Real-Time Payments Market to grow at a CAGR of 31.35% from 2022 to 2027: Increasing adoption of smartphones and access to high-speed internet to be a major driver to the market growth - Technavio

NEW YORK, March 10, 2023 /PRNewswire/ -- The global real-time payments market size is estimated to increase by USD 55,539.13 million from 2022 to 2027. The market's growth momentum will progress at a CAGR of 31.35%. The increasing adoption of smartphones and access to high-speed internet is notably shaping the market growth. Smartphone usage has drastically increased in countries like Canada, China, and India in recent years. And the widespread 3G and 4G connectivity have enabled a simpler way of payments for customers. As the 5G network becomes popular in regions like North America, APAC, Europe, and the Middle East, the market is expected to grow during the forecast period.

For more insights on the historic market data (2017 to 2021), and forecast market size (2022 to 2027) - Request a sample report

Real-time payments market – Vendor Analysis
Vendor Landscape - The global real-time payments market is fragmented with the presence of several global as well as regional vendors. A few prominent vendors that offer real-time payments in the market are ACE Software Solutions Inc., ACI Worldwide Inc., Ant Technology Group Co. Ltd., Apple Inc., Cognizant Technology Solutions Corp., Fidelity National Information Services Inc., Finastra, Fiserv Inc., Icon Solutions Ltd., Mastercard Inc., Microsoft Corp., Mindgate Solutions Pvt. Ltd., Montran Corp., PayPal Holdings Inc., Ripple Labs Inc., Sila Inc., Tata Consultancy Services Ltd., Temenos Headquarters SA, Visa Inc., and Volante Technologies Inc. and others.

What's New? -

• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Vendor Offerings -

• ACI Worldwide Inc. - The company offers real-time payment processing services which are used widely in business-to-business segments such as supplier payment and refund adjustment.
• Ant Technology Group Co. Ltd. - The company offers real-time payment services which are designed to do quick pay, barcode payment, smile to pay, and QR code payment solutions to meet transaction requirements in different commercial use.
• Apple Inc. - The company offers real-time payment services which provide easier, safer, and secure money transactions to various merchants.
• For details on the vendor and its offerings – Request a sample report

Real-Time Payments Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on components (solutions and services), deployment (on-premises and cloud), and geography (APAC, North America, Europe, South America, and Middle East and Africa). 

• The market share growth of the solutions segment is significant during the forecast period. These solutions process transactions between the customer/merchant and the bank/processors in real-time. This is a very safe and secure mode of payment. The cheaper cost of internet services has accelerated digital and technological adoption in several sectors. This has altered business models for various sectors including logistics, banking, education, retail, and healthcare among others. This has led to a drastic increase in digital payments across different sectors.

Geography Overview
By geography, the global real-time payments market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global real-time payments market.

• APAC is estimated to contribute to 44% of the growth of the global real-time payments market during the forecast period. Mobile wallets like Apple Pay and Samsung Pay are growing in popularity in the region resulting in APAC being the fastest-growing region in the real-time payments market. Furthermore, the pandemic promoted real-time payment options including NFC and quick response (QR) codes. Major factors that accelerate the regional market growth include the convenience offered by real-time payments, such as quick service and check-out time at cafes, drive-throughs, and casual dining restaurants. Therefore, the regional market in APAC is expected to grow during the forecast period.

Insights on the market contribution of various segments including country and region wise, historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Real-Time Payments Market – Market Dynamics
Key Trends - 

• Rapid digitalization in the payments sector is a leading trend in the market. Digital currencies, biometrics, and real-time payments became popular and widely accepted in the post-pandemic society.
• This is done so as an effort to reduce the demand for cash. Dynamic real-time payment credit has also enabled retailers to scan customer codes, where fraud can be detected immediately. 
• Consequentially, the global real-time payments industry witnesses growth due to the growing developments and efforts towards digitalized payments.

Major challenges - 

• The rising issues of data breaches and security while conducting payments are a primary challenge impeding market growth. 
• Consumers are reluctant to use real-time payment networks to carry out their transactions because they are worried that unauthorized mobile service providers may have access to their financial information.
• Moreover, as a result of increased use of public Wi-Fi, weak passwords, and phishing attacks, there is an anticipation of an increase in identity theft and data breaches in the coming years.

Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021) and forecast period (2023 to 2027) - Request a Sample Report!

What are the key data covered in this Real Time Payments Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the real-time payments market between 2023 and 2027
• Precise estimation of the size of the real-time payments market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the real-time payments industry across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of vendors in the real-time payments market

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Component
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Deployment
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global real time payments market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global real time payments market 2017 - 2021 ($ million)

• 4.2 Component Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Component Segment 2017 - 2021 ($ million)

• 4.3 Deployment Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Deployment Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Component

• 6.1 Market segments
• Exhibit 30: Chart on Component - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Component - Market share 2022-2027 (%)

• 6.2 Comparison by Component 
• Exhibit 32: Chart on Comparison by Component
• Exhibit 33: Data Table on Comparison by Component

• 6.3 Solutions - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Solutions - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Solutions - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Solutions - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Solutions - Year-over-year growth 2022-2027 (%)

• 6.4 Services - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Services - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Services - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Services - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Component 
• Exhibit 42: Market opportunity by Component ($ million)

7 Market Segmentation by Deployment

• 7.1 Market segments
• Exhibit 43: Chart on Deployment - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Deployment - Market share 2022-2027 (%)

• 7.2 Comparison by Deployment 
• Exhibit 45: Chart on Comparison by Deployment
• Exhibit 46: Data Table on Comparison by Deployment

