The new report by Expert Market Research titled, ‘Global Digital Payment Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global digital payment market, assessing the market based on its segments like solution, deployment, mode of payment, end use, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2021-2026)
- Historical Market Size (2020): USD 4.9 Trillion
- Forecast CAGR (2021-2026): 13%
- Forecast Market Size (2026): USD 10.4 Trillion
The global digital payment market is driven by the initiatives of government to introduce digitisation in the economies in developing countries such as India, China, Singapore, and Australia. In order to improve transparency, boost productivity, and provide easy transaction facilities the growing investment of government and private players will drive the growth in the forecast period. Additionally, the growing utilisation of smart phones and rapid development in network & communication sector to provide faster internet will aid the growth. Further, amidst Covid-19 pandemic the digital market saw a rapid growth owing to the need for contactless services.
Request a free sample copy in PDF or view the report summary@ https://www.expertmarketresearch.com/reports/digital-payment-market/requestsample
Digital Payment Industry Definition and Major Segments
Digital payments are online or digital transactions which do not involve exchange of physical cash. It requires electronic medium for exchange of money in between payer and payee. They require internet and a device with a mediating electronic platform.
The market is divided on the basis of solution into:
- Payment Gateway
- Payment Security and Fraud Management
- Payment Processing
- Transaction Risk Management
- Others
The market is bifurcated on the basis of deployment into:
- Cloud
- On-Premises
In terms of mode of payment, the market is segmented into:
- Digital Wallets
- Bank Cards
- Debit card
- Credit card
- Pre-paid card
- Net Banking
- Digital Currencies
- Others
The market is segmented on the basis of end use into:
- BFSI
- Healthcare
- Retail and E-commerce
- IT and Telecommunication
- Media and Entertainment
- Transportation and Logistics
- Travel and Hospitality
- Education
- Others
On the basis of regional markets, the industry is divided into:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Explore the full report with the table of contents@ https://www.expertmarketresearch.com/reports/digital-payment-market
Digital Payment Market Trends
Regionally, North America and Europe are the largest shareholder in the global digital payment market owing to the early adoption of the technology. Moreover, advance smartphone technology and internet in the region aids to the growth of the market. Meanwhile, Asia Pacific is expected to witness fastest growth in the forecast period. This can be attributed to the growing smartphone penetration in the Asia Pacific region and growing usage of digital wallets due to its convenience. Additionally, heavy investment by governments in developing countries such as China and India, for development of digital platforms, favourable legislations and presence of domestic players will aid the growth. Further the preference of contactless transaction amidst covid-19 pandemic will propel the growth.
Key Market Players
The major players in the market are Square, Inc., Fiserv, Inc., PayPal Holdings, Inc., Visa Inc., MasterCard Incorporated, Apple Inc., One97 Communications Limited, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
Related Reports:
ASEAN Trade Finance Market: https://www.expertmarketresearch.com/reports/asean-trade-finance-market
Global Takaful Market: https://www.expertmarketresearch.com/reports/takaful-market
Global Microinsurance Market: https://www.expertmarketresearch.com/reports/microinsurance-market
Global Bancassurance Market: https://www.expertmarketresearch.com/reports/bancassurance-market
India Prepaid Cards Market: https://www.expertmarketresearch.com/reports/india-prepaid-cards-market
About Us:
Expert Market Research (EMR) is leading market research company with clients across the globe. Through comprehensive data collection and skilful analysis and interpretation of data, the company offers its clients extensive, latest and actionable market intelligence which enables them to make informed and intelligent decisions and strengthen their position in the market. The clientele ranges from Fortune 1000 companies to small and medium scale enterprises.
EMR customises syndicated reports according to clients’ requirements and expectations. The company is active across over 15 prominent industry domains, including food and beverages, chemicals and materials, technology and media, consumer goods, packaging, agriculture, and pharmaceuticals, among others.
Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.
Media Contact
Company Name: Claight Corporation
Contact Person: Steven Luke, Corporate Sales Specialist – U.S.A.
Email: sales@expertmarketresearch.com
Toll Free Number: +1-415-325-5166 | +44-702-402-5790
Address: 30 North Gould Street, Sheridan, WY 82801, USA
Website: https://www.expertmarketresearch.com
