Digital Payment Market Overview
Maximize Market Research is a Business Consultancy Firm that has published a detailed analysis of the “Digital Payment Market”. The report includes key business insights, demand analysis, pricing analysis, and competitive landscape. The analysis in the report provides an in-depth aspect at the current status of the Digital Payment market, with forecasts outspreading to the year.
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Market Dynamics for Digital Payment
Initiatives to Promote Digital Payments: Governments across the globe are aggressively pursuing programmes to automate payment procedures as they use ICT technology to improve the Digital Payment Market. The digital payment market is a significant contributor to national economic growth since it has the ability to increase tax revenue, improve productivity, increase transparency, encourage financial inclusion, and provide consumers more options for their money. The Unified Payments Interface (UPI), the Digital India programme, and the creation of the 14444 hotline number are just a few of the measures the Indian government has made to encourage digital payments. These actions have all acted as catalysts for the country's move towards the market.
Digital Payment Market Scope and Methodology:
The research methodology used in the report combines SWOT and descriptive analysis. Conducting a comprehensive analysis of the market Digital Payment is the main objective of the research. A variety of techniques, including surveys and questionnaires, are used in research. The results are then evaluated using numerical, statistical, and mathematical methods. Current market trends are shaped by both qualitative and quantitative methodologies.
Digital Payment Market Classifications
by Component
Solution
Service
In 2023, the on-premise segment held a dominant market share of around 65.0% of worldwide revenue, based on deployment. Businesses that use on-premises digital payment solutions have total control over their apps and systems, which is easily managed by their IT staff. Additionally, businesses use in-house digital payment solutions to safeguard their apps and systems against malicious attacks. For instance, in November 2019, Microsoft and ACI Global announced their alliance. The partnership provided lower long-term capital expenditure and increased security for ACI Worldwide's on-premises customers.
by Deployment
Cloud
On-premise
by Vertical
BFSI
Media & Entertainment
IT & Telecommunication
Hospitality
Healthcare
End-user revenue-wise, the BFSI sector led the market in 2023, accounting for over 23% of worldwide revenue. Remittance expansion to low- and middle-income countries is expected to be one of the main drivers of new market development opportunities over the projection period. Banks are also improving their ability to compete with companies like Google, Amazon, and Facebook that offer digital payment solutions. To make things simpler for its customers, Bank of America, for instance, introduced a digital debit card in June 2019.
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Digital Payment Market Regional Insights
It is essential to comprehend the intricate dynamics of the global Digital Payment business within the context of regional studies. The paper provides a framework for goods commerce between nations and regions. The study provides an international overview of the size and growth rate of the Digital Payment market. In many nations and areas, there is discussion over current business trends. Asia-Pacific, Europe, the Americas, the Middle East, and South Africa.
Digital Payment Market Key Players
North America:
1. Total System Services, Inc.
2. PayPal Holdings Inc
3. ACI Worldwide Inc
4. Dwolla
5. FattMerchant
6. FIS and Fiserv
7. Intuit
8. JPMorgan Chase
9. Square
10. Stripe
11. Visa and Mastercard
Europe:
1. Wirecard AG.
2. Novetti Group Limited
3. Adyen N.V.
4. Aurus
5. Worldline
6. Checkout
Asia Pacific:
1. Lianta Payments
2. Alipay
3. PayU
Global:
1. Apple Pay
2. Paysafe
3. PayTrace
4. Spreedly
5. WEX
Table of content for the Digital Payment Market includes:
Part 01: Executive Summary
Part 02: Scope of the Digital Payment Market Report
Part 03: Digital Payment Market Landscape
Part 04: Digital Payment Market Sizing
Part 05 Digital Payment Market Segmentation by Type
Part 06: Five Forces Analysis
Part 07: Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Drivers and Challenges
Part 11: Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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Key questions answered in the Digital Payment Market are:
- How has the Digital Payment market performed so far and how will it perform in the coming years?
- What is the market segmentation of the global Digital Payment market?
- What is the regional breakup of the global Digital Payment market?
- What are the price trends of various feedstocks in the Digital Payment industry?
- What is the structure of the Digital Payment industry and who are the key players?
- What are the various unit operations involved in a Digital Payment processing plant?
- What is the total size of land required for setting up a Digital Payment processing plant?
- What is the layout of a Digital Payment processing plant?
- What are the machinery requirements for setting up a Digital Payment processing plant?
- What are the raw material requirements for setting up a Digital Payment processing plant?
- What are the packaging requirements for setting up a Digital Payment processing plant?
- What are the transportation requirements for setting up a Digital Payment processing plant?
- What are the utility requirements for setting up a Digital Payment processing plant?
- What are the human resource requirements for setting up a Digital Payment processing plant?
- What are the infrastructure costs for setting up a Digital Payment processing plant?
- What are the capital costs for setting up a Digital Payment processing plant?
- What are the operating costs for setting up a Digital Payment processing plant?
- What should be the pricing mechanism of the final product?
Key Offerings:
- Market Size, Share, Size & Forecast by different segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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