Buy Now Pay Later Market by Channel (Online and Point of Sale (PoS)), by Application (Retail Goods, Media & Entertainment, Healthcare & Wellness, Automotive, Home Improvement, and Others), by End User (Generation X, Generation Z/Millennials, and Baby Boomers) – Global Opportunity Analysis and Industry Forecast, 2023–2030
The Buy Now Pay Later (BNPL) Market size was valued at USD 112.17 billion in 2022, and is predicted to reach USD 725.36 billion by 2030, with a CAGR of 22.2% during the forecast period, 2023–2030.
Growing consumer preference towards online payments and easy & quick availability of pay later services from providers foster the growth of the buy now pay later market.
However, problems related to late fees and the impact on credit scores are expected to restrain the growth of the market during the forecast period. On the contrary, the rising adoption of the buy now pay later option in online platforms is expected to create ample growth opportunities for the market in the coming years.
Segment Overview
The global buy now pay later industry is segmented on the basis of channel, application, end user, and region.
By channel, the market is classified into online and point of sale (PoS).
By application, the market is categorized into retail goods, media & entertainment, healthcare & wellness, automotive, home improvement, and others.
By end user, the market is bifurcated into generation x, generation z/millennials, and baby boomers.
By region, the market is segmented into North America, Europe, Asia-Pacific, and RoW.
Regional Analysis
North America holds the dominant market share
Owing to the widespread use of credit cards in the region, the U.S., in particular, will encourage the spread of BNPL services. The BNPL market is anticipated to experience strong demand as customers seek more flexible and easy payment options. The distinction between buy now pay later and credit card services is anticipated to become competitive with the entry of corporations such as Mastercard, VISA, and PayPal. Moreover, the research identifies some major market trends, including the emergence of new competitors, the intensifying emphasis on the customer experience, and data-driven insights.
Key Market Players
The key players in the global buy now pay later market research include companies such as:
• Affirm Holdings, Inc.
• Atome
• Block, Inc. (Square)
• Klarna Bank AB (PULP)
• Latitude
• Openpay
• PayPal Holdings, Inc.
• Sezzle
• Scalapay
• Zip Co. Ltd. (Zip)
Recent Developments
November 2022
Zip Co. Ltd. acquired QuadPay, an American BNPL firm, to expand its reach to more than 3.5 million customers and 26,000 merchant partners worldwide. Through this acquisition, Zip aimed to create a more than USD 1 billion global payments company.
November 2022
Sezzle partnered with Sensepass, an all-in-one solution used by retailers to offer all digital payments to wallets by tap or scan without purchasing hardware. Through the partnership, shoppers can make payments via the Sensepass hub and platforms such as Venmo and Coinbase.
June 2022
PayPal Holdings, Inc. launched a monthly BNPL service in the U.S. to expand the checkout options for consumers. This allows consumers to purchase between USD 199 and 10,000 and split the cost into payments over a six-month to two-year period with PayPal Pay Monthly.
February 2022
OpenPay partnered with BigCommerce, Prestashop, and Paycove.io to expand and diversify its services. Moreover, this partnership enables longer, larger, and more customized plans, driving seamless integration with new merchants and customers at scale.
January 2022
Latitude announced the acquisition of Humm, a buy now pay later provider, for USD 241 million. Through this acquisition, the company wants to expand its BNPL services to a much higher number of people.
KEY BENEFITS
• The buy now pay later market report provides a quantitative analysis of the current market and estimations from 2023 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a comprehensive analysis of the buy now pay later market trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the buy now pay later market is provided in the report.
• The competitive analysis of the market players along with their market share in the buy now pay later market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.
