Buy Now Pay Later (BNPL) Market Size - By Enterprise Size, Channel, End Use, Customer & Forecast, 2024

Description

Global Buy Now Pay Later (BNPL) Market will grow at a 40% CAGR between 2024 and 2032, propelled by e-commerce growth and innovations in digital payment platforms. The surge in online shopping increases the demand for flexible payment solutions, making BNPL an attractive option for consumers. Advances in digital payment technologies enhance the convenience and security of BNPL services, facilitating seamless integration into online checkout processes. These technological improvements, coupled with the expanding e-commerce landscape, will accelerate BNPL adoption, thereby contributing to market growth.

For instance, in May 2024, Google Pay added a "buy now, pay later" option along with two new features: viewing card benefits before payment and securely auto-filling card details, enhancing the ease and security of online shopping. This development implies greater competition and innovation in the buy now pay later (BNPL) industry as leading tech companies enhance their offerings to attract users. It also indicates a growing trend towards seamless, secure payment solutions, which could drive wider acceptance of BNPL services globally and increase market growth.

The buy now pay later (BNPL) market is classified based on enterprise size, channel, end-use, customer, and region.

The retail segment will witness a considerable surge between 2024 and 2032, attributed to its ability to attract consumers with flexible payment options. Retailers increasingly offer BNPL solutions to enhance shopping experiences and boost sales by providing interest-free installment plans. The convenience of splitting payments over time appeals to a broad customer base, particularly for higher-ticket items. As online and in-store shopping continues to grow, the retail segment's extensive reach and integration of BNPL services will solidify its decent market share.

The millennials segment will undergo a remarkable uptick through 2032, driven by their preference for flexible and convenient payment options. As digital natives, millennials are more inclined to adopt innovative financial services that allow them to manage their cash flow effectively. The appeal of interest-free installments and the ability to spread out payments without incurring debt resonates strongly with this demographic, driving significant adoption rates and ensuring their dominance in the buy now pay later (BNPL) industry.

Asia Pacific will register a noteworthy CAGR from 2024 to 2032, owing to its booming e-commerce landscape and a strong inclination towards flexible payment solutions. The region benefits from a vast consumer base, an expanding middle class, and widespread smartphone use, all driving BNPL adoption. Additionally, the rise of digital payment platforms and favorable regulatory environments enhance market potential. The dynamic growth and adoption trends in Asia Pacific position it as a key contributor to the buy now pay later (BNPL) market's global development.

Product Code: 9963

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 Industry 360º synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Profit margin analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
- 3.8.1 Growth drivers
  - 3.8.1.1 Increased consumer demand for flexible payment options
  - 3.8.1.2 Low interest and fees compared to traditional credit
  - 3.8.1.3 Partnership and integration with retailers
  - 3.8.1.4 Changing consumer preferences
  - 3.8.1.5 Increased merchant adoption
- 3.8.2 Industry pitfalls & challenges
  - 3.8.2.1 Consumer debt risk
  - 3.8.2.2 Technological and security risks
3.9 Growth potential analysis
3.10 Porter's analysis
- 3.10.1 Supplier power
- 3.10.2 Buyer power
- 3.10.3 Threat of new entrants
- 3.10.4 Threat of substitutes
- 3.10.5 Industry rivalry
3.11 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Enterprise Size, 2021 - 2032 (USD Billion)

5.1 Small and Medium Enterprises (SMEs)
5.2 Large enterprises

Chapter 6 Market estimates & forecast, By Channel, 2021 - 2032 (USD Billion)

6.1 Point of Sale (POS)
6.2 Offline

Chapter 7 Market estimates & forecast, By End Use, 2021 - 2032 (USD Billion)

7.1 Retail
- 7.1.1 Consumer electronics
- 7.1.2 Fashion & garment
- 7.1.3 Others
7.2 Healthcare
7.3 Leisure & entertainment
7.4 Automotive
7.5 Others
- 7.5.1 Home improvement
- 7.5.2 Education

Chapter 8 Market estimates & forecast, By Customer, 2021 - 2032 (USD Billion)

8.1 Gen Z (21-25)
8.2 Millennials (26-40)
8.3 Gen X (41-45)
8.4 Baby Boomers (56-75)

Chapter 9 Market Estimates & Forecast, By Region, 2021 - 2032 (USD Billion)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
9.6 MEA
- 9.6.1 UAE
- 9.6.2 South Africa
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Affirm Holdings, Inc
10.2 AfterPay Limited
10.3 Alma SAS
10.4 Bread Financial Holdings, Inc.
10.5 HSBC Group
10.6 Klarna Inc.
10.7 LatitudePay Financial Services
10.8 OPay
10.9 Openpay
10.10 PayBright Inc.
10.11 PayI8r
10.12 PayPal Holdings, Inc.
10.13 Paysafe Holdings UK Limited
10.14 Perpay Inc.
10.15 Quadpay, Inc.
10.16 SCALAPAY S.R.L.
10.17 Sezzle
10.18 Splitit Payments Ltd.
10.19 Zilch
10.20 Zip Co, Ltd.

Buy Now Pay Later (BNPL) Market Size - By Enterprise Size, Channel, End Use, Customer & Forecast, 2024 - 2032