New York, USA, Dec. 07, 2021 (GLOBE NEWSWIRE) -- A new report on the global payment analytics software market has been added by Research Dive to its repository. According to the report, the global market is expected to hit $4,382.8 million by 2028, rising at a CAGR of 5.2% from 2021 to 2028. This report in an in-depth study offering meticulous insights into the present situation and future scope of the global industry. The report is drafted by expert market analysts and assures to be a reliable source of data and comprehensive market insights for new market players, investors, prevalent players, stakeholders, shareholders, etc.
Factors Impacting the Market Growth:
Growing adoption of online payments on smartphones and rising penetration of the internet across the globe are the main factors boosting the growth of the global market. Additionally, the increasing technological developments in payment analytics software solutions by market players is anticipated to bring in lucrative growth opportunities for the market in the forecast period. However, issues related to data privacy in payment analytics tools is projected to obstruct the growth of the market.
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COVID-19 Pandemic Impact on the Market:
The outbreak COVID-19 pandemic has positively impacted the growth of the global payment analytics software industry. The pandemic has significantly fueled online transactions during the lockdown period, as people were ordering things at their home to avoid social contact during the lockdown period. As a result, several businesses implemented payment analytics software for efficient monitoring of transactional data and avoiding associated risks in the payment processes. This has significantly driven the growth of the global market during the pandemic.
The report segments the global payment analytics software market into type, enterprise size, and region.
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Web based Sub-Segment to Dominate the Market
The web based sub-segment of the type segment is expected to dominate the market by surpassing $2,302.4 million in the estimated timeframe. This growth is primarily owed to the growing adoption of web based payment analytics software solutions by several businesses for monitoring important performance indicators in the business processes.
SME Sub-Segment to Observe Speedy Growth
The SME sub-segment of the enterprise size segment is projected to observe accelerated growth and hit $1,882.3 million in the projected timeframe. This growth is primarily because of the rise in the development of small & medium businesses, which generate huge volumes of data.
Asia-Pacific Region to Hold a Leading Market Position
The report evaluates the global payment analytics software market across numerous regions including Asia Pacific, North America, Europe, and LAMEA. Among these, the Asia-Pacific region market is projected to grow speedily and garner $1,137.8 million in the estimated timeframe. The growth of this region market is mainly owing to the growing penetration of smart phones, increasing development of the e-commerce sector, and rapid economic growth in several countries in this region.
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Major Players of the Market
Some of the prime players functioning in the global payment analytics software market are
- Payfirma
- BlueSnap
- Databox
- Yapstone
- CashNotify
- HiPay Intelligence
- ProfitWell
- PaySketch
- Revealytics
- RJMetrics, and others.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. For instance, in February 2021, BankBI, a leading provider of cloud-native SaaS analytics solutions, launched its Financial Performance Analytics app on Finastra’s FusionStore to help the C-Suite in financial institutions to develop their balance sheet, monitor profitability, and boost productivities.
In Addition, the report having some numorus point about the leading Business Manufactures, Like, SWOT analysis, Product Portfolio, Finanical Status - Inquire to Get access for Detailed Top Companies Development Strategy Report
Related Article Links:
- Global Payment Analytics Software Market to Have Lucrative Opportunities in the Future with the Growing Acceptance for Online Transactions
- How Could Payment Analytics Software Be So Effective and Beneficial Tool for Businesses Worldwide?
