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The global digital payment market was valued at USD 102.60 billion in 2022 and growing at a CAGR of 17.4% from 2023 to 2032. Transactions conducted with the help of digital technology, including the Internet, smartphones, and payment cards, are called digital payments. Digital payment technology eradicates the necessity for physical money and cheques, allowing for quicker and more manageable methods of payment or trading. There are mainly two types of digital payments. Business-to-consumer (B2C) payments involve customers paying for purchased goods or services, whereas peer-to-peer (P2P) payments include two people transferring money. Organizations and Individuals can swiftly and securely transfer money through digital payment systems. Digital payments eliminate the need for businesses to handle vast amounts of cash and hire personnel to collect, sort, and count money.
Digital payments have revolutionized the payment process for goods and services online. The users interact with the payment gateways that act as virtual middlemen to facilitate transactions Instead of cash or cheques. These gateways can be mobile applications (apps), software programs or websites. When a consumer opts for the digital payment method, the payment gateway interacts with the merchant's bank to initiate payment. As end-users, the organizations or individuals are obliged to enter valid parameters required for the payment details, including the debit card/credit card information, amount, and account number. The gateway securely transmits this information to complete the transaction. Once the payment is authorized, the money is transferred to the merchant's bank account. This entire process happens seamlessly and efficiently, saving time. Digital payment technology has gained immense popularity, making it convenient for people to make online purchases. Nowadays, most online merchants accept these payment options. Furthermore, physical stores have also embraced digital payments, allowing customers to skip the checkout line and make payments using their smartphones.
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Rising Demand for Digital Payment amongst the Users- Digital payment is becoming increasingly popular amongst the consumers owing to the introduction of the cashless transactions. The growing popularity of cashless transactions has altered the digital payments business globally, entitling end-users to make payments at any time and from any location. Cashless transactions offer benefits and advantages over traditional payment methods, including improved security, time efficiency, and convenience. Cashless transactions correspondingly help organizations enhance tracking, revenue, and customer experience. Digital payments are expected to rise exponentially in the upcoming years as customers get more convenient in utilizing digital payments for purchasing goods and products. This is the primary factor for the market growth and development.
Lack of Security and Privacy Issues- As the digital payment industry is experiencing rapid growth owing to the rapid technological advancements, there are some disadvantages associated with the utilization of the digital payment across end-user industries. Security and safety issues are considered one of the primary disadvantages of digital payment. The digital payments ecosystem is susceptible to nefarious participants, fraud, and data breaches without adequate security measures. Inadequate security settings will result in lost information for consumers and businesses, resulting in stolen money for users and substantial financial losses for business organizations. Additionally, insufficient privacy and anonymity concern digital payments among numerous persons. Customers could be anxious concerning their facts becoming used by third parties without their agreement; or that they get identified regarding their payment themselves or some other person’s account. So, this factor is hindering the expansion and growth of the market.
Expansion of Internet and Growing Adoption of Smartphones - With the rapid expansion of internet connectivity and smartphones within the global digital payments market, some profound and far-reaching influences have been seen within consumer and business activity. Digital payments allow anyone to conduct retail transactions using an internet-connected device 24 hours a day, seven days a week, irrespective of whether that person is physically at the point of sale. This immediate availability allows consumers to make purchases and pay for services quickly and easily, avoiding the need to carry cash or use bank or credit cards. Auxiliary payment service providers can be readily connected electronically to the devices used by customers to complete retail transactions, and this means dependable funds transfers could be done rapidly, securely and efficiently. Thus, this factor is anticipated to provide lucrative growth opportunities in the upcoming years.
The regions analyzed for the market include Europe, North America, South America, Asia Pacific, and Middle East & Africa. North America emerged as the most significant region within the global digital payment market, with a 39.0% market revenue share in 2022. The favorable government policies and supportive legal frameworks promote the cashless transactions across various end-user industry verticals such as e-commerce, logistics delivery and others. This is the primary factor the regional market growth and development. The region is considered the early adopter of drone technology due to the presence of the key players. The regional market players also engage in various market strategies such as product innovation, product differentiation, mergers, acquisitions, partnerships, and strategic alliances to maintain their competitive edge.
