SAN FRANCISCO, Oct. 22, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Payment Security – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: April 2021
Executive Pool: 447
Companies: 10 – Players covered include Bluefin Payment Systems; Braintree; CyberSource Corporation; Elavon, Inc.; Geobridge Corp.; Index; Ingenico Epayments; Intelligent Payments Group Ltd.; Shift4 Payments, LLC; Signifyd, Inc.; SISA Information Security Inc.; TNS Inc.; Tokenex and Others.
Coverage: All major geographies and key segments
Segments: Application (Retail & Ecommerce, Travel & Hospitality, Healthcare, Telecom & IT, Education, Media & Entertainment, Other Applications); Platform (Web-based, POS-based)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Payment Security Market to Reach $38 Billion by 2026
Amid the COVID-19 crisis, the global market for Payment Security estimated at US$15.2 Billion in the year 2020, is projected to reach a revised size of US$38 Billion by 2026, growing at a CAGR of 16.4% over the analysis period. Retail & Ecommerce, one of the segments analyzed in the report, is projected to record a 17.7% CAGR and reach US$12.7 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Travel & Hospitality segment is readjusted to a revised 16.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $5.3 Billion in 2021, While China is Forecast to Reach $6.6 Billion by 2026
The Payment Security market in the U.S. is estimated at US$5.3 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$6.6 Billion by the year 2026 trailing a CAGR of 15.7% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 14.6% and 13.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 11.9% CAGR.
Healthcare Segment to Reach US$3.1 Billion by the year 2026
In the global Healthcare segment, USA, Canada, Japan, China and Europe will drive the 17.1% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$936.1 Million in the year 2020 will reach a projected size of US$2.8 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.