The global payment security market size was valued at $17.64 billion in 2020, and is projected to reach $60.56 billion by 2030, growing at a CAGR of 13.2% from 2021 to 2030.
The global payment security market is experiencing significant growth driven by several factors. There is a growing demand for payment security solutions from online and e-commerce companies, as they seek to protect sensitive customer information. Additionally, the major digital transformation of payment methods is fueling the need for robust security measures.
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The rise in fraudulent activities in the e-commerce sector further emphasizes the importance of payment security. Moreover, the increasing adoption of mobile payment solutions and the expanding number of internet users are contributing to market growth.
However, certain challenges hinder the market’s full potential. The lack of trust in online payments and the high cost associated with implementing payment security solutions restrain market growth to some extent.
Nevertheless, the growing use of payment applications across various sectors presents new opportunities for the market in the coming years. This indicates a positive outlook for the global payment security market as organizations recognize the importance of secure payment processing in the digital landscape.
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Based on component, the solution segment held the highest market share in 2020, holding more than three-fifths of the total market share, and is expected to continue its leadership status during the forecast period. Moreover, the service segment is estimated to register the highest CAGR of 14.3% from 2021 to 2030.
Based on enterprise size, the large enterprises segment held the largest market share in 2020, holding more than two-thirds of the total market share, and is expected to continue its leadership status during the forecast period. However, the SMEs segment is projected to register the highest CAGR of 14.9% from 2021 to 2030.
Based on region, North America contributed to the highest share in terms of revenue in 2020, holding nearly two-fifths of the total market share, and is estimated to continue its dominant share by 2030. Moreover, Asia-Pacific is projected to manifest the fastest CAGR of 15.4% during the forecast period. Other regions discussed in the report include Europe and LAMEA.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global payment security market forecast along with the current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global payment security market trends is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2021 to 2030 is provided to determine the market potential.
| Aspects | Details |
|---|---|
| By Component | Solution Encryption Tokenization Fraud Detection & Prevention Service |
| By Platform | Web-based POS-based |
| By Enterprise size | Large Enterprises Small and Medium Enterprises |
| By Industry Verticals | BFSI Government & Utilities IT & Telecom Healthcare Retail & E-Commerce Media & Entertainment Travel & Hospitality Others |
| By Region | North America (U.S., Canada) Europe (UK, Germany, France, Spain, Italy, Rest of Europe) Asia-Pacific (China, India, Japan, South Korea, Australia, Rest of Asia-Pacific) LAMEA (Latin America, Middle East, Africa) |
| By Key Market Players | Bluefin Payment Systems Cybersource Elavon Inc. Ingenico. Intelligent Payment Solutions Pvt Ltd. Paypal Shift4 Payments, LLC SISA Signifyd Tokenex |
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