• 7.3 On-premises - Market size and forecast 2022-2027 
• Exhibit 47: Chart on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on On-premises - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on On-premises - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on On-premises - Year-over-year growth 2022-2027 (%)

• 7.4 Cloud - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Cloud - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Cloud - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Cloud - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Deployment 
• Exhibit 55: Market opportunity by Deployment ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 57: Chart on Market share by geography 2022-2027 (%)
• Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 59: Chart on Geographic comparison
• Exhibit 60: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 65: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 67: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 68: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 69: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 73: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 77: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Thailand - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Thailand - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Thailand - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Thailand - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Thailand - Year-over-year growth 2022-2027 (%)

• 9.10 Singapore - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Singapore - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Singapore - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Singapore - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Singapore - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027 
• Exhibit 93: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Canada - Market size and forecast 2022-2027 
• Exhibit 97: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 101: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 102: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 104: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 105: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 106: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 107: Matrix on vendor position and classification

• 12.3 ACI Worldwide Inc.
• Exhibit 108: ACI Worldwide Inc. - Overview
• Exhibit 109: ACI Worldwide Inc. - Business segments
• Exhibit 110: ACI Worldwide Inc. - Key offerings
• Exhibit 111: ACI Worldwide Inc. - Segment focus

• 12.4 Ant Technology Group Co. Ltd. 
• Exhibit 112: Ant Technology Group Co. Ltd. - Overview
• Exhibit 113: Ant Technology Group Co. Ltd. - Product / Service
• Exhibit 114: Ant Technology Group Co. Ltd. - Key offerings

• 12.5 Apple Inc.
• Exhibit 115: Apple Inc. - Overview
• Exhibit 116: Apple Inc. - Business segments
• Exhibit 117: Apple Inc. - Key news
• Exhibit 118: Apple Inc. - Key offerings
• Exhibit 119: Apple Inc. - Segment focus

• 12.6 Fidelity National Information Services Inc. 
• Exhibit 120: Fidelity National Information Services Inc. - Overview
• Exhibit 121: Fidelity National Information Services Inc. - Business segments
• Exhibit 122: Fidelity National Information Services Inc. - Key news
• Exhibit 123: Fidelity National Information Services Inc. - Key offerings
• Exhibit 124: Fidelity National Information Services Inc. - Segment focus

• 12.7 Finastra
• Exhibit 125: Finastra - Overview
• Exhibit 126: Finastra - Product / Service
• Exhibit 127: Finastra - Key offerings

• 12.8 Fiserv Inc.
• Exhibit 128: Fiserv Inc. - Overview
• Exhibit 129: Fiserv Inc. - Business segments
• Exhibit 130: Fiserv Inc. - Key offerings
• Exhibit 131: Fiserv Inc. - Segment focus

• 12.9 Mastercard Inc.
• Exhibit 132: Mastercard Inc. - Overview
• Exhibit 133: Mastercard Inc. - Product / Service
• Exhibit 134: Mastercard Inc. - Key offerings

• 12.10 Microsoft Corp.
• Exhibit 135: Microsoft Corp. - Overview
• Exhibit 136: Microsoft Corp. - Business segments
• Exhibit 137: Microsoft Corp. - Key news
• Exhibit 138: Microsoft Corp. - Key offerings
• Exhibit 139: Microsoft Corp. - Segment focus

• 12.11 Mindgate Solutions Pvt. Ltd. 
• Exhibit 140: Mindgate Solutions Pvt. Ltd. - Overview
• Exhibit 141: Mindgate Solutions Pvt. Ltd. - Product / Service
• Exhibit 142: Mindgate Solutions Pvt. Ltd. - Key offerings

• 12.12 Montran Corp.
• Exhibit 143: Montran Corp. - Overview
• Exhibit 144: Montran Corp. - Product / Service
• Exhibit 145: Montran Corp. - Key offerings

• 12.13 PayPal Holdings Inc.
• Exhibit 146: PayPal Holdings Inc. - Overview
• Exhibit 147: PayPal Holdings Inc. - Product / Service
• Exhibit 148: PayPal Holdings Inc. - Key offerings

• 12.14 Tata Consultancy Services Ltd. 
• Exhibit 149: Tata Consultancy Services Ltd. - Overview
• Exhibit 150: Tata Consultancy Services Ltd. - Business segments
• Exhibit 151: Tata Consultancy Services Ltd. - Key news
• Exhibit 152: Tata Consultancy Services Ltd. - Key offerings
• Exhibit 153: Tata Consultancy Services Ltd. - Segment focus

• 12.15 Temenos Headquarters SA 
• Exhibit 154: Temenos Headquarters SA - Overview
• Exhibit 155: Temenos Headquarters SA - Business segments
• Exhibit 156: Temenos Headquarters SA - Key news
• Exhibit 157: Temenos Headquarters SA - Key offerings
• Exhibit 158: Temenos Headquarters SA - Segment focus

• 12.16 Visa Inc.
• Exhibit 159: Visa Inc. - Overview
• Exhibit 160: Visa Inc. - Product / Service
• Exhibit 161: Visa Inc. - Key offerings

• 12.17 Volante Technologies Inc. 
• Exhibit 162: Volante Technologies Inc. - Overview
• Exhibit 163: Volante Technologies Inc. - Product / Service
• Exhibit 164: Volante Technologies Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 165: Inclusions checklist
• Exhibit 166: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 167: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 168: Research methodology
• Exhibit 169: Validation techniques employed for market sizing
• Exhibit 170: Information sources

• 13.5 List of abbreviations 
• Exhibit 171: List of abbreviations

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
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UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio

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