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

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)

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 Security Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Component
    6.1    Solution
        6.1.1 Market Trends
        6.1.2 Key Segments
           6.1.2.1 Encryption
           6.1.2.2 Tokenization
           6.1.2.3 Fraud Detection and Prevention
        6.1.3 Market Forecast
    6.2    Service
        6.2.1 Market Trends
        6.2.2 Market Forecast
7    Market Breakup by Platform
    7.1    Web-based
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    POS-based
        7.2.1 Market Trends
        7.2.2 Market Forecast
8    Market Breakup by Enterprise Size
    8.1    Small and Medium-sized Enterprises
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Large Enterprises
        8.2.1 Market Trends
        8.2.2 Market Forecast
9    Market Breakup by End User
    9.1    BFSI
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Government and Utilities
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    IT and Telecom
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Healthcare
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Retail and E-Commerce
        9.5.1 Market Trends
        9.5.2 Market Forecast
    9.6    Media and Entertainment
        9.6.1 Market Trends
        9.6.2 Market Forecast
    9.7    Travel and Hospitality
        9.7.1 Market Trends
        9.7.2 Market Forecast
    9.8    Others
        9.8.1 Market Trends
        9.8.2 Market Forecast
10    Market Breakup by Region
    10.1    North America
        10.1.1 United States
           10.1.1.1 Market Trends
           10.1.1.2 Market Forecast
        10.1.2 Canada
           10.1.2.1 Market Trends
           10.1.2.2 Market Forecast
    10.2    Asia-Pacific
        10.2.1 China
           10.2.1.1 Market Trends
           10.2.1.2 Market Forecast
        10.2.2 Japan
           10.2.2.1 Market Trends
           10.2.2.2 Market Forecast
        10.2.3 India
           10.2.3.1 Market Trends
           10.2.3.2 Market Forecast
        10.2.4 South Korea
           10.2.4.1 Market Trends
           10.2.4.2 Market Forecast
        10.2.5 Australia
           10.2.5.1 Market Trends
           10.2.5.2 Market Forecast
        10.2.6 Indonesia
           10.2.6.1 Market Trends
           10.2.6.2 Market Forecast
        10.2.7 Others
           10.2.7.1 Market Trends
           10.2.7.2 Market Forecast
    10.3    Europe
        10.3.1 Germany
           10.3.1.1 Market Trends
           10.3.1.2 Market Forecast
        10.3.2 France
           10.3.2.1 Market Trends
           10.3.2.2 Market Forecast
        10.3.3 United Kingdom
           10.3.3.1 Market Trends
           10.3.3.2 Market Forecast
        10.3.4 Italy
           10.3.4.1 Market Trends
