3D Secure Payment Market Growth Outlook Through 2024-2033

 

Overview and Scope
3D Secure payment refers to a security protocol in which an extra layer of security for online credit card and debit card transactions. Customers have to go through an additional verification process with the card issuer while purchasing.

Sizing and Forecast
The 3d secure payment market size has grown rapidly in recent years. It will grow from $1.26 billion in 2023 to $1.43 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The growth in the historic period can be attributed to increasing e-commerce transactions, growing cybersecurity concerns, rise in mobile commerce, increased payment card usage, shift to digital payments..

The 3d secure payment market size is expected to see rapid growth in the next few years. It will grow to $2.38 billion in 2028 at a compound annual growth rate (CAGR) of 13.6%. The growth in the forecast period can be attributed to rise in mobile wallet usage, increased cross-border transactions, adoption by new industry verticals, data security demands, ongoing cybersecurity threats.. Major trends in the forecast period include real-time transaction monitoring, strong customer authentication (sca) compliance, tokenization for secure payments, multi-channel authentication, authentication innovation beyond passwords..

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Segmentation & Regional Insights
The 3d secure payment market covered in this report is segmented –

1) By Component: Merchant Plug-in, Access Control Server, Other Components
2) By Type: On-Premise, Cloud-Based
3) By Application: Banks, Merchants And Payment Gateway

North America was the largest region in the 3D secure payment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the 3D secure payment market report during the forecast period. The regions covered in the 3d secure payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Consumer preferences towards online shopping are expected to propel the growth of the 3D secure payment market going forward. Online shopping refers to a type of electronic commerce in which a customer uses a web browser to browse the internet for products and services before making a purchase. Factors such as customers’ access to more information, opportunities to compare items and pricing, a wider variety of products, convenience, and the ability to quickly locate desired products are helping consumers’ preferences towards online shopping, where 3D Secure payment is an additional layer of cardholder authentication and provides security for online payment. For Instance, in November 2022, according to Tidio Ltd., a Poland-based payment platform for small and medium businesses, in the US, digital buyers are expected to reach 285 million in 2025 as compared to 268 million in 2022. Therefore, consumer preferences towards online shopping are driving the growth of the 3D secure payment market.

Key Industry Players

Major companies operating in the 3D secure payment market are focusing on new product launches to provide optimized customer experience. For instance, in February 2023, PayU, an India-based online payments solution provider, launched a 3DS 2.0 SDK authentication service for Indian merchants. The 3DS 2.0 SDK solution reduces checkout time by 40% and speeds up payments while simultaneously improving security and fraud protection. It enables retailers to comply with the 3DS 2.0 mandate with a simple integration, gives them control over the user experience, provides the best coverage across banks and card networks, and unleashes frictionless biometric capabilities.

 

The 3d secure payment market report table of contents includes:

1.Executive Summary

2.Report Scope

3.3D Printing Global Market Size

4.3D Printing Global Market Segmentation Summary

5.Industry Analysis

 

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9.Company Profiles

10.Appendix

 

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