Uploaded on Apr 21, 2020
The global online payment gateway market is anticipated to expand at a 12.8% CAGR from 2018 to 2023
Online Payment Gateway Market Share
Market Highlights The convenience factor of online payments is estimated to benefit the overall growth of the online payment gateway market 2020. The information & communication technology industry reports produced by Market Research Future, which highlights market options for expansion. A USD 124.64 billion income with the aid of the CAGR of 12.8% is predicted for the market in the forecast period. The accessibility to the internet and the availability of devices such as smartphones and laptops are estimated to guide the market in the forecast period. The diversity in financial transaction options is estimated to motivate the online payment gateway market in the impending period. Segmentation: The segmental investigation of the online payment gateway market is conducted on the basis of types, applications, and regions. Based on the type, the online payment gateway market comprises of local bank integrates, pro/self-hosted payment gateways, platform-based gateway solutions, and others. On the basis of application, the online payment gateway market consists of mid-size enterprises, micro & small enterprises, and large enterprises. Based on the region, the online payment gateway market consists of Asia Pacific (APAC), North America, Europe, and the rest of the regions. Detailed Regional Analysis The regional assessment of the online payment gateway market share consists of Asia Pacific (APAC), North America, Europe, and the rest of the regions. The dominating region in the online payment gateway market is North America, which is trailed by Europe and the Asia Pacific. The growing number of transactions on e-commerce platforms employing digital payment methods such as debit cards, credit cards, and m-commerce is motivating the market development in the region. The development of the market is also due to increased digitization in countries such as the United States and Canada. The U.S. is among the most advanced economies in the North American region and adds significantly to the augmentation of the online payment gateway market. The European region has controlled the subsequent largest market stake due to the incidence of international players and speedy development in the field of technology, sustaining the market augmentation in the region. The region in APAC is predicted to observe extraordinary market growth as well, due to the development of micro and small enterprises along with an escalating number of customers using online shopping in the up-and-coming economies. Competitive Analysis The market is expected to record a stable growth rate in the coming years. The market competitors are expected to play a key role in the development of the global market. The development of adequate sources of raw material is predicted to transform the market in the upcoming period further. The availability of strong government support and the presence of encouraging policies is expected to enliven the growth prospects in the approaching period. The incidence of options that can be favorably capitalized on is aiding the market players in improving their overall position in the market. The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The competition in the market is manageable, which is inducing the entry of new players in the global market. The upgrades in production methods are estimated to transform the potential of the market in the forecast period. The outstanding contenders in the online payment gateway market are Adyen NV (Netherlands), Amazon.com, Inc. (U.S.), First Data Corp. (U.S.), CASHU (UAE), Stripe (U.S.), Tencent Holdings Ltd. (China), Worldpay, Inc. (U.S.), Global Payments, Inc. (US), GMO Payment Gateway, Inc. (Japan), Verizon Communications, Inc. (U.S.), Alibaba Group Holding Ltd. (China), 2Checkout.com, Inc. (U.S.), Visa, Inc. (U.S.), CCBill, LLC (U.S.), PayPal Holdings, Inc. (U.S.), Naspers Ltd. (South Africa), SecurePay Pty Ltd. (Australia), and Wirecard AG (Germany).
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