Global Payment Security Market Overview 2023-2028
The global payment security market size reached US$ 23.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.0 Billion by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.
Payment security refers to the measures and protocols used to safeguard financial transactions conducted through online or offline methods. It protects sensitive information like credit card numbers, bank account details, and personal identification information from unauthorized access or fraudulent activities. Payment security involves the use of various technologies, including encryption, tokenization, and secure sockets layer (SSL) protocols, to ensure the safe transmission of data between parties. It can be used by educational institutions to help in maintaining the confidentiality and integrity of student and parent financial data.
Global Payment Security Market Trends and Drivers:
The increasing use of payment security in the e-commerce industry for safeguarding customer data and ensuring secure online transactions represents one of the primary factors supporting the market growth around the world. Moreover, the rising adoption of payment security in the banking, financial services and insurance (BFSI) industry to protect against fraudulent activities, such as unauthorized transactions and identity theft, is favoring the growth of the market. In addition, the growing usage of payment security in the healthcare sector to safeguard sensitive patient data, including payment information for medical services, is influencing the market positively. Apart from this, the increasing adoption of payment security methods by hotels, airlines, and travel agencies to secure bookings and reservations is bolstering the market growth.
Global Payment Security Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are: Bluefin Payment Systems LLC, Broadcom Inc., Cybersource (Visa Inc.), Elavon Inc. (U.S. Bancorp), Ingenico (Worldline), PayPal Holdings Inc., SecurionPay, Shift4 Payments, Signifyd, SISA Information Security, TokenEx and VeriFone Inc.
The report segmented the market on the basis of region, component, platform, enterprise size and end user.
Breakup by Component:
- Fraud Detection and Prevention
Breakup by Platform:
Breakup by Enterprise Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by End User:
- Government and Utilities
- IT and Telecom
- Retail and E-Commerce
- Media and Entertainment
- Travel and Hospitality
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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