           10.3.4.2 Market Forecast
        10.3.5 Spain
           10.3.5.1 Market Trends
           10.3.5.2 Market Forecast
        10.3.6 Russia
           10.3.6.1 Market Trends
           10.3.6.2 Market Forecast
        10.3.7 Others
           10.3.7.1 Market Trends
           10.3.7.2 Market Forecast
    10.4    Latin America
        10.4.1 Brazil
           10.4.1.1 Market Trends
           10.4.1.2 Market Forecast
        10.4.2 Mexico
           10.4.2.1 Market Trends
           10.4.2.2 Market Forecast
        10.4.3 Others
           10.4.3.1 Market Trends
           10.4.3.2 Market Forecast
    10.5    Middle East and Africa
        10.5.1 Market Trends
        10.5.2 Market Breakup by Country
        10.5.3 Market Forecast
11    SWOT Analysis
    11.1    Overview
    11.2    Strengths
    11.3    Weaknesses
    11.4    Opportunities
    11.5    Threats
12    Value Chain Analysis
13    Porters Five Forces Analysis
    13.1    Overview
    13.2    Bargaining Power of Buyers
    13.3    Bargaining Power of Suppliers
    13.4    Degree of Competition
    13.5    Threat of New Entrants
    13.6    Threat of Substitutes
14    Price Analysis
15    Competitive Landscape
    15.1    Market Structure
    15.2    Key Players
    15.3    Profiles of Key Players
        15.3.1    Bluefin Payment Systems LLC
           15.3.1.1 Company Overview
           15.3.1.2 Product Portfolio
        15.3.2    Broadcom Inc.
           15.3.2.1 Company Overview
           15.3.2.2 Product Portfolio
           15.3.2.3 Financials
           15.3.2.4 SWOT Analysis
        15.3.3    Cybersource (Visa Inc.)
           15.3.3.1 Company Overview
           15.3.3.2 Product Portfolio
           15.3.3.3 SWOT Analysis
        15.3.4    Elavon Inc. (U.S. Bancorp)
           15.3.4.1 Company Overview
           15.3.4.2 Product Portfolio
        15.3.5    Ingenico (Worldline)
           15.3.5.1 Company Overview
           15.3.5.2 Product Portfolio
           15.3.5.3 SWOT Analysis
        15.3.6    PayPal Holdings Inc.
           15.3.6.1 Company Overview
           15.3.6.2 Product Portfolio
           15.3.6.3 Financials
           15.3.6.4 SWOT Analysis
        15.3.7    SecurionPay
           15.3.7.1 Company Overview
           15.3.7.2 Product Portfolio
        15.3.8    Shift4 Payments
           15.3.8.1 Company Overview
           15.3.8.2 Product Portfolio
           15.3.8.3 Financials
        15.3.9    Signifyd
           15.3.9.1 Company Overview
           15.3.9.2 Product Portfolio
        15.3.10    SISA Information Security
           15.3.10.1 Company Overview
           15.3.10.2 Product Portfolio
        15.3.11    TokenEx
           15.3.11.1 Company Overview
           15.3.11.2 Product Portfolio
        15.3.12    VeriFone Inc.
           15.3.12.1 Company Overview
           15.3.12.2 Product Portfolio
           15.3.12.3 SWOT Analysis

