Global Payment as a Service Business Report 2023: A $40.6 Billion Market by 2030 - Platform Segment to Record a 13.8% CAGR

DUBLIN, July 27, 2023 /PRNewswire/ -- The "Payment as a Service - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global Payment as a Service Market to Reach $40.6 Billion by 2030

The global market for Payment as a Service estimated at US$12.8 Billion in the year 2022, is projected to reach a revised size of US$40.6 Billion by 2030, growing at a CAGR of 15.5% over the analysis period 2022-2030. Platform, one of the segments analyzed in the report, is projected to record 13.8% CAGR and reach US$30.2 Billion by the end of the analysis period. Taking into account the ongoing post-pandemic recovery, growth in the Services segment is readjusted to a revised 22.4% CAGR for the next 8-year period.

The U.S. Market is Estimated at $3.8 Billion, While China is Forecast to Grow at 14.8% CAGR

The Payment as a Service market in the U.S. is estimated at US$3.8 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$7 Billion by the year 2030 trailing a CAGR of 14.8% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 13.2% and 12.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 10.2% CAGR.

Market Scope

The report provides a comprehensive analysis of the global Payment as a Service market, considering different geographic regions. It covers the recent past, current, and future trends for the years 2022 through 2030, along with the annual sales in US$ Million and the compound annual growth rate (CAGR) for each region.

Additionally, an 8-year perspective is presented, showcasing the percentage breakdown of value sales for the years 2023 and 2030. The report also includes separate analyses for related categories such as Platform, Services, Retail & eCommerce, BFSI, Healthcare, Travel & Hospitality, and Other Verticals.

Furthermore, it presents an overview of the Payment as a Service market's growth over time, including data from 2014 through 2030. This comprehensive analysis offers valuable insights into the market's performance and growth potential across diverse geographic regions and sectors.

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of Covid-19 and a Looming Global Recession
• Payment as a Service - Global Key Competitors Percentage Market Share in 2022 (E)
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)

Select Competitors (Total 34 Featured)

• Agilysys Inc.
• Alpha Fintech
• Aurus
• First American Payments Systems
• First Data (Fiserv Inc.)
• FIS
• Ingenico
• PaySafe
• Pineapple Payments
• TSYS (Global Payments Inc.)
• Verifone

What's New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its 'bumpy' reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies - Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Looking Ahead to 2023

Higher retail inflation will impact consumer confidence and spending. As governments combat inflation by raising interest rates, new job creation will slowdown and impact economic activity and growth. Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand.

With slower growth and high inflation, developed markets seem primed to enter into a recession. Fears of new COVID outbreaks and China's already uncertain post-pandemic path poses a real risk of the world experiencing more acute supply chain pain and manufacturing disruptions this year.

Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced. The year 2023 is expected to be a tough year for most markets, investors and consumers. Nevertheless, there is always the opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.

 
For more information about this report visit https://www.researchandmarkets.com/r/9a1dtl

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SOURCE Research and Markets