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Global Buy Now Pay Later Market Size, Share & Trends Report 2023: Market to Reach $38.57 Billion by 2030 - Surge in High-Cost Spending to Offer Lucrative Opportunities
[February 07, 2024]

Global Buy Now Pay Later Market Size, Share & Trends Report 2023: Market to Reach $38.57 Billion by 2030 - Surge in High-Cost Spending to Offer Lucrative Opportunities


DUBLIN, Feb. 7, 2024 /PRNewswire/ -- The "Buy Now Pay Later Market Size, Share & Trends Analysis Report By Channel (Online, POS), By End-use (Retail, Automotive), By Enterprise Size, By Region, And Segment Forecasts, 2023 - 2030" report has been added to  ResearchAndMarkets.com's offering.

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The global buy now pay later market size is projected to reach USD 38.57 billion by 2030, registering a CAGR of 26.1% from 2023 to 2030

The market growth can be attributed to the high purchasing power offered by the Buy Now Pay Later (BNPL) platforms, coupled with benefits such as interest-free and convenient payments. On the other hand, an increase in the demand for delayed payments for online shopping and a surge in spending on high-cost products are expected to offer lucrative opportunities for the market over the forecast period.

Several BNPL solution providers are striking partnerships with other fintech companies to offer BNPL services efficiently. For instance, in July 2023, At Home, a prominent home furnishing store chain in the U. S., introduced a new financing option, Synchrony Pay Later, to offer customers a BNPL solution.

Through this program, consumers can apply for interest-free loans to make convenient equal payments over three months for single purchases ranging from USD 75 to USD 400 without negatively impacting their credit scores. This initiative complements At Home's existing At Home Insider Perks credit card, which provides six-month special financing options for qualifying purchases at the store. By integrating Synchrony Pay Later, At Home aims to provide customers with flexible and accessible payment alternatives for a seamless shopping experience.

Moreover, several fintech companies are focusing on developing innovative BNPL features for local shoppers worldwide. For instance, in March 2021, Payflex announced the launch of the BNPL feature for local shoppers in South Africa. Through this launch, local consumers would be able to purchase items from 500 well-known stores such as Superbalist, Cotton-on, and many more.

The COVID-19 pandemic had a positive impact on the BNPL market. A myriad of unexpected issues stemming from lockdowns, restrictions on people and goods movement, social distancing measures, and the growing awareness of BNPL solutions prompted various companies to adopt BNPL solutions to provide a better customer experience. As a result, BNPL solution providers witnessed exponential growth in their customer base and transaction volumes. For instance, overall BNPL transactions on ZestMoney jumped 300% in 2021 compared to 2020.

Buy Now Pay Later Market Report Highlights

  • In terms of channel, the POS segment is anticipated to register a significant CAGR over the forecast period. The availability of BNPL services at the POS provides a competitive advantage for retailers, as it can boost sales and increase customer loyalty. By offering BNPL as a payment option, retailers can attract more customers, particularly those who may have hesitated to prchase due to budget constraints or upfront payment requirements
  • Based on enterprise size, the small & medium enterprises (SMEs) segment is anticipated to register the fastest CAGR of 27.4% over the forecast period. SMEs are widely adopting the BNPL services to maximize their tax deductions. These services help enterprises manage their expenses with flexible repayment options and transparent fees
  • In terms of end-use, the retail segment dominated the market in 2022 with a revenue share of more than 73% as a result of rising awareness among millennials who are rapidly adopting BNPL services for paying for clothing, electronics, and others
  • In terms of region, with the presence of a large number of BNPL service providers, the North America region dominated the market in 2022 with a revenue share of more than 29%, and is expected to create growth opportunities for the regional market growth over the forecast period



Company Profiles

  • Affirm, Inc.
  • Klarna Inc.
  • Splitit Payments Ltd.
  • Sezzle
  • Perpay Inc.
  • Zip Co Ltd.
  • PayPal Holdings, Inc.
  • Afterpay Limited
  • Openpay
  • Latitude Financial Services
  • HSBC Group

Key Topics Covered:


