Global Electronic Payment (Epayment) System Market, By Solution (Payment Terminal Solution, Hosted Point-Of-Sale, Security and Fraud Management, Transaction Management and Analytics), End-User (Retail, Banking and Financial Services, Telecommunication, Healthcare, Hospitality, Transportation, Government), Payment Mode (Point of Sale, Online Sale), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa) - Industry Trends and Forecast to 2030.
Electronic Payment (Epayment) System Market Analysis and Size
The global electronic payment (ePayment) system market is segmented on the basis of solution, payment mode and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
Data Bridge Market Research analyses that the global electronic payment (ePayment) system market which was USD 41,800 million in 2022, would rocket up to USD 53,440 million by 2030, and is expected to undergo a CAGR of 20.1% during the forecast period. This indicates the market value. “Payment Terminal Solution” dominates the solution segment of the global electronic payment (ePayment) system market due to payment terminal solutions provide a convenient and accessible way for customers to make electronic payments. These terminals are widely available in various locations, such as retail stores, restaurants, and other businesses, making it easy for customers to make transactions using their preferred payment methods. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Electronic Payment (Epayment) System Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021(Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Solution (Payment Terminal Solution, Hosted Point-Of-Sale, Security and Fraud Management, Transaction Management and Analytics), End-User (Retail, Banking and Financial Services, Telecommunication, Healthcare, Hospitality, Transportation, Government), Payment Mode (Point of Sale, Online Sale)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa
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Market Players Covered
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PayU (Netherlands), PayPal (U.S.), Google LLC (U.S.), Amazon Inc. (U.S.), Thales Group (France), Visa Inc. (U.S.), Wipro Limited (India), Heartland (U.S.), wirecard (Germany), General Electric (U.S), VLNComm (U.S.), On Track Innovations LTD (Israel)
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Market Opportunities
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Market Definition
The electronic payment (ePayment) system refers to the market encompassing various digital platforms and technologies that enable electronic transactions and payments. It includes online payment gateways, mobile payment solutions, point-of-sale (POS) systems, payment terminals, and other infrastructure components facilitating secure and efficient electronic transactions.
Global Electronic Payment (Epayment) System Market Dynamics
Drivers
- Increasing Digitalization
The widespread adoption of digital technologies and the growing internet penetration have accelerated the shift toward electronic payment systems. Consumers and businesses are embracing the convenience, speed, and accessibility offered by ePayment solutions.
- Rise in E-commerce
The exponential growth of the e-commerce industry has been a major driver for ePayment systems. With more people shopping online, the need for secure and seamless electronic payment options has increased significantly.
- Mobile Payment Adoption
The proliferation of smartphones and mobile devices has driven the adoption of mobile payment solutions. Mobile wallets, contactless payment, and other mobile-based payment methods have gained popularity due to their convenience and ease of use.
Opportunities
- Emerging Markets
Developing economies with a growing middle class and increasing internet penetration offer significant opportunities for ePayment system providers. These markets often have a large unbanked population, creating a demand for accessible and inclusive electronic payment solutions.
- Contactless Payments
The COVID-19 pandemic has accelerated the adoption of contactless payments, driven by hygiene concerns and changing consumer preferences. This presents an opportunity for ePayment system providers to offer innovative contactless payment solutions and tap into the expanding market.
Restraint/Challenge
- Security and Fraud Concerns
As digital transactions increase, so do the risks associated with cybersecurity and fraud. Ensuring robust security measures and building trust among users remain critical challenges for ePayment system providers.
- Infrastructure and Connectivity
Reliable internet infrastructure and connectivity are essential for the seamless operation of ePayment systems. In regions with inadequate infrastructure or limited access to the internet, the adoption and effectiveness of ePayment systems may be constrained.
This global electronic payment (ePayment) system market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the variable frequency drive market, contact the Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.
Recent Developments
- In May 2022: Google Pay expanded its services in India by launching tokenized cards in collaboration with Visa and banking partners. This allows users to make contactless payments using their smartphones.
- In March 2023, PayPal announced its plans to acquire Curv, a leading provider of cloud-based infrastructure for digital asset security. This move aims to enhance PayPal's capabilities in the cryptocurrency and digital asset space.
Global Electronic Payment (Epayment) System Market Scope
The global electronic payment (ePayment) system market is segmented on the basis of solution, payment mode and end-user. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Solution
- Payment Terminal Solution
- Hosted Point-Of-Sale, Security
- Fraud Management
- Transaction Management
- Analytics
End-User
- Retail
- Banking and Financial Services
- Telecommunication
- Healthcare
- Hospitality
- Transportation
- Government
Payment Mode
- Point of Sale
- Online Sale
Global Electronic Payment (Epayment) System Market Country Analysis/Insights
The global electronic payment (ePayment) system market is analyzed, and market size insights and trends are provided by country, solution, payment mode and end-user, as referenced above.
The regions covered in the global electronic payment (ePayment) system market are North America, South America, Europe, Asia-Pacific, and the Middle East and Africa. The countries covered in the global electronic payment (ePayment) system market report are U.S., Canada, Mexico, Brazil, Argentina, the Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of the Middle East and Africa.
North America is expected to dominate the electronic payment (ePayment) system market and will continue to flourish its trend of dominance due to technological advancement and the presence of major key players in this region. Asia-Pacific is expected to grow during the forecast period of 2022-2029 due to the high adoption rate of online payment systems due to the rising use of smartphones and internet penetration in this region.
The region section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Electronic Payment (Epayment) System Market Share Analysis
The global electronic payment (ePayment) system market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the global electronic payment (ePayment) system market.
Some of the major players operating in the global electronic payment (ePayment) system market are:
- PayU (Netherlands)
- PayPal (U.S.)
- Google LLC (U.S.)
- Amazon Inc. (U.S.)
- Thales Group (France)
- Visa Inc. (U.S.)
- Wipro Limited (India)
- Heartland (U.S.)
- wirecard (Germany)
- General Electric (U.S)
- VLNComm (U.S.)
- On Track Innovations LTD (Israel)
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