Global Payment Gateway Market Is Expected to Showcase Exponential Growth Through 2027

October 11, 2021


According to the report titled ‘Payment Gateway Market Size By Type (Hosted, Non-Hosted, Local Bank Integrated), By Organization Size (SME, Large Enterprises), By Application (Travel and Hospitality, Retail & E-commerce, Media & Entertainment, Healthcare, Energy & Utilities, IT & Telecom, BFSI), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027’, available with MarketStudyReport, payment gateway market is expected to showcase exponential growth during the forecast period 2021-2027.

 

As per the report findings, rising focus on the creation of a cashless economy is the major driving force for the payment gateway market growth.

 

Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4079056/

 

The market saw massive growth as a result of the COVID-19 pandemic, as customers all over the world turned to online payments to minimize the danger of exposure to the coronavirus associated with cash transactions.

 

Based on type, the market is categorized into hosted, local bank integrated, and non-hosted.
 

While as per organization size, the market is classified into SMEs, and large enterprises.
 

Moving on to application terrain, payment gateway market is divided into travel & hospitality, media & entertainment, IT & telecom, retail & e-commerce, healthcare, energy & utilities, and BFSI. In 2020, healthcare application category had a revenue share of 11.1%, and it is expected to increase at a significant rate between 2021 and 2027. Growing popularity of cashless transactions in healthcare organizations will contribute to segmental growth.

 

As for the regional spectrum, the market spans across Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. Of these, Latin American payment gateway market is predicted to grow at a CAGR of 19.4% over the forecast period, pertaining to growing adoption of mobile wallets across the region.

 

The competitive landscape of worldwide payment gateway market includes companies like SecurionPay (Online Payments Group Ltd.), Verifone Holdings Inc., Skrill Limited, PayPal Holdings Inc., Square Inc., Amazon.com. Inc., PayU Group, 2Checkout.com Inc., Payoneer Inc., Authorize.Net, CardStream Limited, Bitpay Inc., Dwolla Inc., Payline Data Services LLC, and Adyen N.V. among others.

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