Digital Payments Market Size Is Hit US$ 256.64 Bn Forecast by 2028 : Rising Adoption of Online Payments Systems Across the Globe

Pune, Maharashtra -- (SBWire) -- 10/11/2022 --The adoption of mobile wallets is fueled by the increased use of real-time payments in the country. E-commerce service providers are making efforts to strengthen their competitive positions by moving from traditional credit card and consumer finance solutions toward customer engagement solutions that leverage digital payments. Retail companies are also making efforts to expand their offerings in the digital payment space by deploying their point-of-sale systems to handle online and in-store transactions. In response, banks are improving their digital payment offerings to preserve their market positions. Governments across the world are increasing the limits of contactless payment cards, creating new growth opportunities for market expansion.

"According to SNS Insider, Digital Payments Market Size was Stimulated at US$ 65.32 Bn in 2021 and expected to react over US$ 256.64 Bn by 2028 with growing CAGR of 21.56% over the forecast period 2022-2028."

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Major Company Profiles included in Digital Payments Market are:

- Aurus Inc.
- PayPal Holdings Inc.
- WEX Inc.
- Total System Services Inc.
- Paysafe Holdings U.K. Limited
- Global Payments Inc.
- YapStone Inc.
- Novatti Group Limited
- Financial Software & Systems Pvt. Ltd.
- Fiserv Inc.

The research examines market dynamics from both the demand and supply sides, as well as key aspects such as drivers, restraints, opportunities, and future trends that will influence the market in the future. A complete PEST analysis for each of the important locations is also included in the study. The research examines and forecasts major countries throughout the world, as well as current trends and prospective future prospects in the region. In the study report, which includes both qualitative and quantitative data, the market is thoroughly evaluated. It includes a global market overview as well as forecasts for key areas. Each region's Digital Payments market is then segmented into countries and sectors.

Acquisitions, partnerships, and collaborations were among the market's inorganic growth strategies. As a result of these activities, Digital Payments market participants have been able to increase their clientele and earnings. This research looks at market trends as well as organic and inorganic growth methods. Due to rising demand in the global sector, market participants are expected to benefit from good growth opportunities in the future. A number of businesses are prioritizing new product launches, as well as other organic growth strategies such as patents and events.

Digital Payments Market Segmentation 2022

The research includes critical information on the market positioning of significant companies, as well as key industry trends and prospects. This information will be crucial in assisting market participants in identifying appealing market segments. The goal of this study is to break down the Digital Payments market into product types, applications, end users, and geographic segments.

Major Segments and Sub-Segment of Digital Payments Market are Listed Below:

On The Basis of Component

Solutions
- Payment Gateway Solutions
- Payment Processing Solutions
- Payment Wallet Solutions
- Payment Security and Fraud Management Solutions
- Point of Sale (POS) Solutions

Services
- Professional Services
- Consulting
- Implementation
- Support and Maintenance
- Managed Services

On The Basis of Mode of Payment
- Bank Cards
- Digital Currencies
- Digital Wallets
- Net Banking
- Point of Sales
- Others

On The Basis of Deployment Type
- On-premises
- Cloud

On The Basis of Organization Size
- Small and Medium-sized Enterprises
- Large Enterprises

On The Basis of Vertical
- Banking, Financial Services, And Insurance
- Retail and Ecommerce
- Healthcare
- Travel and Hospitality
- Transportation and Logistics
- Media and Entertainment
- Other Verticals

COVID-19 Impact Analysis on Digital Payments Industry

The impact of COVID-19 on the Digital Payments market is assessed in this revised study, which also includes insights, analyses, estimations, and projections. Participants in the market can utilize the information gathered to identify market gaps as well as rival strengths and weaknesses, allowing them to improve their product and service. Changes in consumer behavior and demand, purchasing patterns, supply chain rerouting, market dynamics, and government engagement are all investigated in COVID-19.

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In this study, the years considered to estimate the market size of Digital Payments are as follows:
- History Year: 2016-2020
- Base Year: 2021
- Estimated Year: 2022
- Forecast Year 2022 to 2028

Regional Analysis Covered in this report:
- North America [United States, Canada]
- Europe [Germany, France, U.K., Italy, Russia]
- Asia-Pacific [China, Japan, South Korea, India, Australia, China Taiwan, Indonesia, Thailand, Malaysia]
- Latin America [Mexico, Brazil, Argentina]
- Middle East & Africa [Turkey, Saudi Arabia, UAE]

Competitive Outlook of Digital Payments Industry 2022

The competitive environment examines the various corporate growth strategies employed by major market players. To preserve their market positions, market organizations use strategies such as mergers, acquisitions, and market activities. Company biographies, SWOT analyses, and market strategies for key players in the Digital Payments market are also included in the study. The research also includes corporate biographies, components and services offered, financial data, and current developments for important industry participants.

The Digital Payments market study is based on firsthand experience, industry analysts' qualitative and quantitative analysis, and input from market experts and value chain key players. On a segment-by-segment basis, the study examines parent industry trends, micro and macroeconomic indicators, controlling variables, and market attractiveness. The research also demonstrates how a range of market parameters have a qualitative impact on market segmentation and geography.

Frequently Asked Questions:

- What is the current size of the power rental market?
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- Which region dominates during the forecasted period in the power rental market?
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Table of Contents – Major Key Points

1. Introduction

2. Research Methodology

3. Market Dynamics

4. Impact Analysis

5. Value Chain Analysis

6. Porter's 5 Forces Model

7. PEST Analysis

8. Digital Payments Market Segmentation, By Component

9. Digital Payments Market Segmentation, By Payment

10. Digital Payments Market Segmentation, By Deployment Type

11. Digital Payments Market Segmentation, By Organization Size

12. Digital Payments Market Segmentation, By Vertical

13. Regional Analysis

14. Company Profiles

15. Competitive Landscape

16. Conclusion

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