Payment Security Market Size, Share, Industry Trend Report 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Payment Security Market


The global payment security market size was estimated at USD 15.79 billion in 2017. It is expected to expand at a CAGR of 12.3% over the forecast period. Booming e-commerce and retail industry in Asia Pacific, need for PCI DSS compliance, increasing spending of consumers on travel and hospitality, and advent of artificial intelligence (AI) and machine learning are among the key trends stimulating market growth.
 
In addition, increasing adoption of electronic transactions and emergence of mobile-based payments such as Android pay and Apple pay and e-wallets such as Google wallet are projected to provide a fillip to the market.
Emergence of Internet of Things (IoT) is leading to several connected devices and wearables being fortified with payment capabilities. For instance, MasterCard has launched a platform to turn an array of consumer products, such as wristbands, key fobs, and jewelry, into payment devices. Visa Inc., is working on a connected car solution that will allow consumers to pay for various amenities such as fuel, parking, eateries, and others from the vehicle.
IoT is helping in improving the accuracy of financial rules and data modeling. Machine learning has reorganized traditional methods for payment transaction infrastructure. This helps in securing data and deliver protection to consumers while conducting online transactions, which is further likely to boost the growth of the market over the next few years.
Payment security providers are involved in research and development (R&D) and are focused on deriving other advanced solutions to provide payment security. The U.S. is an established consumer market and is focused on innovation. Companies such as PayPal and Apple Inc. have strong presence in the region.
Chatbot is the most recognized application of AI in financial services. Chatbots have covered wide range of industries and financial institutions. They have helped in reducing frauds and secure card and other payment data and reduce the complexity with multiple customers at a single point-of-time. Numerous banks and Fintech companies are utilizing chatbots for e-commerce and customer service applications. Deep learning and other artificial intelligence approaches are rapidly emerging as promising solutions to keep up with threats. Various market players such as PayPal is currently using AI to augment payment security.

Market Segmentation, Outlook & Viewpoint: Global Payment Security Market


Solution Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Encryption

Tokenization

Fraud Detection & Prevention


Platform Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Web based

POS based


Organization Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Small and Medium Enterprises

Large Enterprises


Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Retail & Ecommerce

Travel and Hospitality

Healthcare

Telecom & IT

Education

Media & Entertainment

Others


Key Players, Recent Developments & Regional Insights: Global Payment Security Market


The retail and e-commerce industry will be the leading revenue contributor throughout the forecast period. It accounted for of 28.0% of the overall market in 2017. Rising smartphone usage, adoption of 4G technology, and increasing consumer spending power are escalating the adoption of payment security solutions across the retail and e-commerce industry.
The travel & hospitality and media & entertainment industries are estimated to register a noteworthy CAGR during the forecast period. Increasing consumer spending and growing use of mobile payments and e-wallets are some of the factors contributing to market growth.

Regional Insights
The North America region is expected to hold the largest share in the overall market while Asia Pacific is anticipated to exhibit the highest CAGR over the forecast period. The growth in APAC can be attributed to widening base of retail & consumer goods startups across countries such as China, India, and Japan. Acceptance of mobile payments by consumers is resulting in increased adoption of digital payments across the region. Flourishing retail industry in China is one of the primary growth stimulants for the regional market.
The U.S. is at the forefront of growth in the North America market. With some of the prominent market players, such as Paypal, Bluefin, Braintree, and Elavon, headquartered, the region will continue to dominate the arena throughout the forecast horizon. Also, the major players in the market among others have their presence in the region.
Payment Security Market Share Insights
Some of the key companies operating in the market are Ingenico, Braintree, Bluefin, Index, Elavon, MasterCard, and CyberSource (Visa Inc.). Payment security providers and others payment related companies are also adopting Artificial Intelligence (AI) and machine learning solutions. For instance, PayPal is involved in providing AI based solutions.
Companies have adopted various key strategies such as partnerships, mergers and acquisitions, and new product launches. For instance, in April 2018, MasterCard partnered with IFC (a member of World Bank Group), to drive financial inclusion, updating a USD 250 million global risk-sharing facility to expand access to electronic payments in emerging markets.

Key Insights Covered: Global Payment Security Market
1.  North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Payment Security industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of Payment Security industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Payment Security industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Payment Security industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Payment Security industry.

Research Methodology: Global Payment Security Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
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