How Will The Buy Now Pay Later Market Size Analysis Impact The Growth Forecast?
The buy now pay later market size depicts considerable growth, from $231.51 billion in 2024 to an estimated $343.52 billion in 2025, growing at a compound annual growth rate (CAGR) of 48.4%. The growth during the historic period can be attributed to a variety of factors including the rise of digital wallets and mobile payments, increased e-commerce activity and online shopping trends, escalating consumer demand for flexible payment options, an emerging consumer base of millennials and Gen Z and competition among payment service providers.
Moving forward, the buy now pay later market size is projected to soar to $1438.64 billion in 2029 at a CAGR of 43.1%. Key factors driving this growth include anticipated growth in cross-border e-commerce, the potential integration of BNPL services into physical retail stores, increased focus on responsible lending and consumer protection, and the rise of embedded finance and BNPL as a service.
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What Are The Key Drivers Accelerating the Buy Now Pay Later Market?
Adoption of online payment methods is expected to fuel the growth of the buy-now-pay-later market. With this financing option, customers can make purchases both offline and online with fast payments. As per UK Finance, In 2022, remote banking saw wide adoption in the UK, with 86% of adults utilizing at least one method of remote banking, bolstering the increase in the adoption of online payment methods and driving the buy-now-pay-later market growth.
What Are The Notable Segments in the Buy Now Pay Later Market?
1) By Channel: Online, POS
2) By Enterprise Size: Large Enterprises, Small and Medium Enterprises
3) By End Use: Consumer Electronics, Fashion and Garment, Healthcare, Leisure and Entertainment, Retail, Others End-User
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Who Are The Major Players in The Buy Now Pay Later Market?
Major companies operating in the buy now pay later market include Paytm Postpaid, PayPal Holdings Inc., Affirm Inc., Klarna Inc., Splitit Ltd., Sezzle Inc., Perpay Inc., Openpay, Quadpay Inc., LatitudePay, Laybuy Group Holdings Limited, Payl8r (Social Money Ltd. ), ePayLater, Zest Money, Lazypay, Afterpay Ltd., Zip Co Ltd., FuturePay Inc., Bread Finance, PayBright, Zebit Inc., Uplift, ViaBill, Sunbit, Katapult, Credova, Acima Credit, Progressive Leasing, Flexiti Financial, LendCare, PayTomorrow, Payzer, QuickFee, SmartPay Leasing, SplitPay, Zibby.
What Are The Emerging Trends in The Buy Now Pay Later Market?
Technological advancement is a significant trend gaining traction in the buy-now-pay-later market. In January 2022, Temenos, a Switzerland-based software and apps company, launched the first AI-driven buy-now-pay-later banking service. The offering aims to provide additional revenue options to banks and fintechs, assist in expanding into new areas, and strengthen relationships with customers and business partners, boosting the growth of the buy-now-pay-later market.
Which Regions Are Emerging as Dominant in The Buy Now Pay Later Market?
North America had the largest market share in the buy now pay later market in 2024. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period.
What Does The Buy Now Pay Later Market Report 2025 Offer?
Buy now, pay later refers to a type of short-term financing that allows consumers to make purchases and pay for them at a future date, often interest-free. It is used as a type of instalment loan. The Buy Now Pay Later Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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