-time payments industry, introduced a next-gen mainframe equipped with artificial intelligence. This latest IBM z16 processor is able to facilitate deep learning-based fraud detection for all transactions.

What Are the Emerging Segments in the Real-Time Payments Market?
The real-time paymentsmarket 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

Subsegments:
1) By Solutions: Payment Processing Solutions, Payment Gateway Solutions, Fraud Detection And Prevention Solutions, Real-Time Payment Systems
2) By Services: Consulting Services, Integration Services, Maintenance And Support Services, Managed Services

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Who Are the Global Leaders in the Real-Time Payments Market?
Major companies operating in the real-time payments market include 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.

Which are the Top Profitable Regional Markets for the Real-Time Payments Industry?
Asia-Pacific was the largest region in the real-time payments market in 2024.North America is expected to be the fastest-growing region in the forecast period. The regions covered in the real-time payments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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