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

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

Report Format: PDF+Excel | Report ID: SR112023A5217
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Market Overview:

The global payment security market reached a value of US$ 20.5 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 47.7 Billion by 2027, exhibiting a CAGR of 14.40% 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 on different end use sectors. These insights are included in the report as a major market contributor.

Payment security refers to a system of security solutions and services that is designed to prevent monetary frauds, unauthorized transactions and mitigate the risk of data breaches. It also secures all forms of online financial transactions using data encryption, firewalls and data loss prevention (DLP) protocols. It consists of identity and access management, anti-malware, endpoint security, risk and compliance management and intrusion detection. This, in turn, assists in creating a trustworthy platform, minimizing loss of financial data through regular monitoring of malicious activities and provides protection against continuous threats of cyber security breaches. As a result, payment security solutions are widely used across the information technology (IT), healthcare, banking, financial services, and insurance (BFSI) industries.

 

 
 

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Payment Security Market Trends:

Significant growth in the banking, financial services, and insurance (BFSI) industry across the globe is creating a positive outlook for the market. Payment security assists banks in streamlining and automating finance management processes, increasing operational efficacy, and ensuring accurate records across recurring processes, such as invoicing and reconciliation. Additionally, the increasing adoption of digital payment modes and utilization of wireless networks in computing devices for facilitating payments is favoring the market growth. Furthermore, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), machine learning (ML) and artificial intelligence (AI) solutions, are providing an impetus to the market growth. These technologies aid in monitoring transactions, tracking the location of the financial crime, improving accuracy, securing data, mitigating risks, detecting frauds and managing regulatory compliance. In line with this, increasing incidences of payment frauds, cyber-attacks, cyber-crimes, and rising concerns regarding confidential and sensitive data are positively impacting the market growth. Other factors, including rapid digitization, along with the widespread product adoption to fulfil the regulatory requirements of the payment card industry and data security standard (PCI DSS) compliances across the globe, are anticipated to drive the market toward growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global payment security market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, platform, enterprise size and end user.

Breakup by Component:

  • Solution
    • Encryption
    • Tokenization
    • Fraud Detection and Prevention
  • Service
     

Breakup by Platform:

 

 
 

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  • Web-based
  • POS-based
     

Breakup by Enterprise Size:

  • Small and Medium-sized Enterprises
  • Large Enterprises
     

Breakup by End User:

  • BFSI
  • Government and Utilities
  • IT and Telecom
  • Healthcare
  • Retail and E-Commerce
  • Media and Entertainment
  • Travel and Hospitality
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Bluefin Payment Systems LLC, Broadcom Inc., Cybersource (Visa Inc.), Elavon Inc. (U.S. Bancorp), Ingenico (Worldline), PayPal Holdings Inc., SecurionPay, Shift4 Payments, Signifyd, SISA Information Security, TokenEx and VeriFone Inc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Component, Platform, Enterprise Size, End User, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Bluefin Payment Systems LLC, Broadcom Inc., Cybersource (Visa Inc.), Elavon Inc. (U.S. Bancorp), Ingenico (Worldline), PayPal Holdings Inc., SecurionPay, Shift4 Payments, Signifyd, SISA Information Security, TokenEx and VeriFone Inc.
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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