Product Code: MRFR/ICT/6103-CR
Market Overview
Digital Payment Market is anticipated to register a significant CAGR of 14.83% during the period. The key market drivers upgrading market development are the expanded need to drive proficiency and adequacy and developing reception across different verticals, including energy and utilities, medical services, and life sciences.
Taking on the furthest down the line advancements to ease business tasks is driving the development of digital payment in the medical care market during the figure time frame. Organizations are anticipating taking on these advancements to work on their adaptability and adaptability and decrease the general expense of business activities. To zero in on the center capabilities, the organizations are rethinking their business cycles to the outsider organization with the assistance of programming as a help. Furthermore, computerized reasoning and AI are assisting with mechanizing business processes. This variable drives the market CAGR.
Furthermore, the development of digital payment in the medical services market is being impelled by different variables. One huge driver is the need to embrace IT arrangements that line up with customer drifts, the interest for smoothed out acquisition processes by organizations, and the administration of consistency approaches and arrangements. Nonetheless, re-appropriating dangers and the executive's troubles should be addressed to additionally invigorate market development. On the positive side, mechanical progressions, expanded request from the assembling areas, and the reception of artificial intelligence and enormous information advances present promising open doors for market development in the conjecture period.
Market Segmentation
Solutions and services are included in the market segmentation of digital payments based on components. Because solutions make it easier for patients to complete secure, convenient electronic transactions, they also streamline payment processes, which is why the solution segment dominated the market. They increase overall efficiency, cut down on administrative expenses, and do away with the need for manual documentation. Furthermore, digital payment options improve the patient experience by offering increased accuracy and transparency in financial transactions.
Cloud and on-premises are included in the market segmentation of digital payments based on deployment.
The BFSI, Media & Entertainment, IT & Telecommunication, Hospitality, Healthcare, and Retail & E-Commerce sectors are included in the market segmentation for Digital Payments, according to Vertical.
Regional Insights
The North American Digital Payment market will overwhelm because of the expanded need to drive productivity and adequacy and will help the market development around here.
Europe's Digital Payment market represents the second-biggest market share on the grounds that Digital Payment is seeing development across different verticals, including energy and utilities, medical care, and life sciences. The expanded reception of Digital Payment administrations in these enterprises adds to market extension.
The Asia-Pacific Digital Payment Market is anticipated to register the fastest growing region. This is because of reception in the assembling vertical. The verticals incorporate retail and buyer merchandise, assembling, IT, and broadcast communications.
Major Players
Key Companies in the Digital Payment Market Include PayPal, Visa Inc., MasterCard Incorporated, Amazon.com, Paytm Mobile Solutions Private Limited, and Alipay.com Co. Ltd.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
- 2.1 DEFINITION 17
- 2.2 SCOPE OF THE STUDY 17
