Payment Security Market Expected to Reach $87.4 Billion by 2031

Payment Security Market Expected to Reach $87.4 Billion by 2031

Payment Security Market 2024-2031 Meticulous Research , a renowned global market research firm, has recently published a detailed report titled "Payment Security Market by Offering (Solutions, Services), Payment Mode (Banking Cards, Internet Banking, PoS, Digital Wallets, Others), Organization Size, End User (BFSI, Retail & E-commerce, Healthcare, Others) & Geography - Global Forecast to 2031." Download Free Sample Report: https://www.meticulousresearch.com/download-sample- report/cp_id=5237?utm_source=pdf&utm_medium=social&utm_campaign=product&u tm_content=05-07-2024 Market Overview: According to this latest publication, the global payment security market is projected to reach an impressive valuation of $87.4 billion by 2031, expanding at a robust CAGR of 17.3% from 2024 to 2031. The market's growth is fueled by the widespread adoption of digital payments, the critical need to comply with PCI DSS guidelines, and the surge in peer- to-peer payment transactions. Despite these positive drivers, a lack of trust in online banking may pose challenges to market growth. Key Growth Drivers and Challenges: The report highlights several key factors contributing to the market's expansion: Increased Payment Fraud: The rising incidence of payment fraud is prompting greater investments in security solutions. Mobile Wallets and Contactless Payments: The growing usage of mobile wallets and contactless payment systems offers significant growth opportunities. Technological Advancements: The integration of biometric authentication, AI, and blockchain technologies in payment security is emerging as a prominent trend. However, the market faces challenges such as low awareness of digital payments in rural areas, which could impede growth. Market Segmentation: The report provides a detailed segmentation of the payment security market, offering insights into various segments: By Offering: Solutions: Expected to dominate in 2024, accounting for over 74.0% of the market. Growth is driven by digital payment adoption across multiple industries and increased investments in cybersecurity. Services: Projected to grow significantly, driven by the need for ongoing support and maintenance of security solutions. By Payment Mode: Page 1 of 3 Meticulous Research| sales@meticulousresearch.com

Payment Security Market 2024-2031 Banking Cards: Anticipated to hold the largest share in 2024, with over 32.0%. Growth factors include the increasing adoption of PoS systems and the rise in card transactions. Digital Wallets: Expected to experience the highest CAGR, driven by the adoption of multi-factor authentication and QR code-based payments. Browse in Depth: https://www.meticulousresearch.com/product/payment-security- market- 5237?utm_source=pdf&utm_medium=social&utm_campaign=product&utm_content= 05-07-2024 By Organization Size: Large Enterprises: Predicted to account for over 70.0% of the market in 2024, driven by the need to protect customer data and manage high transaction volumes. Small and Medium-Sized Enterprises (SMEs): Also expected to see substantial growth, particularly in adopting cost-effective security solutions. By End-User Industry: BFSI: Projected to hold the largest market share in 2024, driven by the increasing data breaches and the adoption of payment security solutions. Retail & E-commerce: Anticipated to register the highest CAGR, fueled by the rise in e-commerce transactions and the growth of contactless payments. Geographic Insights North America: Expected to lead the market in 2024, accounting for over 36.0% of the global market. Factors driving growth include increased digital payment adoption and higher cybersecurity investments. Asia-Pacific: Forecasted to witness the highest CAGR of 18.9%, driven by the adoption of advanced payment technologies and the growth of mobile payments. Key Players: The report profiles key players in the payment security market, including: Bluefin Payment Systems LLC (U.S.) Braintree (U.S.) Elavon Inc. (U.S.) TokenEx, Inc. (U.S.) Shift4 Payments, Inc. (U.S.) Cybersource (U.S.) Ingenico (France) Broadcom Inc. (U.S.) Signifyd, Inc. (U.S.) Page 2 of 3 Meticulous Research| sales@meticulousresearch.com

Payment Security Market 2024-2031 TNS Inc. (U.S.) Stripe, Inc. (U.S.) Mastercard Incorporated (U.S.) VeriFone, Inc. (U.S.) Utimaco Management Services GmbH (Germany) SISA Information Security Pvt. Ltd. (India) Conclusion: Meticulous Research 's comprehensive report underscores the significant growth potential of the payment security market, driven by technological advancements and increasing demands for secure, efficient payment processes. With North America leading the market and Asia-Pacific emerging as a high-growth region, stakeholders are well-positioned to capitalize on these opportunities. Buy Now: https://www.meticulousresearch.com/Checkout/30768240?utm_source=pdf&utm_med ium=social&utm_campaign=product&utm_content=05-07-2024 About Meticulous Research Meticulous Research was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Contact Us: Meticulous Research Email- sales@meticulousresearch.com Contact Sales- +1-646-781-8004 Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research Page 3 of 3 Meticulous Research| sales@meticulousresearch.com