Global Payment Security Market to Reach USD 47.02 Billion by 2028; Rising Adoption of Digital Payment Methods | Markets N Research

Chicago, Nov. 28, 2022 (GLOBE NEWSWIRE) -- The global payment security market size is expected to exhibit strong growth by reaching USD 47.02 billion by 2028. As per the report titled "Payment Security Market Size, Share & COVID-19 Impact Analysis, By Offering (Solution {Encryption, Tokenization, Fraud Detection and Prevention} and Services, Integration Services, Support Services, Consulting Services), By Platform (Web Platform and PoS Platform), By Transportation Mode (Banking Cards, Digital Wallets, Internet Banking, Point of Sales and Others), By Industry Vertical (Retail, Travel and Hospitality, Healthcare, I.T. and Telecom, BFSI, Media and Entertainment and Others), By Organization Size (Large Enterprises and Small and Medium-Sized Enterprises) and Regional Forecasts, 2022-2028" observes that the market size in 2021 stood at USD 19.5 billion and USD 47.02 billion in 2028. The market is expected to exhibit a CAGR of 15.8% during the forecast period.

Market Overview

Payment security is a term used to describe a collection of security products and services created to reduce the risk of data breaches, stop financial fraud, and stop unauthorized transactions. Additionally, it uses data encryption, firewalls, and data loss prevention (DLP) protocols to secure all kinds of online financial transactions. The industry's notable growth in the banking, financial services, and insurance (BFSI) sectors are producing a favorable picture of the market.

Request a Sample Copy of the Report: https://marketsnresearch.com/sample/1580

COVID-19 IMPACT

The COVID-19 pandemic epidemic has boosted the use of digital payment methods, which has greatly accelerated the expansion of the payment security business. Real-time payments are predicted to see exponential growth due to the COVID-19 pandemic, according to research released by the ACI in April 2020, with more than a trillion transactions and a compound annual growth rate of about 23% between 2019 and 2024.

Notable Industry Development

  • November 2021: First Tech teamed with the multinational technology business Thales. This alliance aided SWAP, a financial services provider with venture capital backing, in establishing a cutting-edge digital payments infrastructure. This cutting-edge payment security architecture with Thales helps SWAP make a quicker transition to the market.

Growth Factor

Rising Use of Digital Payment Methods is Expected to Fuel the Growth

The rapid expansion of e-commerce, the widespread adoption of connected devices worldwide, changes in consumer purchasing habits, technological advancements, and governmental policies and regulations significantly changed digital payments in recent years. Digital payment systems, including internet banking, mobile money, and card payments, have recently seen a dramatic increase in popularity. This trend is a crucial part of international measures to advance financial inclusion. Globally, this trend is being driven by an increase in legislative incentives to adopt digital payment systems and smartphone usage, e-commerce sales, and internet access.

Click Here to Access a Free Sample Report of the Global Payment Security Market @ https://marketsnresearch.com/sample/1580

Major Players Develop Acquisition Plans to Boost Brand Image

The leading businesses in the payment security market plan acquisitions to improve their brand recognition globally. For instance, in March 2022, Partnering with Capitec Bank Entersekt, a device identification and authentication solutions provider. Through this partnership, an innovative 3-D EMV security solution has been implemented, enhancing the security of online payments while lowering cardholder friction.

List of Key Players Profiled in the Report

  • Systems LLC (U.S.)
  • Braintree (U.S.)
  • Cybersource (U.S.)
  • Elavon (U.S.)
  • Ingenico (France)
  • Broadcom, Inc. (U.S.)
  • Thales Group (France)
  • Shift4 Payments, LLC (U.S.)
  • Signifyd (U.S.)
  • TNS, Inc. (U.S.)
  • Tokenex (U.S.)
  • SISA Information Security Pvt. Ltd. (India)
  • Stripe (U.S.)
  • Geobridge Corporation (U.S.)
  • MasterCard (U.S.)
  • Verifone Systems Inc. (U.S.)

Quick Buy- Payment Security Market Report: https://marketsnresearch.com/checkout/1580/1ecda5z5e4

Security worries and a lack of qualified professionals will limit market expansion

Phishing scams, hacking tools, illegal access, and unprotected mobile wallets are security risks that put users' data and information at risk. Determining the type of user data protection is similarly difficult. Additionally, companies continue to experience issues with data security and a shortage of qualified personnel, limiting market growth. For example, a PEW survey found that American consumers felt that mobile payments were "poorly safeguarded" (38%) compared to prepaid (28%), debit (22%), and credit cards (9%).

Report Scope and Segmentation

Report CoverageDetails
Forecast Period2022-2028
Forecast Period 2021 to 2028 CAGR15.80%
2028 Value Projection47.02 billion
Base Year2021
Market Size in 202119.5 billion
Historical Data for2018 - 2021
Segments coveredBy Offerings, Platform, Transportation Mode, Industry Vertical, Organization Size, and By Geography
Regional ScopeNorth America, Europe, Asia Pacific, Middle East & Africa, and South & Central America

Ask For Any Customization @ https://marketsnresearch.com/customization-request/1580

Segmentation of Global Payment Security Market

Global Payment Security Market – By Offering

  • Solution
    • Encryption
    • Tokenization
    • Fraud Detection and Prevention
  • Services
    • Integration Services
    • Support Services
    • Consulting Services

