Payment Security Global Market Report 2024

Description

“Payment Security Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on payment security market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
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Outperform competitors using forecast data and the drivers and trends shaping the market.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for payment security? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The payment security market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Solution: Encryption; Tokenization; Fraud Detection And Prevention
2) By Services: Integration Services; Support Services; Consulting Services
3) By Organization Size: Large Enterprises; Small And Medium-Sized Enterprises (SMEs)
4) By Vertical: Retail; Travel And Hospitality; Healthcare; IT And Telecom; Education; Media And Entertainment; Others (Automotive, Financial Services, And Manufacturing)
Companies Mentioned: CyberSource Corporation; Elavon Inc.; Bluefin Payment Systems LLC.; Ingenico Group.; SISA Information Security Pvt Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Payment security encompasses the rules, regulations, and security mechanisms implemented to safeguard the privacy, data, and transactions of customers or partners, aiming to prevent issues such as money laundering, fraudulent transactions, and data breaches. These mechanisms are designed to ensure data security for customers, prevent unauthorized transactions, and mitigate the risk of data breaches.

The main types of solutions in the payment security market include encryption, tokenization, and fraud detection and prevention. Encryption is a security and fraud prevention technique that involves automatically reordering and breaking apart data before it is transmitted over telephone lines or the internet. Encryption is utilized to protect both data in transit and data at rest. Payment security services encompass integration services, support services, and consulting services catering to both large enterprises and small and medium-sized enterprises (SMEs). Industries using payment security solutions span across retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and others (including automotive, financial services, and manufacturing).

The payment security market research report is one of a series of new reports from The Business Research Company that provides payment security market statistics, including payment security industry global market size, regional shares, competitors with an payment security market share, detailed payment security market segments, market trends and opportunities, and any further data you may need to thrive in the payment security industry. This payment security market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The payment security market size has grown rapidly in recent years. It will grow from $27. 55 billion in 2023 to $31. 55 billion in 2024 at a compound annual growth rate (CAGR) of 14. 5%. The growth observed in the historic period can be attributed to factors such as the rise of e-commerce, an increase in digital transactions, globalization of financial transactions, incidents of data breaches, and heightened consumer awareness and expectations in terms of payment security.

The payment security market size is expected to see rapid growth in the next few years. It will grow to $56. 54 billion in 2028 at a compound annual growth rate (CAGR) of 15. 7%. The anticipated growth in the forecast period can be attributed to factors such as the emergence of contactless payments, advancements in blockchain and cryptocurrency security, integration of biometric authentication, regulatory developments, and the continuous evolution of cyber threats. Major trends expected in the forecast period include the increasing prevalence of cyber threats, the globalization and rise of cross-border transactions, the growing popularity of mobile and contactless payments, heightened consumer awareness, and an emphasis on fraud prevention in payment security.

The anticipated rise in the adoption of digital payment methods is poised to drive the growth of the payment security market. Digital payments, known for their speed, safety, and convenience, have become a prevalent method for purchasing goods and services. In order to foster consumer trust and address concerns about fraud and security in digital payments, robust payment security measures are crucial. These measures work to prevent fraud and instill confidence in users engaging in digital payment transactions. A notable example is the exponential increase in digital payment transactions reported by the Press Information Bureau (PIB) of India, revealing a rise from 3,134 crores (31. 34 billion) in FY 2018-19 to 5,554 crores (55. 54 billion) in FY 2020-21. The growing reliance on digital payment modes, such as Bharat Interface for Money-Unified Payments Interface (BHIM-UPI), underscores the importance of payment security solutions in facilitating secure and trusted transactions.

The surge in smartphone penetration is expected to be a driving force behind the growth of the payment security market. With smartphones being versatile handheld devices that integrate communication, computing, and various features, there is an increased demand for robust security measures to protect sensitive financial information. Payment security on smartphones involves deploying encryption, biometric authentication, and tokenization to ensure the security of financial data during transactions. For instance, the increased penetration of smartphones in the USA, with 307 million users reported by Zippia in March 2023, showcases the widespread use of these devices. This rise in smartphone adoption significantly contributes to the growth of the payment security market.

Technological advancement stands out as a prominent trend gaining traction in the payment security market, with Three-Domain Secure 2. 0 (3DS 2. 0) leading the way. As digital payments witness increasing adoption, technology is evolving to enhance transaction security in digitalized payment platforms. 3DS 2. 0 represents a significant leap in digital transaction security technology, providing an extra layer of fraud protection for online credit or debit card purchases. The technology leverages contextual data to detect and prevent fraud, creating an authentication pipeline among online merchants, payment networks, and financial institutions. Notably, PayU, a leading online payments solution provider, launched its 3D Secure 2. 0 SDK authentication service in February 2023. This service enhances tokenization capabilities, improving online payment security for both merchants and consumers.

Major companies in the payment security market are strategically forming partnerships to effectively manage risk. Strategic partnerships involve companies leveraging each other's strengths and resources for mutual benefits. An example is the partnership between Visa and Expel, announced in February 2023. The collaboration aims to empower customers to shift from a reactive to a proactive security posture, enhancing threat detection and response capabilities in the face of evolving cybersecurity threats.

