PUBLISHER: Value Market Research | PRODUCT CODE: 1342971
PUBLISHER: Value Market Research | PRODUCT CODE: 1342971
The global demand for Payment Instruments Market is presumed to reach the market size of nearly USD 722.8 MN by 2030 from USD 214.19 MN in 2022 with a CAGR of 16.42% under the study period 2023 - 2030.
A payment instrument is defined as the integral component of a payment system. It's the part that facilitates the transaction of funds & money. But numerous processes take place in the background that transfers the sum from the buyer's account to the seller's account. This process is referred to as the payment system, which includes several parties like banks, PSPs, and credit card firms.
The growth is driven by the surge in digital payment platforms such as personal finance management, digital wallets, and mobile banking. The increasing need for non-cash payment instruments such as credit cards, mobile wallets, and smart cards is expected to flourish the market growth. Additionally, the accessibility of smartphones has facilitated the usage of mobile wallet applications, which is further propelling the market growth of the payment instrument market. Some other factors driving the payment instruments market growth are rising digitalization in banking, growing use of digital wallets, digital payment platforms, and net banking. Growing consumer preference for cashless transactions and increasing government initiatives regarding payment instruments & digitalization is further augmenting the market growth of payment instrument.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of payment instruments. The growth and trends of payment instruments industry provide a holistic approach to this study.
This section of the payment instruments market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
This section covers the regional outlook, which accentuates current and future demand for the Payment Instruments market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the payment instruments market include NCR Corporation, Ingenico, PAX Technology, Verifone Inc., Newland Payment Technology, Fiserv Inc., Castles Technology, Clover Network LLC, Equinox Payment, Dspread Technology (Beijing) Inc. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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