Global Payment Security Market Overview 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Payment security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global Payment security market report, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

The global payment security market size reached US$ 23.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.0 Billion by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.

Payment security is a system of security solutions and services to ensure and safeguard sensitive financial data. It comprises a wide range of technologies, processes, and practices that collectively create a secure environment for conducting electronic payments. It also involves robust encryption methods, secure authentication processes, and advanced fraud detection mechanisms to mitigate risks associated with data breaches and unauthorized transactions. It assists in preventing fraudulent activities and increasing operational efficiency in recurring processes, such as reconciliation and invoicing. Besides this, it aids in automating and streamlining financial management processes and ensuring accuracy in data records.

Global Payment Security Market Trends and Drivers:

At present, the increasing adoption of digital payment methods across various industries represents one of the major factors propelling the market growth. Besides this, the growing demand for convenience, high security, and transparency in financial transactions is offering a positive market outlook. In line with this, the increasing number of cybercrimes or cyberattacks across the globe is bolstering the growth of the market. Moreover, the rising investments in advanced technologies, such as tokenization, biometric authentication, and real-time transaction monitoring among businesses to secure their payment ecosystems, are contributing to the growth of the market. Furthermore, the increasing awareness of contactless payments among individuals around the world is strengthening the growth of the market.

Global Payment Security Market 2023-2028 Analysis and Segmentation:

Top Key Players covered in this report are: Bluefin Payment Systems LLC, Broadcom Inc., Cybersource (Visa Inc.), Elavon Inc. (U.S. Bancorp), Ingenico (Worldline), PayPal Holdings Inc., SecurionPay, Shift4 Payments, Signifyd, SISA Information Security, TokenEx and VeriFone Inc.

The report segmented the market on the basis of region, component, platform, enterprise size and end user.

Breakup by Component:

  • Solution
    • Encryption
    • Tokenization
    • Fraud Detection and Prevention
  • Service

Breakup by Platform:

  • Web-based
  • POS-based

Breakup by Enterprise Size:

  • Small and Medium-sized Enterprises
  • Large Enterprises

Breakup by End User:

  • BFSI
  • Government and Utilities
  • IT and Telecom
  • Healthcare
  • Retail and E-Commerce
  • Media and Entertainment
  • Travel and Hospitality
  • Others

Breakup by Region:

  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa

Key highlights of the report:

  • Market Performance (2017-2022)
  • Market Outlook (2023- 2028)
  • Porter's Five Forces Analysis
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Value Chain
  • Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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