Payment as a Service Market 2019 Size, Growth, Share, Opportunities, Emerging Technologies, Competitive Landscape, Future Plans and Trends by Forecast 2024
Global Payment as a Service Market: by Component (Service (Professional, Managed, Platform), by Vertical (BFSI, Retail, Healthcare, Media & Entertainment, Hospitality), by Region (North America, Europe, Asia-Pacific, ROW) – Forecast till 2024
Pune, India – July 10, 2019 /MarketersMedia/ —
Overview
The Global Payment as a Service Market was valued at USD 4.27 billion in 2018 and is estimated to reach USD 14.37 Billion by 2024 growing at a CAGR of 23.20% during the forecast period 2019–2024.
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Segments
Market Research Future (MRFR) has segmented the payment as a service market on the basis of component, vertical, and region.
By component, the payment as a service market has been segmented into platform and service. Among these, currently, payment platforms are dominating the market due to increasing adoption of digital payment methods by consumers worldwide. PayPal, PayU, Stripe, Braintree, BlueSnap, and Zoho Checkout among others are some popular payment gateway providers globally. Government support for digital transformation is one of the prime factors for the significant growth of payment platforms. Whereas, the service segment comprise professional and managed services, are projected to witness high growth rate in the coming years. Security concerns among end-users regarding online or digital transactions, due to lack of skilled expertise, has propelled the market of payment service providers.
By vertical, the market has been segmented into BFSI, retail, hospitality, media & entertainment, healthcare. Among these, BFSI is currently dominating the market due to high demand for secured real-time payment gateways by end-users. Increasing digital transactions on various platforms, growing market of e-commerce, and government support for contactless payments are some of the prime factors driving the adoption of payment as a service among banking and financial institutions. Whereas, retail, followed by the hospitality sector, is projected to grow with the fastest CAGR, respectively.
Key Players
The Payment as a Service Market is expected to be a growing market in the coming years owing to the presence of numerous large players active in the regional market. First Data Corporation, Total System Services (TSYS), Paysafe Group Ltd, Verifone, Ingenico, Aurus, Inc., Pineapple Payments, ePay, BlueSnap, Inc., PayU, Alpha Fintech, Google, Stripe, Braintree, Amazon, Skrill, Zoho Checkout, BitPay, Authorize.net, WePay, and First American Payment Systems are the companies leading the payment as a service market globally.
Regional Analysis
By region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America has been further segmented into the US, Canada, and Mexico. Europe has been further segmented into Germany, the UK, France, Spain, Norway, Sweden, and Italy. Asia-Pacific has been sub-segmented into China, Japan, India, Singapore, Australia, Malaysia, Thailand, Indonesia, Vietnam, the Philippines, and South Korea. Also, the rest of the world has been classified into the Middle East & Africa and South America.
LIST OF TABLES
Table 1 Payment As A Service Market, By Region, 2019–2024
Table 2 North America: Payment As A Service Market, By Country, 2019–2024
Table 3 Europe: Payment As A Service Market, By Country, 2019–2024
Table 4 Asia-Pacific: Payment As A Service Market, By Country, 2019–2024
Table 5 Rest Of The World: Payment As A Service Market, By Region, 2019–2024
Continued……
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LIST OF FIGURES
FIGURE 1 The Global Payment As A Service Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of The Global Payment As A Service Market
FIGURE 4 Value Chain/Supply Chain Of The Global Payment As A Service Market
FIGURE 5 Share Of The Global Payment As A Service Market In 2018, By Country (In %)
Continued……
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