Global Online Payment Gateway Market
Market Overview
The global Online Payment Gateway Market is estimated to generate USD 124.64 Billion during the forecast period. Further, the worldwide market is expected to grow at a 12.8% CAGR during the research period of 2018 to 2023.
Global Online Payment Gateway Market is predicted to touch USD 193.27 Billion at a 10.18% CAGR between 2020 to 2030, reveals the latest Market Research Future’s (MRFR) online payment gateway market forecast report. Te research provides a detailed analysis of global Online Payment Gateway market size, regional and country-level market size, segmentation market growth, market share
The increasing secure online payment gateway demand worldwide is driving the global Online Payment Gateway Market growth. Moreover, the market is thriving because of the rising online transaction in various sectors. For instance, emerging technologies like IoT and AI are generating demands among the customers, boosting the worldwide market growth in the forecast period.
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Furthermore, the Online Payment Gateway Market is providing lucrative opportunities to the vendors and the market players in the further coming years due to the growing advancements in billing methods such as the emergence of cashless transactions, token systems, and cash pooling. However, the current market might experience market restraints because of the security concern related to online transactions.
Market Segmentation
According to the Online Payment Gateway Market report, the market has been segmented based on application and type.
On the basis of application segment, the current market has been classified into the mid-size enterprise, micro and small enterprise, and large enterprise. Out of all, the micro and small enterprise segment is leading the global market throughout the assessment period. This segment growth is dependent on the rising online shopping with 24/7 services by small enterprises that offers convenience, an attractive discount and easy access.
The Online Payment Gateway industry has been segregated based on different types such as platform-based payment gateway solutions, local bank integrates, and pro/self-hosted payment gateways. Among these, the platform-based payment gateway solutions are projected to dominate the global market during the review timeframe. This segment growth depends upon the increasing e-commerce industry and e-commerce industry.
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Regional Analysis
The global Online Payment Gateway Market has been segregated into different locations like the Asia Pacific, North America, Europe, and other countries based on the regional location.
Out of all-region, the North American market is estimated to lead the global market share during the analysis period. This regional market growth depends upon the rise in online transactions because of the rising dependence on electronic billing, growing use of online business platforms, the growing dependence of consumers for online shopping, wide applications in various end-use segments, growing inclination of consumers for e-commerce, technological advances, the widespread utility of credit cards, debit cards, and e-commerce, and rising demands for online payment gateway services.
Apart from that, the second-largest market share has been projected to hold by the European market for the forecast timeframe. This region is fuelling the online payment gateway industry due to the presence of well-established players in the region who are providing technological advances and the best online payment gateway services to potential audiences.
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Industry News
In December 2020, the Indian leading online payments services provider PayU did the partnership with the prominent market player Google Pay. This partnership has proposed to introduce tokenized payments flow for the merchants.
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Table Of Content
1 Executive Summary
1.1 Prologue 14
2 Market Introduction
2.1 Definition 16
2.2 Scope Of The Study 16
2.3 List Of Assumptions 16
2.4 Market Structure 17
3 Research Methodology
3.1 Research Process 19
3.2 Primary Research 20
3.3 Secondary Research 21
3.4 Market Size Estimation 22
3.5 Forecast Model 22
4 Market Dynamics
Continued...
5 Market Factor Analysis
Continued...
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