Buy Now Pay Later Market Size - By Channel, By Enterprise Size, By End User - Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Buy Now Pay Later Market Size - By Channel, By Enterprise Size, By End User - Regional Outlook, Competitive Strategies and Segment Forecasts to 2032

Global Buy Now Pay Later Market Overview:

According to SPER Market Research, the Global Buy Now Pay Later Market is estimated to reach USD 51.83 billion by 2032 with a CAGR of 26.32%.

Global Buy Now Pay Later is a type of short-term loan that allows you to buy household items, electronics, clothing, and other everyday items. It is a point-of-sale (POS) instalment payment mechanism that allows customers to purchase things and manage repayments. Individuals are benefiting from payment methods to buy now and pay later in a number of ways, including more affordable and convenient payment services, faster credit card transactions on retail platforms, and greater security of personal information., all of which contribute to growth. market. Additionally, the platform includes a QR code option that allows customers to pay with scannable codes and complete transactions via UPI, all contributing to the growth of the market. In addition, the Buy Now Pay Later platform allows customers to make secure payments without debit cards, facilitating global market expansion.

Impact of COVID-19 on the Global Buy Now Pay Later Market

Other significant reasons boosting the market growth include the expanding number of internet users, more access to online services, and the increased deployment of e-prescriptions in healthcare services in the aftermath of the COVID-19 epidemic. During COVID-19 CVS Health began implementing new strategies to balance the demand for medications used throughout the treatment of both COVID-19 and other chronic conditions. Also, Amazon started an online pharmacy service in the United States for both generic and prescription pharmaceuticals. Before COVID-19, majority of families were chronic-first consumers of Buy Now Pay Later Market because they saw superior value in these affordable and convenient services. Nevertheless, as buy now pay later market proved the need of the hour during the lockdown period, an identical amount of chronic-first and acute-first families were onboarded. Furthermore, the rising demand for over-the-counter (OTC) items such as masks, sanitizers, thermometers, and steamers, among others, is supporting the expansion of the buy now pay later market. As a result, the rapid use of OTC products will benefit the buy now pay later market sector.

Scope of the Report:

Market size available for years 2019-2032
Base year considered 2021
Forecast period 2022-2032

Segments covered By Channel, By Enterprise Size, By End User

Regions covered North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Companies Covered Affirm Holdings Inc., Afterpay, Klarna Bank AB, Laybuy Group Holdings Limited, PayPal Holdings Inc., Payl8r (Social Money Ltd.), Perpay, Quadpay, Sezzle, Splitit

Global Buy Now Pay Later Market Segmentation:

By Channel: Based on the Channel, Global Buy Now Pay Later Market is segmented as; Online, Point of Sale.

By Enterprise Size: Based on the Enterprise Size, Global Buy Now Pay Later Market is segmented as; Large Enterprises, Small & Medium Enterprises.

By End User: Based on the End User, Global Buy Now Pay Later Market is segmented as; Consumer Electronics, Fashion & Garment, Leisure Entertainment, Retail.

By Region: Due to rising prices for numerous household appliances, including music systems, smart TVs, and washing machines, Asia-Pacific is predicted to have considerable growth throughout the projection period. In addition, the growing demand for buy now pay later platforms among young people in Asia-emerging Pacific’s countries to acquire expensive electronic products like laptops, smartphones, and mobile tablets is fuelling the market's expansion in the region over the future years.