List of Figures

Figure 1: Global: Payment Security Market: Major Drivers and Challenges
Figure 2: Global: Payment Security Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Payment Security Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Payment Security Market: Breakup by Component (in %), 2021
Figure 5: Global: Payment Security Market: Breakup by Platform (in %), 2021
Figure 6: Global: Payment Security Market: Breakup by Enterprise Size (in %), 2021
Figure 7: Global: Payment Security Market: Breakup by End User (in %), 2021
Figure 8: Global: Payment Security Market: Breakup by Region (in %), 2021
Figure 9: Global: Payment Security (Solution) Market: Sales Value (in Million US$), 2016 & 2021
Figure 10: Global: Payment Security (Solution) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 11: Global: Payment Security (Service) Market: Sales Value (in Million US$), 2016 & 2021
Figure 12: Global: Payment Security (Service) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 13: Global: Payment Security (Web-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 14: Global: Payment Security (Web-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 15: Global: Payment Security (POS-based) Market: Sales Value (in Million US$), 2016 & 2021
Figure 16: Global: Payment Security (POS-based) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 17: Global: Payment Security (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 18: Global: Payment Security (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 19: Global: Payment Security (Large Enterprises) Market: Sales Value (in Million US$), 2016 & 2021
Figure 20: Global: Payment Security (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 21: Global: Payment Security (BFSI) Market: Sales Value (in Million US$), 2016 & 2021
Figure 22: Global: Payment Security (BFSI) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 23: Global: Payment Security (Government and Utilities) Market: Sales Value (in Million US$), 2016 & 2021
Figure 24: Global: Payment Security (Government and Utilities) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 25: Global: Payment Security (IT and Telecom) Market: Sales Value (in Million US$), 2016 & 2021
Figure 26: Global: Payment Security (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 27: Global: Payment Security (Healthcare) Market: Sales Value (in Million US$), 2016 & 2021
Figure 28: Global: Payment Security (Healthcare) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 29: Global: Payment Security (Retail and E-Commerce) Market: Sales Value (in Million US$), 2016 & 2021
Figure 30: Global: Payment Security (Retail and E-Commerce) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 31: Global: Payment Security (Media and Entertainment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 32: Global: Payment Security (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 33: Global: Payment Security (Travel and Hospitality) Market: Sales Value (in Million US$), 2016 & 2021
Figure 34: Global: Payment Security (Travel and Hospitality) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 35: Global: Payment Security (Other End Users) Market: Sales Value (in Million US$), 2016 & 2021
Figure 36: Global: Payment Security (Other End Users) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 37: North America: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 38: North America: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 39: United States: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 40: United States: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 41: Canada: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 42: Canada: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 43: Asia-Pacific: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 44: Asia-Pacific: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 45: China: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 46: China: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 47: Japan: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 48: Japan: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 49: India: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 50: India: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 51: South Korea: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 52: South Korea: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 53: Australia: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 54: Australia: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 55: Indonesia: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 56: Indonesia: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 57: Others: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 58: Others: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 59: Europe: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 60: Europe: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 61: Germany: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 62: Germany: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 63: France: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 64: France: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 65: United Kingdom: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 66: United Kingdom: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 67: Italy: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 68: Italy: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 69: Spain: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 70: Spain: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 71: Russia: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 72: Russia: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 73: Others: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 74: Others: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 75: Latin America: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 76: Latin America: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 77: Brazil: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 78: Brazil: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Mexico: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 80: Mexico: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 81: Others: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 82: Others: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 83: Middle East and Africa: Payment Security Market: Sales Value (in Million US$), 2016 & 2021
Figure 84: Middle East and Africa: Payment Security Market: Breakup by Country (in %), 2021
Figure 85: Middle East and Africa: Payment Security Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 86: Global: Payment Security Industry: SWOT Analysis
Figure 87: Global: Payment Security Industry: Value Chain Analysis
Figure 88: Global: Payment Security Industry: Porter's Five Forces Analysis
 

List of Tables

Table 1: Global: Payment Security Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Payment Security Market Forecast: Breakup by Component (in Million US$), 2022-2027
Table 3: Global: Payment Security Market Forecast: Breakup by Platform (in Million US$), 2022-2027
Table 4: Global: Payment Security Market Forecast: Breakup by Enterprise Size (in Million US$), 2022-2027
Table 5: Global: Payment Security Market Forecast: Breakup by End User (in Million US$), 2022-2027
Table 6: Global: Payment Security Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 7: Global: Payment Security Market: Competitive Structure
Table 8: Global: Payment Security Market: Key Players

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Key Questions Answered in This Report

The global payment security market was valued at US$ 20.5 Billion in 2021.

We expect the global payment security market to exhibit a CAGR of 14.40% during 2022-2027.

The growing integration of connected devices with IoT, machine learning, and artificial intelligence, for
tracking the location of financial crime, improving accuracy, securing data, etc., is currently catalyzing
the global payment security market.

The sudden outbreak of the COVID-19 pandemic has led to the increasing application of payment
security solutions, to remotely secure all forms of online financial transactions and mitigate the risk of
data breaching.

Based on the component, the global payment security market has been segmented into solution and
service. Currently, solution holds the majority of the total market share.

Based on the platform, the global payment security market can be divided into web-based and POS-
based, where POS-based currently exhibits a clear dominance in the market.

Based on the enterprise size, the global payment security market has been categorized into small and
medium-sized enterprises and large enterprises. Currently, large enterprises account for the largest
market share.

Based on the end user, the global payment security market can be segregated into BFSI, government
and utilities, IT and telecom, healthcare, retail and e-commerce, media and entertainment, travel and
hospitality, and others. Among these, the retail and e-commerce sector currently exhibits a clear
dominance in the market.

On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.

Some of the major players in the global payment security market include 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.

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