North America Region Digital Payment Market Share in 2022 - 39.0%
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The type segment is divided into professional services and managed services. The professional services segment dominated, with a market share of around 55% in 2022. The segment growth is mainly attributed to the rising demand for professional services across the end-user industry verticals within the digital payment processing industry. The professional services include designing, tasking, planning, consulting, upgrades and proper maintenance. The companies providing professional services have a dedicated team or group of skilled professionals specializing in providing appropriate services to their clientele to improve customer satisfaction.
The solution segment is categorized into payment gateway, payment processing, payment security & fraud management and others. The payment processing segment dominated, with a market share of around 33% in 2022. The growing popularity of online shopping worldwide is forcing shops to implement payment processing solutions to give customers flawless checkout experiences. To strengthen their market presence, players offering payment processing solutions focus on mergers & acquisitions and collaborations. This is the primary factor for the segment growth.
The mode of payment segment is bifurcated into bank cards, digital wallets, point-of-sales, net banking and others. The point of sales segment dominated, with a market share of around 36% in 2022. Retail stores employ point-of-sale systems to execute payment transactions. These systems provide advantages such as quick checkout alternatives, personalized customer experiences, and different payment options. Retailers across the globe are implementing cloud-based point-of-sale systems to boost efficiency and service effectiveness. This factor is augmenting the segment growth.
The deployment mode segment is bifurcated into cloud and on-premises. The on-premises segment dominated, with a market share of around 62% in 2022. On-premise digital payment deployment gives corporations complete control over their software applications and systems, which the IT professionals of that particular corporation effortlessly manage. Furthermore, the increased incidences of financial fraudulence due to the COVID-19 epidemic is a crucial factor driving organizational demand for on-premises solutions.
The organization size segment is divided into SMEs and large enterprises. The large enterprises segment dominated the market, with a market share of around 60% in 2022. Large retail shops are becoming more interested in digital payment solutions to allow their clients to make payments while maintaining social distance owing to the Covid-19 scenario. Retailers implement digital payment systems such as smart banking cards, point-of-sale solutions, and e-wallets to minimize checkout time. At the same time, enterprises are working on providing clients with innovative payment solutions. This is the primary factor for the segment growth.
The industry segment is divided into BFSI, healthcare, IT & telecom, retail & E-commerce, transportation and others. The BFSI segment dominated the market, with a market share of around 28% in 2022. The BFSI industry has evolved drastically in recent years. The growing demand for digital payment solutions for cross-border and domestic transactions is boosting the growth of the BFSI industry vertical. Additionally, the BFSI industry is observing a rise in customer preferences for digital payments due to the rapid adoption of smartphones, followed by internet usage. Furthermore, banking corporations are improving their digital payment capabilities to compete with other solution providers such as Amazon.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 102.60 Billion |
| Market size value in 2032 | USD 510.30 Billion |
| CAGR (2023 to 2032) | 17.4% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Services, Mode of Payment, Solution, Organization Size, Deployment Mode, Industry |
As per The Brainy Insights, the size of the global digital payment market was valued at USD 102.60 billion in 2022 to USD 510.30 billion by 2032.
Global digital payment market is growing at a CAGR of 17.4% during the forecast period 2023-2032.
The market's growth will be influenced by the increasing demand for digital payment across end-users and consumers.
The poor internet infrastructure in developing countries is hampering the market growth.
