Payment Security Market Size, Trends, Share, Growth | Report 2023-2032
The global payment security market was valued at USD 23.15 billion in 2022 and it is predicted to surpass around USD 85.15 billion by 2032 with a CAGR of 13.91% from 2023 to 2032.
Key Pointers
Report Scope of the Payment Security Market
| Report Coverage | Details |
| Market Size in 2022 | USD 23.15 billion |
| Revenue Forecast by 2032 | USD 85.15 billion |
| Growth rate from 2023 to 2032 | CAGR of 13.91% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Market Analysis (Terms Used) | Value (US$ Million/Billion) or (Volume/Units) |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | Elavon Inc.; Ingenico; Ultimaco Management Gmbh; Shift4 Payment Inc.; Mastercard; Intelligent Payment Solutions Pvt Ltd.; TokenEx, LLC; Paypal Holdings, Inc.; Bluefin Payment Systems; Visa Inc. |
The growth is driven by the need to protect consumer data, comply with regulations, and keep up with the evolving threat landscape. With advancements in technology, cybercriminals are becoming more sophisticated in their attacks. This has driven the development of new and more advanced payment security solutions to keep up with the evolving threat landscape.
Additionally, the rising adoption of smartphones and the growing preference for contactless payments worldwide are expected to drive the market's growth. Mobile payment options are fast and convenient to use. Customers can make payments quickly and easily using their smartphones without needing cash or physical cards. This convenience has made mobile payments an attractive option for consumers.
The rise of fintech has positively affected the payment security market. Fintech companies have invested heavily in developing new and improved payment security trends, such as two-factor authentication, biometric authentication, and tokenization. These trends or payment measures are designed to enhance the security of digital payments and protect against fraud. Additionally, fintech companies have raised awareness about the importance among consumers. As a result, customers are more likely to demand secure payment options and are willing to pay a premium for secure transactions.
Regulatory compliances play a crucial role by establishing standards and requirements that must be met to ensure the confidentiality, integrity, and availability of payment systems and data. Compliance with these regulations helps to prevent fraud, data breaches, and other security incidents that can compromise sensitive financial information and damage the reputation of payment providers and merchants. For instance, Payment Card Industry Data Security Standard (PCI DSS) sets requirements for organizations that process, transmit, or store cardholder data. PCI DSS compliance includes network security, access controls, data encryption, and regular testing and monitoring of payment systems.
Data breaches are becoming more frequent and severe with cybercriminals using increasingly sophisticated methods to steal sensitive information such as payment card data, Personally Identifiable Information (PII), and financial records. This puts individuals and businesses at risk of financial loss, identity theft, and reputational damage. The market must address these concerns to maintain trust in digital payment systems and prevent fraud. One of the main challenges for providers is to keep pace with cybercriminals' constantly evolving tactics and strategies. As these cybercriminals become more sophisticated in their methods, payment security providers must develop more advanced solutions to protect against them. This requires significant investment in research and development to stay ahead of emerging threats, which can be costly.
The COVID-19 pandemic positively impacted the growth of the market. According to the Red Book Statistics from the BIS Committee on Payments and Market Infrastructures (CPMI), the COVID-19 pandemic accelerated payment digitization. Consumers migrated from physical cash to contactless and digital payment instruments. Retailers were increasingly making efforts to use digital payments amid the COVID-19 pandemic. According to a report released by World Bank in November 2021, During the COVID-19 pandemic, the private sector shifted to electronic payments and finance.
