Payment Analytics Software Market is expected to reach a valuation of nearly US$ 5.2 Bn by 2032 - Future Market Insights, Inc.

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Aug 12, 2022, 08:45 ET

On-Premise Payment Analytics software is driving Market demand, having witnessed a CAGR of 5.0% with a forecasted CAGR of 4.8%. The US payment analytics market accounts for more than 34% of the global market. Europe Payment Analytics Software Market size of US $ 1.3 Bn by 2032

NEWARK, Del., Aug. 12, 2022 /PRNewswire/ -- Global Payment Analytics Software Market was valued at US$ 3.1 Bn in 2021 and is expected to reach US$ 5.2 Bn by 2032, finds Future Market Insights (FMI) in a recent market survey. Payment Analytics Software can help automate the essential process of the generation of insights based on data. These insights are being used for multiple applications, such as to understand the effects of products or campaigns, to prevent or understand payment fraud, to improve customer relationships, to analyze opportunities, and ultimately to optimize the use of their resources.

Companies turning to Payment analytics to help with fraud monitoring

Companies are turning to payment analytics to mitigate the increasing levels of payment fraud and the resultant loss of trust and legal complications. Through payment analytics, they can identify suspicious or abnormal activity and deploy interventions as and when required. They can also understand which types of transactions are high risk and what adaptations to their existing offerings might be necessary to prevent fraud in the future as well.

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Use in the Banking sector to drive demand in the analysis period

Payment analytics' application in the banking sector is a key driver of its demand. Since banks deal with massive amounts of payment-related data, they require sophisticated automation to gain any insights into their systems. The insights gained can be used in several areas, such as to understand which service offerings are performing well and in which areas or to understand which transactions are at high risk of errors or fraud.

This can help the efficient deployment of support teams to meet these concerns. Understanding trend patterns will allow banks to understand what services they might continue and discontinue or even what new services they should introduce in the future. Analytics software can also be used to categorize customers into more nuanced risk categories and the assignment of agents can be done more optimally.

"Payment Analytics Software providers are closely working on increasing both the insights afforded by their software as well as on increasing the capacity of their software to allow for the processing of higher volumes of data." comments an analyst at Future Market Insights.

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Payment Analytics Software Market: Competition Insights

At present, Payment Analytics Software providers are focused on developments that will make it cheaper to handle larger amounts of data, as well as on the more insightful analysis of collected data. The key companies operating include Profitwell, BlueSnap, CashNotify, Databox, HiPay Intelligence, IXOPAY, MRR.io, Payfirma, PaySketch, RJMetrics, and Yapstone among others.

Some of the recent developments in Payment Analytics Software are as follows:

In February 2021, TSG announced the acquisition of Adaptive Analytics LLC, a 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.
In February 2020, French payment service provider, World line announced its intention to take over its competitor Ingenico, for EUR 7.8 Bn.
In November 2021, ACI ACI Worldwide announced the launching of a new feature, Omni-Commerce Payment Analytics, which is a visually rich dashboard for Payment Analytics with multiple features such as fraud management, behavioral analysis, and others.

Similarly, recent developments related to companies manufacturing Payment Analytics Software have been tracked by the team at Future Market Insights, which is available in the full report.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Payment Analytics Software Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in the Payment Analytics Software Market in terms of Product (Cloud-based, On-Premise), Application (Large companies, Small and Medium Companies), across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).

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Key Segments Covered In Payment Analytics Software Industry Survey

Payment Analytics Market by Type:

Cloud-Based Payment Analytics Software
On-Premise Payment Analytics Software

Payment Analytics Software Market by Application:

Large Companies
Small and Medium Companies

Payment Analytics Software Market by Region:

North America Payment Analytics Software Market
Europe Payment Analytics Software Market
Asia Pacific Payment Analytics Software Market
Middle East & Africa Payment Analytics Software Market
Latin America Payment Analytics Software Market

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Table of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Summary of Statistics

1.3. Key Market Characteristics & Attributes

1.4. FMI Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Market Risks and Trends Assessment

3.1. Risk Assessment

3.1.1. COVID-19 Crisis and Impact on Payment Analytics Software Demand

3.1.2. COVID-19 Impact Benchmark with Previous Crisis

3.1.3. Impact on Market Value (US$ Mn)

3.1.4. Assessment by Key Countries

3.1.5. Assessment by Key Market Segments

3.1.6. Action Points and Recommendation for Suppliers

3.2. Key Trends Impacting the Market

3.3. Formulation and Application Development Trends

4. Market Background and Foundation Data Points

4.1. Global Payment Analytics Software Market (US$ Mn)

4.2. Payment Analytics Software Market Opportunity Assessment (US$ Mn)

4.2.1. Total Available Market

4.2.2. Serviceable Addressable Market

4.2.3. Serviceable Obtainable Market

4.3. Market Scenario Forecast

4.3.1. Demand in optimistic Scenario

4.3.2. Demand in Likely Scenario

4.3.3. Demand in Conservative Scenario

4.4. Investment Feasibility Analysis

4.4.1. Investment in Established Markets

4.4.1.1. In Short Term

4.4.1.2. In Long Term

4.4.2. Investment in Emerging Markets

4.4.2.1. In Short Term

4.4.2.2. In Long Term

5. Key Success Factors

5.1. Manufacturers' Focus on Low Penetration High Growth Markets

5.2. Banking on with Segments High Incremental Opportunity

5.3. Peer Benchmarking

TOC continued..!

Have a Look at Related Research Reports of Technology Domain

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Mobile Payment Technologies Market Outlook: is projected to record more than 20% growth rate during the forecast period and expected to reach US$ 80 Bn by 2031.

Payment Processing Solutions Market Forecast: is expected to reach US$ 90.4 Billion in 2022, from US$ 82 Billion in 2021. From 2022 to 2032, the market is expected to secure US$ 231.7 Billion while exhibiting a growth rate of 9.9% during the forecast period.

Instant Payments Market Share: is expected to strengthen its hold in the global market at a strong CAGR of 18.1% between 2022 and 2032.

Contactless Payment Market Type: Its takes almost one-tenth of the time taken by the traditional electronic transaction making it more hassle-free for the customers and secure payment transactions are done using technologies such as bluetooth, infrared, radio frequency identification (RFID), and near field communication (NFC).

Smart Home Payments Market Demand: With a projected CAGR of 20.5% for the next ten years, the market is likely to reach a valuation of nearly US$ 318.2 Bn by the end of 2032

ePayment System Market Analysis: revenue totaled ~US$ 77.8 Bn in 2020, according to Future Market Insights (FMI). The overall market is expected to reach ~US$ 456.6 Bn by 2031, growing at a CAGR of around 17.7% for 2021 – 31

Outdoor Payment Terminal Market Technology: was valued at around US$ 1.5 Billion in 2022. Over the projection period, outdoor payment terminal sales are expected to grow at a high CAGR of 10.3%, reaching a worth of US$ 4 Billion by 2032.

Mobile Payment Data Protection Market Growth: is estimated to develop at a CAGR of 12.3% from 2022 to 2032. The global mobile payment data protection market was valued at US$ 603.9 billion in 2022.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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