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 share, 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 pertains to the strategies and procedures put in place to protect financial transactions carried out through either online or offline channels. Its purpose is to shield vital data such as credit card numbers, bank account specifics, and personal identification details from unauthorized access or fraudulent actions. Payment security encompasses the deployment of diverse technologies, such as encryption, tokenization, and secure sockets layer (SSL) protocols, to guarantee the secure exchange of data among involved parties. This safeguarding mechanism can be applied by educational institutions to ensure the privacy and accuracy of financial information belonging to students and parents.

Global Payment Security Market Trends and Drivers:

The global market is experiencing significant growth due to the increasing utilization of payment security within the e-commerce sector, aiming to secure customer information and ensure safe online transactions. Additionally, the escalating implementation of payment security within the banking, financial services, and insurance (BFSI) industry, aimed at mitigating fraudulent activities like unauthorized transactions and identity theft, is fostering market expansion. Furthermore, the surging application of payment security within the healthcare domain to safeguard delicate patient data, including payment details for medical services, is positively impacting the market. Moreover, the rising adoption of payment security practices by hotels, airlines, and travel agencies to ensure secure bookings and reservations is further propelling market growth.

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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