1. Introduction
1.1. Objectives of the Study
1.2. Market Definition
1.3. Research Scope
1.4. Currency
1.5. Key Target Audience
2. Research Methodology and Assumptions
3. Executive Summary
4. Premium Insights
4.1. Porter’s Five Forces Analysis
4.2. Value Chain Analysis
4.3. Top Investment Pockets
4.3.1. Market Attractiveness Analysis by Service
4.3.2. Market Attractiveness Analysis by Solution
4.3.3. Market Attractiveness Analysis by Mode of Payment
4.3.4. Market Attractiveness Analysis by Industry
4.3.5. Market Attractiveness Analysis by Organization Size
4.3.6. Market Attractiveness Analysis by Deployment Mode
4.3.7. Market Attractiveness Analysis by Region
4.4. Industry Trends
5. Market Dynamics
5.1. Market Evaluation
5.2. Drivers
5.2.1. Rising Demand for Digital Payment amongst the Users
5.3. Restraints
5.3.1. Lack of Security and Privacy Issues
5.4. Opportunities
5.4.1. Expansion of Internet and Growing Adoption of Smartphones
6. Global Digital Payment Market Analysis and Forecast, By Service
6.1. Segment Overview
6.2. Professional
6.3. Managed
7. Global Digital Payment Market Analysis and Forecast, By Organization Size
7.1. Segment Overview
7.2. SMEs
7.3. Large Enterprise
8. Global Digital Payment Market Analysis and Forecast, By Deployment Mode
8.1. Segment Overview
8.2. Cloud
8.3. On-premises
9. Global Digital Payment Market Analysis and Forecast, By Solution
9.1. Segment Overview
9.2. Payment Gateway
9.3. Payment Processing
9.4. Payment Security & Fraud Management
9.5. Others
10. Global Digital Payment Market Analysis and Forecast, By Mode of payment
10.1. Segment Overview
10.2. Bank Cards
10.3. Digital Wallets
10.4. Point of Sales
10.5. Net Banking
10.6. Others
11. Global Digital Payment Market Analysis and Forecast, By Industry
11.1. Segment Overview
11.2. BFSI
11.3. Healthcare
11.4. IT & Telecom
11.5. Retail & E-commerce
11.6. Transportation
11.7. Others
12. Global Digital Payment Market Analysis and Forecast, By Regional Analysis
12.1. Segment Overview
12.2. North America
12.2.1. U.S.
12.2.2. Canada
12.2.3. Mexico
12.3. Europe
12.3.1. Germany
12.3.2. France
12.3.3. U.K.
12.3.4. Italy
12.3.5. Spain
12.4. Asia-Pacific
12.4.1. Japan
12.4.2. China
12.4.3. India
12.5. South America
12.5.1. Brazil
12.6. Middle East and Africa
12.6.1. UAE
12.6.2. South Africa
13. Global Digital Payment Market-Competitive Landscape
13.1. Overview
13.2. Market Share of Key Players in the Digital Payment Market
13.2.1. Global Company Market Share
13.2.2. North America Company Market Share
13.2.3. Europe Company Market Share
13.2.4. APAC Company Market Share
13.3. Competitive Situations and Trends
13.3.1. Product Launches and Developments
13.3.2. Partnerships, Collaborations, and Agreements
13.3.3. Mergers & Acquisitions
13.3.4. Expansions
14. Company Profiles
14.1. Wirecard AG
14.1.1. Business Overview
14.1.2. Company Snapshot
14.1.3. Company Market Share Analysis
14.1.4. Company Product Portfolio
14.1.5. Recent Developments
14.1.6. SWOT Analysis
14.2. Total System Services Inc.
14.2.1. Business Overview
14.2.2. Company Snapshot
14.2.3. Company Market Share Analysis
14.2.4. Company Product Portfolio
14.2.5. Recent Developments
14.2.6. SWOT Analysis
14.3. Paypal Holdings Inc.
14.3.1. Business Overview
14.3.2. Company Snapshot
14.3.3. Company Market Share Analysis
14.3.4. Company Product Portfolio
14.3.5. Recent Developments
14.3.6. SWOT Analysis
14.4. Stripe Inc.
14.4.1. Business Overview
14.4.2. Company Snapshot
14.4.3. Company Market Share Analysis
14.4.4. Company Product Portfolio
14.4.5. Recent Developments
14.4.6. SWOT Analysis
14.5. Visa Inc.
14.5.1. Business Overview
14.5.2. Company Snapshot
14.5.3. Company Market Share Analysis
14.5.4. Company Product Portfolio
14.5.5. Recent Developments
14.5.6. SWOT Analysis
14.6. Fiserv Inc.
14.6.1. Business Overview
14.6.2. Company Snapshot
14.6.3. Company Market Share Analysis
14.6.4. Company Product Portfolio
14.6.5. Recent Developments
14.6.6. SWOT Analysis
14.7. Novetti Group Limited
14.7.1. Business Overview
14.7.2. Company Snapshot
14.7.3. Company Market Share Analysis
14.7.4. Company Product Portfolio
14.7.5. Recent Developments
14.7.6. SWOT Analysis
14.8. Mastercard Incorporated
14.8.1. Business Overview
14.8.2. Company Snapshot
14.8.3. Company Market Share Analysis
14.8.4. Company Product Portfolio
14.8.5. Recent Developments
14.8.6. SWOT Analysis
14.9. Adyen N.V
14.9.1. Business Overview
14.9.2. Company Snapshot
14.9.3. Company Market Share Analysis
14.9.4. Company Product Portfolio
14.9.5. Recent Developments
14.9.6. SWOT Analysis
