eCommerce Payments Global Strategic Business Report 2024: Market to Reach $612.1 Billion by 2030 as the World Moves to a Cashless Society - ResearchAndMarkets.com

The "eCommerce Payments - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

Global eCommerce Payments Market to Reach $612.1 Billion by 2030

The global market for eCommerce Payments estimated at US$243.9 Billion in the year 2023, is projected to reach a revised size of US$612.1 Billion by 2030, growing at a CAGR of 12.2% over the analysis period 2023-2030.

The e-commerce payment market is experiencing significant changes worldwide, with a competitive landscape marked by strong, active, niche, and trivial players as of 2022. In 2019, the market share scenario highlighted key competitors, with projections indicating shifts by 2025. The global economy supports robust growth in e-commerce, driven by the on-demand economy and a move towards a cashless society, which underscores the importance of electronic payments.

Cards, one of the segments analyzed in the report, is expected to record 12.9% CAGR and reach US$274.7 Billion by the end of the analysis period. Growth in the Digital Payment / E-Wallet segment is estimated at 13.6% CAGR for the next 8-year period.

Non-cash transactions are increasing globally, presenting substantial opportunities for the e-commerce payments market. The rapid internet penetration and smartphone ownership are major factors driving the preference for online payments. With over 38% of the global population using smartphones, the rise of online shopping and mobile payment apps is well-supported.

The U.S. Market is Estimated at $65.5 Billion, While China is Forecast to Grow at 18.6% CAGR

The eCommerce Payments market in the U.S. is estimated at US$65.5 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$169 Billion by the year 2030, trailing a CAGR of 18.6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 9.9% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 9% CAGR.

Key Attributes:

MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• E-commerce Payment - Global Key Competitors Percentage Market Share in 2022 (E)
• E-commerce Payment Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
• Global Economic Update
• Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
• E-commerce Payment: A Prelude
• Review of Major E-commerce Payment Platforms

MARKET TRENDS & DRIVERS

• Robust Outlook for e-Commerce Provides the Foundation for Growth in the Market
• Robust Growth of E-Commerce Supported by the On-Demand Economy to Amplify the Importance of Electronic Payment Options
• As the World Moves to a Cashless Society, e-Commerce Payments Stands at the Verge of Irrevocable Change
• As Global Non-Cash Transactions Spirals, Ecommerce Payments Market is Poised for Heady Opportunities Ahead
• Rapid Penetration of Internet & Growing Ownership of Smartphones Drive the Preference for Online Payments
• Growing Base of Internet Users Worldwide as Evidenced by Growing Penetration Rates Provides the Platform for the Rise of Online Shopping & Electronic Payments
• Expanding Base of Smartphone Users to Over 38% of the Global Population Bodes Well for Online Shopping & Adoption of Mobile Payments Apps: Global Number of Smartphone Users for the Years 2016 through 2020
• Financial Inclusion & Reduction in the Number of Unbanked People Bodes Well for the Adoption of Online Payment Options
• Growing Global Efforts for Financial Inclusion to Catapult the Popularity and Importance of Digital Payment Platforms: Global Account Ownership by Gender (In %) Breakdown by High Income & Low and Middle Income Economies for the Years 2013, 2015 and 2019
• Development of Safe & Secure Payment Gateways Catalyzes the Confidence in Online Payments
• Blockchain Payments Emerges as a Technology that Knows No Boundaries, Redefining eCommerce & Driving Cross-Border eCommerce
• Spectacular Growth of Blockchain Technology & Its Promising Use in the Field of Digital Currency & Payments to Revolutionize eCommerce: Global Market for Blockchain (In US$ Billion) for the Years 2018, 2020, 2022 and 2024
• Rise of Cryptocurrencies as a Payment Platform for Online Transactions, A Key Trend in the Market
• Growing Awareness of Cryptocurrencies Among Global Internet Users & Rising Ownership Rates Bodes Well for their Rise as Effective Platforms for eCommerce Payments: Ownership of Cryptocurrency (As % of Total Population) by Country for the Year 2019
• Mobile Biometrics Emerges to Add an Additional Layer of Payment Safety with Multiplier Impact on Adoption Rates
• Astounding Penetration of Biometrics for Mobile Devices to Push Up the Volume of Online Financial Transactions: Global % Share of Mobile Devices That Utilize Biometrics for Online Transactions for the Years 2017, 2019, 2021 and 2023
• Global % Share of Type of Devices Sold With Biometrics Technology for the Years 2017, 2019 & 2021
• Innovations in FinTech & Rise of Mobile Commerce Drive the Popularity of Digital Wallets & Mobile Payment Apps
• As the Future of eCommerce Becomes Mobile, Mobile Wallet Emerges an Important eCommerce Payment Platform: Adoption of Mobile Wallet (In %) by Region/Country for the Year 2019
• Robust Mobile Commerce Market to Benefit the Growth of Mobile Wallets: Global Mobile Commerce Market (In US$ Billion) for the Years 2016 to 2020
• Well Developed & Continuously Evolving Ecosystem of Mobile Payment Apps, a Key Growth Driver
• Growing Number of App Users Mirror the Well Developed Mobile Payment App Ecosystem their Growing Reach & Visibility Among Consumers: Global Number of Users (In Million) Breakdown by Leading Mobile Payment Platform for the Year 2018
• Supported by Myriad Benefits, Electronic Funds Transfer Grows in Prominence

FOCUS ON SELECT PLAYERS (Total 29 Featured)

• Alibaba Group Holding Ltd.
• Alipay
• Amazon Payments, Inc.
• Amazon.com Inc.
• American Express Company
• Apple Inc.
• Capital One Financial Corp.
• CCBill, LLC
• MasterCard Incorporated
• PayPal Holdings, Inc.
• Stripe Inc.
• The OLB Group Inc.
• UnionPay International Co., Ltd.
• Visa, Inc.
• WePay Inc.

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