The Global Digital Payment Market Report, published by Emergen Research, offers an industry-wide assessment of the Digital Payment market, which is inclusive of the most crucial factors contributing to the growth of the industry. The most recent research study includes a thorough examination of the micro- and macroeconomic aspects that affect the growth of the global market from 2021 to 2028. The Digital Payment market report provides a vivid analysis of the market's current trends as well as a broad range of growth opportunities, important drivers, challenges, and other important factors. The study also considers various market dynamics, which in turn create a wide range of growth opportunities for the top players operating in the Digital Payment market.
The global digital payment market size is expected to reach USD 215.88 Billion at a steady CAGR of 13.3% in 2028, according to latest analysis by Emergen Research. Factors driving steady market revenue growth include rising Internet proliferation and growth of e-commerce sector. According to the International Telecommunication Union (ITU), in 2019, over 4 Billion individuals (51% of the global population) had access to the Internet, an increase of 8.1% from the previous years. Rising Internet proliferation has been pivotal in spurring growth of e-commerce sales, which in turn, is driving demand for digital payment methods such as digital wallets as a means to a secure, convenient, and fast payment method for e-commerce customers. Digital wallet enables a pleasant and improved online shopping experience by eliminating complications in checkout processes, which are the primary reasons behind shoppers abandoning their shopping carts. Additionally, digital wallets are also beneficial in enhancing customer loyalty, thereby encouraging e-commerce service providers to integrate digital wallets in their digital payments options.
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Nearly every part of the business sector has been impacted by the global health crisis, which has also severely disrupted the supply and demand chains for the global Digital Payment market. The study also evaluates the current market environment and predicts its future results while taking into account the pandemic's effects on the global economy. In addition to projecting the market valuations for the present and the future based on the demand-supply dynamics and price structures of the key regional segments, this portion of the study provides insightful information about the geographical segmentation of the Digital Payment market. Each segment's and sub-segment's growth potential have also been carefully detailed in the report.
The report classifies the global Digital Payment market into various regions, including:
- North America (U.S., Canada)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)
Because there are so many businesses in this sector, the global Digital Payment market is very consolidated. The research goes into great detail on these firms' present market positions, previous performances, demand and supply graphs, production and consumption patterns, sales networks, distribution methods, and market growth prospects. The strategic moves made by the major market competitors to diversify their product offerings and strengthen their position on the market are closely examined in the study.
The leading market contenders listed in the report are as follows:
Mastercard Inc., Fiserv Inc., Visa Inc., JPMorgan Chase & Co., PayPal Holdings Inc., Intuit Inc., Global Payments Inc., Stripe, PayU, and ACI Worldwide Inc
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The global Digital Payment market is extensively divided into segments based on several product categories, application domains, end-use industries, important geographic regions, and a fiercely competitive market environment. This section of the research is only for for users who want to strategically choose the most suitable and profitable Digital Payment sector segments. Additionally, the segmental analysis supports businesses interested in this industry in deciding on the best course of action and achieving their objectives.
Offering Outlook (Revenue, USD Billion; 2018–2028)
- Solutions
- Payment Gateway Solutions
- Payment Wallet Solutions
- Payment Processing Solutions
- Payment Security & Fraud Management Solutions
- Point of Sale Solutions
- Services
- Professional Services
- Managed Services
- Solutions
Organization Size Outlook (Revenue, USD Billion; 2018–2028)
- Large Enterprise
- Small & Medium-sized Enterprises
Mode of Deployment Outlook (Revenue, USD Billion; 2018–2028)
- On-Premises
- Cloud
Report Highlights:
- The report conducts a comparative assessment of the leading market players participating in the global Digital Payment market.
- The report marks the notable developments that have recently taken place in the Digital Payment industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Digital Payment market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
Key questions addressed in the report:
- Who are the leading players dominating the global Digital Payment Market?
- Which factors could potentially hamper the global market growth during the forecast period?
- Which regional market offers the most attractive growth opportunities to the companies operating in this market?
- How is the raw material availability affecting the demand for Digital Payment in this industry vertical?
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