Payment Security Market By Industry Sector (Hospitality, Telecom and IT, Education, Healthcare) By Component(Solutions, Services).
GLOBAL PAYMENT SECURITY MARKET was valued at USD 10.28 Billion in the year 2017. Global Payment Security Market is further estimated to grow at a CAGR of 15.03% from 2017 to reach USD 27.39 Billion by the year 2023.
North America region holds the highest market share in 2017 and Asia-Pacific market is considered as the fastest growing market in the forecasted period. At a country level, developed markets like the U.S.
as well the emerging markets like China with highest population base holds the notable market share in 2017 and it is projected to grow at a gradual pace in the coming years.
CyberSource Corporation (US), Elavon (US), Index (US), Ingenico ePayments (Netherlands), Transaction Network Services (TNS) Inc. (US), and TokenEx, LLC (US) are some of the key players in the Payment Security Market with CyberSource Corporation holding the substantial market share because of its better technological advancements and global reach.
Technological up-gradation to cater changing demand of end users. Similarly, growth strategies such as acquisition & merger were few techniques adopted by most of the top players in last 5 years.
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Increasing use of digital modes of payment
Lack of trust on online transactions
Increasing use of different payment methods across various industry sectors
Lack of awareness among potential customers
Between Hospitality, Telecom and IT, Education, Healthcare, Retail, Media & Entertainment; Retail segment because of the growing popularity and availability is expected to hold the highest market share during the forecast period.
The Educational segment is also expected to grow at the highest CAGR of XX% during the year 2018-2023.
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Key Benefits for Stakeholders
Payment Security Solutions & Service Providers
Research and Consulting organization
Technology Standards Organizations, Forums, Alliances and Associations
Regulatory bodies, policy actors, and consumers.
By Industry Sector
Telecom and IT
Media & Entertainment
Key Market Players
Bluefin Payment Systems
Transaction Network Services Inc.
Sisa Information Security
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