MarkNtel Advisors analyses the growth rate of the Payment Gateway market in the forecast period from 2023 to 2028. In addition to comprehensive market insights such as market value, growth rate, market segmentation, key market players, and market dynamic. This detailed analysis aims to provide valuable information for stakeholders in the Payment Gateway market, helping them make informed decisions.
Market Outlook – 2023-2028:
The Global Payment Gateway Market is projected to grow at a CAGR of around 20% during the forecast period, i.e., 2023-28. The market growth can be accredited to the rapid adoption of smartphone-based payments encouraged by the expanding e-commerce platforms. Consequently, sellers and buyers collectively rely on digital transaction channels for more accessible, safe, and hassle-free transactions, which, in turn, prompts the further adoption of such gateways in the coming years.
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Key Company Profiles
This report explores recent significant developments in the Payment Gateway Market, focusing on the leading companies and their innovative profiles. The major players in the Payment Gateway Market, featured in this report, include:
- PayPal Holdings
- Stripe, Inc.
- Adyen NV., Inc
- Amazon Pay
- Square, Inc
- Skrill limited
- PayU group
- Ingenico Group
- Alipaycom Co Ltd
- Paytm Mobile Solutions Pvt. Ltd
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Market Segmentation & Coverage
This research report by MarkNtel Advisors categorizes the Payment Gateway Market to forecast revenues and analyse trends across each of the following sub-markets:
- By Type
- Hosted
- Self-hosted
- Bank integrated
Of these three, the Hosted type acquired a larger market share and is expected to grow further in the forecast years. Hosted gateway is a third-party checkout system that directs clients to the payment service provider’s (PSP) website.
- By Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
- By End-Users
- Retail
- Travel
- Hospitality
- Healthcare
- Education
- Government
- Utilities
- Others
- By Region
- North America
- South America
- Europe
- Asia-Pacific
- Middle East & Africa
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What are the primary factors driving the growth of the Global Payment Gateway Market?
Online Shopping Trends and Government Initiatives Promoting Digital Transactions
A notable shift in shopping patterns with growing internet penetration has led to the large-scale adoption of payment gateways in recent years. In addition, numerous government initiatives encouraging digital transactions further promote such extensive adoption, citing it as vital for the country’s economy in terms of maximized revenues, transparency, and ICT technologies. As such, initiatives like the Unified Payment Interface (UPI) launched by the Indian government and the promotion of ePayments by the Monetary Authority Singapore (MAS) have fueled market growth. Moreover, over the past few years, retailers have evolved into taking all forms of payment options available owing to the tangible presence of smartphones and cards. Thus retailers are putting efforts into employing innovative mobile transaction solutions, risk management, and customer service to stay in line with modern payment solutions. Backed by these aspects, the industry is expected to expand its horizon in the coming years.
Key Questions Addressed:
- Market Size and Growth Projections: What is the current size of the market, and how is it expected to grow?
- Investment Opportunities: Which products, segments, and regions present the most attractive investment opportunities?
- Technology Trends and Regulatory Influences: What are the prevailing technology trends and regulatory factors influencing the market?
- Competitive Ranking: How do top vendors rank regarding market share and competitive positioning?
- Revenue Sources and Strategic Opportunities: What revenue sources and strategic opportunities guide vendors’ market entry or exit decisions?
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