Payment Gateways Market Share, Size, Growth, Opportunity and Forecast 2022-2027
The global payment gateway market is driven by the increasing number of internet users and the growing preference for contactless payments.
SHERIDAN, WYOMING, USA, September 9, 2022 /EINPresswire.com/ — According to the latest report published by the IMARC group, titled “Payment gateway market shareSize, Growth, Opportunity and Forecast 2022-2027,” that the global payment gateway market size reached US$21.5 billion in 2021. Looking ahead, IMARC Group expects the market to reach US$32.4 billion by 2027, growing at a CAGR of 7% during 2022-2027.
Year considered to estimate the market size:
Base year of analysis: 2021
Historical period: 2016-2021
Forecast period: 2022-2027
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Payment gateways are technology solutions offering digital payment services, which act as an interface between payment portals and acquiring banks. They can prevent fraud by providing device identification, address verification system (AVS) and card verification value (CVV). As they also offer a user-friendly interface and help in expense and loss management and time efficiency, payment gateways are gaining traction around the world to improve users’ payment experience.
Impact of Covid-19:
We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Payment gateway market trends:
One of the major factors positively influencing the demand for payment gateways globally is the growing adoption of cashless transactions due to rapid digitization and increasing sales of smartphones and high-speed internet connectivity. Additionally, banks in many countries are offering cashback and coupons to small and medium merchants to encourage digital transactions, which is helping the market grow. Apart from this, considerable reliance on online applications for ordering food and booking plane, bus or train tickets, and shopping offers lucrative growth opportunities for major players operating in the industry.
The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of key players operating in the industry.
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Global Payment Gateways Market Report Coverage and Industry Segmentation:
The report covers the key market segments below:
Segmentation by applications:
Micro and small enterprises
Segmentation by mode of interaction:
Hosted payment gateways
Pro/self-hosted payment gateways
APIs/non-hosted payment gateways
Integrate local bank
Direct payment gateways
Platform based payment gateways
Middle East and Africa
Main highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022-2027)
Market drivers and success factors
Impact of COVID-19
Value chain analysis
Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we will provide it to you as part of the customization.
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