Final Report will add the analysis of the impact of COVID-19 on this industry.
The report titled Digital Payments Market has recently added by MarketIntelligenceData to get a stronger and effective business outlook. It provides an in-depth analysis of different attributes of industries such as trends, policies, and clients operating in several regions. The qualitative and quantitative analysis techniques have been used by analysts to provide accurate and applicable data to the readers, business owners and industry experts.
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The transaction value of global mobile payments market was USD 3714.5 billion in 2019, and it is expected to reach a value of USD 12,407.5 billion by 2025, registering a CAGR of 23.8% over the forecast period 2020 – 2025.
Top Companies operating in the Global Digital Payments market profiled in the report: PayPal Holdings Inc., Visa Inc., MasterCard Incorporated (MasterCard), Amazon.com Inc., Google LLC (Alphabet Inc.)?, Apple Inc., CCAvenue (Avenues India Pvt. Ltd), Paytm Mobile Solutions Private Limited, Stripe Inc., Alipay.com Co. Ltd, American Express Co, ACI Worldwide Inc
Key Market Trends
BFSI Segment to Dominate the Market
– Robust growth in the digital banking has made it imperative for banks to transform their existing operations into an omni-channel approach, involving web, mobile, or physical branch. Thus, banks are offering various forms of digital experiences such as online banking, digital banking, internet banking. mobile banking, and neo banking. ?
– As per Fujitsus Digital Transformation for Banking Services Report 2018, the motivation for digital transformation in BFSI industry is improvement of efficiency for the banking entity (31%), followed by growth generation (30%).?
– Online banking is being practiced by almost all banks to reduce the hassle of customers who want to visit the physical bank branch. Some banks even allow the customers to deposit cheque by simply taking a picture of it. As per Peppers change in Banking Report 2019, the easy and efficiency of performing transactions was the maximum reason why customers choose online banks. ?
– In emerging markets, such as China and India, the penetration of mobile banking is stronger as compared to developed markets. This is because population in these countries are price sensitive and mobile banking offers cash back, vouchers, and coupons that can be redeemed on future transactions?
Regional Analysis For Digital Payments Market:
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Influence of the Digital Payments Market Report:
-Comprehensive assessment of all opportunities and risk in the Digital Payments market.
-Digital Payments market recent innovations and major events.
-Detailed study of business strategies for growth of the Digital Payments market-leading players.
-Conclusive study about the growth plot of Digital Payments market for forthcoming years.
-In-depth understanding of Digital Payments market-particular drivers, constraints and major micro markets.
-Favourable impression inside vital technological and market latest trends striking the Digital Payments market.
Digital Payments Market report includes the estimation of market size for value (million USD) and volume (M Sqm). Both Top-down and bottom-up approaches have been used to estimate and validate the market size of Digital Payments Market, to estimate the size of various other dependent submarkets in the overall market.
Key players in the market have been identified through secondary research, and their market shares have been determined through primary and secondary research. All percentage shares, splits, and breakdowns have been determined using secondary sources and verified primary sources.
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How we have factored the effect of Covid-19 in our report:
All the reports that we list have been tracking the impact of COVID-19 the market. Both upstream and downstream of the entire supply chain has been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check for with the sales team.
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