Payment Gateways Market is expected to grow by USD 8,551.26 mn from 2022 to 2027; Focus on high customer satisfaction is notably driving the market growth - Technavio
NEW YORK, May 29, 2023 /PRNewswire/ -- The payment gateways market size is set to grow by USD 8,551.26 mn between 2023 and 2027 and register a CAGR of almost 11.72%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
Payment Gateways Market 2023-2027: Vendor Analysis and Scope
Some of the major vendors of the payment gateways market in l4 industry include Adyen NV, Amazon.com Inc., B2Broker Ltd., BitPay Inc., Block Inc., CCBill LLC, Fidelity National Information Services Inc., Global Payments Inc., Infibeam Avenues Ltd., Ingenico Group SA, JPMorgan Chase and Co., Mastercard Inc., MIH PayU BV, Payoneer Global Inc., Razorpay Software Pvt Ltd., Visa Inc., One97 Communications Ltd., PayPal Holdings Inc., Stripe Inc., and VeriFone Inc.. To help businesses improve their market position, Technavio's report provides a detailed analysis of around 15+ vendors operating in the market. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments. Backed with competitive intelligence and benchmarking, our research reports on the payment gateways market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Although the high adoption of contactless payment solutions, growth in demand for PoS terminals from end-users, and focus on high customer satisfaction will offer immense growth opportunities, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Payment Gateways Market 2023-2027: Segmentation
The large enterprise segment will have significant market share growth during the forecast period. Large companies focus more on technologically advanced services such as payment gateways and mobile wallet and generate most of the market revenue. Hence, growth in demand and acceptance of payment gateways is expected to drive the growth of the target market over the forecast period.
The report also covers the following areas:
Market trends such as the emergence of NFC-based payment technology is likely to emerge as one of the primary drivers of the market. However, factors such as High operating and maintenance costs of PoS terminals is may threaten the growth of the market.
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Payment Gateways Market 2023-2027: Key Highlights
The secure web gateway market is estimated to grow at a CAGR of 21.52% between 2022 and 2027. The size of the market is forecast to increase by USD 11,710.84. million. The growth of the market depends on several factors, including a rising number of cyber attacks, growing demand for integrated solutions, and growing digitalization. The report extensively covers market segmentation by end-user (BFSI, IT and telecom, government and defense, and others), deployment (cloud and on-premise), and geography (North America, Europe, APAC, Middle East and Africa, and South America).
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Table of Content
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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