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(USGovernment-News.Com, December 29, 2018 ) Global Payment Security Market Global Payment Security Market would grow to 27.01 billion in 2023 at a CAGR of 15.24%. The growing propagation of smartphones, acceptance of wearable technology, cumulative adoption of m-commerce and e-commerce, by banking and financial services, the entrance of the technology companies and accessibility of a diverse payment technology solutions are predicted to drive the industry in spite of technological, financial and security challenges restraining the ecosystem in several key market regions.
Asia continues to lead in mobile payments, with consumers embracing digital wallets on a huge scale, banks and businesses have transformed their payment infrastructures to support this surge.
Global payment security technology providers are Bluefin, SISA, Braintree, Paygilant, Ingenico E-payments, etc.
Governments are endorsing growths in card acceptance infrastructure and in turn growing debit and credit card usage in evolving markets. ATM and bank branches in countries including Brazil, Mexico, Argentina and other countries are expected to reduce in the forecasted years. By application, the market is segmented into industrial automation, smart factories and industrial IoT. Industrial automation has the highest share in the Global market in 2018. By solution, the market is segmented into encryption, tokenization, fraud detection and prevention. By service, the market is segmented into integration services, support services, consulting services. By end-user, the market is segmented into retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and others. By regions, the market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East and Africa
Key growth factors Banks are using technologies and modernization initiatives such as open Application Program Interfaces (API), blockchain, instant payments and mobile wallets to enhance the customer experience, in turn leading to the increase in the demand for the payment security. Due to the widespread use of smartphones, mobile banking and payments applications have gone mainstream, and wearables provide convenient access to such applications.
Threats and key players Payments business has become increasingly competitive. Growth in trade and investment flows between Asia and other parts of the world are a driving demand for cross-border payments. However, new regulations and compliance requirements along with the current payment infrastructure do not support the more complex and holistic requirements of new regulations.
What’s covered in the report? 1. Overview of the Global payment security market 2Market drivers and challenges in the Global payment security market, in Global payment security market 3. Market trends in the Global payment security market payment security market 4. Historical, current and forecasted market size data for Global market segmentation based on type of solution (encryption, tokenization, fraud detection and prevention) - revenue 5. Historical, current and forecasted market size data for Global market segmentation based on End-user (retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and others) – by revenue 6. Historical, current and forecasted market size data of Global payment security market by region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa) – by revenue 7. Analysis of the competitive landscape and profiles of major competitors operating in the Global market
Why buy? 1. Understand the demand for Global payment security market to determine the viability of the market 2. Understand the country-specific market size and observations for each segment 3. Develop strategies based on the drivers, trends and highlights for each of the segments 4. Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed 5. Recognize the key competitors of this market and respond accordingly 6. Identify the initiatives and growth strategies taken by the major companies and decide the direction of further growth 7. Define the competitive positioning by comparing the products and services compared with the key players in the market
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