USD 20.8 billion
Payment Gateway Market Size, Share, Growth Analysis, By Type (Hosted, Non-Hosted), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By End-User (BFSI, Media & Entertainment, Retail & Ecommerce), By Region - Industry Forecast 2024-2031
Report ID:
SQSG45E2040 |
Region:
Global |
Published Date: November, 2024
Pages:
165
|Tables:
90
|Figures:
76
Payment Gateway Market Insights
Payment Gateway Market size was valued at USD 20.8 billion in 2022 and is poised to grow from USD 26.79 billion in 2023 to USD 133.21 billion by 2031, growing at a CAGR of 22.2% in the forecast period (2024-2031).
The market expansion can be ascribed to the rising global demand for mobile-based payments. Other important aspects that are projected to help to the growth of the payment gateway market include increasing e-commerce sales and increasing internet penetration internationally. Additionally, it is anticipated that the market would develop in the coming years due to the shift in merchant and client preferences toward digital channels for permitting online money transfers.
Payment gateways that offer secure internet transactions and aid in preventing credit or debit card scams and other fraudulent activities are becoming more and more in demand from businesses. Reliable payment gateways encrypt sensitive data to guarantee that it is delivered securely from the consumer to the issuing bank, including bank account information and debit or credit numbers. Additionally, they spare customers from having to cope with the inconveniences of shopping in actual stores and standing in long lines. Online transactions may be efficiently completed by customers, giving them a smooth purchasing experience.
US Payment Gateway Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hosted
Fastest Growth
Hosted
Growth Rate
22.2%CAGR
Global Payment Gateway Market ($ Bn)
Country Share for North America Region (%)
Country Share for Aisa Pacific Region (%)
To get more reports on the above market click here to Buy The Report
Payment Gateway Market Segmental Analysis
Global Payment Gateway Market is segmented by Type, by Enterprise Size, by End User and by Region. Based on Type, the market is segmented into Hosted, Non-Hosted, Local bank integrated. Based on Enterprise Size, the market is segmented into Large Enterprises, Small & Medium Enterprises. Based on End User, the market is segmented into BFSI, Media & Entertainment, Retail & Ecommerce, Travel & Hospitality, Healthcare, Energy & utilities, IT & telecom, Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & and Africa.
Payment Gateway Market Analysis by Type
In 2021, the hosted segment led the industry and generated more than 57% of total revenue. Due to elements like simple payment setup processes and decreased merchant liability, the demand for hosted payment gateways is rising among retailers. These elements guarantee that third-party payment service providers will manage the entire transaction process and offer improved security and data protection. Hosted payment gateways also enable businesses to cut down on fraud and concentrate on their core services. Hosted gateways are also a safer choice for payment processing because they adhere to the Payment Card Industry Data Security Standard (PCI DSS).
Over the projection period, the non-hosted segment is predicted to experience substantial expansion. As businesses can maintain control over the entire checkout process, including the layout and design process, while offering customers a smooth purchasing experience, many merchants around the world prefer a non-hosted payment gateway for their website. Merchants can allow customers to complete payments by directly entering their debit or credit card details on the checkout page using APIs. Additionally, any device can use APIs to combine non-hosted gateways with online payment systems, opening up new growth prospects for the market during the course of the forecast period.
Payment Gateway Market Analysis by Enterprise Size
In 2021, the large enterprise market category held the largest share of the market, accounting for more than 56% of global revenue. Due to the larger website traffic that large businesses typically experience, they must implement efficient checkout solutions for their clients. By supporting several digital payment methods like net banking and credit or debit cards, payment gateway systems may guarantee a simple checkout process for clients. These businesses also need a very safe and secure method of transaction, which is made possible by payment gateways. Sensitive consumer and merchant data is protected by trustworthy payment gateways using industry-standard encryption.
