The recent report by Astute Analytica on the global Digital payment market covers all the factors which will impact the market in the coming years. The report discusses several sections, such as COVID-19 impact, shareholding segments, etc. Moreover, it also outlines the list of past innovations and ongoing events to give an overview of the trends.
Digital payment market was valued at US$ 122.32 billion in 2024 and is projected to hit the market valuation of US$ 712.14 billion by 2033 at a CAGR of 21.80% during the forecast period 2025–2033.
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Factors Affecting the Market
Technology is maintaining a vital place across all industrial verticals, including healthcare, automotive, construction, etc. Companies leverage cloud and service-based services to propel innovation and bring significant revolution. Thus, it will drive the growth of the global Digital payment market during the forecast period.
Growing investments in this market are expected to boost the growth of the overall market. For instance, the US Federal Government set aside $58.4 billion budget for IT at civilian Federal agencies in 2022, which is an increase of 2.4 percent from 2021.
COVID-19 Impact Analysis
The COVID-19 outbreak forced many organizations to adapt to digital methods, which rapidly accelerated digital transformation. Work environments changed abruptly as remote work became the new normal among organizations. As a result, it is forecast to strengthen the potential scope of the Digital payment market in the coming years. This report by Astute Analytica covers all the factors depicting the impact of the pandemic.
Top Companies in the Digital Payment Market:
- PayPal
- Fiserv
- FIS
- Mastercard Incorporated
- Aliant Payments
- Net
- Square
- ACI Worldwide
- JPMorgan Chase
- Apple Inc.
- Adyen
- Verifone
- BharatPe
- Global Payments Inc.
- Other Prominent Players
Regional Analysis
North America is forecast to emerge as the largest shareholder in the global Digital payment market in terms of revenue. The growth of the market is attributable to various factors, including early adoption of advanced technology, growing investments in the sector, and rising infrastructural development. Furthermore, the Asia-Pacific market for Digital payment will also grow steadily due to growing spending by government bodies. Additionally, increasing initiatives to improve infrastructure will also drive the market forward.
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Market Segmentation Overview:
By Component
- Solution
- Payment Gateway Solutions
- Payment Processing Solutions
- Payment Wallet Solutions
- Payment Security & Fraud Management Solutions
- Point of Sale (POS) Solutions
- Services
- Professional Services
- Consulting
- Implementation
- Support and Maintenance
- Managed Services
- Professional Services
By Mode of Payment
- Bank Cards
- Digital Currencies
- Digital Wallets
- Net Banking
- Point of Sales
- Others
By Deployment Type
- On-premises
- Cloud
By Transaction Size
- Domestic
- Cross-Border
By Organization Size
- Small and Medium-sized Enterprises
- Large Enterprises
By Industry Verticals
- BFSI
- Healthcare
- IT & Telecom
- Media & Entertainment
- Retail & E-commerce
- Transportation
- Others
By Region
- North America
- The U.S.
- Canada
- Mexico
- Europe
- Western Europe
- The UK
- Germany
- France
- Italy
- Spain
- Rest of Western Europe
- Eastern Europe
- Poland
- Russia
- Rest of Eastern Europe
- Asia Pacific
- China
- India
- Japan
- Australia & New Zealand
- South Korea
- ASEAN
- Indonesia
- Malaysia
- Thailand
- Singapore
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- South Africa
- UAE
- Rest of MEA
- South America
- Argentina
- Brazil
- Rest of South America
- Western Europe
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