14.10. ACI Worldwide Inc.
14.10.1. Business Overview
14.10.2. Company Snapshot
14.10.3. Company Market Share Analysis
14.10.4. Company Product Portfolio
14.10.5. Recent Developments
14.10.6. SWOT Analysis
14.11. American Express Company
14.11.1. Business Overview
14.11.2. Company Snapshot
14.11.3. Company Market Share Analysis
14.11.4. Company Product Portfolio
14.11.5. Recent Developments
14.11.6. SWOT Analysis
14.12. Aliant Payment Systems Inc.
14.12.1. Business Overview
14.12.2. Company Snapshot
14.12.3. Company Market Share Analysis
14.12.4. Company Product Portfolio
14.12.5. Recent Developments
14.12.6. SWOT Analysis
List of Table
1. Global Digital Payment Market, By Service, 2019-2032 (USD Billion)
2. Global Professional Digital Payment Market, By Region, 2019-2032 (USD Billion)
3. Global Managed Digital Payment Market, By Region, 2019-2032 (USD Billion)
4. Global Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
5. Global Cloud Digital Payment Market, By Region, 2019-2032 (USD Billion)
6. Global On-premises Digital Payment Market, By Region, 2019-2032 (USD Billion)
7. Global Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
8. Global SMEs Digital Payment Market, By Region, 2019-2032 (USD Billion)
9. Global Large Enterprises Digital Payment Market, By Region, 2019-2032 (USD Billion)
10. Global Digital Payment Market, By Solution, 2019-2032 (USD Billion)
11. Global Payment Gateway Digital Payment Market, By Region, 2019-2032 (USD Billion)
12. Global Payment Processing Digital Payment Market, By Region, 2019-2032 (USD Billion)
13. Global Payment Security & Fraud Management Digital Payment Market, By Region, 2019-2032 (USD Billion)
14. Global Others Digital Payment Market, By Region, 2019-2032 (USD Billion)
15. Global Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
16. Global Bank Cards Digital Payment Market, By Region, 2019-2032 (USD Billion)
17. Global Digital Wallets Digital Payment Market, By Region, 2019-2032 (USD Billion)
18. Global Point of Sales Digital Payment Market, By Region, 2019-2032 (USD Billion)
19. Global Net Banking Digital Payment Market, By Region, 2019-2032 (USD Billion)
20. Global Others Digital Payment Market, By Region, 2019-2032 (USD Billion)
21. Global Digital Payment Market, By Industry, 2019-2032 (USD Billion)
22. Global BFSI Digital Payment Market, By Region, 2019-2032 (USD Billion)
23. Global Healthcare Digital Payment Market, By Region, 2019-2032 (USD Billion)
24. Global IT & Telecom Digital Payment Market, By Region, 2019-2032 (USD Billion)
25. Global Retail & E-commerce Digital Payment Market, By Region, 2019-2032 (USD Billion)
26. Global Transportation Digital Payment Market, By Region, 2019-2032 (USD Billion)
27. Global Others Digital Payment Market, By Region, 2019-2032 (USD Billion)
28. Global Digital Payment Market, By Region, 2019-2032 (USD Billion)
29. North America Digital Payment Market, By Service, 2019-2032 (USD Billion)
30. North America Digital Payment Market, By Solution, 2019-2032 (USD Billion)
31. North America Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
32. North America Digital Payment Market, By Industry, 2019-2032 (USD Billion)
33. North America Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
34. North America Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
35. U.S. Digital Payment Market, By Service, 2019-2032 (USD Billion)
36. U.S. Digital Payment Market, By Solution, 2019-2032 (USD Billion)
37. U.S. Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
38. U.S. Digital Payment Market, By Industry, 2019-2032 (USD Billion)
39. U.S. Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
40. U.S. Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
41. Canada Digital Payment Market, By Service, 2019-2032 (USD Billion)
42. Canada Digital Payment Market, By Solution, 2019-2032 (USD Billion)
43. Canada Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
44. Canada Digital Payment Market, By Industry, 2019-2032 (USD Billion)
45. Canada Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
46. Canada Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
47. Mexico Digital Payment Market, By Service, 2019-2032 (USD Billion)
48. Mexico Digital Payment Market, By Solution, 2019-2032 (USD Billion)
49. Mexico Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
50. Mexico Digital Payment Market, By Industry, 2019-2032 (USD Billion)
51. Mexico Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
52. Mexico Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
53. Europe Digital Payment Market, By Service, 2019-2032 (USD Billion)
