Global Buy Now Pay Later Business Databook Report 2023: 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics 2019-2028 - ResearchAndMarkets.com
The "Global Buy Now Pay Later Business and Investment Opportunities Databook - 75+ KPIs on BNPL Market Size, End-Use Sectors, Market Share, Product Analysis, Business Model, Demographics - Q1 2023 Update" report has been added to ResearchAndMarkets.com's offering.
Global BNPL payments are expected to grow by 21.7% on an annual basis to reach US$527,942.3 million in 2023.
Global BNPL Payment industry has recorded strong growth over the last four quarters, supported by increased ecommerce penetration.
Medium to long term growth story of Global BNPL industry remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 12.7% during 2023-2028. Global BNPL Gross Merchandise Value will increase from US$433,777.6 million in 2022 to reach US$960,667.1 million by 2028.
The buy now pay later payment method garnered mainstream adoption during the Covid-19 pandemic outbreak, along with the surging trend of online shopping globally. This has resulted in high transaction volume and value for BNPL providers.
The number of global BNPL users is also projected to increase significantly over the next five years, as major retailers such as Walmart are also planning to use introduce their own BNPL payment solutions. This along with the rising market for B2B BNPL is expected to assist the industry growth from the short to medium-term perspective.
The macroeconomic environment, while impacting the profit margins for BNPL firms, have again driven the demand for flexible payment solution among consumers. As the trend continues in 2023, the publisher expects robust growth for the global BNPL industry over the next three to four years.
Firms are forging strategic alliances to offer BNPL services to travelers in the Asia Pacific region
After two years of pandemic-induced restrictions, travel and tourism have recorded a strong rebound in 2022 and the trend is expected to further continue in 2023. Amid this pent-up travel demand, BNPL providers and travel-focused platforms are entering into strategic partnerships.
In November 2022, Atome, one of the leading BNPL providers in the Asia Pacific region, announced that the firm had entered into a strategic collaboration with Trip.com. Under the partnership, Trip.com will allow travelers to book flights and accommodations using the BNPL payment service offered by Atome. Initially, the service will be launched in Singapore, before rolling out across the Asia Pacific region in 2023.
These trends are visible across the world. In November 2022, Afterpay also forged a similar collaboration with Expedia, allowing travelers to fund their travel activities through the BNPL payment method. In 2023, more such strategic collaborations are expected to take place globally.
BNPL providers are targeting in-store transactions to drive the next growth phase in the segment
The online BNPL space has saturated with several providers fighting for the same consumer. With the competition in the space increasing, firms are now targeting in-store BNPL transactions globally.
In December 2022, Tabby, one of the leading BNPL providers in the Middle East region, announced that the firm had entered into a strategic collaboration with Al-Futtaim Malls. Under the partnership, Tabby will offer flexible payment methods to in-store shoppers at Dubai Festival City Mall and Festival Plaza.
In October 2022, Zip, an Australia-based BNPL provider, forged a strategic partnership with WebBank to launch a physical BNPL card as it seeks to make inroads into the growing in-store shopping trends. The physical payment card allows consumers to make BNPL payments wherever Visa is accepted.
The move to drive market share through capturing in-store transactions comes at a time when online BNPL space is saturating. With little to no-differentiating factor, more BNPL players are projected to refocus their efforts on driving growth through in-store transactions from the short to medium-term perspective.
This global report provides a detailed analysis of Buy Now Pay Later (BNPL) industry at global and country level, covering market opportunities and risks across a range of retail categories. With over 75 KPIs at country level, this report provides a comprehensive understanding of BNPL market dynamics, marketsize and forecast, and market share statistics.
It breaks down market opportunity by type of business model, sales channels (offline and online), and distribution models. In addition, it provides a snapshot of consumer behaviour and retail spend dynamics. KPIs in both value and volume term help in getting in-depth understanding of end market dynamics.
The research methodology is based on industry best practices. Its unbiased analysis leverages a proprietary analytics platform to offer a detailed view on emerging business and investment market opportunities.
This title from the publisher is a bundled offering, combining the following 22 reports (1210 tables and 1540 charts)
Global BNPL Market Size and Spending Pattern, 2019-2028
Global Buy Now Pay Later Revenue Analysis, 2019-2028
Global Buy Now Pay Later Operational KPIs & Statistics, 2019-2028
Global BNPL by Purpose, 2019-2028
Global BNPL by Business Model, 2019-2028
Global BNPL by Merchant Ecosystem, 2019-2028
Global BNPL by Distribution Model Analysis, 2019-2028
Global BNPL Analysis by Channel, 2019-2028
Global Buy Now Pay Later in Retail Shopping: Market Size and Forecast, 2019-2028
Global Buy Now Pay Later in Home Improvement: Market Size and Forecast, 2019-2028
Global Buy Now Pay Later in Travel/Entertainment: Market Size and Forecast, 2019-2028
Global Buy Now Pay Later in Services: Market Size and Forecast, 2019-2028
Global Buy Now Pay Later in Automotive: Market Size and Forecast, 2019-2028
Global Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast, 2019-2028
Global Buy Now Pay Later in Groceries: Market Size and Forecast
Global Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
Global Buy Now Pay Later Market Share Analysis by Key Players
For more information about this report visit https://www.researchandmarkets.com/r/mh8ihq
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