Global Payment Gateway Market By Type
To get detailed analysis on other segments, Request For Free Sample Report
Payment Gateway Market Regional Insights
In 2021, North America dominated the market and generated more than 36% of worldwide sales. Technology developments and the use of payment gateways in booming end-use areas like retail and e-commerce are responsible for the increase. The market expansion in the area is also being fueled by the presence of well-known firms like Square, PayPal Holdings Inc., Mastercard, BluePay, and Amazon Payments Inc. Oberlo predicted that sales in the U.S. retail industry will increase by 2.3% in 2021 and by 4.1% in 2022.
Over the course of the projected period, Asia Pacific is expected to become the region with the quickest rate of growth. Government measures to upgrade the online payment infrastructure in Asia Pacific nations are to blame for the increase. To make effective digital payments possible, the Reserve Bank of India (RBI) in India has regulated gateways including Bharat Bill Pay, Paytm, and Mobikwik. The Chinese government is concentrating on expanding rural internet connection in order to spur market expansion.
Global Payment Gateway Market By Region
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Payment Gateway Market Dynamics
Payment Gateway Market Driver
- It is anticipated that increasing e-commerce sales and faster internet will foster the expansion of the payment gateway sector. Modern payments, smartphone transactions, and a growth in online credit card payments have caused retail to depart from conventional business structures. Retailers are working to create cutting-edge mobile payment solutions, manage risk, and provide excellent customer experience both online and offline. Although certain aspects of this evolution will occur spontaneously, there will be many possibilities for many parties to influence the final product.
Payment Gateway Market Restraint
- A barrier to internet access in poorer nations is the lack of infrastructure and the unfavorable regulatory environment. Despite the widespread use of the internet and mobile devices in nations like India, not everyone has constant and seamless connectivity. Digital payments are very connection-dependent, but it is still quite difficult to secure and maintain dependable internet access in underdeveloped nations.
Request Free Customization of this report to help us to meet your business objectives.
Payment Gateway Market Competitive Landscape
The market for online payment gateways is undergoing an increase in strategic activities, including partnerships, growth, mergers and acquisitions, and the incorporation of cutting-edge technologies. Industry leaders invest strategically in advancing R&D efforts and supporting their expansion goals.
Payment Gateway Market Top Players Company Profiles
- PayPal Holdings, Inc.
- Stripe
- Adyen N.V.
- Square, Inc.
- Wirecard AG
- Global Payments, Inc.
- CCBill, LLC
- PayU Group
- Skrill Limited
- Ingenico Group
- BlueSnap Inc.
- 2Checkout.com, Inc.
- Worldpay, LLC
- Authorize.Net Corporation
- Alipay.com Co. Ltd.
- Fiserv, Inc.
- Payline Data Services LLC
- GoCardless Ltd.
- First Data Corporation
- Braintree Payment Solutions LLC
Payment Gateway Market Recent Developments
- In May 2022, A Blockchain payment gateway was built by MooPay, a user-friendly cryptocurrency payment platform, to democratize cryptocurrency payments. As a result of an increase in cyberattacks on cryptocurrency exchanges around the world, non-custodial wallets are becoming more popular among cryptocurrency users.
Payment Gateway Key Market Trends
- The market under investigation is evolving along with consumer trends. A few trends affecting the retail industry are the cashless economy, mobile banking, fast payments, digital commerce, and the expanding influence of regulatory bodies. Customers benefit from shorter lines, the removal of cash-on-hand issues, and faster moving queues when making payments online. This simplifies the payment process and makes it more convenient for customers.
Payment Gateway Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the global payment gateway market is segmented based on type, enterprise size, end-user and regions. Evidently, businesses throughout the world are quickly integrating mobile payment services like PayPal, Samsung Pay, Apple Pay, AliPay, and WeChat Pay into their payment processes. Furthermore, this tendency is anticipated to persist during the projection period due to changing lifestyles, everyday commerce, and the quick expansion of internet retailing. Over the course of the forecast period, the payment gateway market is anticipated to be driven by the booming demand for online commerce around the world.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 20.8 billion |
| Market size value in 2031 | USD 133.21 billion |
| Growth Rate | 22.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Payment Gateway Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Payment Gateway Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Payment Gateway Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Payment Gateway Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Payment Gateway Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Payment Gateway Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
