Global Payment Analytics Software Market Estimated to Reach $4,844.1 Million by 2030 and Grow at 4.6% CAGR in the 2022-2030 Timeframe [230-Pages] | Research Dive
The global payment analytics software market expected to grow by 2030 due to growing usage of smartphones. Cloud based sub-segment is expected to be highly profitable. Market in the Europe region is expected to be highly lucrative.
NEW YORK, July 7, 2022 /PRNewswire/ -- Research Dive has added a new report to its offering titled, "Payment Analytics Software Market by Type (Cloud Based and Web Based), Enterprise Size (Large Enterprise and Small & Medium Enterprise), and Regional Analysis (North America, Europe, Asia-Pacific, and LAMEA): Global Opportunity Analysis and Industry Forecast, 2022–2030".
According to the report, the global payment analytics software market is expected to gather a revenue of $4,844.1 million by 2030, growing at a CAGR of 4.6% during the 2022-2030 timeframe.
Dynamics of the Payment Analytics Software Market:
Drivers: Growing usage of smartphones due to widespread availability of 3G and 4G connectivity is predicted to become the main growth factor of the payment analytics software market in the forecast period. Moreover, integration of advanced technologies like machine learning, big data, etc. is expected to push the market further.
Opportunities: Growing demand for specialized and secure payment processing methods is expected to offer huge growth opportunities to the market in the analysis timeframe. Additionally, the rise of cloud-based analytics is projected to offer immense investment opportunities to the market.
Restraints: Data privacy issues associated with payment softwares, may hamper the growth trajectory of the payment analytics software market.
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Covid-19 Impact on the Payment Analytics Software Market:
The Covid-19 pandemic has had a negative impact on several business and industries. The main reason behind this is the lockdowns which were imposed in various countries. However, the payment analytics software market has been an exception. In fact, this market witnessed substantial growth in the pandemic period due to an increase in online sales and payments across the globe. The pandemic also triggered the adoption of card payment and mobile wallet payments which further helped the market to grow.
Segments of the Payment Analytics Software Market:
The report has divided the payment analytics software market into a few segments based on type, enterprise size, and regional analysis.
- By type, the cloud based sub-segment of the payment analytics software market is estimated to have a dominating share and garner $2,307.4 million by 2030. Increasing adoption of cloud technology for integration of banking services and mobile applications like Digital Wallets, Apple Wallets, etc. is predicted to become the primary growth driver of this sub-segment.
- By enterprise size, the large enterprise sub-segment is expected to have a dominating share and register $2,734.7 million by 2030. Over the last few years, many large enterprises have adopted digital payment solutions to automate their billing landscape, simplify company's operations, and cater to varying consumer patterns. This is anticipated to help the sub-segment grow in the forecast period.
- By regional analysis, the payment analytics software market in the Europe region is predicted to be the fastest growing sub-segment and garner a revenue of $1,388.3 million by 2030. Rising penetration of smartphone devices and significant growth in the m-commerce industry are predicted to become the two leading growth contributors of the market in this region.
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Significant Payment Analytics Software Market Players:
Some prominent market players of the payment analytics software market are
1. ProfitWell
2. Yapstone
3. PaySketch
4. BlueSnap
5. CashNotify
6. Revealytics
7. Databox
8. HiPay Intelligence
9. RJMetrics
10. Payfirma, among others.
These players are developing various business strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to gain a commanding position in the market. – Inquire here before buying full report of Payment Analytics Software Market
For example, in February 2021, TSG, a global provider of business management software and integrated payments, announced the acquisition of Adaptive Analytics LLC., a leading data analytics and visualization tools provider. This acquisition is expected to hugely benefit TSG as it will enhance its capabilities to address the demands of a larger customer base which will eventually help the company to increase its market share.
The report also offers various crucial facets including SWOT analysis, product portfolio, financial performance of the key market players, and the latest strategic developments.
More about Payment Analytics Software Market:
- Product Launches and Strategic Partnerships by Market Players such as BKD Analytics and ACI Worldwide to Drive the Payment Analytics Software Market Growth
- The Need for Payment Analytics Software in Today's Digital Era
Some Related Trending Article Links:
- The global payment gateway market is estimated to be valued at $98,198.70 million by 2030, at a noteworthy CAGR of 17.7%.
- The global mobile wallet market size is predicted to garner a revenue of $46,006.0 million in the 2021–2028 timeframe, at a healthy CAGR of 18.9%.
- Payment processing solutions market is predicted to grow at a CAGR of 12.6% in the forecast period by generating a revenue of $176,749.5 million by 2027.
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