In May 2022, TokenEx, a provider of cloud-based data security services, acquired Auric Systems International to expand its presence in Latin America and Africa. This strategic move enhances TokenEx's capabilities with Auric System's secure data storage service, known as AuricVault.

Major companies operating in the in the payment security market report are CyberSource Corporation, Elavon Inc., Bluefin Payment Systems LLC., Ingenico Group., SISA Information Security Pvt Ltd., Mastercard Inc., Experian plc., Eastnets, Interkassa, Adyen N. V., Stripe India Private Ltd., PayPal Holdings Inc., Square Inc., Worldpay Inc., Braintree, Authorize. Net LLC., BlueSnap Inc., Fiserv Inc., ACI Worldwide Inc., Verifone Systems Inc., First Data Corporation, Global Payments Inc., Total System Services Inc., PayU, Paysafe Group Limited, CyberArk Software Ltd., RSA Security LLC., Thales Group, Gemalto N. V., Entrust Datacard Corporation

North America was the largest region in the payment security market in 2023. The regions covered in the payment security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the payment security market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The payment security market includes revenues earned by entities by preventing unwanted transactions and data breaches and ensuring that the data of their consumers is protected. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r10508

1. Executive Summary

2. Payment Security Market Characteristics

3. Payment Security Market Trends And Strategies

4. Payment Security Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Payment Security Market Size and Growth

5.1. Global Payment Security Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Payment Security Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Payment Security Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Payment Security Market Segmentation

6.1. Global Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Encryption
Tokenization
Fraud Detection And Prevention
6.2. Global Payment Security Market, Segmentation By Services, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Integration Services
Support Services
Consulting Services
6.3. Global Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Large Enterprises
Small And Medium-Sized Enterprises (SMEs)
6. 4. Global Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Retail
Travel And Hospitality
Healthcare
IT And Telecom
Education
Media And Entertainment

7. Payment Security Market Regional And Country Analysis

7.1. Global Payment Security Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Payment Security Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Payment Security Market

8.1. Asia-Pacific Payment Security Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8. 4. Asia-Pacific Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Payment Security Market

9.1. China Payment Security Market Overview
9.2. China Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9. 4. China Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Payment Security Market

10.1. India Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Payment Security Market

11.1. Japan Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Payment Security Market

12.1. Australia Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Payment Security Market

13.1. Indonesia Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Payment Security Market

14.1. South Korea Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Payment Security Market

15.1. Western Europe Payment Security Market Overview
15.2. Western Europe Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15. 4. Western Europe Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Payment Security Market

16.1. UK Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Payment Security Market

17.1. Germany Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Payment Security Market

18. 5. France Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 6. France Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18. 7. France Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Payment Security Market

19. 9. Italy Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Payment Security Market

20.13. Spain Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Payment Security Market

21.1. Eastern Europe Payment Security Market Overview
21.2. Eastern Europe Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21. 4. Eastern Europe Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Payment Security Market

22.1. Russia Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Payment Security Market

23.1. North America Payment Security Market Overview
23.2. North America Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23. 4. North America Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Payment Security Market

24.1. USA Payment Security Market Overview
24.2. USA Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24. 4. USA Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Payment Security Market

25.1. Canada Payment Security Market Overview
25.2. Canada Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25. 4. Canada Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Payment Security Market

26.1. South America Payment Security Market Overview
26.2. South America Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26. 4. South America Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Payment Security Market

27.1. Brazil Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Payment Security Market

28.1. Middle East Payment Security Market Overview
28.2. Middle East Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28. 4. Middle East Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Payment Security Market

29.1. Africa Payment Security Market Overview
29.2. Africa Payment Security Market, Segmentation By Solution, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Payment Security Market, Segmentation By Organization Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29. 4. Africa Payment Security Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Payment Security Market Competitive Landscape And Company Profiles

30.1. Payment Security Market Competitive Landscape
30.2. Payment Security Market Company Profiles
- 30.2.1. CyberSource Corporation
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1. 4. Financial Performance
- 30.2.2. Elavon Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2. 4. Financial Performance
- 30.2.3. Bluefin Payment Systems LLC.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3. 4. Financial Performance
- 30.2. 4. Ingenico Group.
  - 30.2. 4.1. Overview
  - 30.2. 4.2. Products and Services
  - 30.2. 4.3. Strategy
  - 30.2. 4. 4. Financial Performance
- 30.2. 5. SISA Information Security Pvt Ltd.
  - 30.2. 5.1. Overview
  - 30.2. 5.2. Products and Services
  - 30.2. 5.3. Strategy
  - 30.2. 5. 4. Financial Performance

31. Global Payment Security Market Competitive Benchmarking

32. Global Payment Security Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Payment Security Market

34. Payment Security Market Future Outlook and Potential Analysis

34.1 Payment Security Market In 2028 - Countries Offering Most New Opportunities
34.2 Payment Security Market In 2028 - Segments Offering Most New Opportunities
34. 3 Payment Security Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35. 4. Research Inquiries
35. 5. The Business Research Company
35. 6. Copyright And Disclaimer