Payment Orchestration Platform Market to Grow with a CAGR of 24.16% Globally through to 2028
Payment Orchestration Platform market is increasing
due to increasing due to the rising adoption of cloud, IoT and mobile
technologies in the forecast period, 2024-2028.
According to TechSci Research report, “Global Payment
Orchestration Platform Market - Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028
Global Payment Orchestration Platform market has
witnessed tremendous growth in recent years, reaching a valuation of USD 1.13
billion in 2022. The market is projected to continue its strong upward
trajectory, posting a CAGR of 24.16% from 2024 to 2028. Payment Orchestration Platform market is experiencing
significant growth worldwide driven by increasing adoption among enterprises.
Organizations are recognizing the transformational role Payment Orchestration
Platform solutions can play in enabling new capabilities across key functions
like automating processes, driving insights from data analytics, enhancing
cybersecurity and improving customer experience. Companies are making strategic investments in Payment
Orchestration Platform technologies to develop innovative use cases and
optimize operations. Advancements in Payment Orchestration Platform
technologies such as GPUs, FPGAs and ASICs have made AI applications more
powerful, scalable and affordable. As a result, enterprises are rapidly
adopting next-generation Payment Orchestration Platform solutions to gain
competitive advantage through advanced analytics tools and productivity
enhancements.
Adoption is also fueled by evolving corporate
strategies focusing on leveraging AI and Payment Orchestration Platform for
strategic benefits. Businesses now understand the value these technologies
provide for applications in predictive maintenance, demand forecasting, fraud
detection, personalized marketing, and talent analytics. This shift is driving
rising demand from enterprises looking to integrate AI throughout their
processes.
Continued innovation is also propelling market growth.
Improvements in Payment Orchestration Platform architectures, memory, interconnects,
and programming frameworks have enhanced AI platform capabilities. Companies
can develop robust, data-driven and adaptable AI solutions optimized for
specific industry needs. As businesses continue discovering new potential uses
and values of Payment Orchestration Platform, the long-term outlook for
sustained robust market expansion remains positive. Payment Orchestration
Platform powered technologies have become critical enablers of digital
transformation and competitive strategies globally. The market is thus poised
for strong growth as adoption accelerates across industries.
Browse over 26 market data Figures spread
through 91 Pages and an in-depth TOC on "Global Payment Orchestration Platform Market.”
Global Payment Orchestration Platform Market can be
segmented based on deployment type, component, and end-user industry. Based on
deployment type, the market is segmented into on-premises and cloud-based
platforms. The cloud-based segment currently dominates and is expected to grow
at a higher rate during the forecast period due to advantages such as
scalability, low cost of ownership, and easy maintenance offered by cloud-based
platforms.
In terms of components, the market covers payment
gateway integration, payment gateway optimization, payment routing, reporting
and analytics, and risk management and fraud prevention. Payment gateway
integration and optimization currently hold the largest share as they enable
merchants to securely accept payments through a single API. Reporting and
analytics is expected to be the fastest growing segment as it provides
merchants with insights to optimize payment processes.
When segmented by end-user industry, the major
segments include retail, e-commerce, healthcare, banking, financial services
and insurance, gaming and entertainment, and others. The retail and e-commerce
segments currently dominate due to the high volume of online and in-store
transactions processed. The healthcare segment is expected to grow at the
highest CAGR during the forecast period. This is owing to initiatives for
digitizing healthcare payments and an increased focus on reducing medical claim
processing time and costs.
In summary, the cloud-based deployment type, payment
gateway integration and optimization components, and healthcare end-user
industry segments currently have the largest shares in the market. Meanwhile,
the cloud, reporting and analytics, and healthcare segments are poised to grow
the fastest during the forecast period.
Major companies operating in Global Payment
Orchestration Platform Market are:
- Imperva
- PayPal Holdings, Inc.
- FISERV, INC.
- Fidelity National Information Services,
Inc
- ACI Worldwide, Inc
- Wirecard AG
- Mastercard Incorporated
- Visa Inc
- Worldline SA
- Temenos Headquarters SA
- Total System Services, Inc
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“The global Payment Orchestration Platform market is
experiencing significant growth due to advances in enabling technologies and
widespread adoption across organizations. Breakthroughs in areas such as
artificial intelligence, analytics, cloud computing and internet of things have
expanded the capabilities of Payment Orchestration Platform solutions. These
platforms can now generate actionable insights, predictions and personalized
recommendations to support diverse business applications at scale.
Companies are recognizing Payment Orchestration
Platform solutions as strategic tools that can transform beyond being
supplementary technologies. Software solutions are becoming integral to
strategic planning and decision making processes. By collecting and analyzing
large amounts of employee data, talent management platforms powered by Payment
Orchestration Platform allow organizations to deeply customize learning,
performance management and experiences for individual employees and teams. This
level of personalized engagement is revolutionizing how businesses develop and
engage their workforce.
Adoption of Payment Orchestration Platform solutions
is no longer limited to just large enterprises. Even small and medium
enterprises are investing in these platforms to attract and retain top talent.
Vendors continue to innovate through research and development activities to
address the evolving needs of diverse organizations and industries.
Regulatory bodies are developing frameworks around
data privacy and security to ensure ethical standards are upheld, fostering
healthy competition and allowing innovation to thrive.
Driven by ongoing technological advancements, growing
acceptance of data-driven strategies, and a strong focus on continuous
innovation, the Payment Orchestration Platform market is well-positioned for
sustained expansion. As AI and analytics become core capabilities, solutions
are cementing their role as indispensable tools to transform digital
experiences and optimize workforce management across all enterprise sizes and
sectors. The future outlook for the Payment Orchestration Platform industry
remains very promising.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based management consulting firm.
“Payment Orchestration Platform Market – Global
Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented
by Deployment Type (On-Premises, Cloud-Based) By Component (Payment
Gateway Integration, Payment Gateway Optimization, Payment Routing, Reporting and Analytics, Risk
Management and Fraud Prevention), By End-User Industry (Retail, E-commerce, Healthcare,
Banking, Financial Services, and Insurance (BFSI), Gaming and Entertainment,
Others), By
Region, By Competition”, has evaluated
the future growth potential of Global Payment Orchestration Platform 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 Orchestration Platform Market.
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