According to a new report Global Digital Payment Market, published by KBV research, The Global Digital Payment Market size is expected to reach $175.8 billion by 2026, rising at a market growth of 20% CAGR during the forecast period.
The Payment Processing market dominated the Global Digital Payment Market by Solutions Type 2019, growing at a CAGR of 17.3 % during the forecast period. The Payment Gateway market is experiencing a CAGR of 17.7% during (2020 - 2026). Additionally, The Application Program Interface market would exhibit a CAGR of 19.7% during (2020 - 2026).
The large enterprise segment acquired the highest revenue share in 2019. The large retail stores record high footfalls that push the demand for digital payment methods for hassle-free checkouts. Digital payment modes assure a convenient & easy checkout experience for the users by supporting a variety of digital payment methods like the point of sale, e-wallets, and smart cards. Along with that, retailers also aim to offer a wide range of innovative payment solutions for the users.
The On-premise market dominated the Global Digital Payment Market by Deployment Type 2019. The cloud segment would showcase prominent CAGR during the forecast period. The growing number of smart cities & the increasing number of unmanned retail stores are among the main factors that boost the segment growth. At the same time, the increasing uses of loT in payment are estimated to bring new opportunities for the segment during the forecast years.
The North America market dominated the Global Digital Payment Market by Region 2019. The Europe would appear as a major regional market during the forecast period. Banks in the European region are taking efforts to introduce a European payment initiative. This initiative will focus on making a centralized payment solution for the vendors and customers in the Europe region. These kinds of initiatives are anticipated to provide lucrative growth opportunities for the companies in the market during the forecast period. Additionally, The Asia Pacific market would showcase a CAGR of 21.8% during (2020 - 2026).
Full Report: https://www.kbvresearch.com/digital-payment-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Fidelity Information Services (FIS), Inc., Fiserv, Inc., PayPal Holdings, Inc. (eBay), Visa, Inc., Mastercard, Inc., Apple, Inc., Naspers Limited (PayU Group), Adyen N.V., Square, Inc., and Global Payments, Inc.
By Component
By Deployment Type
By Enterprise Size
By End-User
By Geography
Companies Profiled
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