Global Digital Payments Market segments and their analysis offer a complete In-depth view of the industry to readers including stakeholders, vendors, suppliers, investors, buyers, and others too.
Global Digital Payments Market report precisely offers the necessary information, as well as advanced analysis, to assist in developing the best business strategy and determining the best path for maximum growth for the market’s participants. The research report of Digital Payments Marketprovides a top-to-bottom analysis of crucial aspects like growth drivers, major challenges, and opportunities that will impact the industry trends over the forecast timeline. It thoroughly explores the geographical landscape of the market, emphasizing pivotal factors like sales accrued, revenue garnered, growth rate, and prospects of the regional markets. Apart from this, the industry is also studied from the perspective of product terrain and application spectrum. In-depth information on revenue and sales volume predictions of each product type are presented.The report focuses on the Digital Payments Market size, segment size (mainly covering product type, application, and geography), competitor landscape, recent status, and development trends.
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Digital Payments Market is segmented on the basis of product, and type. All of these segments have been studied individually. The detailed investigation allows assessment of the factors influencing the Digital Payments Market. Analysts have analyzed the nature of development, investments in research and development, changing consumption patterns, and a growing number of applications. In addition, analysts have also evaluated the changing economics around the Digital Payments Market that are likely to affect its course.
The regional analysis section of the Digital Payments Market share report allows players to concentrate on high-growth regions and countries that could help them to expand their presence in the Digital Payments market. Apart from extending their footprint in the Digital Payments market, the regional analysis helps players to increase their sales while having a better understanding of customer behavior in specific regions and countries. The report provides CAGR, revenue, production, consumption, and other important statistics and figures related to the global as well as regional markets. It shows how different types, applications, and regional segments are progressing in the Digital Payments market in terms of growth.
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Global Digital Payments Market is projected to register a CAGR of 14.1%, during the forecast period (2018 – 2023). Payment by cash is no more in style with the emergence of the digital or cashless payment options. The scope of the report is limited to the services offered by major digital payment enablers. The regions considered in the scope of the report include North America, Europe, and various others. The report studies the increasing digital payment options across various parts of the world.
Digital Payments is the biggest FinTech segment in 2017 due to a high online shopping penetration. Seamless integration of Payment Solutions is also a major driving force in the digital payments market. Consumers, as well as businesses, are interested in faster, safer, and more convenient payment methods. There are different digital payment methods, like bank Cards, Net Banking, e-wallets, Mobile In-store applications, etc. Top three payment methods used across the globe are Credit cards, digital payment systems (PayPal, Apple Pay, etc.), and debit cards. Digital Payments find applications in different sectors, like Retail, Transportation, Entertainment and Media, Banking and Financial sector, etc. To make these digital payments safe for consumers to use. Companies are developing security software that will allow digital payments not vulnerable to threats through wireless networks among individual consumers. Security concerns act as a barrier in the digital payments market. Additional charges for making digital payments from banks also might slow down the growth of the digital payments market.
Smartphones and E-commerce propelling the market
Millennials accounting close to 27% of the global population, have technology as such an integral part of their lifestyle. This population group has been identified to be heavily influenced by technology, while the generation’s buying habits and expectations are based on Instant gratification that smartphones, Internet, and modern conveniences provide. This has paved the way for retailers and other service providers to target customers where they usually dwell, the internet. The internet drove the e-commerce across most of the sectors and regions. The e-commerce market in the world is estimated to reach USD 653 billion in 2018. In 2017 the global e-commerce market is dominated by China with a market size of USD 672 billion while India, Indonesia, and Mexico are emerging markets.
The increasing smartphones are also driving the digital payment market. Nearly 90% of millennials today own and are in close contact with their smartphones throughout the day. Retailers, like Amazon are investing heavily to provide customers convenient ways of shopping by introducing e-wallets where customers can load money and use for their future purchases. With the entire world shifting towards more technologically-driven payment methods, digital currencies, such as Bitcoins, are also emerging. However, this payment method isn’t entirely being regulated and recognized as a financial service by governments except for in countries, like Finland.
Changing Consumer Buying Behavior
Since digital payments provide customers with convenience, allows them to track spending, the penetration is increasing over time. Consumer behavior is changing quickly, and businesses find the need to stay on par with changing payment demands. Digital payment services, banks and other enablers, like Venmo, Google Pay, Pay Pal, etc. are offering unmatchable discounts, which result in more consumers switching to digital payments and therefore impacting the global digital payments market.
Many consumers are turning towards these methods in-store payment apps as they allow users to pay for items in the physical store via apps on their mobile phones. PayPal Beacon and Apple’s iBeacon are paving the way. Consumers find these options as a safer and quicker than waiting in line at the store.
As internet allows users to be available on different Social Media platforms, these platforms are also enabling payment options. For example, SnapChat has released SnapCash that lets users exchange cash from one account holder to another instantly. Pinterest is utilizing “Action buttons” within their platform and allow users to add items to their Amazon Wish List or to complete a purchase directly from within the Pinterest site. AI devices, such as an Amazon Echo or Google Home also are expected to allow users to complete payments in future, thus making these devices digital payment enablers.
