Dublin, Oct. 18, 2023 (GLOBE NEWSWIRE) -- The "Global Digital Payment Forecasts 2023-2027" report has been added to ResearchAndMarkets.com's offering.
This provides valuable insights into the future trends of the global digital payment market. Among the key findings, the report reveals that real-time payments are experiencing a remarkable surge in popularity worldwide, with Egypt projected to exhibit one of the highest growth rates between 2022 and 2027.
Key Highlights:
- Explosive Growth in Non-Cash Transactions: By 2026, the volume of non-cash transactions worldwide is expected to nearly double. The global online payments industry has been significantly influenced by the COVID-19 pandemic, resulting in substantial advancements. The adoption of cashless payments has accelerated dramatically and is expected to continue growing post-pandemic. Global cashless transactions are forecasted to grow at a Compound Annual Growth Rate (CAGR) of over 16% from 2023 to 2026, surpassing 2 trillion non-cash transactions.
- Asia-Pacific Leading the Charge: Asia-Pacific is expected to contribute the highest value to the global cashless transactions market by 2026, followed closely by Europe and North America.
- Real-Time Payments on the Rise: The use of digital payments is steadily increasing worldwide, with a growing number of individuals opting for cashless transactions. Consequently, real-time payments are gaining popularity globally. In 2022, the Middle East, Africa, and Southeast Asia region recorded the highest volume of real-time payments, approaching 100 billion transactions. Asia-Pacific and Latin America followed suit. These regions are projected to maintain their top positions, with Asia-Pacific surpassing the Middle East, Africa, and South Asia by 2027.
- Egypt's Remarkable Growth: Egypt is poised to experience one of the highest real-time payment transaction volume growth rates, with a triple-digit Compound Annual Growth Rate (CAGR) anticipated between 2022 and 2027, reaching close to one billion transactions.
- Real-Time Payments Dominance: The share of real-time payments in total electronic payments is currently and is expected to remain the highest in the Middle East, Africa, and South Asia, reaching almost 80% by 2027.
Countries Covered:
- Argentina
- Brazil
- Canada
- Chile
- China
- Colombia
- Egypt
- France
- Germany
- India
- Indonesia
- Italy
- Japan
- Mexico
- Nigeria
- Philippines
- Russia
- Saudi Arabia
- Singapore
- South Korea
- UAE
- United Kingdom
- USA
Companies Mentioned
- Alipay
- Android Pay
- Apple Pay
- Paypal
- Samsung Pay
Key Questions Answered:
- What is the size of the global digital payments market in 2023 and how is it projected to grow through 2030?
- How high is the non-cash transaction volume in different regions globally and how is it projected to change by 2026?
- How many adults in China will use digital wallets daily in 2022?
- By how much will the real-time payments volume grow by 2027 in different regions and countries worldwide?
- How much will real-time payments make up of total electronic payments across the global regions by 2027?
Key Topics Covered:
1. Management Summary
2. Global Developments
- Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2020 - 2025f
- B2B Non-Cash Transaction Volume, by Regions, in billions, and Y-o-Y Change of Global, in %, 2019 - 2025f
- Number of Mobile Contactless Transactions, in billions, 2021e & 2023f
- Number of Cashless Transactions, in billions, CAGR, in %, 2020, 2025f & 2030f
- Proximity Mobile Payment Users in Select Countries, in % of Smartphone Users, 2021e
3. Asia-Pacific
4. Europe
5. North America
6. Latin America
7. Middle East & Africa
For more information about this report visit https://www.researchandmarkets.com/r/vk3fti
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