Compete: Global Payment Analytics Software Market to Generate $4,382.8 Million and Exhibit a CAGR of 5.2% from 2021 to 2028 - Exclusive Informative [230 Pages] Report by Research Dive
The global payment analytics software market is expected to witness substantial growth in forecast period, owing to the growing adoption and usage of smartphones across the globe. The Asia-Pacific region is anticipated to observe fastest growth by 2028.
NEW YORK, Dec. 6, 2021 /PRNewswire/ -- Research Dive in its latest published report estimates that the Global Payment Analytics Software Market will generate $4,382.8 million and exhibit a CAGR of 5.2% from 2021 to 2028.
Payment Analytics Software Market Dynamics
The adoption and usage of smartphones is increasing at a rapid pace across the globe. The availability of 3G and 4G connectivity has widespread which is providing clients with convenient access to services via cellphones. In addition, the growth in the rapid expansion of the distribution networks of smartphone firms can be witnessed across the globe as these firms have made smartphones readily available to the end customers. All these factors are predicted to accelerate the growth of the global payment analytics software market during the forecast period. Moreover, technological advancements and surge in cloud-based analytics are the factors anticipated to create huge growth opportunities for the payment analytics software market by 2028. However, the lack of awareness and expertise about the functioning of payment analytics tools is expected to hamper the market growth during the estimated timeframe.
The COVID-19 pandemic has positively impacted the global payment analytics software market growth
Impact of COVID-19 Pandemic on the Payment Analytics Software Market
The positive payment analytics software growth during the pandemic period is mainly due to the increase in online sales and payment. The software includes terminal sales, currency payments, subscriptions, markets, and guidebooks to assist clients make better financial decisions.
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Key Segment Findings of the Payment Analytics Software Market:
The research report segments the global payment analytics software market into type, enterprise size, and region.
- Based on type, the web based sub-segment is estimated to surpass $2,302.4 million by 2028 and dominate in terms of market share during the forecast period. This sub-segment growth of the global payment analytics software market is mainly because web analytics assist in the analysis of different key performance indicators that helps in the development of company process.
- Based on enterprise size, the SME sub-segment is estimated to generate a revenue of $1,882.3 million by 2028 and is predicted to observe the fastest growth over the forecast period. This is majorly owing to the continuous expansion of small & medium businesses and the massive volume of data created has resulted in increasing usage of payment analytics software by these businesses.
- Based on region, the Asia-Pacific payment analytics software market is expected to surpass $1,137.2 million by 2028 and witness fastest growth in the global industry over the forecast period. This is mainly due to the rising economies in countries such as India, China, and South Korea. In addition, these countries are experiencing substantial economic expansion and have increased smartphone prevalence and fast connectivity, which is predicted to boost the regional market growth in the coming future.
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Top 10 Key Players in the Global Payment Analytics Software Market
- ProfitWell
- BlueSnap
- Databox
- Payfirma
- Yapstone
- CashNotify
- HiPay Intelligence
- PaySketch
- Revealytics
- RJMetrics.
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For instance, in November 2021, ACI Worldwide, a leading global provider of real-time digital payment software, launched 'Omni-Commerce Payment Analytics.' which offers merchants the ability to surface payments data that is gathered through multiple channels within a payment ecosystem of the merchant.
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More about Payment Analytics Software
How Could Payment Analytics Software Be So Effective and Beneficial Tool for Businesses Worldwide?
The Report Answers Questions such as related to Payment Analytics Software Market:
Q1. What is the size of the global payment analytics software market?
Q2. What is the best data analytics software?
Q3. Which region, among others, possesses greater investment opportunities in the near future?
Q4. What will be the growth rate of the Asia-Pacific payment analytics software market?
Q5. What are the strategies opted by the leading players in this market?
Q6. What is payment analytics?
Q7. What is a payment processing software?
Q8. What is a payment analytics software?
Q9. Why use payment analytics software?
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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