Dublin, April 25, 2024 (GLOBE NEWSWIRE) -- The "Global Digital Payment Market Size, Share & Trends Analysis Report by Solution, Mode of Payment (Bank Cards, Digital Currencies, Digital Wallets), Deployment, Enterprise Size, End-use, Region, and Segment Forecasts, 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The global digital payment market is anticipated to reach USD 361.3 billion by 2030, expanding at a CAGR of 21.1% during the forecast period. The market's growth can be attributed to the increasing number of non-cash transactions, alongside technological advancements within the fintech sector. Numerous fintech firms and banks are striving to enhance their digital services in order to align with evolving customer demands.
Biometric authentication in digital payments is expected to gain momentum in the coming years. It is a method used for authentication which involves the verification of biological characteristics related to particular person. The authentications include factors such as facial recognition, fingerprint scanning, heartrate analysis, and vein mapping. According to Payments Industry Intelligence, biometric authentication solutions are expected to be used to secure USD 2.5 trillion worth of mobile payment transactions by 2024.
The increase in the adoption of innovative technologies, such as assisted checkouts (ACOs) in the retail industry, is expected to push digital payment industry towards growth.
Digital Payment Market Report Highlights
- In terms of solution, the payment processing segment is expected to retain its dominance over the forecast period. The introduction of payment networks such as Mastercard, Visa, and Rupay in multiple countries is anticipated to contribute to the growth
- In terms of mode of payment, the point of sales segment dominated in 2023 and is expected to witness significant growth over the forecast period. The growing preference for digital wallets while paying for e-commerce transactions and online purchases is expected to drive the segment growth
- In terms of deployment, the on-premise segment dominated with the largest revenue share in 2023. On-premise deployment of digital payment solutions facilitates secured transactions, which is expected to bode well for this segment's growth
- In terms of enterprise size, the large enterprises segment held the largest revenue share in 2023. Many large enterprises have adopted digital payment solutions to manage their payment transactions efficiently, improve the visibility of transactions, and enhance customer experience by reducing the time required to complete the payment
- In terms of end-use, the BFSI segment dominated the market in 2023. The continued digitalization of banks and other financial institutions is anticipated to drive this segment's growth
- Asia-Pacific is anticipated to witness significant CAGR from 2024 to 2030. The increasing adoption of digital payment solutions in emerging economies such as China and India is expected to create growth opportunities in the region
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $96.07 Billion |
| Forecasted Market Value (USD) by 2030 | $361.3 Billion |
| Compound Annual Growth Rate | 21.1% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Digital Payment Market: Methodology and Scope
Chapter 2. Digital Payment Market: Executive Summary
Chapter 3. Digital Payment Market: Variables, Trends, and Scope
3.1. Market Introduction/Lineage Outlook
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Drivers Analysis
3.3.1.1. Increasing government initiatives for the promotion of digital payments
3.3.1.2. Growing penetration of smartphones
3.3.2. Market Challenge Analysis
3.3.2.1. Cyberattacks affecting digital payments
3.3.3. Market Opportunity Analysis
3.3.3.1. Growing demand for contactless payment solutions
3.4. Digital Payment Market Analysis Tools
Chapter 4. Digital Payment Market: Solution Estimates & Trend Analysis
4.1. Segment Dashboard
4.2. Digital Payment Market: Solution Movement Analysis, 2023 & 2030 (USD Billion)
4.3. Application Program Interface
4.4. Payment Gateway
4.5. Payment Processing
4.6. Payment Security & Fraud Management
4.7. Transaction Risk Management
Chapter 5. Digital Payment Market: Mode of Payment Estimates & Trend Analysis
5.1. Segment Dashboard
5.2. Digital Payment Market: Mode of Payment Movement Analysis, 2023 & 2030 (USD Billion)
5.3. Bank Cards
5.4. Digital Currencies
5.5. Digital Wallets
5.6. Net Banking
5.7. Point of Sales
Chapter 6. Digital Payment Market: Deployment Estimates & Trend Analysis
6.1. Segment Dashboard
6.2. Digital Payment Market: Deployment Movement Analysis, 2023 & 2030 (USD Billion)
6.3. Cloud
6.4. On-premise
Chapter 7. Digital Payment Market: Enterprise Size Estimates & Trend Analysis
7.1. Segment Dashboard
7.2. Digital Payment Market: Enterprise Size Movement Analysis, 2023 & 2030 (USD Billion)
7.3. Large Enterprises
7.4. Small & Medium Enterprises
Chapter 8. Digital Payment Market: End-use Estimates & Trend Analysis
8.1. Segment Dashboard
8.2. Digital Payment Market: End-use Movement Analysis, 2023 & 2030 (USD Billion)
8.3. BFSI
8.4. Healthcare
8.5. IT & Telecom
8.6. Media & Entertainment
8.7. Retail & E-commerce
8.8. Transportation
Chapter 9. Digital Payment Market: Regional Estimates & Trend Analysis
9.1. Digital Payment Market Share, by Region, 2023 & 2030, USD Billion
Chapter 10. Competitive Landscape
10.1. Recent Developments & Impact Analysis by Key Market Participants
10.2. Company Categorization
10.3. Company Market Positioning
10.4. Company Market Share Analysis
10.5. Company Heat Map Analysis
10.6. Strategy Mapping
10.7. Company Profiles
- Aliant Payments
- Aurus Inc.
- Adyen
- Financial Software & Systems Pvt. Ltd.
- PayPal Holdings Inc.
- Novatti Group Pty Ltd.
- ACI Worldwide, Inc.
- Global Payments Inc.
- Wirecard
- Authorize.Net
For more information about this report visit https://www.researchandmarkets.com/r/8e7ggn
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