According to TechSci Research
report, “Global Payment Gateway Market By Type, By Enterprise Size, By End-User, By Region, Competition,
Forecast & Opportunities, 2024”, global payment
gateway market is projected to grow at a CAGR of over 8% during 2019-2024, on
account of increasing internet penetration, which is aiding growing demand for
online transactions. The number of internet users grew at a notable rate in the
last five years and the trend is likely to continue during the forecast period,
owing to the introduction of 5G high-speed internet technology. Moreover,
growing inclination towards digital payments, easy- access and attractive
cashbacks are promoting the growth of global payment gateway market.
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Payment gateway market caters
to various end-users such as travel & hospitality, retail, healthcare,
education, government, utilities and other industries. Retail sector dominated
the market in 2018, as major retail companies are adding payment gateway to their
sites. Based on the payment gateway type, hosted payment gateway dominates the
global payment gateway market, owing to the fact that these payment gateways
are user-friendly and more secure. In terms of enterprise size, large
enterprises accounted for the leading market position, due to high transactions
in volume and value terms.
PayPal Holdings, Inc., Amazon Pay (Amazon.com, Inc.), Stripe, Inc. Adyen
N.V. and PayU Group are the major companies operating in global payment gateway
market. Companies operating in the online payment gateway market are
collaborating, launching new services and expanding to different regions, for
instance, Alipay expanded its payment service to London. Asia-Pacific payment
gateway market is poised to grow at a high rate during the forecast period,
owing to increasing utilization of online business platforms by local vendors
in economies such as India and China.
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data Tables and XX Figures spread through XXX Pages and an in-depth TOC on
" Global Payment Gateway Market "
“Implementation of payment
gateway across various end user segments, such as travel & hospitality,
retail, healthcare, education, government and utilities is increasing at a
robust pace, owing to growing volume of payments done via digital means such as
credit/debit cards and mobile phones in these sectors. Moreover, growing
awareness among people about online payments and increasing proliferation of
smartphones would further steer growth in global payment gateway market in
coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research,
a research based global management consulting firm.
“Global Payment Gateway Market By Type, By
Enterprise Size, By End-User, By Region, Competition, Forecast &
Opportunities, 2024” has evaluated the future
growth potential of global payment gateway market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in global payment gateway market.
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