Impact Analysis of Covid-19
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The Global Payment Security Market was valued at USD 9.85 billion in 2016 and is projected to reach USD 40.22 billion by 2025, growing at a CAGR of 16.92% from 2017 to 2025.
As security breaches continue to threaten retailers reputations, companies of all sizes are implementing modern payment technologies. These payment security solutions include - EMV, point-to-point encryption and tokenization, better protect consumers against fraud and stolen information. Payment security provides full access control, is transparent, updates in real-time, and performs multilevel checks.
1. Market Drivers
1.1 Growing Demand of Advanced Payment Security Solutions for Digital E-commerce
1.2 Rise in Payment Applications Usage across Different Industries
1.3 Growing Fraudulent Activities in E-commerce
1.4 Rising Need of Digital Payment Systems
2. Market Restraints
2.1 Security Concerns with Online Banking
2.2 Lack of Awareness of Online Payments
2.3 Costly Advanced Payment Security Solutions
The Global Payment Security Market is segmented on the basis of organization size, component, vertical, and region.
1. By Organization Size:
1.1 Large Enterprises
1.2 Small and Medium Enterprises
2. By Component:
2.1.1 Fraud detection and prevention
2.2.1 Consulting services
2.2.2 Integration services
2.2.3 Support services
3. By Vertical:
3.1 Travel and Hospitality
3.2 Retail and Customer Goods
3.3 Media and Entertainment
3.5 Telecom and IT
4. By Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa
The major players in the market are as follows:
2. Ingenico Epayments
5. Bluefin Payment Systems
6. Intelligent Payments
8. Geobridge Corporation
10. Shift4 Corporation
13. Sisa Information Security
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Payment Security Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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