Dublin, Jan. 22, 2024 (GLOBE NEWSWIRE) -- The "3D Secure Payment Authentication Market Size, Share & Trends Analysis Report By Component (Merchant Plug-in, Access Control Server), By Application (Merchants & Payment Gateway, Banks), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
This report offers a meticulous analysis of the expanding 3D Secure Payment Authentication market, forecasting an impressive growth trajectory leading up to the year 2030. The global market, which is poised to achieve a size of USD 2.76 billion by the end of the forecast period, is set to flourish at a compound annual growth rate (CAGR) of 12.7% from 2023 to 2030.
The surge in market growth can be considerably ascribed to the sweeping advancements within payment authentication technology and the broad application of digital technologies in online payment processes. In the backdrop of a global pandemic, the e-commerce sector has experienced unprecedented growth, significantly elevating the volume of online transactions and, consequently, the demand for robust payment authentication solutions.
Recent technology launches by key industry players aim to optimize the customer experience by ensuring secure and swift transaction processes. The integration of Merchant Plug-ins that bolster credit card fraud prevention measures and Access Control Servers that oversee authentication verifications play a central role in sustaining the market dominance of these components.
Detailed Market Insights Reflect Dominance of Banks and Merchant Plug-ins
- Banks continue to hold a prominent market position, driven by progressive collaborations between financial institutions and 3D secure payment authentication solution providers, aimed at augmenting secure transactional practices.
- Merchant Plug-in solutions emerged as prominent contributors in the market share balance, attributing to their integral role in mitigating credit card fraud through effective 3D secure verification mechanisms.
From a regional perspective, North America is envisaged to showcase expedited growth within the 3D Secure Payment Authentication market. The escalation of card-not-present (CNP) frauds in the region has catalyzed the integration of higher security measures, which is set to fuel the growth of the market throughout the forecast period.
Key Highlights of the 3D Secure Payment Authentication Market Report
- Access Control Servers and Merchant Plug-in components underscore technological innovations aimed at enhancing e-commerce transactional security.
- The demand for heightened secure payment solutions is bolstered by the synergistic efforts of financial institutions and solution providers.
- With card-not-present (CNP) transactions being more prevalent than ever due to the pandemic's influence on online shopping habits, a corresponding uptick in demand for secure payment authentication has emerged.
- North America's aggressive approach towards combating CNP frauds has positioned it as the region to watch over the next seven years.
The analysis encapsulated within the new market study not only highlights significant market growth factors, components, and applications but also provides stakeholders a deep dive into regional market dynamics. As industries and merchants across the globe continue to move towards safer and more reliable online transaction methods, the demand for 3D Secure Payment Authentication solutions is expected to scale steadily through the threshold of this decade.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 130 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $1.1 Billion |
| Forecasted Market Value (USD) by 2030 | $2.76 Billion |
| Compound Annual Growth Rate | 12.7% |
| Regions Covered | Global |
Companies Mentioned
- GPayments Pty. Ltd.
- Broadcom Inc.
- Mastercard Incorporated
- RSA Security LLC
- Modirum
- Visa Inc.
- Bluefin Payment Systems LLC
- DECTA Limited
- American Express Company
- JCB Co. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/ewyxx
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