54. Europe Digital Payment Market, By Solution, 2019-2032 (USD Billion)
55. Europe Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
56. Europe Digital Payment Market, By Industry, 2019-2032 (USD Billion)
57. Europe Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
58. Europe Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
59. Germany Digital Payment Market, By Service, 2019-2032 (USD Billion)
60. Germany Digital Payment Market, By Solution, 2019-2032 (USD Billion)
61. Germany Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
62. Germany Digital Payment Market, By Industry, 2019-2032 (USD Billion)
63. Germany Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
64. Germany Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
65. France Digital Payment Market, By Service, 2019-2032 (USD Billion)
66. France Digital Payment Market, By Solution, 2019-2032 (USD Billion)
67. France Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
68. France Digital Payment Market, By Industry, 2019-2032 (USD Billion)
69. France Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
70. France Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
71. U.K. Digital Payment Market, By Service, 2019-2032 (USD Billion)
72. U.K. Digital Payment Market, By Solution, 2019-2032 (USD Billion)
73. U.K. Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
74. U.K. Digital Payment Market, By Industry, 2019-2032 (USD Billion)
75. U.K. Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
76. U.K. Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
77. Italy Digital Payment Market, By Service, 2019-2032 (USD Billion)
78. Italy Digital Payment Market, By Solution, 2019-2032 (USD Billion)
79. Italy Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
80. Italy Digital Payment Market, By Industry, 2019-2032 (USD Billion)
81. Italy Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
82. Italy Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
83. Spain Digital Payment Market, By Service, 2019-2032 (USD Billion)
84. Spain Digital Payment Market, By Solution, 2019-2032 (USD Billion)
85. Spain Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
86. Spain Digital Payment Market, By Industry, 2019-2032 (USD Billion)
87. Spain Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
88. Spain Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
89. Asia Pacific Digital Payment Market, By Service, 2019-2032 (USD Billion)
90. Asia Pacific Digital Payment Market, By Solution, 2019-2032 (USD Billion)
91. Asia Pacific Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
92. Asia Pacific Digital Payment Market, By Industry, 2019-2032 (USD Billion)
93. Asia Pacific Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
94. North America Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
95. Japan Digital Payment Market, By Service, 2019-2032 (USD Billion)
96. Japan Digital Payment Market, By Solution, 2019-2032 (USD Billion)
97. Japan Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
98. Japan Digital Payment Market, By Industry, 2019-2032 (USD Billion)
99. Japan Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
100. Japan Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
101. China Digital Payment Market, By Service, 2019-2032 (USD Billion)
102. China Digital Payment Market, By Solution, 2019-2032 (USD Billion)
103. China Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
104. China Digital Payment Market, By Industry, 2019-2032 (USD Billion)
105. China Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
106. China Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
107. India Digital Payment Market, By Service, 2019-2032 (USD Billion)
108. India Digital Payment Market, By Solution, 2019-2032 (USD Billion)
109. India Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
110. India Digital Payment Market, By Industry, 2019-2032 (USD Billion)
111. India Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
112. India Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
113. South America Digital Payment Market, By Service, 2019-2032 (USD Billion)
114. South America Digital Payment Market, By Solution, 2019-2032 (USD Billion)
115. South America Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
116. South America Digital Payment Market, By Industry, 2019-2032 (USD Billion)
117. South America Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
118. South America Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
119. Brazil Digital Payment Market, By Service, 2019-2032 (USD Billion)
