Press Release

Hosted Payment Gateway Segment dominates Payment Gateway Market

Government initiatives towards digitization and surging popularity of digital payments to drive the payment gateway market through 2024

According to TechSci Research report, Global Payment Gateway Market By Type, By Enterprise Size, By End-User, By Region, By Company, Competition, Forecast & Opportunities, 2024, the global payment gateway market is projected to grow at a CAGR of around 22% during 2024, on account of increasing penetration of internet which is aiding the 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 forecast period as well due to the introduction of 4G & 5G high speed internet technology. Moreover, growing inclination towards digital payments, easy-access and attractive cashbacks are further promoting the growth of global payment gateway market.   

Browse 20 market data Tables and 105 Figures spread through 110 Pages and an in-depth TOC on "Global Payment Gateway Market"

https://www.techsciresearch.com/report/payment-gateway-market/3780.html

Payment gateway market caters to various end-user such as travel & hospitality, retail, healthcare, education, government, utilities and others. Retail dominated the market in 2018 as major retail companies are adding payment gateway to their sites which is escalating the growth of the market. Based on the payment gateway type, hosted payment gateway dominates the global payment gateway market as these payments are user-friendly and are more secure. In terms of enterprise size, large enterprise accounted for the largest share on account of high transaction volume and value.

Among regions, Asia-Pacific payment gateway market is poised to grow at high rate during the forecast period, owing to increasing utilization of online business platforms by local vendors in economies such as India, China and government initiatives. PayPal Holdings, Stripe, Inc. Adyen N.V., Inc., Amazon Pay (Amazon.com, Inc.), Square, Inc., etc., are the major companies operating in the 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 in London.

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“Implementation of payment gateway across various end user segments, such as travel & hospitality, retail, healthcare, education, government, and utilities, among others, is increasing at a robust pace, owing to growing volume of payments done via digital means such as credit/debit cards, mobile phones, etc., 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 the 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, 2014 – 2024” has evaluated the future growth potential of 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 decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the global payment gateway market.


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