Global Payment Security Industry Outlook 2025-2029: Market Set to Cross $66.03 Billion Milestone

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How Large Will the Payment Security Market Size By 2025?
In the past few years, the size of the payment security market has seen significant expansion. Its growth is projected to rise from $30.87 billion in 2024 to reach $34.75 billion in 2025, showcasing a compound annual growth rate (CAGR) of 12.6%. This rapid growth observed in the historic timeline is primarily fueled by the surge in e-commerce, an uptick in digital transactions, the globalization of financial transactions, incidents of data breaches, along with enhanced consumer awareness and expectations.

How Big Is the Payment Security Market Size Expected to Grow by 2029?
The market size for payment security is anticipated to witness a swift expansion in the coming years. It is projected to reach $66.03 billion by 2029, growing at a compound annual growth rate (CAGR) of 17.4%. Factors such as the rise in contactless payments, blockchain and cryptocurrency security, biometric authentication integration, regulatory advancements, and the endless progression of cyber threats contribute to this growth during the forecast period. Notable trends during this timeframe comprise escalating cyber threats, globalization, and international transactions, along with mobile and contactless payments, consumer awareness, and fraud prevention.

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Which Key Market Drivers Powering Payment Security Market Expansion and Growth?
The growth of the payment security market is likely to be fuelled by the rising use of digital payment modes. These digital payments provide a fast, secure, and easy means of purchasing goods and services. The future usage of digital payment cards greatly relies on customer trust and worries about digital payment fraud and security. Such security measures regarding payments promise to alleviate any fears and potential fraud. The escalating use of digital payment modes will significantly boost the demand for payment security solutions, which are imperative for secure payment transactions. For example, the European Central Bank, a central bank for the European Union countries based in Germany, reported in January 2024 that the number of contactless card payments rose by 24.3% from 20.9 billion in the first half of 2022 to the first half of 2023, with the respective total value surging by 25.9% to €0.5 trillion (545.27 billion). Hence, the surging adoption of digital payment modes is set to propel the growth of the payment security market.

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Which Fast-Growing Trends Are Poised to Disrupt the Payment Security Market?
The progression of technology is a notable trend that is witnessing a surge in the payment security market. An updated version of digital transaction security technology, the Three-Domain Secure 2.0 (also referred to as 3-D Secure 2.0 or 3DS 2.0) is gaining traction. With the increasing acceptance of digital payments, technological innovation is simultaneously expanding to ensure the security of transactions on digital payment platforms. The 3-D Secure 2.0 is a security feature that incorporates additional fraud protection for online credit or debit card transactions. It uses an unprecedented volume of contextual data to detect and combat fraud. By forming an authentication pathway among online sellers, payment networks and financial institutions, this technology allows for easier sharing and analysis of information related to the authenticity of a transaction. Market leaders are making efforts to offer 3-D Secure 2.0 payment security to consumers as a means to enhance transaction security, boosting their market position and service quality. For example, in February 2023, PayU, a prominent online payment solution provider from India, unveiled its 3D Secure 2.0 SDK authentication service. By enhancing PayU's tokenization capabilities, this service elevates online payment security for both businesses and customers. The 3DS 2.0 SDK authentication service generates a unique identifier for each card, providing more security than retaining the actual card number. In addition, this service allows businesses to safeguard card numbers with minimal developmental work while enhancing the payment experience for their customers.

What Are the Emerging Segments in the Payment Security Market?
The payment securitymarket covered in this report is segmented -

1) By Solution: Encryption, Tokenization, Fraud Detection And Prevention
2) By Services: Integration Services, Support Services, Consulting Services
3) By Organization Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
4) By Vertical: Retail, Travel And Hospitality, Healthcare, IT And Telecom, Education, Media And Entertainment, Others (Automotive, Financial Services, And Manufacturing)

Subsegments:
1) By Encryption: Data Encryption, End-To-End Encryption (E2EE), Point-To-Point Encryption, Secure Socket Layer (SSL) Encryption
2) By Tokenization: Payment Tokenization, Mobile Tokenization, Cloud-Based Tokenization, Tokenization Of Sensitive Data
3) By Fraud Detection And Prevention: Transaction Monitoring Solutions, Machine Learning-Based Fraud Detection, Multi-Factor Authentication (MFA), Risk Scoring Systems

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Who Are the Global Leaders in the Payment Security Market?
Major companies operating in the payment security market include CyberSource Corporation, Elavon Inc., Bluefin Payment Systems LLC., Ingenico Group., SISA Information Security Pvt Ltd., Mastercard Inc., Experian plc., Eastnets, Interkassa, Adyen N. V., Stripe India Private Ltd., PayPal Holdings Inc., Square Inc., Worldpay Inc., Braintree, Authorize. Net LLC., BlueSnap Inc., Fiserv Inc., ACI Worldwide Inc., Verifone Systems Inc., First Data Corporation, Global Payments Inc., Total System Services Inc., PayU, Paysafe Group Limited, Thales Group, Entrust Datacard Corporation

Which are the Top Profitable Regional Markets for the Payment Security Industry?
North America was the largest region in the payment security market in 2024. The regions covered in the payment security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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