120. Brazil Digital Payment Market, By Solution, 2019-2032 (USD Billion)
121. Brazil Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
122. Brazil Digital Payment Market, By Industry, 2019-2032 (USD Billion)
123. Brazil Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
124. Brazil Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
125. Middle East and Africa Digital Payment Market, By Service, 2019-2032 (USD Billion)
126. Middle East and Africa Digital Payment Market, By Solution, 2019-2032 (USD Billion)
127. Middle East and Africa Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
128. Middle East and Africa Digital Payment Market, By Industry, 2019-2032 (USD Billion)
129. Middle East and Africa Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
130. Middle East and Africa Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
131. UAE Digital Payment Market, By Service, 2019-2032 (USD Billion)
132. UAE Digital Payment Market, By Solution, 2019-2032 (USD Billion)
133. UAE Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
134. UAE Digital Payment Market, By Industry, 2019-2032 (USD Billion)
135. UAE Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
136. UAE Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
137. South Africa Digital Payment Market, By Service, 2019-2032 (USD Billion)
138. South Africa Digital Payment Market, By Solution, 2019-2032 (USD Billion)
139. South Africa Digital Payment Market, By Mode of payment, 2019-2032 (USD Billion)
140. South Africa Digital Payment Market, By Industry, 2019-2032 (USD Billion)
141. South Africa Digital Payment Market, By Deployment Mode, 2019-2032 (USD Billion)
142. South Africa Digital Payment Market, By Organization Size, 2019-2032 (USD Billion)
List of Figures
1. Global Digital Payment Market Segmentation
2. Digital Payment Market: Research Methodology
3. Market Size Estimation Methodology: Bottom-Up Approach
4. Market Size Estimation Methodology: Top-Down Approach
5. Data Triangulation
6. Porter’s Five Forces Analysis
7. Value Chain Analysis
8. Global Digital Payment Market Attractiveness Analysis by Service
9. Global Digital Payment Market Attractiveness Analysis by Solution
10. Global Digital Payment Market Attractiveness Analysis by Mode of payment
11. Global Digital Payment Market Attractiveness Analysis by Industry
12. Global Digital Payment Market Attractiveness Analysis by Organization Size
13. Global Digital Payment Market Attractiveness Analysis by Deployment Mode
14. Global Digital Payment Market Attractiveness Analysis by Region
15. Global Digital Payment Market: Dynamics
16. Global Digital Payment Market Share by Service (2023 & 2032)
17. Global Digital Payment Market Share by Solution (2023 & 2032)
18. Global Digital Payment Market Share by Mode of payment (2023 & 2032)
19. Global Digital Payment Market Share by Industry (2023 & 2032)
20. Global Digital Payment Market Share by Organization Size (2023 & 2032)
21. Global Digital Payment Market Share by Deployment Mode (2023 & 2032)
22. Global Digital Payment Market Share by Regions (2023 & 2032)
23. Global Digital Payment Market Share by Company (2022)
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global digital payment market based on below mentioned segments:
Global Digital Payment Market by Service:
Global Digital Payment Market by Solution:
Global Digital Payment Market by Mode of Payment:
Global Digital Payment Market by Organization Size:
Global Digital Payment Market by Deployment Mode:
Global Digital Payment Market by Industry:
Global Digital Payment Market by Region:
Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision.
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This stage involves in extensive research. These data sources includes:
Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:
Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.
Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.
The supply side for a domain specific market is analysed by:
The demand side for the market is estimated through:
In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.
Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:
Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:
Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.
This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.
Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.
The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:
Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.
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