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Payment security Global Market - OverviewThe global payment security market is showing immense growth; mainly due to the growing need to adhere to PCI DSS guidelines and rise in fraudulent activities in ecommerce. Technological advancements have played a major role in the development of payment security market. Steep increase in the adoption of advanced payment security solutions for digital ecommerce is another major factor driving the growth of payment security market.
Braintree, CyberSource Corporation, Elavon, Index, Ingenico ePayments, Intelligent Payments, GEOBRIDGE Corporation, and Shift4 Corporation are the major investors in the payment security market. Increasing demand for secured payment gateways is one major factor driving the growth of payment security market. Growing urbanization and population is another factor driving the growth of payment security market. Moreover, increasing adoption of digital payment modes across different verticals is responsible for driving the growth of payment security market.
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By organization size, the large enterprises sub segment is expected to hold the largest share of the market size in 2017. However, the SMEs sub segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing adoption of payment security solutions in order to protect the customer-sensitive bank account data from network vulnerabilities and attacks. Also, by service, the support services sub segment is expected to hold the largest market share of the global payment security market. According to a recent study report published by Market Research Future, the global market of Payment security is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2023 with a striking CAGR during the anticipated period (2017 – 2023).
The Global Payment Security Market is expected to grow at USD 27 Billion by 2023, at ~17% of CAGR between 2017 and 2023.
Key Players
The prominent players in the Payment Security Market are – Ingenico ePayments (Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (US), PayPal Holdings (US), Elavon (US), Index (US), Shift4 Corporation (US), Transaction Network Services (TNS) Inc. (US), TokenEx, LLC (US) and CyberSource Corporation (US), among others.
Segments:
The global payment security market has been segmented on the basis of component, organization size, end-users, and region.
Global Payment Security Market by Component:
- Solution
• Encryption
• Tokenization
• Fraud detection and prevention
- Services
• Support services
• Integration services
• Consulting service
Global Payment Security Market by Organization Size:
• Large enterprises
• Small and Medium-Sized Enterprises (SMEs)
• Others
Global Payment Security Market by End-Users:
• BFSI
• Healthcare
• IT and telecom
• Travel and hospitality
• Others
Global Payment Security Market by Regions:
• North America
• Europe
• APAC
• Rest of the World
Regional Analysis
The regional analysis of global payment security market is being studied for region including Asia Pacific, North America, Europe and Rest of the World. North America region is dominating the global payment security market and accounted for a largest market share. In Europe region, the payment security market is gaining momentum as the businesses are constantly monitoring new developments and shaping their PCI DSS technology. Asia Pacific is expected to reach to the highest CAGR in the payment security market as the companies are ensuring for the safe and secure online transaction. This region is expected to grow further in the coming years of the payment security market.
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Intended Audience
• Payment Security manufacturers
• Original equipment manufacturers
• Government agencies
• Payment security vendors
• Network solution providers
• Independent software vendors
• Consulting firms
• System integrators
• Research institutes and organizations
• Technology standards organizations
• Technology investors
• Research institutes,
• System Integrators
• Research/Consultancy firms
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Contact Info:
Name: Abhishek Sawant
Email: Send Email
Organization: Market Research Future
Website: https://www.marketresearchfuture.com
Release ID: 458132
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