- 2.3 MARKET STRUCTURE 18
3 MARKET INSIGHTS
4 RESEARCH METHODOLOGY
- 4.1 RESEARCH PROCESS 21
- 4.2 PRIMARY RESEARCH 22
- 4.3 SECONDARY RESEARCH 23
- 4.4 MARKET SIZE ESTIMATION 24
- 4.5 FORECAST MODEL 25
- 4.6 LIST OF ASSUMPTIONS 26
5 MARKET DYNAMICS
- 5.1 INTRODUCTION 27
- 5.2 DRIVERS 27
- 5.2.1 INITIATIVES TO PROMOTE DIGITAL PAYMENT ADOPTION 27
- 5.2.2 INCREASING NUMBER OF SMARTPHONE USERS 28
- 5.2.3 CHANGING CONSUMER BUYING BEHAVIOUR 28
- 5.2.4 DRIVERS IMPACT ANALYSIS 29
- 5.3 RESTRAINTS 29
- 5.3.1 SECURITY CONCERNS REGARDING ONLINE PAYMENT 29
- 5.3.2 LACK OF DIGITAL LITERACY 30
- 5.3.3 RESTRAINT IMPACT ANALYSIS 30
- 5.4 CHALLENGE 30
- 5.4.1 LACK OF STANDARDS FOR CROSS-BORDER PAYMENTS 30
- 5.5 OPPORTUNITIES 31
- 5.5.1 NEED TO DECREASE UNBANKED POPULATION 31
- 5.5.2 CHANGES IN REGULATORY FRAMEWORKS 31
- 5.6 MARKET TRENDS 32
6 MARKET FACTOR ANALYSIS
- 6.1 VALUE CHAIN ANALYSIS 33
- 6.2 PORTER'S FIVE FORCES MODEL 34
- 6.2.1 THREAT OF NEW ENTRANTS 34
- 6.2.2 BARGAINING POWER OF SUPPLIERS 35
- 6.2.3 BARGAINING POWER OF BUYERS 35
- 6.2.4 THREAT OF SUBSTITUTES 35
- 6.2.5 INTENSITY OF RIVALRY 35
7 GLOBAL DIGITAL PAYMENT MARKET, BY COMPONENT
- 7.1 OVERVIEW 36
- 7.2 SOLUTION 37
- 7.2.1 POINT OF SALE 38
- 7.2.1.1 POINT OF SALE: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 38
- 7.2.2 PAYMENT GATEWAY 39
- 7.2.2.1 PAYMENT GATEWAY: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 39
- 7.2.3 PAYMENT PROCESSING 39
- 7.2.3.1 PAYMENT PROCESSING: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 40
- 7.2.4 PAYMENT WALLET 40
- 7.2.4.1 PAYMENT WALLET: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 41
- 7.2.5 PAYMENT SECURITY 41
- 7.2.5.1 PAYMENT SECURITY: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 42
- 7.2.6 PAYMENT FRAUD MANAGEMENT 42
- 7.2.6.1 PAYMENT FRAUD MANAGEMENT: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 43
- 7.3 SERVICES 43
- 7.3.1 SERVICES: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 44
8 GLOBAL DIGITAL PAYMENT MARKET, BY DEPLOYMENT
- 8.1 OVERVIEW 45
- 8.2 CLOUD 46
- 8.2.1 CLOUD: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 46
- 8.3 ON-PREMISE 47
- 8.3.1 ON-PREMISE: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 47
9 GLOBAL DIGITAL PAYMENT MARKET, BY ORGANIZATION SIZE
- 9.1 OVERVIEW 48
- 9.2 SMALL & MEDIUM ENTERPRISE (SMES) 49
- 9.2.1 SMALL & MEDIUM ENTERPRISE: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 49
- 9.3 LARGE ENTERPRISE 50
- 9.3.1 LARGE ENTERPRISE: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 50
10 GLOBAL DIGITAL PAYMENT MARKET, BY VERTICAL
- 10.1 OVERVIEW 51
- 10.2 BFSI 52
- 10.2.1 BFSI: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 52
- 10.3 HEALTHCARE 53
- 10.3.1 HEALTHCARE: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 53
- 10.4 IT & TELECOMMUNICATION 54
- 10.4.1 IT & TELECOMMUNICATION: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 54
- 10.5 RETAIL & E-COMMERCE 55
- 10.5.1 RETAIL & E-COMMERCE: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 55
- 10.6 MEDIA & ENTERTAINMENT 55
- 10.6.1 MEDIA & ENTERTAINMENT: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 56
- 10.7 HOSPITALITY 56
- 10.7.1 HOSPITALITY: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 56
- 10.8 OTHERS 57
- 10.8.1 OTHERS: MARKET ESTIMATES & FORECAST, BY REGION, 2020-2027 57
11 GLOBAL DIGITAL PAYMENT MARKET, BY REGION
- 11.1 OVERVIEW 58
- 11.2 NORTH AMERICA 59
- 11.2.1 US 62
- 11.2.2 CANADA 64
- 11.2.3 MEXICO 66
- 11.3 EUROPE 69
- 11.3.1 UK 72
- 11.3.2 FRANCE 74
- 11.3.3 GERMANY 76
- 11.3.4 REST OF EUROPE 78
- 11.4 ASIA-PACIFIC 80
- 11.4.1 CHINA 82
- 11.4.2 JAPAN 85
- 11.4.3 INDIA 87
- 11.4.4 REST OF ASIA-PACIFIC 89
- 11.5 SOUTH AMERICA 92
- 11.6 MIDDLE EAST & AFRICA 95
