Published by mark itwired
Posted on August 5, 2021
Future Market Insights (FMI) has recently
published a report titled ‘ePayment
System Market – Global Industry Analysis 2012-2016 and Opportunity
Assessment 2017-2026′. Payment systems are becoming highly complex,
incorporating multiple technologies and diverse platform applications, which,
in turn, has driven the need for complying with ever-growing technical
standards as well as payment scheme requirements. ePayment systems have gained
immense traction over the past few years, mainly because of the increasing
penetration of Internet-based shopping and banking. As the world advances
further with more technological developments, it complements the adoption of
electronic payment systems and processing devices. ePayment systems have
revolutionized business processing by reducing labor cost, transaction cost,
and paperwork. Being less time-consuming and user-friendly than manual processing,
ePayment systems are enabling business organizations in expanding their market
reach.
To Get Sample Copy of Report Visit
@ https://www.futuremarketinsights.com/reports/sample/rep-gb-5813
Global
ePayment System Market: Dynamics
The global ePayment system market is expected to grow
at a CAGR of 13.4% in terms of value during the forecast period. The ePayment
system market is estimated to be valued at US$ 256,078.0 Mn in 2017, and is
projected to grow significantly to reach US$ 793,797.4 Mn by 2026. Furthermore,
the growth of the global ePayment system market can be primarily attributed to
the rapid expansion of the e-Commerce sector, along with the increasing
consumer demand for a quick, easy, secure, and streamlined shopping experience.
Several businesses are upgrading their payment terminals, creating further
opportunity for retailers to offer additional payment options. In addition, the
proliferation of smartphones is positively supporting the growth of the
ePayment system market across the globe.
Global
ePayment System Market: Segmental Analysis
In this report, FMI has segmented the global ePayment system
market on the basis of product type, payment mode, and region. By product type,
the ePayment system market is sub-segmented into software platforms and
services. The software platforms sub-segment is poised to reflect higher
lucrativeness, and is likely to lead the global ePayment system market in the
years to follow. This segment showcases dual dominance, in terms of both,
market share and growth rate for the ePayment system market during the forecast
period. Due to the rising e-Commerce market, the software platforms sub-segment
of the global ePayment system market is expected to account for more than 65%
market share in 2017. In addition, the services sub-segment of the ePayment
system market is estimated to register a high CAGR of 12.5% during the forecast
period. This segment is estimated to reach US$ 229,810.2 Mn by the end of 2026
in the ePayment system market.
For
More Details, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-5813
On the basis of payment mode,
the global ePayment system market is sub-segmented into credit cards,
e-wallets, debit & other cards, bank transfer, cash on delivery, and other
modes. The credit cards sub-segment is estimated to dominate the overall
ePayment System market. This segment is estimated to reach US$ 272,470.3 Mn by
the end of 2026. In addition, the e-wallets ePayment system segment is expected
to expand at a 15.2% CAGR over the forecast period in the ePayment systems
market, and be valued at US$ 190,697.2 Mn by 2026 end.
Global
ePayment System Market: Regional Analysis
Furthermore, on the basis of geography, North America is
expected to dominate the global ePayment system market, due to the ongoing
technological advancements in the U.S. and Canada. The ePayment system market
has high potential in APEJ, owing to the growth of e-Commerce in India and
China. In recent years, the ePayment system market in APEJ has witnessed
significant growth because governments in the region taking initiatives to
promote digital payments. The Western European ePayment system market will be a
target market for market participants.
According to FMI analysis, long-term contracts with business
partners help increase revenue, and new innovation strategies enable ePayment
system vendors reach new growth markets. Some of the market participants
featured in the global ePayment system market are LightPointe Communications,
Nakagawa Labs, LVX System, General Electric, Wipro, VLNComm, Philips, Oledcomm,
Velmenni, and pureLiFi.