Asia-Pacific to Show the Highest Growth Rate
In 2017, China is the largest global digital payments market due to its high online shopping volume. The APAC region is expected to display the highest growth rate owing to increasing adoption of internet and rising e-commerce in several countries, like India, Indonesia. Moreover, the Indian government’s strategic plan of making India a cashless economy is offering new opportunities for small players to enable digital payment services.
Key Developments in Market:
November 2017: PayPal is keen on tapping the local market of India by launching a domestic payments option. This strategy of PayPal is expected to increase the competition among the active players, such as Paytm, WhatsApp, and Google’s Tez, which works on the government stipulated unified payments interface (UPI) standard
Major Players – MasterCard, Visa, PayPal, Amazon, Google, amongst others.
Reasons to purchase report:
Analyzing the advancements in the digital payments market are changing market scenario
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
Identifying the type of service and end-user is expected to dominate the market
Identifying the regions that are expected to witness the fastest growth during the forecast period
Identifying the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
Report customization and benefits:
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Regional Market Analysis:
The Digital Payments Market report includes Global and Regional market status and outlook 2022-2027. Further, the report provides break down details about each region and countries covered in the report. Identifying its sales, sales volume and revenue forecast
Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East and Africa
Global Digital Payments Market 2022-2027, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Points to be Covered in this report
The Report Covers the Present Scenario and the Growth Prospects of the Global Digital Payments Market for 2022-2027. To calculate the market size, the report considers new installations or sales and subscription payments of Digital Payments.
The scope of the Report: This report centers around Digital Payments in the worldwide market, particularly in Top countries. This report segments the market on the basis of manufacturers, types, and applications.
Digital Payments Market Trends
- Growing research activities coupled with new product launches.
Digital Payments Market Drivers
- High Opportunity in the Industry
Digital Payments Market Challenges
- Complications associated with Digital Payments procedures.
Points Covered in The Report:
- The points that are discussed within the report are the major Digital Payments market players that are involved in the market such as manufacturers, raw material suppliers, equipment suppliers, end users, traders, distributors etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report.
- The growth factors of the Digital Payments market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by manufacturer, by region, by type, by application and etc., and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the Digital Payments Financing Services market. Finally, the report contains the conclusion
Key Questions the Report Answers:
- What are the major factors affecting the Digital Payments industry in 2022 and beyond?
- Will the Digital Payments sector change its approach to air freight and adopt that seen in the sector?
- How will key trends impact various Digital Payments logistics segments?
- How has Covid-19 impacted Digital Payments market logistics market size? And how has each region been impacted during the course of 2020?
- What impact will a shift to a Circular Economy have on global trade?
- What strategies and technologies are the top Digital Payments manufacturers adopting in response to the challenges faced within the industry?
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Some Major Points from Toc :-
1. Introduction
1.1 Research Phases
1.2 Study Deliverables
1.3 Scope of the Report
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness Porter’s Five Forces Analysis
3.2.5 Degree of Competition
3.3 Price Analysis
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
5. Market Segmentation and Analysis (Market Size, Growth and Forecast)
5.1 By Product Type
5.2 By Application
5.3 By End-user Industry
6. Regional Market Analysis
6.1 Production Analysis
6.1.1 Australia
6.1.2 Bolivia
6.1.3 Brazil
6.1.4 Democratic Republic of Congo
6.1.5 Indonesia
6.1.6 Malaysia
6.1.7 Myanmar
6.1.8 Peru
6.1.9 Russia
6.1.10 Thailand
6.1.11 Vietnam
6.1.12 Others
6.2 Consumption Analysis (Market Size, Growth and Forecast)
6.2.1 Asia-Pacific
6.2.1.1 India
6.2.1.2 China
6.2.1.3 Japan
6.2.1.4 South Korea
6.2.1.5 Rest of Asia-Pacific
6.2.2 North America
6.2.2.1 United States
6.2.2.2 Canada
6.2.2.3 Mexico
6.2.2.4 Rest of North America
6.2.3 Europe
6.2.3.1 Germany
6.2.3.2 United Kingdom
6.2.3.3 France
6.2.3.4 Italy
6.2.3.5 Austria
6.2.3.6 Rest of Europe
6.2.4 South America
6.2.4.1 Brazil
6.2.4.2 Argentina
6.2.4.3 Rest of South America
6.2.5 Middle East and Africa
6.2.5.1 UAE
6.2.5.2 South Africa
6.2.5.3 Rest of Middle East and Africa
7. Future of the Market
8. Competitive Landscape
8.1 Mergers and Acquisitions, Joint Ventures, Collaborations and Agreements
8.2 Market Share Analysis**
8.3 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products and Services, and Recent Developments)
10. Disclaimer
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