12 COMPETITIVE LANDSCAPE
- 12.1 COMPETITIVE OVERVIEW 98
- 12.2 COMPETITIVE BENCHMARKING 99
- 12.3 MARKET SHARE ANALYSIS 100
- 12.4 KEY DEVELOPMENTS AND GROWTH STRATEGIES 100
- 12.4.1 NEW PRODUCT LAUNCH/PRODUCT ENHANCEMENT 100
- 12.4.2 ACQUISITION AND EXPANSION 102
- 12.4.3 PARTNERSHIPS 104
- 12.4.4 CONTRACTS & AGREEMENT 107
13 COMPANY PROFILES
- 13.1 FISERV, INC. 109
- 13.1.1 COMPANY OVERVIEW 109
- 13.1.2 FINANCIAL OVERVIEW 110
- 13.1.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 110
- 13.1.4 KEY DEVELOPMENTS 111
- 13.1.5 SWOT ANALYSIS 112
- 13.1.6 KEY STRATEGIES 112
- 13.2 NOVATTI GROUP LIMITED 113
- 13.2.1 COMPANY OVERVIEW 113
- 13.2.2 FINANCIAL OVERVIEW 114
- 13.2.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 115
- 13.2.4 KEY DEVELOPMENTS 115
- 13.2.5 SWOT ANALYSIS 116
- 13.2.6 KEY STRATEGIES 116
- 13.3 ACI WORLDWIDE, INC. 117
- 13.3.1 COMPANY OVERVIEW 117
- 13.3.2 FINANCIAL OVERVIEW 118
- 13.3.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 118
- 13.3.4 KEY DEVELOPMENTS 119
- 13.3.5 SWOT ANALYSIS 120
- 13.3.6 KEY STRATEGIES 120
- 13.4 PAYU 121
- 13.4.1 COMPANY OVERVIEW 121
- 13.4.2 FINANCIAL OVERVIEW 121
- 13.4.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 121
- 13.4.4 KEY DEVELOPMENTS 121
- 13.4.5 SWOT ANALYSIS 122
- 13.4.6 KEY STRATEGIES 122
- 13.5 ALIANT PAYMENTS SYSTEMS INC. 123
- 13.5.1 COMPANY OVERVIEW 123
- 13.5.2 FINANCIAL OVERVIEW 123
- 13.5.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 123
- 13.5.4 KEY DEVELOPMENTS 124
- 13.5.5 SWOT ANALYSIS 124
- 13.6 AURUS INC. 125
- 13.6.1 COMPANY OVERVIEW 125
- 13.6.2 FINANCIAL OVERVIEW 125
- 13.6.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 125
- 13.6.4 KEY DEVELOPMENTS 126
- 13.7 BLUESNAP INC. 127
- 13.7.1 COMPANY OVERVIEW 127
- 13.7.2 FINANCIAL OVERVIEW 127
- 13.7.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 127
- 13.7.4 KEY DEVELOPMENTS 128
- 13.8 PAYPAL HOLDINGS, INC. 129
- 13.8.1 COMPANY OVERVIEW 129
- 13.8.2 FINANCIAL OVERVIEW 129
- 13.8.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 130
- 13.8.4 KEY DEVELOPMENTS 130
- 13.8.5 SWOT ANALYSIS 131
- 13.8.6 KEY STRATEGIES 131
- 13.9 STRIPE 132
- 13.9.1 COMPANY OVERVIEW 132
- 13.9.2 FINANCIAL OVERVIEW 132
- 13.9.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 132
- 13.9.4 KEY DEVELOPMENTS 133
- 13.9.5 KEY STRATEGIES 133
- 13.10 WORLDPAY, INC. 134
- 13.10.1 COMPANY OVERVIEW 134
- 13.10.2 FINANCIAL OVERVIEW 134
- 13.10.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 135
- 13.10.4 KEY DEVELOPMENTS 135
- 13.10.5 SWOT ANALYSIS 136
- 13.11 ADYEN NV 137
- 13.11.1 COMPANY OVERVIEW 137
- 13.11.2 FINANCIAL OVERVIEW 137
- 13.11.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 138
- 13.11.4 KEY DEVELOPMENTS 138
- 13.11.1 SWOT ANALYSIS 139
- 13.11.2 KEY STRATEGIES 139
- 13.12 FIRST DATA CORP. 140
- 13.12.1 COMPANY OVERVIEW 140
- 13.12.2 FINANCIAL OVERVIEW 140
- 13.12.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 141
- 13.12.4 KEY DEVELOPMENTS 141
- 13.12.5 SWOT ANALYSIS 142
- 13.12.6 KEY STRATEGIES 142
- 13.13 GLOBAL PAYMENTS, INC. 143
- 13.13.1 COMPANY OVERVIEW 143
- 13.13.2 FINANCIAL OVERVIEW 143
- 13.13.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 144
- 13.13.4 KEY DEVELOPMENTS 144
- 13.13.5 SWOT ANALYSIS 145
- 13.13.6 KEY STRATEGIES 145
- 13.14 WIRECARD AG 146
- 13.14.1 COMPANY OVERVIEW 146
- 13.14.2 FINANCIAL OVERVIEW 146
- 13.14.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 147
- 13.14.4 KEY DEVELOPMENTS 147
- 13.14.5 SWOT ANALYSIS 148
- 13.14.6 KEY STRATEGIES 148
- 13.15 YAPSTONE INC. 149
- 13.15.1 COMPANY OVERVIEW 149
- 13.15.2 FINANCIAL OVERVIEW 149
- 13.15.3 PRODUCTS/SERVICES/SOLUTIONS OFFERED 149
- 13.15.4 KEY DEVELOPMENTS 149