Global Payment Security Market – By Platform

  • Web Platform
  • PoS Platform

Global Payment Security Market – By Transportation Mode

  • Banking Cards
  • Digital Wallets
  • Internet Banking
  • Point of Sales
  • Others

Global Payment Security Market – By Industry Vertical

  • Retail
  • Travel and Hospitality
  • Healthcare
  • I.T. and Telecom
  • BFSI
  • Media and Entertainment
  • Others

Global Payment Security Market – By Organization Size

  • Large Enterprises
  • Small and Medium-Sized Enterprises

Ask For Pricing @ https://marketsnresearch.com/buying-request/1580

Regional Overview

North America is projected to hold the largest share of the payment security market over the forecast period. The demand for security solutions is rising due to the rapid rise of real-time payments in North America, which has shown significant year-over-year growth. Furthermore, introducing cutting-edge technology-enabled mobile payment services based on these security solutions is another area of attention for major North American mobile payment market companies, such as Apple, Inc., Samsung, and others.

Further Report Findings

  • The market in North America is expected to gain a huge portion of the global payment security market share in the coming years. There are significant opportunities for the payment security market to grow due to the widespread use of smartphones, internet speed and dependability improvements, and an expanding user base of tech-savvy millennials.
  • Research and development (R&D) innovations and payment security technologies are given particular attention in the developed economies of the U.S. and Canada.
  • In Asia Pacific, the growth in this region is primarily driven by the rising adoption of advanced payment technologies within organizations for performing business transactions.

Download PDF Broucher @ https://marketsnresearch.com/sample/1580

Our Free Sample Report Consists of the following:

  • Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
  • The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
  • About 220+ Pages Research Report (Including Recent Research)
  • Provide detailed chapter-by-chapter guidance on the Request
  • Updated Regional Analysis with a Graphical Representation of Size, Share, and Trends for the Year 2022
  • Includes Tables and figures have been updated
  • The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis

Still, Looking for More Information? OR Want Data for Inclusion in Magazines, Case Studies, Research Papers or Media?

Email Directly Here with Detail Information: sales@marketsnresearch.com

About Markets N Research

When it comes to investing and money matters, you need the leading market research consultancy firm to help you make the right decisions during the toughest business questions and decisions. Markets N Research is the leading research company offering both tactical and strategic support to all our customers. Customer satisfaction is our goal and that is why, we have a team of skilled and experienced specialist with the ability to do data mining, information management, and revenue enhancement solutions to ensure that our clients make informed decisions when coming to investing in the market.

Markets N Research team is comprised of well skilled and equipped personnel ready to concur any upcoming challenges in the market sector for both individual people and organization around the world. We know time is money, and therefore we ensure we solve your problem within the shortest time possible to prevent delays or missing any opportunities. We use globally accepted techniques with a little innovation from our staff in solving all your market research related challenges.

Contact Us:
Markets N Research
US: +1-773-649-1529
Email:- sales@marketsnresearch.com
Website: https://marketsnresearch.com/
Follow on Linkedin: https://www.linkedin.com/company/markets-n-research
Follow on Twitter: https://twitter.com/marketsnr
Like us on Facebook: https://www.facebook.com/Markets-N-Research-108839598639025

Browse More Software & Services Industry Reports @ https://marketsnresearch.com/category/technology-and-media/software-and-services/3

Global Travel and Expense Management Software Market by Deployment Model (On-Premise, Cloud), Organization Size (Medium Enterprise, Large Enterprise), Industry (Defense, Government, Others) and Region - Global Forecast to 2028

Global Manufacturing Execution System Market by Offering (Software, Services) Deployment Mode (On-Premise, On-Demand, Hybrid), Process Industry (Food & Beverages, Oil & Gas, Chemicals, Pulp & Paper, Pharmaceuticals & Life Sciences, Energy & Power, Water & Wastewater Management, Others), Discrete Industry (Automotive, Aerospace, Medical Devices, Consumer Packaged Goods, Others) and Region - Global Forecast to 2028

Global Automation Testing Market by Testing Type (Non-functional Testing, Functional Testing), Service (Planning & Development, Advisory & Consulting, Implementation, Support & Maintenance, Managed, Documentation & Training, On-Premises, Others), Organization Size (Small & Medium Enterprises, Large Enterprises), Endpoint Interface (Web, Cloud, Desktop, Mobile), Verticals (BFSI, Manufacturing, Defence & Aerospace, Retail, Logistics & Transportation, Telecom & IT, Healthcare & Life Sciences, Automotive, Others) and Region - Global Forecast to 2028

Fraud Detection and Prevention Market by Component (Solutions, Services), Solution (Fraud Analytics, Authentication, Governance, Risk and Compliance), Service (Professional Services, Managed Services), Application (Identity theft, Money Laundering, Payment Fraud, Others), Organization Size (Small and Medium Enterprise (SMEs), Large Enterprises), Vertical (BFSI, Government & Defence, Healthcare, I.T. & Telecom, Industrial & Manufacturing, Retail & E-commerce, Others) and Region - Global Forecast to 2028

Artificial Intelligence in Aviation Market by Offering (Hardware, Software, Services), Technology (Machine Learning, Context Awareness Computing, Natural Language Processing, Computer Vision, Others), Application (Smart Maintenance, Training, Manufacturing, Flight Operations, Virtual Assistants, Dynamic Pricing, Surveillance, Others) and Region - Global Forecast to 2028


Posted In: Press Releases