- 1. Introduction
- 1.1. Report Description
- 1.2. Who Should Read This Report
- 1.3. Key Market Segments
- 1.4. Key Market Players
- 1.5. Research Methodology
- 1.5.1 Secondary Research
- 1.5.2 Data Analysis Framework
- 1.5.3 Market Size Estimation
- 1.5.4 Forecasting
- 1.5.5 Primary Research And Data Validation
- 2. Buy Now Pay Later Market – Executive Summary
- 2.1. Market Snapshot, 2022 - 2030, Million Usd
- 3. Market Overview
- 3.1. Market Definition And Scope
- 3.2. Market Dynamics
- 3.2.1 Drivers
- 3.2.1.1. Rising Trend Of Online Shopping Among Consumers
- 3.2.1.2. Easy And Affordable Payment Service Of Bnpl Platforms
- 3.2.1.3. Increase In E-commerce Platforms With Online Payment Methods
- 3.2.2 Restraints
- 3.2.2.1. Issue Related To High Late Fee Charges
- 3.2.2.2. Lack Of Awareness And Availability Of Multiple Bnpl Payment Options
- 3.2.3 Opportunities
- 3.2.3.1. Integration Of Artificial Intelligence (A.I.) Technology In Bnpl Platforms
- 3.2.3.2. Rising Consumer Preference For Online Payment Creates An Opportunity
- 4. Market Share Analysis
- 4.1. Market Share Analysis Of Top Bnpl Providers, 2022
- 5. Global Buy Now Pay Later Market, By Channel
- 5.1. Overview
- 5.2. Online
- 5.2.1 Online Market, By Region
- 5.3. Point Of Sale (Pos)
- 5.3.1 Point Of Sale (Pos) Market, By Region
- 6. Global Buy Now Pay Later Market, By Application
- 6.1. Overview
- 6.2. Consumer Electronics
- 6.2.1 Consumer Electronics Market, By Region
- 6.3. Fashion & Garment
- 6.3.1 Fashion & Garment Market, By Region
- 6.4. Media & Entertainment
- 6.4.1 Media & Entertainment Market, By Region
- 6.5. Healthcare & Wellness
- 6.5.1 Healthcare & Wellness Market, By Region
- 6.6. Automotive
- 6.6.1 Automotive Market, By Region
- 6.7. Furnishing
- 6.7.1 Furnishing Market, By Region
- 6.8. Others
- 6.8.1 Others Market, By Region
- 7. Global Buy Now Pay Later Market, By End User
- 7.1. Overview
- 7.2. Generation X
- 7.2.1 Generation X Market, By Region
- 7.3. Generation Z
- 7.3.1 Generation Z Market, By Region
- 7.4. Millennials
- 7.4.1 Millennials Market, By Region
- 7.5. Baby Boomers
- 7.5.1 Baby Boomers Market, By Region
- 8. Global Buy Now Pay Later Market, By Region
- 8.1. Overview
- 8.2. North America
- 8.2.1 North America Buy Now Pay Later Market, By Channel
- 8.2.2 North America Buy Now Pay Later Market, By Application
- 8.2.3 North America Buy Now Pay Later Market, By End User
- 8.2.4 North America Buy Now Pay Later Market, By Country
- 8.2.4.1. U.S.