More about Technology
Market Insights:
Unified Communication
as a Service (UCaaS) Market
Future Market Insights (FMI) has recently
published a report titled ‘ePayment
System Market – Global Industry Analysis 2012-2016 and Opportunity
Assessment 2017-2026′. Payment systems are becoming highly complex,
incorporating multiple technologies and diverse platform applications, which,
in turn, has driven the need for complying with ever-growing technical
standards as well as payment scheme requirements. ePayment systems have gained
immense traction over the past few years, mainly because of the increasing
penetration of Internet-based shopping and banking. As the world advances
further with more technological developments, it complements the adoption of
electronic payment systems and processing devices. ePayment systems have
revolutionized business processing by reducing labor cost, transaction cost,
and paperwork. Being less time-consuming and user-friendly than manual processing,
ePayment systems are enabling business organizations in expanding their market
reach.
To Get Sample Copy of Report Visit
@ https://www.futuremarketinsights.com/reports/sample/rep-gb-5813
Global
ePayment System Market: Dynamics
The global ePayment system market is expected to grow
at a CAGR of 13.4% in terms of value during the forecast period. The ePayment
system market is estimated to be valued at US$ 256,078.0 Mn in 2017, and is
projected to grow significantly to reach US$ 793,797.4 Mn by 2026. Furthermore,
the growth of the global ePayment system market can be primarily attributed to
the rapid expansion of the e-Commerce sector, along with the increasing
consumer demand for a quick, easy, secure, and streamlined shopping experience.
Several businesses are upgrading their payment terminals, creating further
opportunity for retailers to offer additional payment options. In addition, the
proliferation of smartphones is positively supporting the growth of the
ePayment system market across the globe.
Global
ePayment System Market: Segmental Analysis
In this report, FMI has segmented the global ePayment system
market on the basis of product type, payment mode, and region. By product type,
the ePayment system market is sub-segmented into software platforms and
services. The software platforms sub-segment is poised to reflect higher
lucrativeness, and is likely to lead the global ePayment system market in the
years to follow. This segment showcases dual dominance, in terms of both,
market share and growth rate for the ePayment system market during the forecast
period. Due to the rising e-Commerce market, the software platforms sub-segment
of the global ePayment system market is expected to account for more than 65%
market share in 2017. In addition, the services sub-segment of the ePayment
system market is estimated to register a high CAGR of 12.5% during the forecast
period. This segment is estimated to reach US$ 229,810.2 Mn by the end of 2026
in the ePayment system market.
For
More Details, Ask Analyst @ https://www.futuremarketinsights.com/ask-question/rep-gb-5813
On the basis of payment mode,
the global ePayment system market is sub-segmented into credit cards,
e-wallets, debit & other cards, bank transfer, cash on delivery, and other
modes. The credit cards sub-segment is estimated to dominate the overall
ePayment System market. This segment is estimated to reach US$ 272,470.3 Mn by
the end of 2026. In addition, the e-wallets ePayment system segment is expected
to expand at a 15.2% CAGR over the forecast period in the ePayment systems
market, and be valued at US$ 190,697.2 Mn by 2026 end.
Global
ePayment System Market: Regional Analysis
Furthermore, on the basis of geography, North America is
expected to dominate the global ePayment system market, due to the ongoing
technological advancements in the U.S. and Canada. The ePayment system market
has high potential in APEJ, owing to the growth of e-Commerce in India and
China. In recent years, the ePayment system market in APEJ has witnessed
significant growth because governments in the region taking initiatives to
promote digital payments. The Western European ePayment system market will be a
target market for market participants.
According to FMI analysis, long-term contracts with business
partners help increase revenue, and new innovation strategies enable ePayment
system vendors reach new growth markets. Some of the market participants
featured in the global ePayment system market are LightPointe Communications,
Nakagawa Labs, LVX System, General Electric, Wipro, VLNComm, Philips, Oledcomm,
Velmenni, and pureLiFi.
More about Technology
Market Insights:
Unified Communication
as a Service (UCaaS) Market
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