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Payment Gateways Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview

The global payment gateways market size reached US$ 21.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 32.4 Billion by 2027, exhibiting a CAGR of 7% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Payment gateways are web-based applications that serve as intermediaries between e-commerce websites and banks to authorize and authenticate online transactions. They encrypt sensitive information, including credit card numbers and bank account details, to prevent fraud. They offer the facility of making purchases at any hour of the day without the inconvenience of waiting in long queues. As a result, payment gateways find extensive applications in the retail, media and entertainment, and banking, financial services and insurance (BFSI) industries across the globe.

 

 
 

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Payment Gateways Market Trends:

The increasing digital transformation of businesses around the world represents one of the key factors bolstering the growth of the market. Moreover, rising technological advancements have enabled financial service providers to offer novel digital services to customers. Besides this, there is a considerable increase in the adoption of online payment modes, including credit or debit cards, mobile wallets, and net banking, for making money transfers that offer a convenient method to users for making in-store payments. Apart from this, people are nowadays increasingly relying on online travel agencies (OTAs) for booking flights, cars, tours, cruises, and hotel accommodations. This, coupled with the thriving travel and tourism industry, is creating a positive outlook for the market. Furthermore, numerous banks are collaborating with retail vendors to provide cashback offers, attract new customers and retain existing users. This, along with the expanding broadband or high-speed Internet access, is projected to fuel the growth of the market in the upcoming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global payment gateways market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on application and mode of interaction.

Breakup by Application:

 

 
 

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  • Large Enterprises
  • Micro and Small Enterprises
  • Mid-Size Enterprises

 

Large enterprises currently hold the largest market as they have higher website traffic and consequently need to rely on effective solutions during the checkout process. 

Breakup by Mode of Interaction:

  • Hosted Payment Gateways
  • Pro/Self-Hosted Payment Gateways
  • API/Non-Hosted Payment Gateways
  • Local Bank Integrates
  • Direct Payment Gateways
  • Platform-Based Payment Gateways

 

Hosted payment gateways dominate the market as they offer multiple payment options and data encryption to safeguard sensitive customer data against data breaches and malware attacks.

Breakup by Region:

 

 
 

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  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • Latin America

 

The Asia-Pacific dominates the market on account of the burgeoning e-commerce industry in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry.

Key Questions Answered in This Report:

  • How has the global payment gateways market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global payment gateways market?
  • What are the key regions in the global payment gateways market?
  • What are the key application segments in the global payment gateways market?
  • What are the key mode of interactions in the global payment gateways market?
  • What are the various stages in the value chain of the global payment gateways industry?
  • What are the key driving factors and challenges in the global payment gateways industry?
  • What is the structure of the global payment gateways industry and who are the key players?
  • What is the degree of competition in the global payment gateways industry?

1   Preface
2   Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3   Executive Summary
4   Introduction

    4.1    Overview
    4.2    Key Industry Trends
5   Global Payment Gateways Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Breakup by Application
    5.5    Market Breakup by Mode of Interaction
    5.6    Market Breakup by Region
    5.7    Market Forecast
    5.8    SWOT Analysis
        5.8.1    Overview
        5.8.2    Strengths
        5.8.3    Weaknesses
        5.8.4    Opportunities
        5.8.5    Threats
    5.9    Value Chain Analysis
        5.9.1    Overview
        5.9.2    Research and Development
        5.9.3    Inputs
        5.9.4    Product and Services
        5.9.5    Marketing and Distribution
        5.9.6    End Users
        5.9.7    Post Sales Service
    5.10    Porters Five Forces Analysis
        5.10.1    Overview
        5.10.2    Bargaining Power of Buyers
        5.10.3    Bargaining Power of Suppliers
        5.10.4    Degree of Competition
        5.10.5    Threat of New Entrants
        5.10.6    Threat of Substitutes
6   Market Breakup by Application
    6.1    Large Enterprises
        6.1.1    Market Trends
        6.1.2    Market Forecast
    6.2    Micro and Small Enterprises
        6.2.1    Market Trends
        6.2.2    Market Forecast
    6.3    Mid-size Enterprises
        6.3.1    Market Trends
        6.3.2    Market Forecast
7   Market Breakup by Mode of Interaction
    7.1    Hosted Payment Gateways
        7.1.1    Market Trends
        7.1.2    Market Forecast
    7.2    Pro/Self-Hosted Payment Gateways
        7.2.1    Market Trends
        7.2.2    Market Forecast
    7.3    API/Non-Hosted Payment Gateways
        7.3.1    Market Trends
        7.3.2    Market Forecast
    7.4    Local Bank Integrates
        7.4.1    Market Trends
        7.4.2    Market Forecast
    7.5    Direct Payment Gateways
        7.5.1    Market Trends
        7.5.2    Market Forecast
    7.6    Platform-Based Payment Gateways
        7.6.1    Market Trends
        7.6.2    Market Forecast
8   Market Breakup by Region
    8.1    North America
        8.1.1    Market Trends
        8.1.2    Market Forecast
    8.2    Europe
        8.2.1    Market Trends
        8.2.2    Market Forecast
    8.3    Asia Pacific
        8.3.1    Market Trends
        8.3.2    Market Forecast
    8.4    Middle East and Africa
        8.4.1    Market Trends
        8.4.2    Market Forecast
    8.5    Latin America
        8.5.1    Market Trends
        8.5.2    Market Forecast
9   Competitive Landscape
    9.1    Market Structure
    9.2    Key Players
    9.3    Profiles of Key Players

