Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for global professionals · Wednesday, February 21, 2024 · 690,339,666 Articles · 3+ Million Readers

Global Payments Market Poised for Robust Growth, Expected to Reach $847.59 Billion by 2027

Payments Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

Payments Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The Business Research Company’s Payments Global Market Report 2023 – Market Size, Trends, And Global Forecast 2023-2032

The market size of the global payments is expected to grow to $847.59 billion in 2027 at a CAGR of 8.5%.”
— The Business Research Company

LONDON, GREATER LONDON, UK, December 11, 2023 /EINPresswire.com/ -- The global payments market is set to witness substantial growth, with the market size projected to increase from $561.77 billion in 2022 to $612.04 billion in 2023, reflecting a compound annual growth rate (CAGR) of 8.9%. Over the forecast period, the market is anticipated to maintain its momentum, reaching an impressive size of $847.59 billion by 2027, at a CAGR of 8.5%.

Key Segments: Diverse Payment Types and Applications
1.Type: The market encompasses various payment types, including Credit Transfer, Direct Debit, Check Payment, and Cash Deposit, catering to diverse financial transactions.
2.Application: Payments are integral to numerous sectors, with applications spanning Banks, Non-Banking Financial Institutions, and Other Applications, ensuring a wide-ranging impact.
3.End-user Industry: Various industries rely on payment services, such as Retail, Banking and Financial Service, Telecommunication, Government, Transportation, and Other End Users, fostering a comprehensive ecosystem.

Explore the global payments market with a detailed sample report:
https://www.thebusinessresearchcompany.com/sample_request?id=107&type=smp

Market Dynamics: Impact of COVID-19 Driving Contactless Payments
The outbreak of COVID-19 is expected to be a significant driver for the growth of the payments market. With the current pandemic situation, contactless payments have gained traction as a preferred method due to reduced human contact. Utilizing contactless payment systems at points of service, including facial recognition, Quick Response (QR) codes, or Near-field Communication (NFCs), minimizes the risk of virus transmission. Notably, Mastercard reported a 40% increase in contactless payments in the first quarter of 2020, indicating the growing preference for this payment method.

Major Players and Market Participants
Key players contributing to the payments market include PayPal, Square Inc., Apple Inc., Amazon Payments, Flagship Merchant Services, GoCardless, Bitpay, Stripe, Payline Data, FIS., ACI Worldwide, MasterCard, and Fiserv. These industry leaders play a pivotal role in shaping market dynamics, driving innovation, and expanding the reach of payment services.

Regional Insights: Asia-Pacific Leads, Western Europe Follows
Asia-Pacific emerged as the largest region in the payments market in 2022, showcasing robust market adoption. Western Europe secured the second-largest market position, indicating significant presence and growth. The global payments market analysis report covers regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Access the complete report for an in-depth analysis of the global payments market:
https://www.thebusinessresearchcompany.com/report/payments-global-market-report

Payments Global Market Report 2023 from TBRC covers the following information:
•Market size date for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Payments Global Market Report 2023 by The Business Research Company is the most comprehensive report that provides insights on payments market size, payments market drivers and trends, payments market major players, competitors' revenues, market positioning, and market growth across geographies. The payments market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

Browse Through More Similar Reports By The Business Research Company:
Lending And Payments Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/lending-and-payments-global-market-report

Mobile Payment Technologies Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/mobile-payment-technologies-global-market-report

Digital Payments Global Market Report 2023
https://www.thebusinessresearchcompany.com/report/digital-payments-global-market-report

About The Business Research Company
The Business Research Company has published over 3000+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Global Market Model – Market Intelligence Database
The Global Market Model, The Business Research Company’s flagship product, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets that help its users assess supply-demand gaps.

Contact Information
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

Check out our:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Oliver Guirdham
The Business Research Company
+44 20 7193 0708
info@tbrc.info
Visit us on social media:
Facebook
Twitter
LinkedIn

Automotive Fuel Injector Market Share, Key Insights And Trends Report 2032

Powered by EIN Presswire


EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release