Payment Security Market Size is projected to reach $24.63 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7% to grow from $ 11.39 billion in 2017.
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The report covers the Payment Security Market offered across different regions. Furthermore, the report also includes an in-depth competitive analysis of the key market players along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Payment Security Market aims at estimating the market size and growth potential of this market across different segments, such as solutions and services, organization size, verticals, and regions.
The payment security ecosystem includes major vendors such as Braintree (Illinois, US), CyberSource Corporation (California, US), Elavon (Georgia, US), Index (Nevada, US), Ingenico payments (Hoofddorp, Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (Virginia, US), Shift4 Corporation (Nevada, US), Transaction Network Services (TNS) Inc.
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(Virginia, US), and TokenEx, LLC (Oklahoma, US). Other stakeholders include system integrators, payment security service providers, consulting firms, Information Technology (IT) service providers, Value-Added Resellers (VARs), enterprise users, and security and access management technology, providers.
The key target audience of the payment security market report is given below:
- Government agencies
- Payment security vendors
- Network solution providers
- Independent software vendors
- Consulting firms
- System integrators
- Managed Security Service Providers (MSSPs)
The growth of the payment security market is driven by various factors, such as increased adoption of digital payment models, need to adhere to PCI guidelines, and rise in fraudulent activities on eCommerce. However, lack of trust in online banking may restrict the growth of the payment security market.
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The popularity of online shopping is increasing in the retail industry. Retail merchants regularly face a challenge in managing consumer's sensitive data related to payment cards and complying with the regulations.
This vertical is one of the most targeted verticals by cyber-attackers because of the potential payouts and a huge number of monetary transactions made via VISA, MasterCard, and other payment processing networks. This necessitates substantial investments in payment security solutions by this vertical, making it the highest contributor in the payment security market.
Key Benefits of Getting the Report
- The report will help the market leaders/new entrants in the payment security market with information on the closest approximations of the revenue numbers for the overall payment security market and sub segments.
- This report will help stakeholders to understand the competitor landscape, gain more insights to position their businesses better, and plan suitable go-to-market strategies.
- The report also helps the stakeholders to understand the pulse of the market, and it provides them with information on the key market drivers, restraints, challenges, and opportunities.
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