Dublin, June 17, 2022 (GLOBE NEWSWIRE) — The Payments Global Market Report 2022 has been added to from ResearchAndMarkets.com offer.
The global payments market is expected to grow from $511.87 billion in 2021 to $572.06 billion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The market is expected to reach $870.09 billion in 2026 at a CAGR of 11.1%.
Asia Pacific was the largest payments market region in 2021. Western Europe was the second largest payments market region.
The increase in payment fraud has impacted the growth of the payment market. Payment fraud is a form of fraudulent or illegal transaction carried out by a cybercriminal. Fraudsters use third-party platforms such as e-commerce portals to scam consumers into paying for products or items that never ship. According to Merchant Savvy, global payment fraud losses tripled to $32.39 in 2020 and are expected to continue to cost $40.62 billion in 2027, 25% more than in 2020. Hence, the increase in fraud cases is hampering the growth of the payments market.
The integration of biometric authentication technology into payments is a key trend that is gaining popularity in the payment market. Biometric authentication is a specific and important payment method that integrates and offers accuracy, efficiency and protection within a single package. Authentication methods include fingerprint scanners, facial recognition, iris recognition, pulse tracking, and vein mapping. For example, in January 2022, Apple Inc., a US-based payments company, introduced an iOS 15.4 beta periocular biometrics that allows Face ID to be used with a mask and without an Apple Watch for biometric authentication. .
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces historical and forecast market growth by geography. It places the market in the context of the broader payments market and compares it to other markets.
The market characteristics section of the report defines and explains the market
The market size section gives the market size (in billions of dollars) covering both historical market growth, impact of COVID-19 virus and forecast of its recovery
Market segmentations break down the market into submarkets
The regional and country breakdowns section gives an analysis of the market in each geography and the market size by geography and compares their historical and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, major developed countries and major emerging markets
The competitive landscape gives a description of the competitive nature of the market, market shares and a description of the major companies. The main financial transactions that have shaped the market in recent years are identified
The trends and strategies section analyzes the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers
The payments market section of the report provides context. It compares the payments market with other segments of the payments market by size and growth, historical and forecast
By type: transfer; Debit; Payment by check ; Cash deposit
By application: Banks; Non-Banking Financial Institutions; Other Apps
By end-user industry: retail; Banking and financial services; Telecommunication; Government; Transportation; Other end users
Main topics covered:
2. Characteristics of the payments market
3. Payments Market Trends and Strategies
4. Impact of COVID-19 on payments
5. Payments Market Size and Growth
5.1. Historical global payments market, 2016-2021, billions of dollars
5.2. Global Payment Forecast Market, 2021-2026F, 2031F, Billion USD
6. Payments market segmentation
6.1. Global Payments Market, Segmentation by Type, History and Forecast, 2016-2021, 2021-2026F, 2031F, Billion USD
Payment by check
6.2. Global Payments Market, Segmentation by Application, History and Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
6.3. Global Payments Market, Segmentation by End-User Industry, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
7. Regional and Country Analysis of the Payments Market
7.1. Global Payments Market, Split by Region, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
7.2. Global Payments Market, Split by Country, Historical & Forecast, 2016-2021, 2021-2026F, 2031F, USD Billion
8. Payments Market Competitive Landscape and Company Profiles
8.1. Payments Market Competitive Landscape
8.2. Profiles of companies in the payments market
9. Major mergers and acquisitions in the payments market
10. Payments Market Future Outlook and Potential Analysis
For more information about this report visit https://www.researchandmarkets.com/r/e32e1n
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