Payment Security Market - By Component (Solution [Encryption Tokenization, Fraud Detection & Prevention, Biometric Authentication], Services), By Organization Size (SMEs, Large Organization), By End-user & Forecast, 2023

List of Tables

Payment Security Market size is poised to expand at over 14% CAGR from 2023-2032, driven by the proliferation of mobile payments.

With consumers increasingly opting for convenient and contactless payment methods through mobile devices, the demand for secure mobile payment ecosystems is rising. Additionally, the ubiquity of smartphones and the globally surging mobile payment adoption are prompting several market players to drive continuous innovations in payment security for catering to the evolving needs of the mobile-centric digital economy, further accelerating the industry growth. To cite an instance, in August 2023, Mastercard introduced its ALT ID solution, a customized identification for guest checkout transactions to improve online payment safety, cardholder safety, and data breach protection while making transactions easier for retailers and consumers.

The payment security industry is segmented into component, organization size, end user, and region.

Based on component, the market share from the services segment is anticipated to gain significant traction from 2023-2032 with organizations prioritizing comprehensive security solutions. Service providers offer expertise in implementing robust security protocols, encryption, and tokenization to fortify the payment processes. The rising sophistication of cyber threats and the increasing volume of digital transactions are also prompting businesses to seek specialized services to safeguard payment ecosystems, propelling the segment growth.

In terms of end-user, the payment security industry from the BFSI segment is set to depict substantial growth through 2032. The rapid shift of financial transactions towards digital platforms is fueling the need for payment security solutions for safeguarding sensitive financial data, preventing fraud, and ensuring compliance with stringent regulations. Additionally, banks, payment processors, and insurance companies are making massive investments in advanced security measures, including encryption and multi-factor authentication to protect customer transactions.

Regionally, the Asia Pacific payment security market size is poised to expand at a notable growth rate through 2032 driven by the increasing adoption of e-commerce, mobile banking, and digital payment methods. Numerous industry players are collaborating with banking institutions and merchants to secure the payments ecosystem for assuring the safety of consumers and companies throughout the region. For instance, in June 2023, Visa launched several payment security initiatives in Singapore as part of its revised security roadmap for focusing on improving online and in-store transaction security. Moreover, governments and financial institutions in countries like China, India, and Singapore are prioritizing cybersecurity measures to combat evolving threats, further augmenting the regional industry outlook.

Product Code: 7013

Chapter 1 Methodology & Scope

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
  - 1.4.2.1 Paid sources
  - 1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Payment security market 360 degree synopsis, 2018 - 2032
2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Component trends
2.5 Organization size trends
2.6 End-user trends

Chapter 3 Payment Security Market Industry Insights

3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
- 3.6.1 Partnership/Collaboration
- 3.6.2 Merger/Acquisition
- 3.6.3 Investment
- 3.6.4 Product launch & innovation
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Rising adoption of digital payments
  - 3.8.1.2 Increasing cybersecurity threats
  - 3.8.1.3 Introduction of data protection regulations and compliance
  - 3.8.1.4 Rise in consumer inclination towards contactless & mobile payments
  - 3.8.1.5 Rapid adoption of biometric authentication
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 High-profile data breaches
  - 3.8.2.2 Dependency on third-party service providers
3.9 Growth potential analysis
3.10 Porter's analysis
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2022

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
- 4.3.1 Ingenico Group (Apollo Funds)
- 4.3.2 Cybersource (Visa Inc.)
- 4.3.3 Braintree (Paypal.)
- 4.3.4 Elavon Inc. (U.S. Bancorp)
- 4.3.5 Matercard
- 4.3.6 Fiserv Inc
- 4.3.7 Thales Group
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022

Chapter 5 Payment Security Market Estimates & Forecast, By Component (Revenue)

5.1 Key trends, by component
5.2 Solution
- 5.2.1 Encryption
- 5.2.2 Tokenization
- 5.2.3 Fraud Detection & Prevention
- 5.2.4 Biometric Authentication
5.3 Services

Chapter 6 Payment Security Market Estimates & Forecast, By Organization size (Revenue)

6.1 Key trends, by organization size
6.2 SMEs
6.3 Large organization

Chapter 7 Payment Security Market Estimates & Forecast, By End-user (Revenue)

7.1 Key trends, by end-user
7.2 BFSI
7.3 IT & Telecom
7.4 Retail & E-commerce
7.5 Healthcare
7.6 Government
7.7 Others

Chapter 8 Payment Security Market Estimates & Forecast, By Region (Revenue)

8.1 Key trends, by region
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 UK
- 8.3.2 Germany
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Russia
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 Southeast Asia
- 8.4.6 ANZ
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
8.6 MEA
- 8.6.1 UAE
- 8.6.2 Saudi Arabia
- 8.6.3 South Africa

Chapter 9 Company Profiles

9.1 Bluefin Payment Systems
9.2 Braintree (Paypal)
9.3 Broadcom Corporation
9.4 Cybersource (Visa Inc.)
9.5 Elavon Inc. (U.S. Bancorp)
9.6 Fingerprints
9.7 Fiserv Inc
9.8 Ingenico Group (Apollo Funds)
9.9 Mastercard
9.10 NCR Corporation
9.11 Shift4 Payments, LLC
9.12 Signifyd
9.13 Thales Group
9.14 TNS Inc.
9.15 Tokenex