Covina, Sept. 20, 2023 (GLOBE NEWSWIRE) -- What are Payment Gateway and How Big it is Payment Gateway?
Report Overview:
Payment Gateway technology is used by merchants for accepting credit & debit card purchases from customers and are similar to the point of sale terminals. Payment Gateway provides convenience & better security, faster payments, etc. Paytm, Google Pay, UPI, PayPal are some examples of Payment Gateway.
Advancement in technology and growing online transactions has provided lucrative opportunities in market growth. Growing adoption of digital technology in banks coupled with rising demand for local bank-integrated payment gateway is anticipated to increase the demand for Payment Gateway market growth.
According To Latest Research Report “Payment Gateway Market accounted for US$ 26.79 billion in 2022 and is estimated to be US$ 201.4 billion by 2032 and is anticipated to register a CAGR of 23.3%”
Recent News in Payment Gateway Market:
- In July 2023, Razorpay launched an international Payment Gateway and has become the first Indian startup to launch this product. The new Payment Gateway is developed for Malaysian market with Curlec as “Curlec by Razorpay”. With this launch the Razorpay has become the full-stack payment solutions provider by combining world-class tech capabilities.
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Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | By Type - Hosted, Non-hosted By Enterprise Size - Small & Medium Enterprises, Large Enterprises By End-Users - Retail & E-commerce, BFSI, Travel & Hospitality, Media & Entertainment, and Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
Analyst View:
COVID-19 pandemic has given rise in online sales of goods & services across globe. Rising use of smart phones and increased online transactions through mobile-based apps have facilitated the demand for market growth. Government initiatives in providing internet services in rural areas is expected to boost the demand for Payment Gateway Market growth.
Market Drivers and Restraints:
Market Drivers:
Market drivers are factors that stimulate growth and opportunities within an industry. These can include technological advancements, changing consumer behavior, favorable regulations, demographic shifts, globalization, consumer trends, and investments in innovation.
Market Restraints:
Market restraints are factors that impede or limit market growth. Economic factors, such as recessions or economic instability, can be significant restraints. Additionally, regulatory hurdles, changing consumer preferences, and technological disruptions can pose challenges for businesses operating in a market.
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Key Players Dominating the Payment Gateway Market:
- PayPal Holdings Inc.
- Amazon Payments Inc.
- Stripe
- Bitpay Inc.
- Adyen
- Wepay Inc.
- Verifone Holdings Inc.
- PayU Group
- Braintree
- Authorize.Net
Report Coverage:
- Base Year for Estimation: 2022
- Forecast Period: 2022 – 2032
- Market Representation: Revenue in USD Billion & CAGR from 2022 to 2032
The report includes insights and analysis on the Payment Gateway market, providing information on revenue forecasts, company share, competitive landscape, growth factors, and industry trends. It covers various market segments based on payment gateway types (hosted and non-hosted), enterprise sizes (small & medium enterprises and large enterprises), and end-user industries (retail & e-commerce, BFSI, travel & hospitality, media & entertainment, and others). Additionally, the report provides a regional breakdown, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, with revenue projections and compound annual growth rates (CAGR) for the period from 2022 to 2032.
Faq’s:
1. Why invest in this Payment Gateway Market report?
This report offers vital insights into market trends, growth prospects, and competition. It helps businesses make informed decisions for strategic planning and competitive advantage.
2. What insights does the report provide?
The report covers market drivers, restraints, and growth factors, aiding in trend anticipation, regional targeting, and competitive analysis.
3. How can the report assist in strategic decisions?
It enables data-driven decisions by identifying trends, assessing competition, and helping optimize market positioning for sustainable growth.
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Related Industry Research Report:
- B2B Payments Market Size, Share & Growth | Global Report [2029]
- Real Time Payments Market Size & Share Analysis | Forecast Report [2020-2029]
- Digital Payments Market Size, Share, Growth Drivers & Opportunities Forecast, 2029
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