Global Payment Gateway Market Anticipated to Garner a Revenue of $67,434.4 Million by 2028, Growing at a CAGR of 16.6% from 2021-2028 - Exclusive Report [223-Pages] by Research Dive

- The global payment gateway market is expected to witness a progressive growth by 2028, owing to prevalence of high-speed internet. The hosted sub-segment is predicted to be most lucrative. The Asia-Pacific region is expected to dominate the market.

NEW YORK, Oct. 4, 2021 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Payment Gateway Market by Type (Hosted and Non-hosted), Enterprise Size (Small & Medium Enterprise (SME) and Large Enterprise), End-use (Travel & Hospitality, BFSI, Retail & E-Commerce, and Media & Entertainment, and Others), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2021–2028".

According to the report, the Global Payment Gateway Market is expected to generate a revenue of $67,434.4 million by 2028, growing exponentially at a CAGR of 16.6% during the forecast period (2021-2028).

Download PDF Sample Report of Payment Gateway Market

Dynamics of the Market

There has been a consequent increase in the demand for smartphone payment transactions, owing to the speed, conveniency, and reliability in the process of the transaction. In addition, the rising demand for online shopping has significantly bolstered the e-commerce sales. These factors are expected to drive the growth of the payment gateway market during the forecast period. But lack of internet access in the underdeveloped countries is expected to restrain the growth of the market during the forecast period. However, persistent technological enhancements in the payment gateways and its extensive utilization in the banking, financial services, and insurance (BFSI) sector is expected to create tremendous opportunities for the growth of the market during the forecast period.

Segments of the Market

The report has divided the market into various segments based on type, enterprise size, end-use, and region.

• By type, the hosted sub-segment is expected to be most profitable, and generate a revenue of $38,088.6 million during the forecast period. Hosted payment gateways are popularly used for online billing and payments due to their speed, accuracy and reliability. This factor is expected to accelerate the growth of the payment gateway market sub-segment during the forecast period.
• By enterprise size, the large enterprise sub-segment is expected to have the largest market share, and generate a revenue of $43,389.9 million during the forecast period. Subsequent rise in online shopping, owing to the increased standard of living of people around the globe has enabled large-scale firms to adopt an effective digital transaction technique and payment processing platform. This factor is expected to drive the growth of the sub-segment during the forecast period.
• By end-use, the BFSI sub-segment is expected to be most lucrative, and generate a revenue of $22,014.5 million during the forecast period. Increasing adoption and development of payment gateways by financial institutions in order to expand their offerings and provide a seamless service to customers are predicted to bolster the growth of the sub-segment during the forecast period.
• By region, the Asia Pacific region is anticipated to dominate the market, and generate a revenue of $25,652.0 million during the forecast period. High transaction rate due to the massive population in this region and increasing investments from various domestic and international enterprises in this region is further expected to augment the growth of the regional market during the forecast period.                                                    

Get Copy of Competitive intelligence Report on Payment Gateway Market players in the Asia Pacific region - Get Special Discount of 20% available on a *first-come-first-served basis

Positive Impact of COVID-19 on the Payment Gateway Market

The COVID-19 outbreak has had a positive impact on the growth of the global payment gateway market, owing to the prevalence of lockdowns in various countries across the globe. More and more people refrained from cash transactions, and hence adopted cashless transactions in order to curb the spread of the virus. Thus, the pandemic has had a tremendous impact on the growth of the market.

Access our comprehensive analysis of the IMPACT OF COVID-19 ON PAYMENT GATEWAY MARKET    

Top 10 Key Players of the Payment Gateway Market

The prominent players of the payment gateway market include

1. FIS (Worldpay)
2. PayU
3. PayPal Holdings, Inc.
4. FISERV
5. Mastercard
6. Visa Inc.
7. STRIP
8. Amazon.com, Inc.
9. BitPay
10. JPMorgan Chase & Co., and many more.

- Inquire and Get Quick Access to Top Companies Development Strategies Summary Report

These players are working on developing strategies such as product development, merger and acquisition, partnerships and collaborations to sustain the market growth.

For instance, in July 2019, PayU, a global payment and fintech company, acquired Red Dot Payment, a Southeast Asia-focused online payment solutions provider, for about $65 million in order to maximize its presence in the Asian payment gateway market.

The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.

They are focusing on advanced product developments and merger & acquisition. These are some of the strategies conducted by the startups as well as established business organizations. 

More about Payment Gateway:

• How do Payment Gateways Act as a Catalyst to Drive E-Commerce Businesses?
• Payment Gateway Industry Experiences Rapid Evolution with Rising Digitalization

Related Trending Topics:

1. Blockchain in Supply Chain Market: Global Opportunity Analysis and Industry Forecast, 2021–2028 - Request an Exclusive PDF Sample Report
2. RFID Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 - Request an Exclusive PDF Sample Report
3. Gaming Simulator Market: Global Opportunity Analysis and Industry Forecast, 2019–2026 - Request to Download a Sample Report

About Research Dive:

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.

Contact Us:

Mr. Abhishek Paliwal
Research Dive
30 Wall St. 8th Floor, New York NY 10005
(P) +91-(788)-802-9103 (India)
Toll Free: 1-888-961-4454
E-mail: support@researchdive.com 
Website: https://www.researchdive.com 
Blog:  https://www.researchdive.com/blog/ 
LinkedIn: https://www.linkedin.com/company/research-dive/ 
Twitter: https://twitter.com/ResearchDive 
Facebook: https://www.facebook.com/Research-Dive-1385542314927521

Logo: https://mma.prnewswire.com/media/997523/Research_Dive_Logo.jpg