Global ePayment System Market By Solution (Encryption, Tokenization, Fraud Detection and Prevention), Service (Integration, Support, Consulting), Organization Size (Large Enterprises, SMEs), Vertical, By Geographical Segments (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2025
Market Analysis: Global ePayment System Market
The Global ePayment System Market is expected to reach USD 25.9 billion by 2025 from USD 12.7 billion in 2017 and is projected to grow at a CAGR of 17.7% in the forecast period of 2018 to 2025. The upcoming market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
Market Definition: Global ePayment System Market
ePayment system is defined as a mode of making transaction or payment of goods and services with an electronic medium without using cash or cheque. It is also known as online or electronic payment system.Due to increasing use of Internet-based banking and shopping, the ePayment system market has been developing over the last few years. There are various number of ePayment systems which are developed offer improvement in secure ePayment transaction while decreasing cheque and cash transactions. ePayment systems is categorized into two areas which include cash payment systems and credit payment systems. The various advantages of ePayment system are it is a more effective and efficient transaction system, without wasting time, It has lowers the whole transaction cost. It is easy to add ePayment system online, start processing payments online. Payment providers and payment gateways offer high security and anti-fraud tools for reliable transactions.
In 2018 Prime Minister Narendra Modi launched BHIM, RuPay and SBI app a three Indian mobile payment apps in Singapore at a business event. It helped in internationalisation of the country’s digital payment platform.
Market Drivers and Restraints:
- Increased speed of transactions
- No distance barriers
- Decreasing cost of technology
- Rising adoption and demand of customers for mobile and electronic commerce
- Growing trend of cashless payment
- Increasing contactless payment enabled instruments like e-wallets, cards and smartphones
- Increasing number of schemes on various cards pushing the adoption of several ePayment modes
- Growing dependency on smartphones
- Emergence of fast internet (4G/3G) technologies
- User friendliness and growing social media platform
- Declining efficiencies of aging assets and the need for operational safety
- E-commerce frau
- Lack of secrecy
Market Segmentation: Global ePayment System Market
- The market is based on solution, service, organization size, vertical and geographical segments.
- Based on solution, the market is segmented into encryption, tokenization, fraud detection and prevention.
- Based on services are segmented into integration, support, and consulting.
- Based on organization size are segmented into large enterprises and small and medium enterprises
- Based on vertical, the market is segmented into retail, BFSI, IT& telecom, healthcare, hospitality, transportation, education, government, media, entertainment and others.
- Based on geography, the market report covers data points for 28 countries across multiple geographies such as North America, South America, Europe, Asia-Pacific and Middle East & Africa. Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
Competitive Analysis: Global ePayment System Market
The global ePayment System market is fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market in order to sustain in long run. The report includes market shares of ePAYMENT system market for global, Europe, North America, Asia Pacific and South America.
Key Players: Global ePayment System Market
The renowned players in global ePayment system market are Bluefin Payment Systems, Braintree, Cybersource, Elavon, Index, Ingenico Epayments Intelligent Payments Geobridge Corporation, Shift4 Corporation, Sisa Information Security Signifyd, TNS Tokenex pureLiFi, Velmenni, Oledcomm, Philips, VLNComm, Wipro, General Electric, LVX System, Nakagawa Labs and LightPointe Communications. and many more.
Research Methodology: Global ePayment System Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
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Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other