Report ID: SQMIG45F2113
Report ID:
SQMIG45F2113 |
Region:
Global |
Published Date: June, 2024
Pages:
165
|
Tables:
63 |
Figures:
75
Buy Now Pay Later Market size was valued at USD 32.03 Billion in 2023 and is poised to grow from USD 37.99 Billion in 2024 to USD 145.61 Billion by 2032, growing at a CAGR of 18.6% during the forecast period (2025-2032).
As the name suggests, buy now pay later is a service that lets people purchase products or pay for services later in interest-free installments. Rapidly evolving consumer preferences and growing use of installment-based payment plans are primary factors driving buy now pay later market growth. Rapid growth of the e-commerce industry and rising popularity of online sales channels have created an opportune setting for buy now pay later companies. Growing demand for flexible payment options and rising emphasis on improving financial inclusivity are also estimated to favor buy now pay later demand going forward. However, rising consumer debt levels, lack of consumer awareness, and intense competition are some key factors that slow down buy now pay later adoption.
US Buy Now Pay Later Market is poised to grow at a sustainable CAGR for the next forecast year.
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Report ID: SQMIG45F2113