The Payment Gateway Global Market Report 2023, provides comprehensive information on the payment gateway market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global payment gateway market size is expected to grow from $27.32 billion in 2022 to $32.05 billion in 2023 at a compound annual growth rate (CAGR) of 17.31%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global payment gateway market size is expected to reach $60.00 billion in 2027 at a CAGR of 16.97%.
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Voice recognition technology in payment solutions is a key trend gaining popularity in the payment gateway market. Companies operating in the payment gateway market are adopting new technologies to sustain their position in the market. For instance, in February 2023, Ubona Technologies, an India-based speech recognition company, launched 123 UPI, a first-of-its-kind speech recognition technology-based payments solution that allows users to make digital payments in their preferred Indian language using any phone (feature phone or smartphone). This solution employs an automatic speech recognition engine to assist people in transacting in their preferred Indian language, allowing them to make digital payments in their native language.
The payment gateway market is segmented:
1) By Type: Hosted, Non-Hosted
2) By Enterprise Size: Large Enterprise, Small And Medium Enterprise
3) By End-User: Travel And Hospitality, Banking, Financial Services And Insurance (BFSI), Retail And E-Commerce, Media And Entertainment, Other End Users
North America was the largest region in the payment gateway market in 2022.
The table of contents in TBRC’s payment gateway market report includes:
1. Executive Summary
2. Payment Gateway Market Characteristics
3. Payment Gateway Market Trends And Strategies
4. Payment Gateway Market – Macro Economic Scenario
5. Payment Gateway Market Size And Growth
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26. Africa Payment Gateway Market
27. Payment Gateway Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Payment Gateway Market
29. Payment Gateway Market Future Outlook and Potential Analysis
30. Appendix
Top Major Players:
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