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Digital Payment Market Future Growth, Competitive Analysis and Forecast 2029

Submitted by manasi05 on Tue, 01/03/2023 - 00:07

Digital Payment Market Overview:

The Digital Payment market research provides a comprehensive insight into the competition, including the market share and company profiles of the world's biggest rivals. The research scope covers a comprehensive examination of the Digital Payment Market, as well as the causes for variances in the industry's growth across a variety of sectors.

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Anticipated Revenue Growth:

Digital Payment Market was valued at USD 69.55 Billion in 2021, and it is expected to reach USD 285.38 Billion by 2029, exhibiting a CAGR of 19.3 % during the forecast period (2022-2029).

Digital Payment Market Scope:

Top-down and bottom-up approaches are used to validate market size and estimate market size by segment. The market estimations in the research are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). Weights based on usage rate and average sale price are applied to each area to generate percentage splits, market shares, and segment breakdowns. The country-wise divisions of the overall market and its sub-segments are determined by the percentage adoption or usage of the specified market Size in the relevant area or nation.

Digital Payment Market Segmentation:

According to solution, the payment processing sector, which accounted for around 25.0% of worldwide revenue in 2021, dominated the digital payment market. As consumers' desire for online shopping expands throughout the world, retailers are implementing payment processing systems to offer seamless checkout experiences to customers. Players who offer payment processing solutions are focusing on mergers and acquisitions as well as collaborations to increase their market share. For instance, PayU bought Red Dot Payment, a provider of payment solutions, in July 2019 to strengthen its position in Singapore.

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Key Competitors:

Primary and secondary research is used to identify market leaders, and primary and secondary research are used to calculate market revenue. In-depth interviews with important thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives were conducted as part of the primary study. Primary research comprised in-depth interviews with key thought leaders and industry professionals such as experienced front-line staff, CEOs, and marketing executives, while secondary research included a review of the main manufacturers' annual and financial reports. Secondary data is used to determine percentage splits, market shares, growth rates, and worldwide market breakdowns, which are then cross-checked with primary data.

The biggest players in the Digital Payment market are as follows:

• Total System Services, Inc.
• Wirecard AG
• Novetti Group Limited
• PayPal Holdings Inc.
• ACI Worldwide Inc.
• Adyen N.V.
• Aurus
• Aliant Payments
• Alipay
• Apple Pay
• Dwolla
• FattMerchant

Regional Analysis:

Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Digital Payment market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.

COVID-19 Impact Analysis on Digital Payment Market:

End-user industries where Digital Payment are utilized saw a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, and the United States, as well as Spain, France, and India, due to a halt in operations. This resulted in a significant decrease in the revenues of enterprises in these industries, as well as in demand for Digital Payment manufacturers, harming the Digital Payment market's growth in 2020. End-user business demand for Digital Payment has decreased as a result of lockdowns and an increase in COVID-19 occurrences throughout the world.

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Key Questions Answered in the Digital Payment Market Report are:

In 2021, which segment accounted for the most share of the Digital Payment market?
What is the competitive landscape of the Digital Payment market?
What are the key factors influencing Digital Payment market growth?
In the Digital Payment market, which region has the most market share?
What will be the CAGR of the Digital Payment market during the forecast period (2022-2029)?
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