New York, USA, June 01, 2022 (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 $4,844.1 million by 2030, rising at a CAGR of 4.6% from 2022 to 2030. This report is an in-depth study offering scrupulous 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 Payment Analytics Software Market Growth:
The use of smartphones is rising owing to the growing availability of 3G and 4G connectivity. Many businesses as well as customers have started accepting and making payments through smartphone apps. This is fueling the growth of the global payment analytics software market. Additionally, rising technological advances in payment analytics software, such as the integration of technologies like machine learning, big data analytics, and artificial intelligence, are projected to bring in lucrative growth opportunities for the market in the forecast period. However, legal concerns, as well as data privacy issues in payment analytics software, are projected to hamper the growth of the market.
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Impact of COVID-19 Pandemic on the Payment Analytics Software Market:
The abrupt rise of the COVID-19 pandemic in 2020 has had a positive impact on the growth of the global payment analytics software market. The implementation of lockdown restrictions and social distancing norms in the pandemic period has forced people to stay at home and adopt online modes of shopping. This has significantly boosted online transactions across the world. As payment analytics software assists customers in making improved financial decisions, its demand is rising. This has optimistically affected the payment analytics software market during the pandemic.
The report segments the global payment analytics software market into type, enterprise size, and region.
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Cloud Based Payment Analytics Software Sub-Segment to Experience Accelerated Growth
Among the type segment, the cloud-based payment analytics software sub-segment is expected to experience rapid growth and garner $2,307.4 million during the forecast period. The growth of this sub-segment is mostly because of the rising demand for cloud-based payment analytics software in fundamental banking services to assimilate numerous data and applications such as Apple Wallet, Digital Wallets, Paypal Account, and many others, and thus transform the traditional business model of banks.
Large Enterprise Sub-Segment to Observe Dominant Growth
Among the enterprise size segment, the large enterprise sub-segment is projected to grab the leading market share and hit $2,734.7 million during the estimated timeframe. This is mostly because of the increasing adoption of payment analytics software in large enterprises as they are implementing digital payment applications to automate their billing systems, offer better services to consumers, streamline the company's processes, and obtain a cutting-edge market.
Europe Payment Analytics Software Market to Observe Leading Growth
The report analyses the global payment analytics software market across several regions such as North America, Europe, Asia Pacific, and LAMEA. Among these, the Europe regional market is expected to lead the market by garnering $1,388.3 million during the estimated timeframe. The growth of this regional market is mainly owing to the growing adoption of smartphones and rising use of mobile payment methods in numerous developed as well as developing European nations.
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Major Players in the Payment Analytics Software Market:
The report lists some of the leading players functioning in the global payment analytics software industry
- Revealytics
- BlueSnap
- Databox
- ProfitWell
- Payfirma
- Yapstone
- HiPay Intelligence
- PaySketch
- RJMetrics.
- CashNotify, and others.
The report also offers several industry-top tactics and approaches such as top strategic moves & developments, product/service range, business performance, Porter's five forces analysis, and SWOT analysis of the foremost players, functioning in the global industry. – Inquire Here to Get access to Full report to stay ahead of your competitors@ https://www.researchdive.com/purchase-enquiry/8521
For instance, in November 2021, ACI Worldwide, a global leader in providing real-time digital payment software, launched Omni-Commerce Payment Analytics to empower traders to access and scrutinize the huge amounts of transaction data in real time. With this launch, ACI Worldwide aims to make a prominent foothold in the global payment analytics software market.
More about the Payment Analytics Software Market:
- Product Launches and Strategic Partnerships by Market Players such as BKD Analytics and ACI Worldwide to Drive the Payment Analytics Software Market Growth
- The Need for Payment Analytics Software in Today’s Digital Era
- How Could Payment Analytics Software Be So Effective and Beneficial Tool for Businesses Worldwide?
