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Payment Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Publisher IMARC Services Pvt. Ltd.
Published Jun 14, 2023
Length 150 Pages
SKU # IMRC18014950

Description

Payment Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028


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 refers to a system of security solutions and services that is designed to prevent monetary frauds, unauthorized transactions and mitigate the risk of data breaches. It also secures all forms of online financial transactions using data encryption, firewalls and data loss prevention (DLP) protocols. It consists of identity and access management, anti-malware, endpoint security, risk and compliance management and intrusion detection. This, in turn, assists in creating a trustworthy platform, minimizing loss of financial data through regular monitoring of malicious activities and provides protection against continuous threats of cyber security breaches. As a result, payment security solutions are widely used across the information technology (IT), healthcare, banking, financial services, and insurance (BFSI) industries.

Payment Security Market Trends:
Significant growth in the banking, financial services, and insurance (BFSI) industry across the globe is creating a positive outlook for the market. Payment security assists banks in streamlining and automating finance management processes, increasing operational efficacy, and ensuring accurate records across recurring processes, such as invoicing and reconciliation. Additionally, the increasing adoption of digital payment modes and utilization of wireless networks in computing devices for facilitating payments is favoring the market growth. Furthermore, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), machine learning (ML) and artificial intelligence (AI) solutions, are providing an impetus to the market growth. These technologies aid in monitoring transactions, tracking the location of the financial crime, improving accuracy, securing data, mitigating risks, detecting frauds and managing regulatory compliance. In line with this, increasing incidences of payment frauds, cyber-attacks, cyber-crimes, and rising concerns regarding confidential and sensitive data are positively impacting the market growth. Other factors, including rapid digitization, along with the widespread product adoption to fulfil the regulatory requirements of the payment card industry and data security standard (PCI DSS) compliances across the globe, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global payment security market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on 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

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Key Questions Answered in This Report

1. What was the size of the global payment security market in 2022?
2. What is the expected growth rate of the global payment security market during 2023-2028?
3. What are the key factors driving the global payment security market?
4. What has been the impact of COVID-19 on the global payment security market?
5. What is the breakup of the global payment security market based on the component?
6. What is the breakup of the global payment security market based on the platform?
7. What is the breakup of the global payment security market based on the enterprise size?
8. What is the breakup of the global payment security market based on the end user?
9. What are the key regions in the global payment security market?
10. Who are the key players/companies in the global payment security market?

Table of Contents

150 Pages
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Payment Security Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Component
6.1 Solution
6.1.1 Market Trends
6.1.2 Key Segments
 6.1.2.1 Encryption
 6.1.2.2 Tokenization
 6.1.2.3 Fraud Detection and Prevention
6.1.3 Market Forecast
6.2 Service
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Platform
7.1 Web-based
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 POS-based
7.2.1 Market Trends
7.2.2 Market Forecast
8 Market Breakup by Enterprise Size
8.1 Small and Medium-sized Enterprises
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Large Enterprises
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by End User
9.1 BFSI
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Government and Utilities
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 IT and Telecom
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 Healthcare
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 Retail and E-Commerce
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Media and Entertainment
9.6.1 Market Trends
9.6.2 Market Forecast
9.7 Travel and Hospitality
9.7.1 Market Trends
9.7.2 Market Forecast
9.8 Others
9.8.1 Market Trends
9.8.2 Market Forecast
10  Market Breakup by Region
10.1 North America
10.1.1 United States
 10.1.1.1 Market Trends
 10.1.1.2 Market Forecast
10.1.2 Canada
 10.1.2.1 Market Trends
 10.1.2.2 Market Forecast
10.2 Asia-Pacific
10.2.1 China
 10.2.1.1 Market Trends
 10.2.1.2 Market Forecast
10.2.2 Japan
 10.2.2.1 Market Trends
 10.2.2.2 Market Forecast
10.2.3 India
 10.2.3.1 Market Trends
 10.2.3.2 Market Forecast
10.2.4 South Korea
 10.2.4.1 Market Trends
 10.2.4.2 Market Forecast
10.2.5 Australia
 10.2.5.1 Market Trends
 10.2.5.2 Market Forecast
10.2.6 Indonesia
 10.2.6.1 Market Trends
 10.2.6.2 Market Forecast
10.2.7 Others
 10.2.7.1 Market Trends
 10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
 10.3.1.1 Market Trends
 10.3.1.2 Market Forecast
10.3.2 France
 10.3.2.1 Market Trends
 10.3.2.2 Market Forecast
10.3.3 United Kingdom
 10.3.3.1 Market Trends
 10.3.3.2 Market Forecast
10.3.4 Italy
 10.3.4.1 Market Trends
 10.3.4.2 Market Forecast
10.3.5 Spain
 10.3.5.1 Market Trends
 10.3.5.2 Market Forecast
10.3.6 Russia
 10.3.6.1 Market Trends
 10.3.6.2 Market Forecast
10.3.7 Others
 10.3.7.1 Market Trends
 10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
 10.4.1.1 Market Trends
 10.4.1.2 Market Forecast
10.4.2 Mexico
 10.4.2.1 Market Trends
 10.4.2.2 Market Forecast
10.4.3 Others
 10.4.3.1 Market Trends
 10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11  SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12  Value Chain Analysis
13  Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14  Price Analysis
15  Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Bluefin Payment Systems LLC
 15.3.1.1 Company Overview
 15.3.1.2 Product Portfolio
15.3.2 Broadcom Inc.
 15.3.2.1 Company Overview
 15.3.2.2 Product Portfolio
 15.3.2.3 Financials
 15.3.2.4 SWOT Analysis
15.3.3 Cybersource (Visa Inc.)
 15.3.3.1 Company Overview
 15.3.3.2 Product Portfolio
 15.3.3.3 SWOT Analysis
15.3.4 Elavon Inc. (U.S. Bancorp)
 15.3.4.1 Company Overview
 15.3.4.2 Product Portfolio
15.3.5 Ingenico (Worldline)
 15.3.5.1 Company Overview
 15.3.5.2 Product Portfolio
 15.3.5.3 SWOT Analysis
15.3.6 PayPal Holdings Inc.
 15.3.6.1 Company Overview
 15.3.6.2 Product Portfolio
 15.3.6.3 Financials
 15.3.6.4 SWOT Analysis
15.3.7 SecurionPay
 15.3.7.1 Company Overview
 15.3.7.2 Product Portfolio
15.3.8 Shift4 Payments
 15.3.8.1 Company Overview
 15.3.8.2 Product Portfolio
 15.3.8.3 Financials
15.3.9 Signifyd
 15.3.9.1 Company Overview
 15.3.9.2 Product Portfolio
15.3.10 SISA Information Security
 15.3.10.1 Company Overview
 15.3.10.2 Product Portfolio
15.3.11 TokenEx
 15.3.11.1 Company Overview
 15.3.11.2 Product Portfolio
15.3.12 VeriFone Inc.
 15.3.12.1 Company Overview
 15.3.12.2 Product Portfolio
 15.3.12.3 SWOT Analysis

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