Payment Gateway Market Analysis By Type (Non-hosted, Hosted), By Enterprise Size, By End-use and By Region - Global Forecast 2022 to 2032

ROCKVILLE, MARYLAND, UNITED STATES, March 21, 2022 /EINPresswire.com/ -- Payment Gateway Report Overview

The global payment gateway market was worth US$ 26 billion in 2022, and it is predicted to increase at a compound annual growth rate (CAGR) of 21% from 2022 to 2032. The increasing demand for mobile-based payments around the world can be attributed to the market's rise. Rising e-commerce sales and global internet penetration are two additional important aspects that are expected to contribute to the growth of the payment gateway industry. Furthermore, the shift in merchant and consumer preference to digital channels for enabling online money transfers is expected to drive market expansion in the future years.

Companies are increasingly looking for payment gateways that enable safe internet transactions and aid in the prevention of credit or debit card scams and other illicit activity. Reliable payment gateways encrypt sensitive information such as bank account numbers and debit or credit card numbers to guarantee that it is securely passed from the consumer to the issuing bank. Furthermore, they reduce the need for customers to cope with the inconveniences of buying in physical stores and waiting in long lines. Consumers may finish the full purchase online with ease, providing a seamless purchasing experience.

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The purpose of this study is to give an overview of the worldwide payment gateway industry, as well as extensive market segmentation. It also examines the current payment gateway market situation and forecasts the market till 2032. The study discusses various dynamics that would impact the industry during the forecast period. Furthermore, the research examines the competitive landscape, geographic trends, and market prospects in all geographic regions. The study also provides thorough company profiles of the industry's leading players, as well as their market strategies. The research also includes a PEST analysis for each of the five regions, as well as a SWOT analysis for each organisation highlighted in the report.

North America is a key region in the payment gateway market, contributing the most revenue globally due to technical advancements and widespread implementation of payment gateways in various end-user segments. Rapidly rising economies in Asia-Pacific (APAC) with considerable expansion in the construction sector will pave the way for further adoption and boost the payment gateway market.

Competitive Landscape

The players of the market adopt various strategies to enhance their market reach. Acquisitions, partnerships, and collaborations are some of the methods used by the vendors to strengthen their positions in the industry.

Some of the recent developments among the key players are:

• In February 2022, Adyen, the renowned entity, disclosed a partnership with Ding to optimize its payment systems and strengthen its international growth.
• In February 2022, Network International announced its partnership with Amazon Payment Services to offer online payment solutions to merchants in the UAE. Network International is a recognized name in the Middle East and Africa region that provides digital commerce services.

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Scope of the Report

A recent Fact.MR report on the worldwide payment gateway industry provides a 10-year prediction from 2022 to 2032. The study examines key trends that are currently influencing market growth. This study explains key aspects such as the drivers, restraints, and opportunities for key market players, key stakeholders, and new businesses involved in providing payment gateway services.

The study also discusses the factors that would influence the future position of the payment gateway market over the forecast period. The research includes a thorough examination of value chain analysis, business execution, and supply chain analysis across regional marketplaces.

This comprehensive research study is strengthened by a list of significant firms active in the worldwide payment gateway market, together with their product portfolios, main strategies, and SWOT analysis.

COVID-19 Scenario Analysis:

• Since the COVID-19 viral outbreak in December 2019, the disease has spread to nearly every country on the planet, prompting the WHO to declare it a public health emergency. The disease's global effects are already being noticed, and it is predicted to have a considerable influence on the global payment gateway business by 2020.
• Despite the fact that governments have instituted lockdowns in order to control the virus's spread, businesses have turned to online mode for operations and are conducting financial transactions online, which is boosting the payment gateway market.
• E-commerce sales soared during the Corona virus pandemic, contributing to market growth.

Key Takeaways from the Market Study

• The market to hold a value of USD 26 Bn in 2022
• North America to have dominated the market by acquiring more than 36% of the global revenue share in 2021
• APAC to be the fastest-growing regional market during the forecast period
• The hosted segment projected to have garnered 57% of the global revenue share
• The large enterprise segment is projected to have secured about 55% of the global revenue
• The retail and e-commerce segment to have dominated the market in 2021 and is expected to have acquired about 24% of the market share

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Key Takeaways from the Market Study

• Global pet insurance market revenue to reach US$ 9.9 Bn by the end of 2022
• Europe to hold a revenue share of over 44% of the pet insurance market by 2022
• Asia Pacific region is projected to grow at the fastest rate of over 18% during the forecast period, 2022-2032.
• It is estimated that the accident and illness segment will hold the largest revenue share in 2022 at 85%.
• In 2022, the dogs segment will account for more than 50% of the market's revenue.
• Direct sales dominated the market in 2021, projected to hold 34% of market revenue by 2022.

Key Market Segments Covered in the Payment Gateway Market

• By Enterprise Size :

o Small & Medium Enterprises
o Large Enterprises

• By Based on End-Use :

o Media & Entertainment
o Travel & Hospitality
o Retail & E-commerce
o BFSI
o Others

• By Type :

o Non-hosted
o Hosted

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Explore Fact.MR’s Comprehensive Coverage on Technology Domain:

Biometric Payment Market- Biometric payment systems are a point-of-sale (POS) technology which makes use of biometric authentication for enabling a transaction or payment process. Know more at https://www.factmr.com/report/1850/biometric-payment-market

Wearable Payment Devices Market- Wearable payment refers to payment transactions conducted using wearable devices that are connected with wireless technologies such as NFC and RFID. Know more at https://www.factmr.com/report/wearable-payment-devices-market

Real-Time Payments Market- The demand for real-time payment solutions has particularly increased in the wake of the COVID-19 outbreak. Know more at https://www.factmr.com/report/real-time-payments-market

Mobile Payment Market- mobile payments are offering rewards and cashbacks. This, in turn, is attracting consumers to use mobile payments. Know more at https://www.factmr.com/report/mobile-payment-market

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