List of Figures

Figure 1: Global: Payment Gateways Market: Major Drivers and Challenges
Figure 2: Global: Payment Gateways Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Payment Gateways Market: Breakup by Application (in %), 2021
Figure 4: Global: Payment Gateways Market: Breakup by Mode of Interaction (in %), 2021
Figure 5: Global: Payment Gateways Market: Breakup by Region (in %), 2021
Figure 6: Global: Payment Gateways Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 7: Global: Payment Gateways Industry: SWOT Analysis
Figure 8: Global: Payment Gateways Industry: Value Chain Analysis
Figure 9: Global: Payment Gateways Industry: Porter’s Five Forces Analysis
Figure 10: Global: Payment Gateways Market (Applications in Large Enterprises): Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Payment Gateways Market Forecast (Applications in Large Enterprises): Sales Value (in Million US$), 2022-2027
Figure 12: Global: Payment Gateways Market (Applications in Micro and Small Enterprises): Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Payment Gateways Market Forecast (Applications in Micro and Small Enterprises): Sales Value (in Million US$), 2022-2027
Figure 14: Global: Payment Gateways Market (Applications in Mid-Size Enterprises): Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Payment Gateways Market Forecast (Applications in Mid-Size Enterprises): Sales Value (in Million US$), 2022-2027
Figure 16: Global: Payment Gateways Market (Hosted): Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Payment Gateways Market Forecast (Hosted): Sales Value (in Million US$), 2022-2027
Figure 18: Global: Payment Gateways Market (Pro/Self-Hosted): Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Payment Gateways Market Forecast (Pro/Self-Hosted): Sales Value (in Million US$), 2022-2027
Figure 20: Global: Payment Gateways Market (API/Non-Hosted): Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Payment Gateways Market Forecast (API/Non-Hosted): Sales Value (in Million US$), 2022-2027
Figure 22: Global: Payment Gateways Market (Local Bank Integrates): Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Payment Gateways Market Forecast (Local Bank Integrates): Sales Value (in Million US$), 2022-2027
Figure 24: Global: Payment Gateways Market (Direct): Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Payment Gateways Market Forecast (Direct): Sales Value (in Million US$), 2022-2027
Figure 26: Global: Payment Gateways Market (Platform-Based): Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Payment Gateways Market Forecast (Platform-Based): Sales Value (in Million US$), 2022-2027
Figure 28: North America: Payment Gateways Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: North America: Payment Gateways Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: Europe: Payment Gateways Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: Europe: Payment Gateways Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: Asia Pacific: Payment Gateways Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: Asia Pacific: Payment Gateways Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Middle East and Africa: Payment Gateways Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Middle East and Africa: Payment Gateways Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Latin America: Payment Gateways Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Latin America: Payment Gateways Market Forecast: Sales Value (in Million US$), 2022-2027

List of Tables

Table 1: Global: Payment Gateways Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Payment Gateways Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 3: Global: Payment Gateways Market Forecast: Breakup by Mode of Interaction (in Million US$), 2022-2027
Table 4: Global: Payment Gateways Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 5: Global: Payment Gateways Market: Competitive Structure
Table 6: Global: Payment Gateways Market: Key Players

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