0

Payment Gateway Market Expected to Reach $98.2 Billion by 2030—Allied Market Research

 
2022
Payment Gateway Market

Report Code : A08244

quote Growing demand and preference for easy & quick digital payment transaction among people, is one of the major factors expected to contribute to the payment gateway market growth in the upcoming years. quote

Vitika Verma - Manager
ICT and Media at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research, titled, “Payment Gateway Market," The payment gateway market was valued at $22.4 billion in 2021, and is estimated to reach $98.2 billion by 2030, growing at a CAGR of 17.7% from 2022 to 2030.

A payment gateway is a digital money operating gateway widely used to connect the customers and the merchant together for any payment transaction. A payment gateway is essentially an online interface that facilitates money transfers between a client and a business. Any firm that accepts payments online has an advantage because doing so guarantees safe and easy transactions and reduces financial losses brought on by late payments.  

The industry is anticipated to grow as a result of increased demand for quick mobile payments and usage of mobile banking channels. As consumers' preferences migrate to digital payment technology, they expect a perfect user experience from mobile wallets. Due to the increased amounts of digital payments, there is a growing need for safe and dependable payment gateways. As the number of online shoppers increases year after year, the volume of digital payments has skyrocketed, giving payment gateway suppliers a sizable market to thrive in.

The main challenge currently being faced by payment gateway market is the rise in customer risk of online fraud. The likelihood of some socially irresponsible individual misusing the account information required to use the online payment gateway to make an online payment is high.

Globally, the payment gateway industry is expanding quickly owing to tremendous growth in online transactions and e-commerce transactions. The market is also extremely competitive, therefore major players are using a variety of techniques to grow their customer base with the launch of new payment gateway services such as the introduction of new products, collaborations, partnerships, and mergers.

The global payment gateway market share is segmented on the basis of type, enterprise size, end-use, and region. By type, the market is sub-segmented into hosted and non hosted. By enterprise type, the market is segmented into small & medium enterprise (SME) and large enterprise. By end-use, the market is classified into travel & hospitality, BFSI, retail & ecommerce, media & entertainment, and others. By region, the payment gateway market analysis is conducted across North America, Europe, Asia-Pacific, and LAMEA.

Some of the leading payment gateway market players are PayPal Holdings, Inc., STRIPE, Visa Inc., Amazon.com Inc., FIS(Worldpay), Mastercard, PayU, BitPay, Inc., FISERV, INC.(BluePay), and JPMorgan Chase & Co.

The report offers a comprehensive analysis of the global payment gateway market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, payment gateway market forecast, investment opportunities, and top players working towards the growth of the market. The report also sheds light on the present scenario and upcoming trends & developments that are contributing to the growth of the market. Moreover, restraints and challenges that hold power to obstruct the global payment market size are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the payment gateway market.

Impact of Covid-19 on the Global Payment Gateway Industry

  • Since, the emergence of COVID-19 pandemic, the demand for cashless transaction has increased among people, considerably. This is majorly to avoid any further viral transmission of virus. Owing to this, the payment gateway market share has experienced a major growth in the pandemic time frame.
  • Almost all types of businesses opted for online transaction in pandemic time period as online money transfer is a fast and a safe mode for money transaction.

Key Findings of the Study

  • Based on type, the hosted sub-segment emerged as the global leader in 2021 and non hosted sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
  • Based on enterprise size, the large enterprise sub-segment emerged as the global leader in 2021 and small & medium enterprise sub-segment is anticipated to be the fastest growing sub-segment during the forecast period.
  • Based on end-use, the BFSI sub-segment emerged as the global leader in 2021 and travel & hospitality sub-segment is predicted to show the fastest growth in the upcoming years.
  • Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Payment Gateway Market by Type (Hosted, Non Hosted), by Enterprise Size (Large Enterprise, Small and Medium Enterprise), by End-use (Travel and Hospitality, BFSI, Retail and Ecommerce, Media and Entertainment, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Dec 2024

Dump Truck Market

Download Sample
rep-img

Published Date Nov 2024

Alloys Market

Download Sample

Buy Full Version
"Payment Gateway Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers