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Digital Payments Market By Component (Solutions, Services) By Deployment Type (On-premises, Cloud) By Organization Size (Small & Medium-sized Enterprises, Large Enterprises) By (Vertical, Banking, Financial Services, and Insurances, Retail and Ecommerce, Healthcare, Travel and Hospitality, Transportation and Logistics, Media and Entertainment, Other Verticals) – Growth, Share, Opportunities & Competitive Analysis, 2016 – 2028

Name: Digital Payments Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2022-08-04
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Digital Payments Market

Summary
Table Of Content
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What Prominence Influencing Digital Payments Market Growth?

Meaningful payment systems are now more widely used because of digitization. To raise the volume of digital transactions in their various nations, governments worldwide are taking steps to promote digital payments. Additionally, the Digital India Programme aims to give every person access to digital government and digital services to convert India into a society and knowledge economy enabled by technology. The Digital India program’s digital payment ecosystem development is a crucial component that could completely change the Indian economy by offering inclusive financial services.

What is the Market Size of Digital Payments in terms of value?

The global Digital Payments Market is projected to increase at a significant CAGR of 15.10% in the coming years. In 2021, the global Digital Payments market was valued at USD 87.4 Billion and was projected to reach a value of USD 203.2185 Billion by 2028. The demand for Digital Payments is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 115.8185 million during the forecast period between 2022 and 2028.

Interesting Facts about Digital Payments Industry

The study projects revenue growth at the regional, international, and national levels and analyses the most recent market tendencies in each sub-segment from 2022 to 2028.
The biggest exporters of digital payments are the United States, Canada, Germany, the United Kingdom, China, India, Japan, and Brazil.
The expansion of the digital payment market is primarily driven by a rise in the number of e-commerce sectors, advancements in mobile payment technology, greater use of mobile wallets for payment, and the development of safe & secure payment gateways.
Over the predicted period, North America is expected to continue to rule. North America’s largest revenue share was earned, which also dominated the global market.
The e-commerce and retail industries are expected to develop the fastest during the anticipated period. The growing acceptance of mobile-based payment solutions by consumers for retail payments is one of the main factors boosting the segment’s growth.

Who are the leading players/companies in the Digital Payments market regarding value?

According to value, some of the leading companies in the world market for Digital Payments are Fiserv (US), PayPal (US), Global Payments (US), Stripe (US), Mastercard (US), VISA (US), Square (US), Adyen (Netherlands), Temenos (Switzerland), Worldline (France), Stax by FattMerchant (US), PayU (Netherlands), EBANX (Brazil), Apple (US), JPMorgan Chase (US), Aurus (US), 2Checkout now Verifone(US), PayTrace (US), Spreedly (US), Braintree (US), FIS (US), ACI Worldwide (US), WEX (US), FLEETCOR (US), Dwolla (US), Clover(US), OpenWay Group (Belgium). In November 2021, A brand-new cloud-based customer relationship management (CRM) system for financial institutions called EnteractSM has been introduced by Fiserv. Interact’s Microsoft Azure-based integration architecture enables real-time process integration across core banking, enterprise content management, and digital channels. It also synchronizes client information with back-end systems. In September 2021, Virgin Money and Global Payments Inc. announced a contract to use Global Payments’ distinctive two-sided network to give Virgin Money customers market-leading digital payment experiences worldwide.

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Who are the Top leading Countries in the Digital Payments Market?

The leading countries in the Digital Payments market are the United States, Canada, Germany, the United Kingdom, China, India, Japan, and Brazil. One of the biggest markets for real-time payments is the United States. Over the predicted period, the country is anticipated to grow steadily. There are several significant local players in the international market. The increase in cross-border payments expected due to the expanding immigrant population is predicted to boost market expansion in these nations. Other essential variables that fuel the regional market expansion include increased digitization and rapid economic development.

Which is the Key Verticals Area in the Digital Payments Market?

In 2021, the Banking, Financial Services, and Insurances (Banking, Financial Services, and Insurance) category held a commanding market share. Banks are encouraged to embrace digital payment solutions by the increased demand for digital remittances for domestic and international transactions. Additionally, banks are improving their services to compete with companies like Google, Amazon, and Facebook, which offer digital payment options. For instance, to enhance convenience for its customers, Bank of America developed a digital debit card in June 2019.

Over the forecast timeline, it is anticipated that the retail and e-commerce industries will grow the fastest. The primary key driver fueling the segment’s growth is the increasing adoption of mobile-based payment solutions by consumers for retail payments. The market is expanding concurrently with a rise in the number of unmanned retail locations around the world.

What are the Major Growing Factors for Digital Payments Market?

Nations across the world employ ICT to advance their digital economies. A lot of government programs are digitizing the payment process. Adopting digital payments is one of a nation’s primary growth-related imperatives. It can help to increase productivity and economic growth in addition to raising transparency, financial inclusion, tax revenue, and end-user access to new economic opportunities. The government of India has launched various programs to aid in developing digital payments. Programs like Digital India, the Unified Payments Interface (UPI) launch, and the 14444-helpline number all speed up the shift to digital payments. These initiatives promote digitization and educate the public about the advantages of utilizing cutting-edge technology.

The expansion of the digital payment market is primarily driven by an increase in the number of e-commerce sectors, advancements in mobile payment technology, greater use of mobile wallets for payment, and the safe and secure development of payment gateways. Additionally, the demand for businesses to provide better customer experiences and an increase in the marketing of digital payments fuel market expansion.

What are the Major Restraints for Digital Payments Market?

The main factors that are expected to impede the growth of the worldwide market for digital payments include as businesses purchase goods and services internationally, cross-border trade has grown year over year (YoY). Digital payment suppliers cannot take advantage of this potential, however, because there aren’t any universal payment systems that are simple to use, there aren’t any universal standards, and different governments in different nations have various restrictions. The laws governing payments and data storage compliance vary per nation. Cross-border payments are inefficient because of these rules and requirements. Additionally, cross-border payments are not supported by the domestic payment system.

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Which Region Ruled the Global Market for Digital Payments?

Asia-Pacific is expected to dominate the digital payment industry, and India and Japan will acquire more traction throughout the projection period. Comparatively speaking, the adoption of digital wallets and mobile payments is projected to be higher in APAC. Due to their large populations and high smartphone penetration, China and India present the prosperous potential for the digital payment business.

Secondly, North America led the world market during the forecast period and generated the most significant revenue share. The regional market gains from elements including smart parking meters’ expanding adoption and technological advancements. For instance, the facilities service provider EasyPark and the parking solution supplier ParkMobile announced their alliance in July 2020. Thanks to this partnership, the former business offered contactless payment options around Vancouver city. Additionally, the demand for digital payment solutions is being driven by the rise in unmanned storefronts in the United States.

Segmentation of Global Digital Payments Market-

Global Digital Payments Market – By Component

Solutions
Services

Global Digital Payments Market – By Deployment Type

On-premises
Cloud

Global Digital Payments Market – By Organization Size

Small & Medium-sized Enterprises
Large Enterprises

Global Digital Payments Market – By Vertical

Banking, Financial Services, and Insurances
Retail and Ecommerce
Healthcare
Travel and Hospitality
Transportation and Logistics
Media and Entertainment
Other Verticals

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. USP and Key Offerings
1.2. Research Scope
1.3. Research Methodology
1.3.1. Phase I – Secondary Research
1.3.2. Phase II – Primary Research
1.3.3. Phase III – Expert Panel Review
1.3.4. Approach Adopted
1.3.4.1. Top-Down Approach
1.3.4.2. Bottom-Up Approach
1.3.5. Assumptions
1.4. Market Segmentation

2. Executive Summary
2.1. Market Snapshot: Global Digital Payments Market

3. Market Dynamics & Factors Analysis
3.1. Introduction
3.1.1. Global Digital Payments Market Value, 2016-2028, (US$ Bn)
3.2. Market Dynamics
3.2.1. Key Growth Trends
3.2.2. Major Industry Challenges
3.2.3. Key Growth Pockets
3.3. Attractive Investment Proposition,2021
3.3.1. Component
3.3.2. Deployment Type
3.3.3. Organization Size
3.3.4. Vertical
3.3.5. Geography
3.4. Porter’s Five Forces Analysis
3.4.1. Threat of New Entrants
3.4.2. Bargaining Power of Buyers/Consumers
3.4.3. Bargaining Power of Suppliers
3.4.4. Threat of Substitute Types
3.4.5. Intensity of Competitive Rivalry
3.5. Value Chain Analysis

4. Market Positioning of Key Players, 2021
4.1. Company market share of key players, 2021
4.2. Competitive Benchmarking
4.3. Geographical Presence Analysis
4.4. Major Strategies Adopted by Key Players
4.4.1. Key Strategies Analysis
4.4.2. Mergers and Acquisitions
4.4.3. Partnerships
4.4.4. Product Launch
4.4.5. Geographical Expansion
4.4.6. Others

5. COVID 19 Impact Analysis
5.1. Global Digital Payments Market Pre Vs Post COVID 19, 2019 – 2028
5.2. Impact on Import & Export
5.3. Impact on Demand & Supply

6. North America
6.1. North America Digital Payments Market, by Country, 2016-2028(US$ Bn)
6.1.1. U.S.
6.1.2. Canada
6.1.3. Mexico
6.2. North America Digital Payments Market, by Component, 2016-2028(US$ Bn)
6.2.1. Overview
6.2.2. Solutions
6.2.3. Services
6.3. North America Digital Payments Market, by Deployment Type, 2016-2028(US$ Bn)
6.3.1. Overview
6.3.2. On-premises
6.3.3. Cloud
6.4. North America Digital Payments Market, by Organization Size, 2016-2028(US$ Bn)
6.4.1. Overview
6.4.2. Small & Medium-sized Enterprises
6.4.3. Large Enterprises
6.5. North America Digital Payments Market, by Vertical, 2016-2028(US$ Bn)
6.5.1. Overview
6.5.2. Banking, Financial Services, and Insurances
6.5.3. Retail and Ecommerce
6.5.4. Healthcare
6.5.5. Travel and Hospitality
6.5.6. Transportation and Logistics
6.5.7. Media and Entertainment
6.5.8. Others Verticals

7. Europe
7.1. Europe Digital Payments Market, by Country, 2016-2028(US$ Bn)
7.1.1. UK
7.1.2. France
7.1.3. Germany
7.1.4. Italy
7.1.5. Russia
7.1.6. Ukraine
7.1.7. Spain
7.1.8. Belgium
7.1.9. Netherland
7.1.10. Austria
7.1.11. Sweden
7.1.12. Poland
7.1.13. Denmark
7.1.14. Switzerland
7.1.15. Rest of Europe
7.2. Europe Digital Payments Market, by Component, 2016-2028(US$ Bn)
7.2.1. Overview
7.2.2. Solutions
7.2.3. Services
7.3. Europe Digital Payments Market, by Deployment Type, 2016-2028(US$ Bn)
7.3.1. Overview
7.3.2. On-premises
7.3.3. Cloud
7.4. Europe Digital Payments Market, by Organization Size, 2016-2028(US$ Bn)
7.4.1. Overview
7.4.2. Small & Medium-sized Enterprises
7.4.3. Large Enterprises
7.5. Europe Digital Payments Market, by Vertical, 2016-2028(US$ Bn)
7.5.1. Overview
7.5.2. Banking, Financial Services, and Insurances
7.5.3. Retail and Ecommerce
7.5.4. Healthcare
7.5.5. Travel and Hospitality
7.5.6. Transportation and Logistics
7.5.7. Media and Entertainment
7.5.8. Others Verticals

8. Asia Pacific
8.1. Asia Pacific Digital Payments Market, by Country, 2016-2028(US$ Bn)
8.1.1. China
8.1.2. Japan
8.1.3. South Korea
8.1.4. India
8.1.5. Australia
8.1.6. New Zealand
8.1.7. Taiwan
8.1.8. Indonesia
8.1.9. Malaysia
8.1.10. Philippine
8.1.11. Rest of Asia Pacific
8.2. Asia Pacific Digital Payments Market, by Component, 2016-2028(US$ Bn)
8.2.1. Overview
8.2.2. Solutions
8.2.3. Services
8.3. Asia Pacific Digital Payments Market, by Deployment Type, 2016-2028(US$ Bn)
8.3.1. Overview
8.3.2. On-premises
8.3.3. Cloud
8.4. Asia Pacific Digital Payments Market, by Organization Size, 2016-2028(US$ Bn)
8.4.1. Overview
8.4.2. Small & Medium-sized Enterprises
8.4.3. Large Enterprises
8.5. Asia Pacific Digital Payments Market, by Vertical, 2016-2028(US$ Bn)
8.5.1. Overview
8.5.2. Banking, Financial Services, and Insurances
8.5.3. Retail and Ecommerce
8.5.4. Healthcare
8.5.5. Travel and Hospitality
8.5.6. Transportation and Logistics
8.5.7. Media and Entertainment
8.5.8. Others Verticals

9. Latin America

9.1. Latin America Digital Payments Market, by Country, 2016-2028(US$ Bn)
9.1.1. Brazil
9.1.2. Argentina
9.1.3. Peru
9.1.4. Chile
9.1.5. Colombia
9.1.6. Rest of Latin America
9.2. Latin America Digital Payments Market, by Component, 2016-2028(US$ Bn)
9.2.1. Overview
9.2.2. Solutions
9.2.3. Services
9.3. Latin America Digital Payments Market, by Deployment Type, 2016-2028(US$ Bn)
9.3.1. Overview
9.3.2. On-premises
9.3.3. Cloud
9.4. Latin America Digital Payments Market, by Organization Size, 2016-2028(US$ Bn)
9.4.1. Overview
9.4.2. Small & Medium-sized Enterprises
9.4.3. Large Enterprises
9.5. Latin America Digital Payments Market, by Vertical, 2016-2028(US$ Bn)
9.5.1. Overview
9.5.2. Banking, Financial Services, and Insurances
9.5.3. Retail and Ecommerce
9.5.4. Healthcare
9.5.5. Travel and Hospitality
9.5.6. Transportation and Logistics
9.5.7. Media and Entertainment
9.5.8. Others Verticals

10. Middle East
10.1. Middle East Digital Payments Market, by Country, 2016-2028(US$ Bn)
10.1.1. UAE
10.1.2. KSA
10.1.3. Israel
10.1.4. Turkey
10.1.5. Iran
10.1.6. Rest of Middle East
10.2. Middle East Digital Payments Market, by Component, 2016-2028(US$ Bn)
10.2.1. Overview
10.2.2. Solutions
10.2.3. Services
10.3. Middle East Digital Payments Market, by Deployment Type, 2016-2028(US$ Bn)
10.3.1. Overview
10.3.2. On-premises
10.3.3. Cloud
10.4. Middle East Digital Payments Market, by Organization Size, 2016-2028(US$ Bn)
10.4.1. Overview
10.4.2. Small & Medium-sized Enterprises
10.4.3. Large Enterprises
10.5. Middle East Digital Payments Market, by Vertical, 2016-2028(US$ Bn)
10.5.1. Overview
10.5.2. Banking, Financial Services, and Insurances
10.5.3. Retail and Ecommerce
10.5.4. Healthcare
10.5.5. Travel and Hospitality
10.5.6. Transportation and Logistics
10.5.7. Media and Entertainment
10.5.8. Others Verticals

11. Africa
11.1. Africa Digital Payments Market, by Country, 2016-2028(US$ Bn)
11.1.1. South Africa
11.1.2. Egypt
11.1.3. Nigeria
11.1.4. Rest of Africa
11.2. Africa Digital Payments Market, by Component, 2016-2028(US$ Bn)
11.2.1. Overview
11.2.2. Solutions
11.2.3. Services
11.3. Africa Digital Payments Market, by Deployment Type, 2016-2028(US$ Bn)
11.3.1. Overview
11.3.2. On-premises
11.3.3. Cloud
11.4. Africa Digital Payments Market, by Organization Size, 2016-2028(US$ Bn)
11.4.1. Overview
11.4.2. Small & Medium-sized Enterprises
11.4.3. Large Enterprises
11.5. Africa Digital Payments Market, by Vertical, 2016-2028(US$ Bn)
11.5.1. Overview
11.5.2. Banking, Financial Services, and Insurances
11.5.3. Retail and Ecommerce
11.5.4. Healthcare
11.5.5. Travel and Hospitality
11.5.6. Transportation and Logistics
11.5.7. Media and Entertainment
11.5.8. Others Verticals

12. Global

12.1. Global Digital Payments Market, by Component, 2016-2028(US$ Bn)
12.1.1. Overview
12.1.2. Solutions
12.1.3. Services
12.2. Global Digital Payments Market, by Deployment Type, 2016-2028(US$ Bn)
12.2.1. Overview
12.2.2. On-premises
12.2.3. Cloud
12.3. Global Digital Payments Market, by Organization Size, 2016-2028(US$ Bn)
12.3.1. Overview
12.3.2. Small & Medium-sized Enterprises
12.3.3. Large Enterprises
12.4. Global Digital Payments Market, by Vertical, 2016-2028(US$ Bn)
12.4.1. Overview
12.4.2. Banking, Financial Services, and Insurances
12.4.3. Retail and Ecommerce
12.4.4. Healthcare
12.4.5. Travel and Hospitality
12.4.6. Transportation and Logistics
12.4.7. Media and Entertainment
12.4.8. Others Verticals

13. Company Profiles
13.1. Fiserv (US)
13.2. PayPal (US)
13.3. Global Payments (US)
13.4. Stripe (US)
13.5. Mastercard (US)
13.6. VISA (US)
13.7. Square (US)
13.8. Adyen (Netherlands)
13.9. Temenos (Switzerland)
13.10. Worldline (France)
13.11. Stax by FattMerchant (US)
13.12. PayU (Netherlands)
13.13. EBANX (Brazil)
13.14. Apple (US)
13.15. JPMorgan Chase (US)
13.16. Aurus (US)
13.17. 2Checkout now Verifone(US)
13.18. PayTrace (US)
13.19. Spreedly (US)
13.20. Braintree (US)
13.21. FIS (US)
13.22. ACI Worldwide (US)
13.23. WEX (US)
13.24. FLEETCOR (US)
13.25. Dwolla (US)
13.26. Clover(US)
13.27. OpenWay Group (Belgium)

List of Figures

FIG. 1 Global Digital Payments Market: Research Methodology
FIG. 2 Market Size Estimation – Top Down & Bottom up Approach
FIG. 3 Global Digital Payments Market Segmentation
FIG. 4 Global Digital Payments Market, by Component, 2021 (US$ Bn)
FIG. 5 Global Digital Payments Market, by Deployment Type, 2021 (US$ Bn)
FIG. 6 Global Digital Payments Market, by Organization Size, 2021 (US$ Bn)
FIG. 7 Global Digital Payments Market, by Vertical, 2021 (US$ Bn)
FIG. 8 Global Digital Payments Market, by Geography, 2021 (US$ Bn)
FIG. 9 Attractive Investment Proposition, by Component, 2021
FIG. 10 Attractive Investment Proposition, by Deployment Type, 2021
FIG. 11 Attractive Investment Proposition, by Organization Size, 2021
FIG. 12 Attractive Investment Proposition, by Vertical, 2021
FIG. 13 Attractive Investment Proposition, by Geography, 2021
FIG. 14 Global Market Positioning of Key Digital Payments Market Manufacturers, 2019
FIG. 15 Global Digital Payments Market Value Contribution, By Component, 2021 & 2028 (Value %)
FIG. 16 Global Digital Payments Market, by Solutions, Value, 2016-2028 (US$ Bn)
FIG. 17 Global Digital Payments Market, by Services, Value, 2016-2028 (US$ Bn)
FIG. 18 Global Digital Payments Market Value Contribution, By Deployment Type, 2021 & 2028 (Value %)
FIG. 19 Global Digital Payments Market, by On-premises, Value, 2016-2028 (US$ Bn)
FIG. 20 Global Digital Payments Market, by Cloud, Value, 2016-2028 (US$ Bn)
FIG. 21 Global Digital Payments Market Value Contribution, By Organization Size, 2021 & 2028 (Value %)
FIG. 22 Global Digital Payments Market, by Small & Medium-sized Enterprises, Value, 2016-2028 (US$ Bn)
FIG. 23 Global Digital Payments Market, by Large Enterprises, Value, 2016-2028 (US$ Bn)
FIG. 24 Global Digital Payments Market Value Contribution, By Vertical, 2021 & 2028 (Value %)
FIG. 25 Global Digital Payments Market, by Banking, Financial Services, and Insurances, Value, 2016-2028 (US$ Bn)
FIG. 26 Global Digital Payments Market, by Retail and Ecommerce, Value, 2016-2028 (US$ Bn)
FIG. 27 Global Digital Payments Market, by Healthcare, Value, 2016-2028 (US$ Bn)
FIG. 28 Global Digital Payments Market, by Travel and Hospitality, Value, 2016-2028 (US$ Bn)
FIG. 29 Global Digital Payments Market, by Transportation and Logistics, Value, 2016-2028 (US$ Bn)
FIG. 30 Global Digital Payments Market, by Media and Entertainment, Value, 2016-2028 (US$ Bn)
FIG. 31 Global Digital Payments Market, by Others Verticals, Value, 2016-2028 (US$ Bn
FIG. 32 U.S. Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 33 Rest of North America Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 34 U.K. Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 35 Germany Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 36 France Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 37 Italy Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 38 Spain Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 39 Russia Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 40 BENELUX Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 41 Poland Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 42 Austria Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 43 Rest of Europe Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 44 Japan Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 45 China Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 46 India Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 47 South Korea Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 48 Australia Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 49 Southeast Asia Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 50 Rest of Asia Pacific Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 51 Middle East & Africa Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 52 South Africa Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 53 Nigeria Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 54 Egypt Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 55 GCC Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 56 Israel Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 57 Latin America Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 58 Brazil Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 59 Argentina Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 60 Colombia Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 61 Peru Digital Payments Market, 2016-2028 (US$ Bn)
FIG. 62 Chile Digital Payments Market, 2016-2028 (US$ Bn)

