Digital Payment Industry Overview The global digital payment market size is expected to reach USD 361.30 billion by 2030, expanding at a CAGR of 20.5% over the forecast period, according to a new report by Grand View Research, Inc. The market growth can be attributed to the growing volume of cashless transactions worldwide. According to PwC, a consulting company, the global volume of cashless payments is expected to increase by more than 80% between 2020 and 2025, to nearly 1.9 trillion by 2025 from nearly 1 trillion transactions in 2020. The rising demand for digital payments has encouraged several smartwatch providers to introduce enhanced smartwatches capable of making contactless payments. Digital Payment Market Segmentation Grand View Research has segmented the global digital payment market report based on solution, mode of payment, deployment, enterprise size, deployment, end use, and region: Based on the Solution Insights, the market is segmented into application program interface, payment gateway, payment processing, payment security & fraud management, transaction risk management and others
Based on the Mode of Payment Insights, the market is segmented into bank cards, digital currencies, digital wallets, net banking, point of sales and others
Based on the Deployment Insights, the market is segmented into cloud and on-premise
Based on the Enterprise Size Insights, the market is segmented into large enterprises and small & medium enterprises
Based on the End-use Insights, the market is segmented into BFSI, healthcare, IT & telecom, media & entertainment, retail & e-commerce, transportation and others
Digital Payment Regional Outlook
Key Companies Profile & Market Share Insights The competitive landscape of the market is highly fragmented. Market players are focused on strategies, such as partnerships, joint ventures, product innovation, research & development, and geographical expansion to strengthen their market positions. Merchants adopt on-premise digital payment solutions due to security-related benefits, such as improved security levels and thereby increased level of customer satisfaction. Market players are focused on enhancing their product offerings to better cater to the changing needs of users and stay competitive. Some of the prominent players in the global digital payment market are:
Market Industry Development
Order a free sample PDF of the Digital Payment Market Intelligence Study, published by Grand View Research. About Grand View Research Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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Jyoti WaghmareWorking at market research and consulting company as a "Team Lead of Web Marketing Team". It offers syndicated research studies, customized reports, and consulting services. Market research studies are designed to facilitate strategic decision making, on the basis of extensive and in-depth quantitative information, supported by extensive analysis and industry insights. |