New York, NY -- (SBWIRE) -- 11/16/2018 -- The advent of digitalization in the payment transactions have caught the attention of global industrial ecosystem and it is expected to drastically change the dynamics of the Next Generation Payment Technology Market by creating new participants across mobile network carriers, handset original equipment manufacturer (OEM), terminal and readers' manufacturers, near field communication (NFC) technology enablers, Europa MasterCard Visa (EMV) chip makers and financial institutions among others. All major players from each payment technology aim to record good share of revenues from payment technology products and solutions. Traditional stakeholders such as issuers, payment networks, and acquiring banks will need to focus on maintaining their current share of revenue from card transactions to newer forms of payment transactions such as mobile app and mobile wallet.

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The research report, titled "Global Next Generation Payment Technology Market Report 2023," offers an assessment of this market on the basis of its past as well as the current performance, emphasizing on each of the geographical segments. The predominant driving forces, limitations, restraining factors, key trends, opportunities, and future prospects of the global market have also been taken into consideration in this market study.

The total transaction value through payment transactions from latest payment technology is estimated to grow over $14,000 billion by 2023 at a CAGR of 35.98% through the forecast period. The retail application segment is expected to grow at a CAGR of 36.64% from 2018 to 2023 as the demand for payment technology integrated smartphones, tablets, and wearable devices and demand of terminals, beacons, readers, point-of-sale devices for merchants is increasing.

Major key players are covered in this report: Apple, Samsung, Google, MasterCard, Visa, PayPal, Ingenico, Alipay, Square, Verifone, First Data, Cayan, Adyen, and Worldpay.

The next generation payment technology market is expected to progress at a significant rate since the end customers belong from diversified application portfolio ranging from retail to healthcare. The growth for this market is being driven by factors such as:

- Massive proliferation of smartphones and tablets with payment technology capabilities
- Growing popularity of wearable technology
- Increasing adoption of e-commerce and m-commerce services
The payment technology market is expected to grow in the coming future due to its convenience, cost effectiveness, durability, portability and reliability.

However, the payment technology market consists of certain negative challenges which are inhibiting the overall growth for this market:

- Cost of deployment of emerging payment technology
- Integration of payment technology
- Misuse of stored data/privacy breach
The payment technology market consists of certain opportunities which can lead to augmentation of the payment technology market and its overall growth:

- Future in e-commerce
- Global adoption of digitalization services
The payment technology market consists of certain market restraints which may stagnate the payment technology and hinder the overall growth for this market:

- Pressure of big players
- Lack of innovative business models
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The report analyzes the entire demand and supply chain in the Global Next Generation Payment Technology Market and studies the various components. The impact of Porter's five forces on the growth of the market has been also analyzed in the report. Referring to case studies, the report traces the historical development of the market. The demand for each of the product types has been assessed in the report.

The report profiles leading players within the global Next Generation Payment Technology market for the purpose of study. The business and financial overview of the companies are given in the report. Information on their recent developments and accomplishments is also included in this report. The expansion strategies adopted by leading players in the market are also revealed in the report. Growth and expansion strategies as well as business strategies to make more profits have also been disclosed.

Table of Contents (TOC)

Global Next Generation Payment Technology Market Research Report Forecast 2023

Chapter 1:- Next Generation Payment Technology Market Overview

Chapter 2:- Economic Impact on Industry

Chapter 3:- Production, Business Opportunities with Potential Analysis

Chapter 4:- Rising Trends and New Technologies with key players

Chapter 5:- Manufacturing Cost Analysis

Chapter 6:- Technology Progress, Development Process and Downstream Buyers

Chapter 7:- Marketing Strategy Analysis, Distributors/Traders

Chapter 8:- Market Share by Key Countries in These Regions

Chapter 9:- Show the Market by Type and Application, With Sales Market Share and Growth Rate

Chapter 10:- Appendix and Data Source

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