List of Tables

TABLE 1 Market Snapshot: Global Digital Payments Market
TABLE 2 Global Digital Payments Market, by Component, 2016-2028 (US$ Bn)
TABLE 3 Global Digital Payments Market, by Deployment Type, 2016-2028 (US$ Bn)
TABLE 4 Global Digital Payments Market, by Organization Size, 2016-2028 (US$ Bn)
TABLE 5 Global Digital Payments Market, by Vertical, 2016-2028 (US$ Bn)
TABLE 6 Global Digital Payments Market, by Geography, 2016-2028 (US$ Bn)
TABLE 7 North America Digital Payments Market, by Component, 2016-2028 (US$ Bn)
TABLE 8 North America Digital Payments Market, by Deployment Type, 2016-2028 (US$ Bn)
TABLE 9 North America Digital Payments Market, by Organization Size, 2016-2028 (US$ Bn)
TABLE 10 North America Digital Payments Market, by Vertical, 2016-2028 (US$ Bn)
TABLE 11 North America Digital Payments Market, by Country, 2016-2028 (US$ Bn)
TABLE 12 Europe Digital Payments Market, by Component, 2016-2028 (US$ Bn)
TABLE 13 Europe Digital Payments Market, by Deployment Type, 2016-2028 (US$ Bn)
TABLE 14 Europe Digital Payments Market, by Organization Size, 2016-2028 (US$ Bn)
TABLE 15 Europe Digital Payments Market, by Vertical, 2016-2028 (US$ Bn)
TABLE 16 Europe Digital Payments Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 17 Asia Pacific Digital Payments Market, by Component, 2016-2028 (US$ Bn)
TABLE 18 Asia Pacific Digital Payments Market, by Deployment Type, 2016-2028 (US$ Bn)
TABLE 19 Asia Pacific Digital Payments Market, by Organization Size, 2016-2028 (US$ Bn)
TABLE 20 Asia Pacific Digital Payments Market, by Vertical, 2016-2028 (US$ Bn)
TABLE 21 Asia Pacific Digital Payments Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 22 Latin America Digital Payments Market, by Component, 2016-2028 (US$ Bn)
TABLE 23 Latin America Digital Payments Market, by Deployment Type, 2016-2028 (US$ Bn)
TABLE 24 Latin America Digital Payments Market, by Organization Size, 2016-2028 (US$ Bn)
TABLE 25 Latin America Digital Payments Market, by Vertical, 2016-2028 (US$ Bn)
TABLE 26 Latin America Digital Payments Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 27 Middle East Digital Payments Market, by Component, 2016-2028 (US$ Bn)
TABLE 28 Middle East Digital Payments Market, by Deployment Type, 2016-2028 (US$ Bn)
TABLE 29 Middle East Digital Payments Market, by Organization Size, 2016-2028 (US$ Bn)
TABLE 30 Middle East Digital Payments Market, by Vertical, 2016-2028 (US$ Bn)
TABLE 31 Middle East Digital Payments Market, by Country/Region, 2016-2028 (US$ Bn)
TABLE 32 Africa Digital Payments Market, by Component, 2016-2028 (US$ Bn)
TABLE 33 Africa Digital Payments Market, by Deployment Type, 2016-2028 (US$ Bn)
TABLE 34 Africa Digital Payments Market, by Organization Size, 2016-2028 (US$ Bn)
TABLE 35 Africa Digital Payments Market, by Vertical, 2016-2028 (US$ Bn)
TABLE 36 Africa Digital Payments Market, by Country/Region, 2016-2028 (US$ Bn)

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Frequently Asked Questions

What are the major growth factors driving the growth of the digital payment market?

The market for digital payments is primarily driven by global initiatives to encourage them, the increasing prevalence of smartphones enabling mobile commerce growth, an increase in eCommerce sales, and an increase in internet access.

Who are the leading vendors in the digital payment market?

The major vendors in the digital payment market include FIS (US), Square (US), PayPal (US), Fiserv (US), and Global Payments (US).

Which region is expected to hold the highest market share in the digital payment market?

Asia-Pacific is expected to hold the highest market share in the digital payment market.

Which verticals are expected to adopt the digital payment market?

The industrial verticals such as Banking, Financial Services, and Insurances, Retail, and media & entrainment are expected to gain traction in the digital market in the forecast period.

About Author

Rajdeep Kumar Deb

Lead Analyst – Consumer & Finance

Rajdeep brings a decade of consumer goods and financial services insight to strategic market analysis.

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Digital Content Creation Market

The Global Digital Content Creation Market size was valued at USD 21,300.0 million in 2018 to USD 32,295.4 million in 2024 and is anticipated to reach USD 88,425.7 million by 2032, at a CAGR of 13.50% during the forecast period.

Digital Music Content Market

The digital music content market size was valued at USD 25542.6 million in 2024 and is anticipated to reach USD 46859 million by 2032, at a CAGR of 7.88 % during the forecast period (2024-2032).

Digital Risk Management Market

The Digital Risk Management Market size was valued at USD 7213.4 million in 2024 and is anticipated to reach USD 19312.6 million by 2032, at a CAGR of 13.1% during the forecast period (2024-2032).

Digital Temperature and Humidity Sensor Market

Digital Temperature and Humidity Sensor Market size was valued at USD 2722.5 million in 2024 and is anticipated to reach USD 5793.6 million by 2032, at a CAGR of 9.9% during the forecast period.

Digital Banking Platforms Market

The Digital Banking Platforms Market size was valued at USD 13853.7 million in 2024 and is anticipated to reach USD 41502.4 million by 2032, at a CAGR of 14.7% during the forecast period (2024-2032).

