P2P Payment Market Size - By Transaction Mode (Mobile Web Payments, Near Field Communication, SMS/Direct Carrier Billing, Mobile App-based P2P Payments), By Payment Type (Remote, Proximity), By End User, By Transaction Type & Forecast 2024

Description

P2P payment market size is set to record over 15% CAGR during 2024-2032 driven by the increasing adoption of mobile technology and digital wallets. As smartphones and internet connectivity have become more ubiquitous, consumers are increasingly turning to P2P payment apps for their convenience and ease of use. As per GSMA, in 2023, around 54% of the world population, equating to around 4.3 billion individuals, were smartphone owners. These payment platforms also allow users to quickly and securely transfer money between accounts, pay for goods and services, and split bills without the need for physical cash or checks.

The rise in e-commerce and the growing preference for contactless transactions are fueling the market growth. As consumers seek faster and more efficient ways to complete transactions, P2P payments provide an attractive alternative to traditional payment methods. The market is also benefiting from the increased focus on financial inclusion and the development of innovative payment solutions to cater to diverse consumer needs.

The P2P payment industry is classified into transaction mode, payment type, end user, transaction type, and region.

Based on transaction mode, the market size from the mobile web payments segment is expected to generate notable revenue by 2032. This is due to its seamless integration with mobile devices and convenience for users. Mobile web payments facilitate quick and easy transactions directly through web browsers on smartphones, allowing users to make P2P payments without the need for specialized apps or extensive setup.

In terms of end use, the P2P payment market from the personal segment is projected to observe robust CAGR during 2024 - 2032 owing to the increasing demand for convenient and immediate ways to transfer money between individuals. As people seek faster, more efficient methods for managing everyday financial transactions, such as splitting bills, sending gifts, or reimbursing friends, P2P payment solutions are favored to offer user-friendly alternatives to traditional payment methods.

North America P2P payment industry size will grow between 2024 and 2032. The widespread availability of high-speed internet and smartphones, coupled with the tech-savvy population, are facilitating the seamless integration and usage of P2P payment solutions. Regulatory support and the establishment of frameworks that promote digital payments along with secure and efficient environment for P2P transactions will stimulate the regional market growth.

Product Code: 9980

Chapter 1 Scope & Methodology

1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
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 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
- 3.7.1 Growth drivers
  - 3.7.1.1 Increased smartphone and internet penetration
  - 3.7.1.2 Government initiatives and support
  - 3.7.1.3 Technological advancements and innovations
  - 3.7.1.4 Growing consumer preference for digital payments
  - 3.7.1.5 Enhanced security and fraud prevention measures
- 3.7.2 Industry pitfalls & challenges
  - 3.7.2.1 Security concerns and risk of fraud
  - 3.7.2.2 Regulatory and compliance challenges
3.8 Growth potential analysis
3.9 Porter's analysis
- 3.9.1 Supplier power
- 3.9.2 Buyer power
- 3.9.3 Threat of new entrants
- 3.9.4 Threat of substitutes
- 3.9.5 Industry rivalry
3.10 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

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

Chapter 5 Market Estimates & Forecast, By Transaction Mode, 2021 - 2032 (USD Billion)

5.1 Key trends
5.2 Mobile web payments
5.3 Near field communication
5.4 SMS/Direct carrier billing
5.5. Mobile App-Based P2 P payments

Chapter 6 Market Estimates & Forecast, By Payment Type, 2021 - 2032 (USD Billion)

6.1 Key trends
6.2 Remote
6.3 Proximity

Chapter 7 Market Estimates & Forecast, By End-User, 2021 - 2032 (USD Billion)

7.1 Key trends
7.2 Personal
7.3 Business

Chapter 8 Market Estimates & Forecast, By Transaction Type, 2021 - 2032 (USD Billion)

8.1 Key trends
8.2. Domestic P2P Payments
8.3. International P2P Payments

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 Saudi Arabia
- 9.6.3 South Africa
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 PayPal Holdings, Inc.
10.2 Square, Inc.
10.3 Early Warning Services, LLC
10.4 Apple Inc.
10.5 Google LLC
10.6 Ant Group Co., Ltd.
10.7 Tencent Holdings Limited
10.8 Revolut Ltd.
10.9 Wise Group Ltd. (formerly TransferWise)
10.10 Meta Platforms, Inc.
10.11 Samsung Electronics Co., Ltd.
10.12 Vodafone Group plc
10.13 Paysafe Group Limited
10.14 Skrill Limited
10.15 Payoneer Inc.
10.16 Dwolla, Inc.
10.17 Stripe, Inc.
10.18 Adyen N.V.
10.19 JPMorgan Chase & Co. (Chase QuickPay)
10.20 Amazon.com, Inc.
10.21 Ripple Labs Inc.

P2P Payment Market Size - By Transaction Mode (Mobile Web Payments, Near Field Communication, SMS/Direct Carrier Billing, Mobile App-based P2P Payments), By Payment Type (Remote, Proximity), By End User, By Transaction Type & Forecast 2024 - 2032