- 8.2.4.1.1. U.S. Buy Now Pay Later Market, By Channel
- 8.2.4.1.2. U.S. Buy Now Pay Later Market, By Application
- 8.2.4.1.3. U.S. Buy Now Pay Later Market, By End User
- 8.2.4.2. Canada
- 8.2.4.2.1. Canada Buy Now Pay Later Market, By Channel
- 8.2.4.2.2. Canada Buy Now Pay Later Market, By Application
- 8.2.4.2.3. Canada Buy Now Pay Later Market, By End User
- 8.2.4.3. Mexico
- 8.2.4.3.1. Mexico Buy Now Pay Later Market, By Channel
- 8.2.4.3.2. Mexico Buy Now Pay Later Market, By Application
- 8.2.4.3.3. Mexico Buy Now Pay Later Market, By End User
- 8.3. Europe
- 8.3.1 Europe Buy Now Pay Later Market, By Channel
- 8.3.2 Europe Buy Now Pay Later Market, By Application
- 8.3.3 Europe Buy Now Pay Later Market, By End User
- 8.3.4 Europe Buy Now Pay Later Market, By Country
- 8.3.4.1. Uk
- 8.3.4.1.1. Uk Buy Now Pay Later Market, By Channel
- 8.3.4.1.2. Uk Buy Now Pay Later Market, By Application
- 8.3.4.1.3. Uk Buy Now Pay Later Market, By End User
- 8.3.4.2. Germany
- 8.3.4.2.1. Germany Buy Now Pay Later Market, By Channel
- 8.3.4.2.2. Germany Buy Now Pay Later Market, By Application
- 8.3.4.2.3. Germany Buy Now Pay Later Market, By End User
- 8.3.4.3. France
- 8.3.4.3.1. France Buy Now Pay Later Market, By Channel
- 8.3.4.3.2. France Buy Now Pay Later Market, By Application
- 8.3.4.3.3. France Buy Now Pay Later Market, By End User
- 8.3.4.4. Italy
- 8.3.4.4.1. Italy Buy Now Pay Later Market, By Channel
- 8.3.4.4.2. Italy Buy Now Pay Later Market, By Application
- 8.3.4.4.3. Italy Buy Now Pay Later Market, By End User
- 8.3.4.5. Spain
- 8.3.4.5.1. Spain Buy Now Pay Later Market, By Channel
- 8.3.4.5.2. Spain Buy Now Pay Later Market, By Application
- 8.3.4.5.3. Spain Buy Now Pay Later Market, By End User
- 8.3.4.6. Netherlands
- 8.3.4.6.1. Netherlands Buy Now Pay Later Market, By Channel
- 8.3.4.6.2. Netherlands Buy Now Pay Later Market, By Application
- 8.3.4.6.3. Netherlands Buy Now Pay Later Market, By End User
- 8.3.4.7. Denmark
- 8.3.4.7.1. Denmark Buy Now Pay Later Market, By Channel
- 8.3.4.7.2. Denmark Buy Now Pay Later Market, By Application
- 8.3.4.7.3. Denmark Buy Now Pay Later Market, By End User
- 8.3.4.8. Finland
- 8.3.4.8.1. Finland Buy Now Pay Later Market, By Channel
- 8.3.4.8.2. Finland Buy Now Pay Later Market, By Application
- 8.3.4.8.3. Finland Buy Now Pay Later Market, By End User
- 8.3.4.9. Norway
- 8.3.4.9.1. Norway Buy Now Pay Later Market, By Channel
- 8.3.4.9.2. Norway Buy Now Pay Later Market, By Application
- 8.3.4.9.3. Norway Buy Now Pay Later Market, By End User
- 8.3.4.10. Sweden
- 8.3.4.10.1. Sweden Buy Now Pay Later Market, By Channel
- 8.3.4.10.2. Sweden Buy Now Pay Later Market, By Application
- 8.3.4.10.3. Sweden Buy Now Pay Later Market, By End User
- 8.3.4.11. Russia
- 8.3.4.11.1. Russia Buy Now Pay Later Market, By Channel
- 8.3.4.11.2. Russia Buy Now Pay Later Market, By Application
- 8.3.4.11.3. Russia Buy Now Pay Later Market, By End User
- 8.3.4.12. Rest Of Europe
- 8.3.4.12.1. Rest Of Europe Buy Now Pay Later Market, By Channel
- 8.3.4.12.2. Rest Of Europe Buy Now Pay Later Market, By Application