Veterinary Digital Pathology Market

The Veterinary Digital Pathology Market size was valued at USD 418 million in 2024 and is anticipated to reach USD 1252.22 million by 2032, at a CAGR of 14.7% during the forecast period (2024-2032).

Women’s Digital Health Market

The womens digital health market size was valued at USD 3025 million in 2024 and is anticipated to reach USD 12164.6 million by 2032, at a CAGR of 19 % during the forecast period (2024-2032).

Digital Diabetes Management Market

The Global Digital Diabetes Management Market size was valued at USD 10,020.00 million in 2018 to USD 13,390.49 million in 2024 and is anticipated to reach USD 25,435.97 million by 2032, at a CAGR of 8.40% during the forecast period.

Digital Stethoscope Market

The digital stethoscope market is projected to grow from USD 517 million in 2024 to USD 781.4 million by 2032, at a compound annual growth rate of 5.3%.

Cargo Transportation Insurance Market

The cargo transportation insurance market size was valued at USD 57699.4 million in 2024 and is anticipated to reach USD 82432 million by 2032, at a CAGR of 4.56 % during the forecast period (2024-2032).

Digital Banking Platforms Market

The Digital Banking Platforms Market size was valued at USD 13853.7 million in 2024 and is anticipated to reach USD 41502.4 million by 2032, at a CAGR of 14.7% during the forecast period (2024-2032).

Commercial Insurance Market

Commercial Insurance Market size was valued at USD 922502.5 million in 2024 and is anticipated to reach USD 147032 million by 2032, at a CAGR of 6% during the forecast period.

Accounting Finance Market

The Accounting Finance Market size was valued at USD 676910 million in 2024 and is anticipated to reach USD 1243662.3 million by 2032, at a CAGR of 7.9% during the forecast period (2024-2032).

Accounting and Budgeting Software Market

The Accounting and Budgeting Software Market size was valued at USD 20860 million in 2024 and is anticipated to reach USD 41260.7 million by 2032, at a CAGR of 8.9% during the forecast period (2024-2032).

Financial Analytics Market

The Financial Analytics Market size was valued at USD 11241 million in 2024 and is anticipated to reach USD 24271.8 million by 2032, at a CAGR of 10.1% during the forecast period (2024-2032).

Tax Management Market

The Tax Management Market size was valued at USD 18,320.00 million in 2018 to USD 22,589.91 million in 2024 and is anticipated to reach USD 36,756.61 million by 2032, at a CAGR of 6.34% during the forecast period.

Option Trading Analysis Software Market

The Option Trading Analysis Software Marketsize was valued at USD 1225 million in 2024 and is anticipated to reach USD 2635 million by 2032, at a CAGR of 10.05 % during the forecast period (2024-2032).

Reinsurance Market

The reinsurance market size was valued at USD 512,400.00 million in 2018 and increased to USD 712,571.18 million in 2024. It is anticipated to reach USD 1,532,677.27 million by 2032, growing at a CAGR of 10.14% during the forecast period.

Collateralized Debt Obligation Market

The Collateralized Debt Obligation market size was valued at USD 345.19 million in 2018, increased to USD 513.39 million in 2024, and is anticipated to reach USD 865.20 million by 2032, at a CAGR of 6.28% during the forecast period.

Cryptocurrency Components Market

The digital currency market is projected to grow from USD 6,565 million in 2024 to USD 17,255.9 million by 2032, expanding at a CAGR of 12.84% during the forecast period.

Art Funds Market

The Art Funds market size was valued at USD 670.31 million in 2018, reached USD 965.12 million in 2024, and is anticipated to reach USD 1,549.62 million by 2032, growing at a CAGR of 5.68% during the forecast period

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Thank you for the data! The numbers are exactly what we asked for and what we need to build our business case.

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The report was an excellent overview of the Industrial Burners market. This report does a great job of breaking everything down into manageable chunks.

Imre Hof
Management Assistant, Bekaert