Payment Security Market Segmentations:
| By Solution | By Platform | By Organization | By Application |
|
Encryption Tokenization Fraud Detection & Prevention |
Web Based POS Based/Mobile Based |
Small & Medium-Sized Enterprises (SMEs) Large Enterprises |
Retail & E-commerce Travel & Hospitality Healthcare Telecom & IT Education Media & Entertainment Others |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Payment Security Market
5.1. COVID-19 Landscape: Payment Security Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Payment Security Market, By Solution
8.1. Payment Security Market, by Solution, 2023-2032
8.1.1. Encryption
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Tokenization
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. Fraud Detection & Prevention
8.1.3.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Payment Security Market, By Platform
9.1. Payment Security Market, by Platform, 2023-2032
9.1.1. Web Based
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. POS Based/Mobile Based
9.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Payment Security Market, By Organization
10.1. Payment Security Market, by Organization, 2023-2032
10.1.1. Small & Medium-Sized Enterprises (SMEs)
10.1.1.1. Market Revenue and Forecast (2020-2032)
10.1.2. Large Enterprises
10.1.2.1. Market Revenue and Forecast (2020-2032)
Chapter 11. Global Payment Security Market, By Application
11.1. Payment Security Market, by Application, 2023-2032
11.1.1. Retail & E-commerce
11.1.1.1. Market Revenue and Forecast (2020-2032)
11.1.2. Travel & Hospitality
11.1.2.1. Market Revenue and Forecast (2020-2032)
11.1.3. Healthcare
11.1.3.1. Market Revenue and Forecast (2020-2032)
11.1.4. Telecom & IT
11.1.4.1. Market Revenue and Forecast (2020-2032)
11.1.5. Education
11.1.5.1. Market Revenue and Forecast (2020-2032)
11.1.6. Media & Entertainment
11.1.6.1. Market Revenue and Forecast (2020-2032)
11.1.7. Others
11.1.7.1. Market Revenue and Forecast (2020-2032)
Chapter 12. Global Payment Security Market, Regional Estimates and Trend Forecast
12.1. North America
12.1.1. Market Revenue and Forecast, by Solution (2020-2032)
12.1.2. Market Revenue and Forecast, by Platform (2020-2032)
12.1.3. Market Revenue and Forecast, by Organization (2020-2032)
12.1.4. Market Revenue and Forecast, by Application (2020-2032)
12.1.5. U.S.
12.1.5.1. Market Revenue and Forecast, by Solution (2020-2032)
12.1.5.2. Market Revenue and Forecast, by Platform (2020-2032)
12.1.5.3. Market Revenue and Forecast, by Organization (2020-2032)
12.1.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.1.6. Rest of North America
12.1.6.1. Market Revenue and Forecast, by Solution (2020-2032)
12.1.6.2. Market Revenue and Forecast, by Platform (2020-2032)
12.1.6.3. Market Revenue and Forecast, by Organization (2020-2032)
12.1.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.2. Europe
12.2.1. Market Revenue and Forecast, by Solution (2020-2032)
12.2.2. Market Revenue and Forecast, by Platform (2020-2032)
12.2.3. Market Revenue and Forecast, by Organization (2020-2032)
12.2.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.5. UK
12.2.5.1. Market Revenue and Forecast, by Solution (2020-2032)
12.2.5.2. Market Revenue and Forecast, by Platform (2020-2032)
12.2.5.3. Market Revenue and Forecast, by Organization (2020-2032)
12.2.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.6. Germany
12.2.6.1. Market Revenue and Forecast, by Solution (2020-2032)
12.2.6.2. Market Revenue and Forecast, by Platform (2020-2032)
12.2.6.3. Market Revenue and Forecast, by Organization (2020-2032)
12.2.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.7. France
12.2.7.1. Market Revenue and Forecast, by Solution (2020-2032)
12.2.7.2. Market Revenue and Forecast, by Platform (2020-2032)
12.2.7.3. Market Revenue and Forecast, by Organization (2020-2032)
12.2.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.2.8. Rest of Europe
12.2.8.1. Market Revenue and Forecast, by Solution (2020-2032)
12.2.8.2. Market Revenue and Forecast, by Platform (2020-2032)
12.2.8.3. Market Revenue and Forecast, by Organization (2020-2032)
12.2.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.3. APAC
12.3.1. Market Revenue and Forecast, by Solution (2020-2032)
12.3.2. Market Revenue and Forecast, by Platform (2020-2032)
12.3.3. Market Revenue and Forecast, by Organization (2020-2032)
12.3.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.5. India
12.3.5.1. Market Revenue and Forecast, by Solution (2020-2032)
12.3.5.2. Market Revenue and Forecast, by Platform (2020-2032)
