Digital Payment Market Is Estimated To Reach USD 272.64 Billion by 2029 | Market Analysis by Upcoming Trends, Revenue, Size, Share, Growth and Prominent Players

·10 min read
Data Bridge Market Research
Data Bridge Market Research

Growing number of e-commerce channels, changing customers fashion tastes and preferences and rising westernization will positively influence the market growth rate. The increasing proliferation of major e-commerce channels, especially Amazon, is fueling the growth rate.

CHICAGO, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market Research in its report titled of Global Digital Payment Market offers comprehensive insights and detailed research on this market. The report covers the key factors that are propelling the growth of the Digital Payment Market, untapped lucrative opportunities for manufacturers, latest trends and latest developments that are shaping the growth of the market and other valuable insights across different market segments. The premium Digital Payment Market business report endows with a better understanding of the fine distinction related to complex information on competitors, consumers, trends, and investments, etc. at the short turnaround time. The market research report service provides beneficial solutions for both start-up businesses as well as established enterprises with equal care and commitment to quality. With a well-equipped global delivery center and highly-competent research team, new milestones are consistently created for business research services. With the widespread Digital Payment Market research report, it gets effortless to make informed decisions that eventually provide maximum ROI from the marketing expenditures.

Global digital payment market was valued at USD 81.07 billion in 2021 and is expected to reach USD 272.64 billion by 2029, registering a CAGR of 16.37% during the forecast period of 2022-2029.

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Digital Payment Overview:

In 2020, India registers more than 25.6 billion real time digital transactions. This was a 70% increase than 2019. Mobile wallets, digital wallets and e-wallets are all gaining popularity in the era of rapid digitization. Rapid integration and interconnection between the countries has resulted into the large scale attraction of digital payments.

In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

REPORT METRIC

Forecast Period - 2022 to 2029

Base Year – 2021

Historic Years - 2020 (Customizable to 2014 - 2019)

Key Players Operating in the Digital Payment Market Include:

  • ACI Worldwide (U.S.),

  • PayPal, Inc. (U.S.),

  • Novatti Group Ltd (Australia),

  • Global Payments Inc. (U.S.),

  • Visa (U.S.),

  • Stripe, Inc. (Ireland),

  • Google, LLC (U.S.),

  • Finastra. (U.K.),

  • SAMSUNG (South Korea),

  • Amazon Web Services, Inc. (U.S.),

  • Financial Software & Systems Pvt. Ltd. (U.S.),

  • Aurus Inc. (U.S.),

  • Adyen (Netherlands),

  • Apple Inc. (U.S.),

  • Fiserv, Inc. (U.S.),

  • WEX Inc. (U.S.),

  • wirecard (U.S.),

  • Mastercard. (U.S.) among many others.

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Recent Developments

  • Fiserv will introduce EnteractSM, a brand-new cloud-based customer relationship management (CRM) platform for financial institutions, in November 2021. A Microsoft Azure-based integration framework offered by Enteract allows for real-time process integration across core banking, enterprise content management, and digital channels. It also synchronises consumer data with back-end systems.

  • Virgin Money and Global Payments Inc. signed a contract in September 2021 to use Global Payments' distinctive two-sided network to give Virgin Money consumers access to industry-leading digital payment experiences worldwide.

  • RealNet is a new cloud-based software as a service (SaaS) platform that will enable account-to-account (A2A) transactions for companies, individuals, and governments across real-time payment networks. RealNet was introduced by FIS in April 2021.

Opportunities

  • Rising trend of e-commerce shopping

Growing number of e-commerce channels, changing customers fashion tastes and preferences and rising westernization will positively influence the market growth rate. The increasing proliferation of major e-commerce channels, especially Amazon, is fueling the growth rate.

  • Increasing internet adoption

Growing access to high speed internet and improving internet infrastructure in the developing economies will yet again propel the market growth rate. Penetration of 4G and 5G internet services will widen the scope of growth and expansion globally.

Key Highlights of the Industry Report:

  • Conclusive study about the growth of the market for forthcoming years

  • In-depth understanding of market-particular drivers, constraints

  • A complete picture of the competitive scenario of the Digital Payment Market is depicted by this report.

  • It provides historical and forecasts revenue of the market segments and sub-segments with respect to main geographies and their countries

  • It also provides a complete assessment of the future market and the changing market scenario.

  • Current and predictable size of the Digital Payment Market from the perspective of both value and volume.

Digital Payment Market Dynamics:

Drivers:

  • Emerging initiatives to adopt digital payments interface globally

The global efforts to adopt unified payments interface in combination with escalating rate of digitization especially in Asia-Pacific region is bolstering the growth of the market.

  • Increased support by the government

Rising number of government initiatives and supportive policies by the central and state government in regards to promoting the growth of the market especially in APAC region will widen the scope of growth to a great extent.

Furthermore, the factors such as rising urbanization, industrialization and growing number of smartphone users globally have further contributed to the overall market expansion during the forecast period.

Browse Detailed Summary of Research Report @ https://www.databridgemarketresearch.com/reports/global-digital-payment-market?GNW/18Aug2022

Digital Payments market Country Level Analysis:

The countries covered in the Digital Payments market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), South Africa, Saudi Arabia, U.A.E, Israel, Egypt, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA).

North America dominates the digital payment market due to the presence of major players in this region such as Visa, PayPal Holdings, Inc. and MasterCard. Prevalence of advanced infrastructure in in the region is another important factor determining the dominance of this region.

Asia-Pacific region is showing a promising potential and therefore, is set to grow with the highest growth rate during the forecast period. This is because of the emerging UPI platforms and increased number of smartphone users.

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope of The Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers and Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

To check the complete Table of contents, clicks here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-digital-payment-market&GNW/18Aug2022

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