Report

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Global Payment Security Market Size, Share & COVID-19 Impact Analysis, By Offering (Solution {Encryption, Tokenization, Fraud Detection and Prevention} and Services, Integration Services, Support Services, Consulting Services), By Platform (Web Platform and PoS Platform), By Transportation Mode (Banking Cards, Digital Wallets, Internet Banking, Point of Sales and Others), By Industry Vertical (Retail Travel and Hospitality, Healthcare, IT and Telecom, BFSI, Media and Entertainment and Others), By Organization Size (Large Enterprises and Small and Medium-Sized Enterprises), and Regional Forecasts, 2022-2028

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The global payment security market size was valued at USD 19.5 billion in 2021. The market is projected to grow from USD 19.5 billion in 2021 to USD 47.02 billion by 2028, exhibiting a CAGR of 15.80% during the forecast period.
 
Payment security is a term used to describe a collection of security products and services created to reduce the risk of data breaches, stop financial fraud, and stop unauthorized transactions. Additionally, it uses data encryption, firewalls, and data loss prevention (DLP) protocols to secure all kinds of online financial transactions. The industry's notable growth in the banking, financial services, and insurance (BFSI) sectors are producing a favorable picture of the market. Payment security aids banks in streamlining and automating financial management procedures, boosting operational effectiveness and maintaining correct records throughout recurring activities like invoicing and reconciliation. Additionally, wireless networks in computing devices for payment facilitation and the growing usage of digital payment methods encourage market expansion. Several technological developments, including the use of artificial intelligence (AI) and machine learning (ML)  solutions, as well as the connection of connected devices to the Internet of Things (IoT), are also boosting the market expansion.
 
COVID-19 IMPACT

The COVID-19 pandemic epidemic has boosted the use of digital payment methods, which has greatly accelerated the expansion of the payment security business. Real-time payments are predicted to see exponential growth due to the COVID-19 pandemic, according to research released by the ACI in April 2020, with more than a trillion transactions and a compound annual growth rate of about 23% between 2019 and 2024. Numerous banks' digital transformation plans have advanced significantly due to the sudden upsurge in digital adoption. Banking leaders now see online banking services as a crucial tool for boosting customer retention and expanding revenue streams through individualized services.
 
DRIVING FACTORS

Increased Data Breach Frequency Will Drive Market Growth

Businesses use payment security to visualize data based on hidden correlations and patterns and gain new insights. An increase in data breaches is anticipated to accelerate the adoption of secure payment options. Its adoption is also anticipated to be boosted by quick advancements in secure payment technologies. Wallets, Unified Payment Interfaces (UPI), and other digital payment methods are expected to become increasingly popular, increasing the demand for secure payment methods. In addition, this industry is anticipated to benefit from the expanding use of Big Data, 5G services and cloud technologies. The market for payment security may grow as a result of these factors.
 
RESTRAINING FACTORS

Adaptation of Advanced Technology May Hamper the Market  Growth

Like every other big firm currently operating, the global payment security market has several restrictions. Many businesses are currently making the switch to using digital payment methods. However, the pace of adoption of modern technology is not at all what it should be. For businesses in the payment security industry, this poses a sizable barrier to entry. The inability of businesses to look into security problems and take action to strengthen the platform is another barrier for the Payment Security industry. Numerous organizations are unable to achieve both, which is a concern. Even if government requirements drive research and growth in the payment security industry, stricter rules typically act as a limitation.
 
SEGMENTATION

By Industry Vertical

Based on industry vertical, the payment security market is segmented into retail, travel and hospitality, healthcare, IT and telecom, BFSI, media and entertainment and others. The retail category dominated the market in 2021. Government support, the widespread use of smartphones, and online applications are all driving the adoption of mobile payments in retail, particularly in the e-commerce sector. Security solution demand will probably rise due to the promise of an improved shopping experience.

Besides, the travel and hospitality category is anticipated to grow significantly over the forecast period. Increased consumer spending across the board can be credited to this. Additionally, it is anticipated that the popularity of e-wallets and mobile payments among millennials will significantly boost the payment security market.
 
