Online Payment Gateway Market to Benefit from COVID Pandemic :

Market Research Future has published a Cooked Research Report on the Global Online Payment Gateway Market.


Overview


The online payment gateway market is anticipated to witness healthy growth from 2020 to 2030, a research report suggests. Growing at a CAGR of 10.18%, the market is projected to reach US$193.27 billion by 2030. Emerging technologies like AI and IoT are expected to support the market growth along with the growing internet penetration. As predicted by analysts, security concerns about online transactions will negatively affect the market’s performance from 2020 to 2030. During the forecast period, the market will be supported by the rising e-commerce sales and the use of contactless payments worldwide.


The rise in cases of hacking on the other hand will challenge payments processing sector based organizations functioning in the global online payment gateway market. Analysts have split the market into type and application segments based on products and services. Payments processing based companies have been profiled. The lack of global cross-border payment standards is set to affect the global market during the forecast period 2020 to 2030. The report also provides the market’s performance forecasts till 2030. Analysts have studied the strategy of payments processing segment based organizations to help new entrants and established businesses. The payments processing sector itself is supported by favorable policies across regional markets as well as the growing application areas. During the forecast period 2020 to 2030, the online payment gateway market is set to witness a health growth across type and application segments as well as regional markets.


Market Segmentation


The payments processing sector has seen growth across type and application segments owing to the increasing spending power of consumers and evolving customer expectations. To study the market, analysts have further segmented type and application into local bank integrated, platform-based payment gateway solutions, and pro/self-hosted payment gateways on the basis of type. The market is further segmented into application sub segment which is split into large enterprise, micro and small enterprise, and mid-size enterprise.


The segmental analysis presented in the report provides payments processing field based organizations insights into key growth factors such as the increasing preference of consumers as well as challenges such as the shifting preference for cheaper alternatives the market will face from 2020 to 2030. Advances in mobile payment technology and the availability of many untapped opportunities are some of the key factors having an influence on payments processing industry based companies, suggest analysts as per the online payment gateway market report. But the report also identifies the lack of demand from developing countries and the lack of awareness as major threats companies in payments processing will face till 2030. 


Browse Full Report Details @ https://www.marketresearchfuture.com/reports/online-payment-gateway-market-6347


Regional Overview


Payments processing market based companies in the online payment gateway market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. Advances in billing methods will be a key growth driver for regional markets. However, the high cost of product and maintenance will turn out to be a threat. For the forecast period 2020 to 2030 each of these regional markets are studied in the report. Starting from North America, the regional market and payments processing vertical based companies are spread across the United States, Canada, and Mexico. An underdeveloped infrastructure will turn out to be a major challenge from 2018 to 2030.


Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by increase in online transactions as well as a rise in disposable income, suggests the report. Similarly, the payments processing sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the online payment gateway market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2030.


Competitive Landscape


The global online payment gateway market research report brings a comprehensive study of type and application market segments, regional analysis, and payments processing vertical based company details of key players. As the forecast period 2020 to 2030 will bring new opportunities for the market owing to the rise in distribution channels and the growth of communication channels, the market is set to grow at a compound annual growth rate of 10.18% and is predicted to reach a value of US$ 193.27 billion by 2030. With SWOT analysis of payments processing sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the lack of effective communication and the lack of investments from major companies, companies in the payments processing sector can change the way business is done.


Industry News


Mesh7, a stable micro-API portal for contemporary applications, has been acquired by VMware. Mesh7 complements the Tanzu Kubernetes network by providing a stable API management layer. It works in tandem with Tanzu Server Mesh to secure outbound APIs exposed by Tanzu Kubernetes Grid microservices. Mesh7 is a new, young company headquartered in Sunnyvale, California. Amit Jain and Pratik Roychowdhury founded the venture, which developed a specialised API gateway for microservices running in VMs and Kubernetes.