The payment security market reached US$20.5 billion in 2021 and is expected to reach US$47.7 billion by 2027
According to the latest report from the IMARC group, “Global payment security market Size, Share, Growth, Industry Trends, Opportunities and Forecast 2022-2027“, the global payment security market reached a value of US$20.5 billion in 2021. Looking ahead, IMARC Group expects the market to reach a value of US$47.7 billion. US Dollars by 2027, growing at a CAGR of 14.40% in 2022-2027.
Payment Security represents the system of security solutions and services designed to prevent unauthorized transactions, monetary fraud and mitigate the risk of data breaches. This typically involves anti-malware, endpoint security, identity and access management, risk and compliance management, intrusion detection, and more. ongoing threats of cybersecurity breaches. Therefore, payment security solutions find wide applications in multiple industries including banking, financial services and insurance (BFSI), information technology (IT), healthcare, and more.
|Base year: 2021|
|Forecast year: 2022-2027|
Payment security market Trends and Drivers:
Rising concern over the security of confidential and sensitive data, owing to the increasing prevalence of cyber crimes, is primarily driving the payment security market. Additionally, the increasing use of wireless networks in computing devices to facilitate payments is also driving the growth of the market.
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In addition, the widespread adoption of payment security solutions to meet regulatory requirements for Data Security Standard (PCI DSS) compliance acts as another significant growth driver. Moreover, the growing demand for digital payment methods is positively influencing the global payment security market.
In addition, numerous technological advancements including the integration of Internet of Things (IoT) connected devices, machine learning (ML) and artificial intelligence (AI) that help locate financial crime, monitoring transactions, improving accuracy, risk mitigation, fraud detection, regulatory compliance management, etc. are expected to drive the payment security market over the forecast period.
To note: We regularly monitor the direct effect of COVID-19 on the market, as well as the indirect influence of associated industries. These observations will be incorporated into the report.
Global payment security Marlet Analysis and segmentation 2022-2027:
The competitive landscape of the market has been studied in the report along with the detailed profiles of key players operating in the market.
Bluefin Payment Systems LLC, Broadcom Inc., Cybersource (Visa Inc.), Elavon Inc. (US Bancorp), Ingenico (Worldline), PayPal Holdings Inc., SecurionPay, Shift4 Payments, Signifyd, SISA Information Security, TokenEx and VeriFone Inc.
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The report has segmented the market based on region, component, platform, company size, and end user.
Breakdown by component:
- Fraud detection and prevention
Breakdown by platform:
Breakdown by business size:
- Small and medium enterprises
- Large companies
Breakdown by end user:
- Government and public services
- IT and Telecom
- Health care
- Retail and e-commerce
- Media and entertainment
- travel and hospitality
Breakdown 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
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Main highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- Porter’s Five Forces Analysis
- Market drivers and success factors
- SWOT analysis
- Value chain
- Complete mapping of the competitive landscape
If you need specific information that is not currently covered in the report, we can provide it to you as part of the customization.
The IMARC Group is a leading market research firm providing management strategies and market research worldwide. We partner with clients across all industries and geographies to identify their most important opportunities, address their most critical challenges and transform their businesses.
IMARC’s information products include major business, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverages, travel and tourism, nanotechnology and new processing methods are at the top of the list. company expertise.
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