By Organization Size



By organization size, the market is segmented into large enterprises and small and medium-sized enterprises. The large enterprise category dominated the market in 2021. Large enterprise use of high-value transactions is causing a demand for payment security solutions. As a result, several businesses have begun creating security solutions to protect their payments and transactions.

Besides, the small and medium-sized enterprises category is anticipated to grow significantly over the forecast period. These solutions, including encryption and tokenization, are being adopted by small and medium-sized businesses more frequently. Due to their vulnerability to cyberattacks and the loss of sensitive documents and financial information, SMEs must emphasize payment security equally.
 
REGIONAL INSIGHTS



North America is projected to hold the largest share of the payment security market over the forecast period. The demand for security solutions is rising due to the rapid rise of real-time payments in North America, which has shown significant year-over-year growth. Furthermore, introducing cutting-edge technology-enabled mobile payment services based on these security solutions is another area of attention for major North American mobile payment market companies, such as Apple, Inc., Samsung, and others.
 
On the other hand, the Asia Pacific payment security market is anticipated to grow significantly over the forecast period. Consumers are increasingly using online digital payments, which helps the market expand in this region. For instance, the APAC region is moving toward online digital payment methods at a rate of about 60%. Expanding the retail & consumer goods startup scene in nations like China, India, and Japan contributes to APAC's growth. Digital payments are being adopted more widely throughout the region due to consumer acceptance of mobile payments. One of the key factors driving the regional market's growth is China's booming retail sector.
 
LIST OF KEY COMPANIES PROFILED:  
KEY INDUSTRY DEVELOPMENTS:
  • February 2022: Outseer Emerging Payments is a strategic development step for the company. Outseer announced its first expansion outside its payment authentication solution, Outseer 3D Secure, enabling growth and client value beyond conventional card-not-present (CNP) transactions.
  • September 2021: PayPal unveiled its app, which would provide users access to all of their accounts in one place and give them control over their finances. The organization may be able to improve its service offerings and boost its brand image using this method.
 
REPORT SCOPE AND SEGMENTATION
 
Attributes Details
Study Period 2016-2028
Base Year 2021
Estimated Year 2022
Forecast Period 2022-2028
Historical Period 2016-2020
Unit Revenue (USD Million) and Volume (Kilo Tons)
Segmentation By Offerings, Platform, Transportation Mode, Industry Vertical, Organization Size, and By Geography
By Offering
  • Solution
    • Encryption
    • Tokenization
    • Fraud Detection and Prevention
  • Services
    • Integration Services
    • Support Services
    • Consulting Services
By Platform
  • Web Platform
  • PoS Platform
By Transportation Mode
  • Banking Cards
  • Digital Wallets
  • Internet Banking
  • Point of Sales
  • Others
By Industry Vertical
  • Retail
  • Travel and Hospitality
  • Healthcare
  • IT and Telecom
  • BFSI
  • Media and Entertainment
  • Others
By Organization Size
  • Large Enterprises
  • Small and Medium-Sized Enterprises
By Region
  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • South-east Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East and Africa
CHAPTER NO. 1 :    Preface

    1.1.    Report Scope and Description
        1.1.1.    Study Purpose
        1.1.2.    Target Audience
        1.1.3.    USP and Key Offerings
    1.2.    Key Benefits for Stakeholders
    1.3.    Report Scope

CHAPTER NO. 2 :    Report Summary

    2.1.    Key Findings
        2.1.1.    Top Investment Pockets
        2.1.1.1.    Fiberglass Market Attractiveness Analysis, By Offering
        2.1.1.2.    Fiberglass Market Attractiveness Analysis, By Platform
        2.1.1.3.    Fiberglass Market Attractiveness Analysis, By Transportation Mode
        2.1.1.4.    Fiberglass Market Attractiveness Analysis, By Region
    2.2.    Market Snapshot: Global Fiberglass Market
    2.3.    Global Fiberglass Market, 2022 – 2028 (US$ Mn)