- 8.3.4.12.3. Rest Of Europe Buy Now Pay Later Market, By End User
- 8.4. Asia-pacific
- 8.4.1 Asia-pacific Buy Now Pay Later Market, By Channel
- 8.4.2 Asia-pacific Buy Now Pay Later Market, By Application
- 8.4.3 Asia-pacific Buy Now Pay Later Market, By End User
- 8.4.4 Asia-pacific Buy Now Pay Later Market, By Country
- 8.4.4.1. China
- 8.4.4.1.1. China Buy Now Pay Later Market, By Channel
- 8.4.4.1.2. China Buy Now Pay Later Market, By Application
- 8.4.4.1.3. China Buy Now Pay Later Market, By End User
- 8.4.4.2. Japan
- 8.4.4.2.1. Japan Buy Now Pay Later Market, By Channel
- 8.4.4.2.2. Japan Buy Now Pay Later Market, By Application
- 8.4.4.2.3. Japan Buy Now Pay Later Market, By End User
- 8.4.4.3. India
- 8.4.4.3.1. India Buy Now Pay Later Market, By Channel
- 8.4.4.3.2. India Buy Now Pay Later Market, By Application
- 8.4.4.3.3. India Buy Now Pay Later Market, By End User
- 8.4.4.4. South Korea
- 8.4.4.4.1. South Korea Buy Now Pay Later Market, By Channel
- 8.4.4.4.2. South Korea Buy Now Pay Later Market, By Application
- 8.4.4.4.3. South Korea Buy Now Pay Later Market, By End User
- 8.4.4.5. Australia
- 8.4.4.5.1. Australia Buy Now Pay Later Market, By Channel
- 8.4.4.5.2. Australia Buy Now Pay Later Market, By Application
- 8.4.4.5.3. Australia Buy Now Pay Later Market, By End User
- 8.4.4.6. Indonesia
- 8.4.4.6.1. Indonesia Buy Now Pay Later Market, By Channel
- 8.4.4.6.2. Indonesia Buy Now Pay Later Market, By Application
- 8.4.4.6.3. Indonesia Buy Now Pay Later Market, By End User
- 8.4.4.7. Singapore
- 8.4.4.7.1. Singapore Buy Now Pay Later Market, By Channel
- 8.4.4.7.2. Singapore Buy Now Pay Later Market, By Application
- 8.4.4.7.3. Singapore Buy Now Pay Later Market, By End User
- 8.4.4.8. New Zealand
- 8.4.4.8.1. New Zealand Buy Now Pay Later Market, By Channel
- 8.4.4.8.2. New Zealand Buy Now Pay Later Market, By Application
- 8.4.4.8.3. New Zealand Buy Now Pay Later Market, By End User
- 8.4.4.9. Rest Of Asia-pacific
- 8.4.4.9.1. Rest Of Asia-pacific Buy Now Pay Later Market, By Channel
- 8.4.4.9.2. Rest Of Asia-pacific Buy Now Pay Later Market, By Application
- 8.4.4.9.3. Rest Of Asia-pacific Buy Now Pay Later Market, By End User
- 8.5. Rest Of World
- 8.5.1 Rest Of World Buy Now Pay Later Market, By Channel
- 8.5.2 Rest Of World Buy Now Pay Later Market, By Application
- 8.5.3 Rest Of World Buy Now Pay Later Market, By End User
- 8.5.4 Rest Of World Buy Now Pay Later Market, By Country
- 8.5.4.1. Latin America
- 8.5.4.1.1. Latin America Buy Now Pay Later Market, By Channel
- 8.5.4.1.2. Latin America Buy Now Pay Later Market, By Application
- 8.5.4.1.3. Latin America Buy Now Pay Later Market, By End User
- 8.5.4.2. Middle East
- 8.5.4.2.1. Middle East Buy Now Pay Later Market, By Channel
- 8.5.4.2.2. Middle East Buy Now Pay Later Market, By Application
- 8.5.4.2.3. Middle East Buy Now Pay Later Market, By End User
- 8.5.4.3. Africa
- 8.5.4.3.1. Africa Buy Now Pay Later Market, By Channel
- 8.5.4.3.2. Africa Buy Now Pay Later Market, By Application
- 8.5.4.3.3. Africa Buy Now Pay Later Market, By End User
- 9. Company Profiles
- 9.1. Affirm Holdings, Inc.