12.3.5.3. Market Revenue and Forecast, by Organization (2020-2032)
12.3.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.6. China
12.3.6.1. Market Revenue and Forecast, by Solution (2020-2032)
12.3.6.2. Market Revenue and Forecast, by Platform (2020-2032)
12.3.6.3. Market Revenue and Forecast, by Organization (2020-2032)
12.3.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.7. Japan
12.3.7.1. Market Revenue and Forecast, by Solution (2020-2032)
12.3.7.2. Market Revenue and Forecast, by Platform (2020-2032)
12.3.7.3. Market Revenue and Forecast, by Organization (2020-2032)
12.3.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.3.8. Rest of APAC
12.3.8.1. Market Revenue and Forecast, by Solution (2020-2032)
12.3.8.2. Market Revenue and Forecast, by Platform (2020-2032)
12.3.8.3. Market Revenue and Forecast, by Organization (2020-2032)
12.3.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.4. MEA
12.4.1. Market Revenue and Forecast, by Solution (2020-2032)
12.4.2. Market Revenue and Forecast, by Platform (2020-2032)
12.4.3. Market Revenue and Forecast, by Organization (2020-2032)
12.4.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.5. GCC
12.4.5.1. Market Revenue and Forecast, by Solution (2020-2032)
12.4.5.2. Market Revenue and Forecast, by Platform (2020-2032)
12.4.5.3. Market Revenue and Forecast, by Organization (2020-2032)
12.4.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.6. North Africa
12.4.6.1. Market Revenue and Forecast, by Solution (2020-2032)
12.4.6.2. Market Revenue and Forecast, by Platform (2020-2032)
12.4.6.3. Market Revenue and Forecast, by Organization (2020-2032)
12.4.6.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.7. South Africa
12.4.7.1. Market Revenue and Forecast, by Solution (2020-2032)
12.4.7.2. Market Revenue and Forecast, by Platform (2020-2032)
12.4.7.3. Market Revenue and Forecast, by Organization (2020-2032)
12.4.7.4. Market Revenue and Forecast, by Application (2020-2032)
12.4.8. Rest of MEA
12.4.8.1. Market Revenue and Forecast, by Solution (2020-2032)
12.4.8.2. Market Revenue and Forecast, by Platform (2020-2032)
12.4.8.3. Market Revenue and Forecast, by Organization (2020-2032)
12.4.8.4. Market Revenue and Forecast, by Application (2020-2032)
12.5. Latin America
12.5.1. Market Revenue and Forecast, by Solution (2020-2032)
12.5.2. Market Revenue and Forecast, by Platform (2020-2032)
12.5.3. Market Revenue and Forecast, by Organization (2020-2032)
12.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.5.5. Brazil
12.5.5.1. Market Revenue and Forecast, by Solution (2020-2032)
12.5.5.2. Market Revenue and Forecast, by Platform (2020-2032)
12.5.5.3. Market Revenue and Forecast, by Organization (2020-2032)
12.5.5.4. Market Revenue and Forecast, by Application (2020-2032)
12.5.6. Rest of LATAM
12.5.6.1. Market Revenue and Forecast, by Solution (2020-2032)
12.5.6.2. Market Revenue and Forecast, by Platform (2020-2032)
12.5.6.3. Market Revenue and Forecast, by Organization (2020-2032)
12.5.6.4. Market Revenue and Forecast, by Application (2020-2032)
Chapter 13. Company Profiles
13.1. Elavon Inc.
13.1.1. Company Overview
13.1.2. Product Offerings
13.1.3. Financial Performance
13.1.4. Recent Initiatives
13.2. Ingenico
13.2.1. Company Overview
13.2.2. Product Offerings
13.2.3. Financial Performance
13.2.4. Recent Initiatives
13.3. Ultimaco Management Gmbh
13.3.1. Company Overview
13.3.2. Product Offerings
13.3.3. Financial Performance
13.3.4. Recent Initiatives
13.4. Shift4 Payment Inc.
13.4.1. Company Overview
13.4.2. Product Offerings
13.4.3. Financial Performance
13.4.4. Recent Initiatives
13.5. Mastercard
13.5.1. Company Overview
13.5.2. Product Offerings
13.5.3. Financial Performance
13.5.4. Recent Initiatives
13.6. Intelligent Payment Solutions Pvt Ltd.
13.6.1. Company Overview
13.6.2. Product Offerings
13.6.3. Financial Performance
13.6.4. Recent Initiatives
13.7. TokenEx, LLC
13.7.1. Company Overview
13.7.2. Product Offerings
13.7.3. Financial Performance
13.7.4. Recent Initiatives
13.8. Paypal Holdings, Inc.
13.8.1. Company Overview
13.8.2. Product Offerings
13.8.3. Financial Performance
13.8.4. Recent Initiatives
13.9. Bluefin Payment Systems
13.9.1. Company Overview
13.9.2. Product Offerings
13.9.3. Financial Performance
13.9.4. Recent Initiatives
13.10. Visa Inc.
13.10.1. Company Overview
13.10.2. Product Offerings
13.10.3. Financial Performance
13.10.4. Recent Initiatives
Chapter 14. Research Methodology
14.1. Primary Research
14.2. Secondary Research
14.3. Assumptions
Chapter 15. Appendix
15.1. About Us
15.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers