| July 23rd, 2020 |
Payment Processing Market 2020 – A Detailed Analysis!
The payment processing industry is now a major league as far as business is concerned. This has happened as a result of massive digitalization and penetration of supporting disruptive technologies and internet infrastructure. A good number of businesses have now moved online and are conducting their business affairs there, necessitating a need for efficient and modern payment processing systems.
Research Dive released a report estimating that the global payment processing solutions market was valued at $65.71 billion in 2019 and is projected to reach $176.75 billion by 2027, growing at a CAGR of 12.6% during the forecast period. Similarly, Markets and Markets published a report indicating that the market size is expected to grow from $90.9 billion in 2022 to $147.4 billion by 2027, at a CAGR of 10.1%. These reports provide in-depth analyses of various aspects of the payment processing industry, including market forecasts, emerging trends, key growth drivers, revenue insights, potential threats, restraints, and a comprehensive overview of major players shaping the industry landscape.
The global payment processing industry was valued at $65.71 billion in 2019, and it is projected to reach $176.75 billion by 2027, growing at a compound annual growth rate (CAGR) of 12.6%, according to a report by Research Dive. The report also provides insights into how the COVID-19 pandemic impacted the payment processing market, accelerating the adoption of digital payments and contactless transactions worldwide.
| Report Parameters | Details of Parameter |
|---|---|
| Market Size | 2020–2027 |
| Based Year | 2019 |
| Forecast Period Covered | 2020–2027 |
| Units for Value | Value (USD) |
| Covered Segments | Payment Method (credit card, debit card, and eWallet), Vertical (Retail, Hospitality, Utilities and Telecommunication, and Others – Leisure and Entertainment, Healthcare and Fitness, and Insurance), and Region |
| Region Covered | – North America (United States, Canada, Mexico) – Europe (Germany, UK, France, Italy, Russia, etc.) – Asia-Pacific (China, Japan, ASEAN, India, Korea) – Middle East and Africa (UAE, Egypt, South Africa, Saudi Arabia) – South America (Brazil, Chile, Peru, Argentina) |
This global payment processing solutions market report covers 15 major market players, their competitive scenario, and their wide product portfolio. These key players include:
- PayPal Holdings Inc. (USA)
- Adyen (Netherlands)
- Stripe (USA)
- Square Inc. (USA)
- Wirecard AG (Germany)
- Global Payments Inc. (USA)
- Other key players
Criteria For Analysis:
The report sheds light on a range of variables related to the payment processing market. Important parameters like market share, creative impressions, development rates, latest R&D undertakings, and business strategy of the key players have been included for a deeper understanding of the dynamics of this industry. Critical analysis methods like SWOT (strengths, weaknesses, opportunities, threats) analysis and Porter’s 5 forces examinations have been used for a better understanding and to gain better insights. The report dwells on historical data as well as the forecasts set in the period 2020-2027. Crucial market data on the regional, country, and global levels are analyzed and projected in the form of graphics, charts, tables, and images.
Salient Features Of The Report:
As mentioned, the report goes into detail regarding the key players, market situation, and the expected future. Here are some salient features of the report:
1. Region-wise segmentation of the market.
2. Value and volume of the past, present, and future market.
3. Business strategies and market shares of the main players.
4. Emerging segments and regional markets.
5. Analysis and scope of payment processing solutions market.
6. Recommendations, current opportunities, and future challenges.
7. Info on advanced development and technical innovation for this market.
8. Sales and revenue details of past and future predictions.
Payment Processing Market Segmentation:
The report looks deeper into this industry by segregating the payment processing solutions market based on different parameters. These make the analysis simpler to represent and comprehend.
- By payment method:
- Credit Card
- Debit Card
- eWallets
- By vertical/ industry type:
- Retail
- Hospitality
- Telecommunication & Utilities
- Others (entertainment, leisure, healthcare, fitness, insurance)
- By region:
- Asia (China, India, Russia & other Asian countries)
- Europe (Germany, U.K., France, Italy, Spain, etc.)
- Middle East & Africa (Saudi Arabia, South Africa, others)
- North America (U.S.A., Canada, Mexico)
- Pacific region (Indonesia, Japan & other Pacific nations)
- South America (Cuba, Brazil, Argentina & several others)
Explicitly, this report has a lot to offer to the payment processing businesses in terms of understanding the mechanics of the payments processing industry. Further, it explains the challenges and threats that could warn new players and keep them protected. The report covers a timespan of over 8 years from 2019-2027 which is unmistakably a crucial period for the payments processing industry and its stakeholders.
For players entering this industry, this report can provide a roadmap and a blueprint since it covers the past trends and the future forecast in an equally detailed manner. Considering the changes introduced by disruptive financial technology, this report comes at a crucial time, bringing significant information and insights.
