The Payment As A Service Global Market Report 2023, provides comprehensive information on the payment as a service market across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Payment As A Service Global Market Report 2023, the market size is expected to grow from $11.40 billion in 2022 to $13.83 billion in 2023 at a compound annual growth rate (CAGR) of 21.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The payment as a service market is expected to grow to $29.79 billion in 2027 at a CAGR of 21.2%.
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The payment as a service market is segmented:
1) By Service: Professional Services, Managed Services
2) By Component: Platform, Services
3) By Vertical: Retail, Hospitality, Media and entertainment, Healthcare, Banking, Financial Services, and Insurance (BFSI), Other Verticals
North America was the largest region in the payment as a service market in 2022.
The table of contents in TBRC’s payment as a service market report includes:
1. Executive Summary
2. Payment As A Service Market Characteristics
3. Payment As A Service Market Trends And Strategies
4. Payment As A Service Market - Macro Economic Scenario
5. Payment As A Service Market Size And Growth
….........
26. Africa Payment As A Service Market
27. Payment As A Service Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Payment As A Service Market
29. Payment As A Service Market Future Outlook and Potential Analysis
30. Appendix
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Payment as a Service Market Overview The Global Payment as a Service Market was valued at USD 4.27 billion in 2018 and is estimated to reach USD 14.37 Billion by 2024 growing at a CAGR of 23.20% during the forecast period 2019–2024.Payment as a Service Market Key PlayersThe payment as a service market is expected to be a growing market in the coming years owing to the presence of numerous large players active in the regional market.
First Data Corporation, Total System Services (TSYS), Paysafe Group Ltd, Verifone, Ingenico, Aurus, Inc., Pineapple Payments, ePay, BlueSnap, Inc., PayU, Alpha Fintech, Google, Stripe, Braintree, Amazon, Skrill, Zoho Checkout, BitPay, Authorize.net, WePay, and First American Payment Systems are the companies leading the payment as a service market globally.Payment as a Service Market SementationMarket Research Future (MRFR) has segmented the payment as a service market on the basis of component, vertical, and region.By component, the payment as a service market has been segmented into platform and service.
Among these, currently, payment platforms are dominating the market due to increasing adoption of digital payment methods by consumers worldwide.
PayPal, PayU, Stripe, Braintree, BlueSnap, and Zoho Checkout among others are some popular payment gateway providers globally.Get Free Sample Copy at: https://www.marketresearchfuture.com/sample_request/8020Government support for digital transformation is one of the prime factors for the significant growth of payment platforms.
Whereas, the service segment comprise professional and managed services, are projected to witness high growth rate in the coming years.
Among these, BFSI is currently dominating the market due to high demand for secured real-time payment gateways by end-users.
According to research report "Payment as a Service Market by Component (Platform and Services), Service (Professional (Integration & Deployment and Support & Maintenance) and Managed Services), Vertical (Retail and Hospitality), and Region - Global Forecast to 2024", The payment as a service market size is expected to grow from USD 5.7 billion in 2019 to USD 16.7 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 23.9% during the forecast period.
Regulatory initiatives to promote payment solutions thriving on secure and real-time transactions; and optimized customer/merchant experience with quick and secure payment methods are the major factors driving the growth of the payment as a service market.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=184731594Browse 47 market data Tables and 43 Figures spread through 119 Pages and in-depth TOC on "Payment as a Service Market - Global Forecast to 2024"The services segment of payment as a service to grow at the highest growth rate during the forecast periodPayment services help consult, integrate, and support organizations across various verticals, to effectively deal with payment processing with various payment methods and thereby ensure security across the enterprise payment ecosystem.
Security is a crucial aspect for executing payment transactions successfully, and hence, professional and managed payment services are gaining traction in the security space and are used according to the specific needs of enterprise merchants.
It has become challenging for companies to focus on their core business processes and simultaneously support various other functions, which, in turn, increases the significance of managed services.
Managed services help merchants reduce infrastructure complexity and operational cost, and simultaneously provide a secure and global infrastructure.Europe to grow at a significant CAGR during the forecast periodThe European region comprises various countries that are economically stable and technologically advanced.
The growth of payment as a service market in Europe can also be attributed to the implementation of omni-channel payment mode by most retailers, merchants, and enterprises.
