PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1618222
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1618222
Payment Gateway Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 - 2032
The Global Payment Gateway Market was valued at USD 29.4 billion in 2023 and is forecasted to experience a CAGR of 19.5% from 2024 to 2032. This surge can be largely attributed to the booming e-commerce sector, as consumers increasingly opt for online shopping due to its convenience and accessibility. The expansion of various digital platforms has led to a significant reliance on online transactions for a wide range of products and services. This trend has not only heightened the demand for secure and efficient payment solutions but also intensified competition among businesses, which must provide seamless payment experiences to attract and retain customers. Payment gateways are essential in this ecosystem, offering secure transaction processing, multiple payment options, and real-time monitoring to meet consumer expectations for speed and reliability.
Moreover, the rising number of internet users is fueling this growth, expanding access to online shopping across different demographics. As connectivity improves, particularly in emerging markets, more individuals are becoming potential online shoppers. The ubiquity of mobile devices further enhances this trend, allowing consumers to make purchases anytime and anywhere. In response to these shifts, there is an increasing need for payment gateways that support various payment methods, such as credit cards, digital wallets, and mobile payments.
Businesses are adapting to evolving consumer behaviors, which drives demand for comprehensive payment gateway solutions and contributes to overall market growth. The market can be categorized by type into hosted, non-hosted, and local bank integrated options. In 2023, hosted payment gateways accounted for more than 60% of the market share and are projected to exceed USD 80 billion by 2032. The growth of mobile commerce has prompted these gateways to enhance mobile checkout flows. Many now feature responsive designs that create smoother mobile experiences, minimizing payment friction.
| Market Scope | |
|---|---|
| Start Year | 2023 |
| Forecast Year | 2024-2032 |
| Start Value | $29.4 Billion |
| Forecast Value | $61.1 Billion |
| CAGR | 19.5% |
Additionally, the market is segmented by organization size into small and medium enterprises (SMEs) and large enterprises. The latter held a significant 65.5% share of the market in 2023, as large organizations require payment gateways that seamlessly integrate with their enterprise resource planning (ERP) and customer relationship management (CRM) systems. These integrations streamline financial processes, automate payment workflows, and facilitate real-time data sharing and reporting, significantly enhancing operational efficiency. In the U.S., the payment gateway market represented over 65% of the global share in 2023, with ongoing advancements in artificial intelligence contributing to improvements in fraud detection and transaction management.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
- 1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
- 1.3 Forecast model
- 1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
- 1.5 Market definitions
Chapter 2 Executive Summary
- 2.1 Industry synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Supplier landscape
- 3.2.1 Issuers
- 3.2.2 Acquirers
- 3.2.3 Credit card networks
- 3.2.4 Payment processors
- 3.2.5 Independent sales organizations (ISOs)
- 3.2.6 Payment facilitators
- 3.2.7 Payment processing hardware providers
- 3.3 Profit margin analysis
- 3.4 Technology & innovation landscape
- 3.5 Key news & initiatives
- 3.6 Regulatory landscape
- 3.7 Impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Increasing e-commerce sales along with growing internet penetration
- 3.7.1.2 Changing consumer preferences towards digital payments
- 3.7.1.3 Supportive government initiatives
- 3.7.1.4 Increasing financial literacy across developing nations
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 Rising cybersecurity issues
- 3.7.2.2 Absence of a global standard for cross-border transactions
- 3.7.1 Growth drivers
- 3.8 Growth potential analysis
- 3.9 Porter's analysis
- 3.10 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 Type, 2021 - 2032 ($Bn)
- 5.1 Key trends
- 5.2 Hosted
- 5.3 Non-hosted
- 5.4 Local bank integrated
Chapter 6 Market Estimates & Forecast, By Organization Size, 2021 - 2032 ($Bn)
- 6.1 Key trends
- 6.2 Large enterprise
- 6.3 SME
Chapter 7 Market Estimates & Forecast, By Application, 2021 - 2032 ($Bn)
- 7.1 Key trends
- 7.2 Travel and hospitality
- 7.3 Retail & e-commerce
- 7.4 Media & entertainment
- 7.5 Healthcare
- 7.6 Energy & utilities
- 7.7 IT & telecom
- 7.8 BFSI
- 7.9 Others
Chapter 8 Market Estimates & Forecast, By Region, 2021 - 2032 ($Bn)
- 8.1 Key trends
- 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 Netherlands
- 8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 Japan
- 8.4.3 India
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Southeast Asia
- 8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Argentina
- 8.5.4 Colombia
- 8.6 MEA
- 8.6.1 South Africa
- 8.6.2 UAE
- 8.6.3 Saudi Arabia
- 8.6.4 Israel
Chapter 9 Company Profiles
- 9.1 2Checkout.com
- 9.2 Adyen
- 9.3 Allied Wallet
- 9.4 Amazon
- 9.5 Authorize
- 9.6 Bitpay
- 9.7 BluePay (Clover)
- 9.8 BlueSnap
- 9.9 Braintree
- 9.10 CardStream
- 9.11 Dwolla
- 9.12 Payline Data Services
- 9.13 Payoneer
- 9.14 PayPal
- 9.15 PayU
- 9.16 SecurionPay
- 9.17 Skrill
- 9.18 Square
- 9.19 Stripe
- 9.20 Verifone
- 9.21 Wepay
- 9.22 Worldpay
