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ePayment System Market is Likely to be Valued at US$ 456.6 Bn and Growing at a CAGR of 17.7% by the end of 2031

The worldwide ePayment system market is supposed to extend at a CAGR of 17.7% over the figure period (2021-2031). The development can be credited to the developing interest for ongoing installments combined with expanding web infiltration across different nations. According to the most recent Future Market Insights (FMI) study, the market valuation is supposed to outperform roughly US$ 89.2 Bn in 2021.

The installments scene has experienced important change in the new years. Progressions in innovation have prompted significant changes with installments turning out to be quicker, simpler and more helpful. The worldwide ePayment system market is assessed to be driven by specialized progressions in the product business, and the development of online business in created and emerging countries.

The reception of ePayment systems is developing quickly, and, sooner rather than later, it will set out possible open doors for ePayment arrangement and specialist co-ops. Buyers across districts like Europe and North America, and a few nations in East Asia and South Asia and Pacific, are utilizing different computerized installment techniques.

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Furthermore, increasing Internet banking and Internet shopping have significantly pushed the use of ePayment system across the globe.  The market for ePayment systems has shown significant growth over the last few years due to the increasing adoption of advanced technologies. With advancements in technology, there has been a rise in the demand for ePayment systems.

Key Takeaways from ePayment System Market Study

  • Based on deployment, the cloud segment is expected to dominate the market through 2031, owing to the rising popularity of cloud computing and analytics.
  • Based on enterprise size, the large enterprises segment is expected to dominate the market through 2031 owing to the growing need to digitize their payment landscape.
  • The BFSI segment is expected to hold the largest share in the global ePayment system market in 2021, based on industry.
  • China will continue leading the East Asia market, registering a CAGR of over 18.9% through 2031.
  • The U.S. market is projected to expand at a CAGR of 18.2% through 2031, owing to the due to early adoption of upcoming technologies and presence of established and upcoming payment technology providers in the country.
  • The UK is anticipated to hold the lead in Europe, exhibiting a CAGR of 18.5% through 2031.

Who is winning?

The moderately consolidated ePayment system market is characterized by players who are increasingly focusing on the development of new product offerings in addition to strategic endeavors towards geographical expansion.

Prominent players in the ePayment system market include but are not limited to ACI Worldwide, Aliant Payments, Alipay, Apple Pay, FIS, Fiserv, Global Payments, Intuit, JPMorgan Chase, Mastercard, PayPal, Paysafe, PayTrace, PayU, Spreedly, Square, Stripe, Visa, Worldline, and 2Checkout, among others.

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More Valuable Insights on ePayment System Market

A revised market research report published by Future Market Insights (FMI) on the global ePayment System market includes global industry analysis for 2016–2020 and opportunity assessment for 2021–2031.The report provides valuable insights on the basis of component solution (payment gateway solution, payment processing solution, payment wallet solution, payment security and fraud management solution, and point of sale (POS) solution); and services (professional services, and managed services); deployment(cloud and on-premises); enterprise size (small & medium enterprises (SMEs) and large enterprises); and Industry (BFSI, retail and eCommerce, healthcare, media & entertainment, IT & telecom, transportation & logistics, and others), and across six major regions.

What Is the Impact of COVID-19 Crisis on ePayment System Growth?

COVID-19 has impacted every sector. Due to social distancing norms implemented to contain the spread of the virus, organizations are transforming towards digitalization to ensure overall safety employees and staffs.

The COVID-19 outbreak has disrupted many industries. Different end-use verticals have suffered heavily as a result of mobility and travel restrictions implemented to protect public health against the infection.

The pandemic has compelled companies to rethink how and where the employees work as well as how to control them. This has resulted in increasing reliance on digital services. The pandemic also has reinforced the trend of digital payments and mCommerce, across payment types and demographics.

Owing to this, there has been rise in demand for ePayment solutions and services across different industry verticals. Driven by this the ePayment system market is estimated to witness a growth from around 12.5% to 14.6% Y-o-Y from 2019 to 2021.

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ePayment System Outlook by Category

By Component, ePayment System Demand is segmented as:

  • Solution
  • Services

By Deployment, ePayment System Demand is segmented as:

  • Cloud
  • On-premises

By Enterprise Size, ePayment System Demand is segmented as:

  • Small & Medium Enterprises (SMES)
  • Large Enterprises

By Industry, ePayment System Demand is segmented as:

  • BFSI
  • Retail
  • Healthcare
  • Media & Entertainment
  • IT & Telecom
  • Transportation & Logistics
  • Others

By Region, ePayment System Sales is segmented as:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Table of Content

  1. Executive Summary

1.1. Global Market Outlook

1.2. Demand Side Trends

1.3. Supply Side Trends

1.4. Analysis and Recommendations

  1. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

  1. Key Market Trends

3.1. Key Trends Impacting the Market

3.2. Payment Technology Innovation / Development Trends

3.3. Key Success Factors

To Continue TOC…

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About Us

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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The post ePayment System Market is Likely to be Valued at US$ 456.6 Bn and Growing at a CAGR of 17.7% by the end of 2031 appeared first on Future Market Insights.

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