Chapter 1 Methodology and Scope

Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot

Chapter 3 Buy Now Pay Later Industry Outlook
3.1 Market Segmentation and Scope
3.2 Buy Now Pay Later Market - Value Chain Analysis
3.3 Buy Now Pay Later Market - Market Dynamics
3.3.1 Market driver analysis
3.3.1.1 Increasing number of internet users
3.3.1.2 Benefits offered by BNPL platforms to both consumers and merchants
3.3.2 Market challenge analysis
3.3.2.1 Growing concerns over defaults and subsequent late fees
3.3.3 Market opportunity analysis
3.3.3.1 Growing retail point of sales worldwide
3.4 Buy Now Pay Later Market - Porter's Five Forces Analysis
3.5 Buy Now Pay Later Market - PESTEL Analysis
3.6 Comparative Analysis Of Buy Now Pay Later With Other Payment Methods
3.6.1 Comparison analysis for the use of BNPL against other payment methods for e-commerce in Europe in 2022 and 2024
3.6.1.1 France
3.6.1.2 Germany
3.6.1.3 Italy
3.6.1.4 Netherlands
3.6.1.5 Poland
3.6.1.6 Spain
3.6.1.7 UK
3.6.1.8 Sweden
3.7 Buy Now Pay Later (BNPL) Market - Survey Statistics for 2022
3.7.1 Types of purchases made using BNPL services, 2022
3.7.2 Most adopted BNPL services, 2022
3.7.3 Monthly amount paid by BNPL users, 2022
3.7.4 BNPL adoption trends by demography, 2022
3.8 Global BNPL Lending Value, 2020 - 2022
3.9 Comparative Analysis of BNPL Providers

Chapter 4 Buy Now Pay Later Market Analysis
4.1 Impact of Inflation on E-commerce and Adoption of BNPL Services
4.1.1 Causes of e-commerce inflation
4.1.2 Change in prices of online commodities in the U.S. from January 2018 to January 2022
4.1.3 Impact of inflation on online prices
4.2 Average BNPL Interest Rate Trends
4.3 Analysis of Consumer Purchasing Behavior and Forecast Trends
4.4 Analysis of Rising BNPL Default Rates
4.4.1 Share of BNPL users in the U.S. who missed payments, 2021 to 2022
4.5 Efforts Taken by Banks in Europe to Offer BNPL Services
4.6 Buy Now Pay Later Market - Statistical Survey Analysis
4.6.1 BNPL users by generation from 2021 to 2025 (in Percentage)
4.6.2 BNPL's e-commerce market share by country (2022)
4.6.3 Top BNPL purchase categories, 2022
4.6.4 BNPL use for e-commerce payment by country, 2022

Chapter 5 Buy Now Pay Later Channel Outlook
5.1 Buy Now Pay Later Market Share By Channel, 2022
5.1.1 Global buy now pay later market, by channel, 2017 - 2030
5.2 Online
5.3 POS

Chapter 6 Buy Now Pay Later Enterprise Size Outlook
6.1 Buy Now Pay Later Market Share By Enterprise Size, 2022
6.1.1 Global buy now pay later market, by enterprise size, 2017 - 2030
6.2 Large Enterprises
6.3 Small & Medium Enterprises

Chapter 7 Buy Now Pay Later End-use Outlook
7.1 Buy Now Pay Later Market Share By End-use, 2022
7.1.1 Global buy now pay later market, by end-use, 2017 - 2030
7.1.1.1 Global buy now pay later market, by retail, 2017 - 2030
7.2 Retail (E-commerce)
7.2.1 Buy now pay later market in retail, 2017 - 2030
7.2.2 Consumer Electronics
7.2.3 Fashion & Garment
7.3 Healthcare
7.4 Leisure & Entertainment
7.5 Automotive

Chapter 8 Buy Now Pay Later Regional Outlook
8.1 Buy Now Pay Later Market Share By Region, 2022
8.2 Global Buy Now Pay Later Market, 2017 - 2030
8.2.1 Global buy now pay later market, by region, 2017 - 2030

Chapter 9 Competitive Analysis
9.1 Recent Developments & Impact Analysis, By Key Market Participants
9.2 Company Categorization
9.3 Vendor Landscape
9.3.1 Key company market share analysis, 2022
9.3.2 Vendor landscape
9.4 Company Analysis Tools
9.4.1 Company market position analysis
9.4.2 Competitive dashboard analysis

Chapter 10 Competitive Landscape
10.1 Company overview
10.2 Financial performance
10.3 Product benchmarking
10.4 Strategic initiatives

For more information about this report visit https://www.researchandmarkets.com/r/o9ezds

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