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Payment Gateway Market Report 2022, Share, Size, Trends and Forecast to 2027

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Payment Gateway Market Report 2022, Share, Size, Trends and Forecast to 2027

October 31
21:35 2022
Payment Gateway Market Report 2022, Share, Size, Trends and Forecast to 2027
Payment Gateways Market Report 2022, Share, Size, Trends and Forecast to 2027
The global payment gateway market size reached US$ 21.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2027, exhibiting a CAGR of 7% during 2022-2027.

According to IMARC Group latest published report, The global payment gateway market size reached US$ 21.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2027, exhibiting a CAGR of 7% during 2022-2027.

Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2021

Historical Period: 2016-2021

Forecast Period: 2022-2027

Payment gateways refer to web-based applications that serve as intermediaries between banks and e-commerce websites to authenticate and authorize online transactions. They can be segmented into numerous types, based on the mode of interaction, such as hosted payment gateways, application programming interface (API) or non-hosted payment gateways, local bank integrates, direct payment gateways, etc. These payment gateways encrypt sensitive information, which includes credit or debit card numbers and bank account details, thereby aiding in preventing fraud. They even offer the facility of making purchases online at any hour of the day. As a result, payment gateways find extensive utilization across various sectors, including travel, retail, media and entertainment, banking, financial services and insurance (BFSI), etc.

Download a free sample report to get a detailed overview of the report: https://www.imarcgroup.com/payment-gateways-market/requestsample

Covid-19 Scenario:

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Competitive Scenario with Key Players:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Payment Gateways Market Trends:

The escalating digital transformation of small and medium-scale businesses across the globe is primarily driving the payment gateways market. In addition to this, the growing technological advancements that have enabled financial service providers to facilitate novel digital services to customers are acting as significant growth-inducing factors. Besides this, the shifting preferences toward online modes of payment using credit or debit cards, net banking, mobile wallets, etc., for quick, efficient, and instant money transfers are also positively influencing the market growth. Moreover, the expanding tourism industry across countries and the rising reliance on online travel agencies (OTAs) for booking flights, cars, cruises, and hotel accommodations are further stimulating the market growth. Apart from this, the increasing collaborations between banks and retail vendors to provide cashback offers and attract new customers are expected to fuel the payment gateways market over the forecasted period.

Ask Analyst for 10% free customized report: https://www.imarcgroup.com/payment-gateways-market

The report cover the below key market segments:

Payment Gateways Market By Application:

Large Enterprises

Micro and Small Enterprises

Mid-Size Enterprises

Payment Gateways Market By Region:

North America (United States, Canada)

Europe (Germany, France, United Kingdom, Italy, Spain, Others)

Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

Latin America (Brazil, Mexico, Others)

Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

Key highlights of the report:

Market Performance (2016-2021)

Market Outlook (2022-2027)

Market Trends

Market Drivers and Success Factors

Impact of COVID-19Value Chain Analysis

Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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Country: United States
Website: https://www.imarcgroup.com