Market Overview
Payment gateway acts as intermediate between e-commerce site and bank. Online payment encodes sensitive information which is used for authentication of online transaction. It is used for preventing deceitful activities by providing the address verification system (AVS) and card verification value (CVV). Moreover, popularity of digital payment modes such as net banking, credit/debit cards, mobile wallets and growing number of customers using the smartphones for online transactions is driving the growth of the global market. Additionally, partnership of e-commerce sites with numerous payment gateways are providing cashbacks in order to hold their old customer and also to attract new customers.
This emerging need for the payment gateways market through the mobile phone is inspiring the growth prospects of online payment gateway market. It is enhancing the acceptance of mobile devices for user friendly and available advantages fostering the acceptance of mobile commerce making the consumers to buy more smartphones and such devices to shop online. This factor is intended to impact the growth of the market.
Segment Overview
Payment gateway aids various end-users such as travel & hospitality, healthcare, retail, education, utilities, government, others. Retail segment attained the leading share in 2019 and is anticipated to witness noteworthy growth over the forecast period. Retail corporations are adding different payment gateways such as Amazon Pay, among others to the websites which is boosting the growth of market. On the basis of type, the online payment gateway market has classified into self-hosted hosted, and bank integrated. Hosted online payment gateway segment leads the market and is prospective to dominate till 2026 owing to the merchants seeking fast installation of the payment gateway solutions on their website.
Regional Overview
Geographically, the market for online payment gateway is divided into North America, Europe, Middle East and Africa and Asia Pacific. Asia Pacific is anticipated to witness fastest growth due to numerous government initiatives for the digitization in developing economies such as India. China led the highest share in Asia Pacific online payment gateway market. Additionally, the country with India are expected to record impressive growth over the forecast period owing to the increase in number of small and medium companies and customers using online transactions. Moreover, growing penetration of internet in various rural areas of developing economies would positively influence the growth of the Asia Pacific online payment gateway market.
Competitor overview
Security and safety concerns regarding the online payments is concern and thus companies are implementing advanced technologies or solutions. Though, online bids and full-time accessibility are supplementing the growth of the online payment gateway market.
Key Players
Market Segmentation
By Type
By Application
By Geography
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