- 9.1.1 Company Overview
- 9.1.2 Company Snapshot
- 9.1.3 Operating Business Segments
- 9.1.4 Product Portfolio
- 9.1.5 Business Performance
- 9.1.6 Sales By Business Segment
- 9.1.7 Sales By Geographic Segment
- 9.1.8 Key Strategic Moves & Developments
- 9.1.9 Primary Market Competitors
- 9.2. Atome
- 9.2.1 Company Overview
- 9.2.2 Company Snapshot
- 9.2.3 Product Portfolio
- 9.2.4 Key Strategic Moves & Developments
- 9.2.5 Primary Market Competitors
- 9.3. Block, Inc.
- 9.3.1 Company Overview
- 9.3.2 Company Snapshot
- 9.3.3 Operating Business Segments
- 9.3.4 Product Portfolio
- 9.3.5 Business Performance
- 9.3.6 Sales By Business Segment
- 9.3.7 Sales By Geographic Segment
- 9.3.8 Key Strategic Moves & Developments
- 9.3.9 Primary Market Competitors
- 9.4. Klarna Bank Ab (Pulb)
- 9.4.1 Company Overview
- 9.4.2 Company Snapshot
- 9.4.3 Product Portfolio
- 9.4.4 Business Performance
- 9.4.5 Sales By Business Segment
- 9.4.6 Sales By Geographic Segment
- 9.4.7 Key Strategic Moves & Developments
- 9.4.8 Primary Market Competitors
- 9.5. Latitude
- 9.5.1 Company Overview
- 9.5.2 Company Snapshot
- 9.5.3 Product Portfolio
- 9.5.4 Business Performance
- 9.5.5 Sales By Business Segment
- 9.5.6 Key Strategic Moves & Developments
- 9.5.7 Primary Market Competitors
- 9.6. Openpay
- 9.6.1 Company Overview
- 9.6.2 Company Snapshot
- 9.6.3 Operating Business Segments
- 9.6.4 Product Portfolio
- 9.6.5 Business Performance
- 9.6.6 Sales By Business Segment
- 9.6.7 Sales By Geographic Segment
- 9.6.8 Key Strategic Moves & Developments
- 9.6.9 Primary Market Competitors
- 9.7. Paypal Holding Inc.
- 9.7.1 Company Overview
- 9.7.2 Company Snapshot
- 9.7.3 Operating Business Segments
- 9.7.4 Product Portfolio
- 9.7.5 Business Performance
- 9.7.6 Sales By Business Segment
- 9.7.7 Sales By Geographic Segment
- 9.7.8 Key Strategic Moves & Developments
- 9.7.9 Primary Market Competitors
- 9.8. Sezzle
- 9.8.1 Company Overview
- 9.8.2 Company Snapshot
- 9.8.3 Operating Business Segments
- 9.8.4 Product Portfolio
- 9.8.5 Business Performance
- 9.8.6 Sales By Business Segment
- 9.8.7 Key Strategic Moves & Developments
- 9.8.8 Primary Market Competitors
- 9.9. Scalapay
- 9.9.1 Company Overview
- 9.9.2 Company Snapshot
- 9.9.3 Product Portfolio
- 9.9.4 Key Strategic Moves & Developments
- 9.9.5 Primary Market Competitors
- 9.10. Zip Co., Ltd.
- 9.10.1 Company Overview
- 9.10.2 Company Snapshot
- 9.10.3 Operating Business Segments
- 9.10.4 Product Portfolio
- 9.10.5 Business Performance
- 9.10.6 Sales By Business Segment
- 9.10.7 Key Strategic Moves & Developments
- 9.10.8 Primary Market Competitors
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