Next Generation Payment Technology Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

The next generation payment technology market is growing steadily owing to the need of secure and simple payment transactions in the present day. The next generation payment technology ecosystem has been supportive in addressing security, authenticity, and latency, inconvenience issues of the individuals doing payments through timely, accurate and convenient deployment of payment technology solutions..

MARKET SCOPE

The "Global Next Generation Payment Technology Market Analysis to 2031" is a specialized and in-depth study of the technology, media and telecommunication industry with a special focus on the global market trend analysis. The report aims to provide an overview of the next generation payment technology market with detailed market segmentation by technology type, platform type, application and geography. The report provides key statistics on the market status of the leading next generation payment technology market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   based on technology type, the global next generation payment technology market is segmented into emv chip, near field communication (nfc), magnetic secure transmission (mst), bluetooth low energy (ble), quick response code (qr code), others
  
•   On the basis of platform type, the market is segmented into browser, mobile app, point of sale (POS)
  
•   Based on application, the market is bifurcated into BFSI, healthcare, retail and e-commerce, hospitality, others
  

MARKET DYNAMICS

Drivers:

•   Worldwide initiatives for the promotion of digital payments.
  
•   High proliferation of smartphones enabling mCommerce growth.
  

Restraints:

•   Rise in the adoption of contactless payments
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The next generation payment technology market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the next generation payment technology market in these regions.

IMPACT OF COVID-19 ON NEXT GENERATION PAYMENT TECHNOLOGY MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the next generation payment technology market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from next generation payment technology market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the next generation payment technology market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Adyen
  
•   American Express Company
  
•   Apple Inc.
  
•   Verifone
  
•   First Data
  
•   Thales Group
  
•   Ingenico Group S.A.
  
•   Mastercard Incorporated
  
•   Google LLC
  
•   Visa Inc.
  
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Next Generation Payment Technology Report Scope