CHAPTER NO. 3 :    COVID 19 IMPACT ANALYSIS

    3.1.    Impact Assessment of COVID-19 Pandemic, By Region
        3.1.1.    North America: Impact of COVID-19 Pandemic
        3.1.2.    Europe: Impact of COVID-19 Pandemic
        3.1.3.    Asia Pacific: Impact of COVID-19 Pandemic
        3.1.4.    Latin America: Impact of COVID-19 Pandemic
        3.1.5.    The Middle-East and Africa: Impact of COVID-19 Pandemic
    3.2     Key Strategies Undertaken by Companies to Tackle COVID-19
    3.3.    Quarterly Market Revenue by Region 2021 & 2022
    3.4.    Pre COVID-19 Market Revenue, By Region, 2016-2019 (US$ Mn)
    3.5.    Post COVID-19 Market Revenue, By Region, 2020-2028 (US$ Mn)
    3.6.    Short Term Dynamics
    3.7.    Long Term Dynamics

CHAPTER NO. 4 :    Fiberglass Market – BY Offering SEGMENT ANALYSIS

    4.1.    Fiberglass Market Overview, by Offering Segment
        4.1.1.    Fiberglass Market Revenue Share, By Offering, 2021 & 2028
    4.2.    Solution
    4.3.    Services

CHAPTER NO. 5 :    Fiberglass Market – BY Platform SEGMENT ANALYSIS

    5.1.    Fiberglass Market Overview, by Platform Segment
        5.1.1.    Fiberglass Market Revenue Share, By Platform, 2021 & 2028
    5.2.    Web Platform
    5.3.    PoS Platform

CHAPTER NO. 6 :    Fiberglass Market – BY Transportation Mode SEGMENT ANALYSIS

    6.1.    Fiberglass Market Overview, by Transportation Mode Segment
        6.1.1.    Fiberglass Market Revenue Share, By Transportation Mode, 2021 & 2028
    6.2.    Banking Cards
    6.3.    Digital Wallets
    6.4.    Internet Banking
    6.5.    Point of Sales
    6.6.    Others

CHAPTER NO. 7 :    Fiberglass Market – REGIONAL ANALYSIS

    7.1.    Fiberglass Market Overview, by Region Segment
        7.1.1.    Global Fiberglass Market Revenue Share, By Region, 2021 & 2028
        7.1.2.    Global Fiberglass Market Revenue, By Region, 2017 – 2028 (US$ Mn)
        7.1.3.    Global Fiberglass Market Revenue, By Offering, 2017 – 2028 (US$ Mn)
        7.1.4.    Global Fiberglass Market Revenue, By Platform, 2017 – 2028 (US$ Mn)
        7.1.5.    Global Fiberglass Market Revenue, By Transportation Mode, 2017 – 2028 (US$ Mn)
    7.2.    North America
        7.2.1.    North America Fiberglass Market Revenue, By Country, 2018 – 2028 (US$ Mn)
        7.2.2.    North America Fiberglass Market Revenue, By Offering, 2018 – 2028
        7.2.3.    North America Fiberglass Market Revenue, By Platform, 2018 – 2028
        7.2.4.    North America Fiberglass Market Revenue, By Transportation Mode, 2018 – 2028
        7.2.5.    U.S. Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.2.6.    Canada Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.2.7.    Mexico Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
    7.3.    Europe
        7.3.1.    Europe Fiberglass Market Revenue, By Country, 2022 – 2028 (US$ Mn)
        7.3.2.    Europe Fiberglass Market Revenue, By Offering, 2022 – 2028
        7.3.3.    Europe Fiberglass Market Revenue, By Platform, 2022 – 2028
        7.3.4.    Europe Fiberglass Market Revenue, By Transportation Mode, 2022 – 2028
        7.3.5.    Germany Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.6.    France Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.7.    U.K. Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.8.    Italy Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.9.    Spain Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.3.10.    Rest of Europe Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
    7.4.    Asia Pacific
        7.4.1.    Asia Pacific Fiberglass Market Revenue, By Country, 2022 – 2028 (US$ Mn)
        7.4.2.    Asia Pacific Fiberglass Market Revenue, By Offering, 2022 – 2028
        7.4.3.    Asia Pacific Fiberglass Market Revenue, By Platform, 2022 – 2028
        7.4.4.    Asia Pacific Fiberglass Market Revenue, By Transportation Mode, 2022 – 2028
        7.4.5.    China Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.6.    Japan Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.7.    India Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.8.    South Korea Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.9.    South-East Asia Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.4.10.    Rest of Asia Pacific Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
    7.5.    Latin America
        7.5.1.    Latin America Fiberglass Market Revenue, By Country, 2022 – 2028 (US$ Mn)
        7.5.2.    Latin America Fiberglass Market Revenue, By Offering, 2022 – 2028
        7.5.3.    Latin America Fiberglass Market Revenue, By Platform, 2022 – 2028
        7.5.4.    Latin America Fiberglass Market Revenue, By Transportation Mode, 2022 – 2028
        7.5.5.    Brazil Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.5.6.    Argentina Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.5.7.    Rest of Latin America Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
    7.6.    The Middle-East and Africa
        7.6.1.    The Middle-East and Africa Fiberglass Market Revenue, By Country, 2022 – 2028 (US$ Mn)
        7.6.2.    The Middle-East and Africa Fiberglass Revenue, By Offering, 2022 – 2028
        7.6.3.    The Middle-East and Africa Fiberglass Market Revenue, By Platform, 2022 – 2028
        7.6.4.    The Middle-East and Africa Fiberglass Market Revenue, By Transportation Mode, 2022 – 2028
        7.6.5.    GCC Countries Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.6.6.    South Africa Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)
        7.6.7.    Rest of Middle-East Africa Fiberglass Market Revenue, 2016 - 2028 (US$ Mn)

