Uploaded on Apr 30, 2020
The global online payment gateway market is anticipated to expand at a 12.8% CAGR from 2018 to 2023 (forecast period)
Online Payment Gateway Market Share
Market Highlights
The convenience factor of online payments is estimated to benefit the overall growth of the online
payment gateway market 2020. The information & communication technology industry reports
produced by Market Research Future, which highlights market options for expansion. A USD 124.64
billion income with the aid of the CAGR of 12.8% is predicted for the market in the forecast period.
The accessibility to the internet and the availability of devices such as smartphones and laptops are
estimated to guide the market in the forecast period. The diversity in financial transaction options
is estimated to motivate the online payment gateway market in the impending period.
Segmentation:
The segmental investigation of the online payment gateway market is conducted on the basis of
types, applications, and regions. Based on the type, the online payment gateway market comprises
of local bank integrates, pro/self-hosted payment gateways, platform-based gateway solutions, and
others. On the basis of application, the online payment gateway market consists of mid-size
enterprises, micro & small enterprises, and large enterprises. Based on the region, the online
payment gateway market consists of Asia Pacific (APAC), North America, Europe, and the rest of the
regions.
Detailed Regional Analysis
The regional assessment of the online payment gateway market share consists of Asia Pacific
(APAC), North America, Europe, and the rest of the regions. The dominating region in the online
payment gateway market is North America, which is trailed by Europe and the Asia Pacific. The
growing number of transactions on e-commerce platforms employing digital payment methods
such as debit cards, credit cards, and m-commerce is motivating the market development in the
region. The development of the market is also due to increased digitization in countries such as the
United States and Canada. The U.S. is among the most advanced economies in the North American
region and adds significantly to the augmentation of the online payment gateway market. The
European region has controlled the subsequent largest market stake due to the incidence of
international players and speedy development in the field of technology, sustaining the market
augmentation in the region. The region in APAC is predicted to observe extraordinary market
growth as well, due to the development of micro and small enterprises along with an escalating
number of customers using online shopping in the up-and-coming economies.
Competitive Analysis
The market is expected to record a stable growth rate in the coming years. The market competitors
are expected to play a key role in the development of the global market. The development of
adequate sources of raw material is predicted to transform the market in the upcoming period
further. The availability of strong government support and the presence of encouraging policies is
expected to enliven the growth prospects in the approaching period. The incidence of options that
can be favorably capitalized on is aiding the market players in improving their overall position in
the market. The balance in demand and supply in the market will prove as an encouraging growth
factor in the forecast period. The competition in the market is manageable, which is inducing the
entry of new players in the global market. The upgrades in production methods are estimated to
transform the potential of the market in the forecast period.
The outstanding contenders in the online payment gateway market are Adyen NV (Netherlands),
Amazon.com, Inc. (U.S.), First Data Corp. (U.S.), CASHU (UAE), Stripe (U.S.), Tencent Holdings Ltd.
(China), Worldpay, Inc. (U.S.), Global Payments, Inc. (US), GMO Payment Gateway, Inc. (Japan),
Verizon Communications, Inc. (U.S.), Alibaba Group Holding Ltd. (China), 2Checkout.com, Inc. (U.S.),
Visa, Inc. (U.S.), CCBill, LLC (U.S.), PayPal Holdings, Inc. (U.S.), Naspers Ltd. (South Africa),
SecurePay Pty Ltd. (Australia), and Wirecard AG (Germany).
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