CHAPTER NO. 8 :    Fiberglass Market – INDUSTRY ANALYSIS

    8.1.    Introduction
    8.2.    Market Drivers
        8.2.1.    Driving Factor 1 Analysis
        8.2.2.    Driving Factor 2 Analysis
    8.3.    Market Restraints
        8.3.1.    Restraining Factor Analysis
    8.4.    Market Opportunities
        8.4.1.    Market Opportunity Analysis
    8.5.    Porter’s Five Forces Analysis
    8.6.    PEST Analysis
    8.7.    Regulatory Landscape
    8.8.    Technology Landscape
    8.9.    Value Chain Analysis

CHAPTER NO. 9 :    COMPETITIVE LANDSCAPE

    9.1.    Company Market Share Analysis – 2021
        9.1.1.    Global Fiberglass Market: Company Market Share, 2022
        9.1.2    Global Fiberglass Market: Company Market Share, 2022
    9.2.    Strategic Developments
        9.2.1.    Acquisitions & Mergers
        9.2.2.    New Product Launch
        9.2.3.    Regional Expansion
    9.3.    Company Strategic Developments – Heat Map Analysis

CHAPTER NO. 10 : COMPANY PROFILES

    10.1.    Owens Corning
        10.1.1.    Company Overview
        10.1.2.    Key Executives
        10.1.3.    Product Portfolio
        10.1.4.    Financial Overview
        10.1.5.    Operating Business Segments
        10.1.6.    Business Segment Performance
        10.1.7.    Recent Developments
    10.2.    Jushi Group Co., Ltd
    10.3.    Taishan Fiberglass Inc.
    10.4.    Johns Manville
    10.5.    Chongqing Polycomp International Corp.
    10.6.    Xingtai Jinniu Fiberglass Co., Ltd
    10.7.    Shandong Fiberglass Group Co., Ltd
    10.8.    Glasstex Fiberglass Materials Corp.

CHAPTER NO. 11 :    RESEARCH METHODOLOGY

    11.1.    Research Methodology
    11.2.    Phase I - Secondary Research
    11.3.    Phase II - Data Modeling
        11.3.1.    Company Share Analysis Model
        11.3.2.    Revenue Based Modeling
    11.4.    Phase III - Primary Research
    11.5.    Research Limitations
        11.5.1.    Assumptions
No Methodology
No Available