(At 24.5% CAGR) Real-Time Payments Market to Reach $123 Bn, Globally, by 2031 | Rapid Digitalization in Payments Sector

(At 24.5% CAGR) Real-Time Payments Market to Reach $123 Bn, Globally, by 2031 | Rapid Digitalization in Payments Sector

NEW CASTLE, WILMINGTON, UNITED STATES, July 11, 2024 /EINPresswire.com/ -- Recently, Allied Market Research has published a report on the Real-Time Payments Market in which it has touched upon various aspects of the industry ranging from growth forecast, upcoming trends, regional and segmental analysis, and competitive scenario of the landscape. The report provides actionable data and market intelligence on the changing dynamics of the sector in order to help businesses understand how the market might evolve in the coming period. The study also presents accurate revenue numbers and CAGR values to substantiate the given information.

➡️𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 & 𝐓𝐎𝐂 : https://www.alliedmarketresearch.com/request-sample/A19437

Allied Market Research published a report, titled, 'Real-Time Payments Market by Component (Solution, Services), by Deployment Mode (On-premises, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), by Industry Vertical (BFSI, IT and Telecommunications, Retail and e-commerce, Government, Energy and Utilities, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.' According to the report, the global real-time payments industry generated $13.8 billion in 2021, and is expected to reach $123 billion by 2031, witnessing a CAGR of 24.5% from 2022 to 2031.

The real-time payments market is witnessing significant trends and growth factors. The increasing demand for instant and seamless transactions, driven by the rise of e-commerce, mobile banking, and digital wallets, is propelling the adoption of real-time payment solutions. In addition, regulatory initiatives promoting faster payments and open banking are fostering innovation and competition in the market.

𝐏𝐫𝐢𝐦𝐞 𝐃𝐞𝐭𝐞𝐫𝐦𝐢𝐧𝐚𝐧𝐭𝐬 𝐨𝐟 𝐆𝐫𝐨𝐰𝐭𝐡
Benefits provided by real-time payments such as real-time processing of transactions, payment device flexibility, and increase in convenience along with huge adoption of real-time payments among merchants and surge in usage of smartphones and rapid connectivity drive the growth of the global real-time payments market. However, rise in data thefts and difficulties related to replacement process of point-of-sale (POS) terminals restrain the market growth. On the other hand, the expansion of offerings by real-time payment providers, surge in tech-savvy population, and rise in initiatives toward digitized payments create new opportunities in the coming years.

𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐒𝐜𝐞𝐧𝐚𝐫𝐢𝐨
The Covid-19 pandemic had a positive impact on the real-time payments market, owing to rise in adoption of real-time payment options by retail merchants, e-commerce websites, and others. The cash and cheque payments reduced considerably to minimize the possibility of cross-contamination as they can be carried out without touch.
Banks, non-banking financial companies, and real-time payments providers raised the limits on minimum transactions and developed technologically-advanced products. Also, they encouraged people to carry out real-time transactions more than before through discounts and offers.
The demand for real-time payments increased considerably during the pandemic and the trend is expected to continue post-pandemic as well.
Scope of the Report: -

➡️𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A19437

𝐊𝐞𝐲 𝐜𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬 𝐩𝐫𝐨𝐟𝐢𝐥𝐞𝐝
Bayer AG, CooperSurgical Inc, DKT International, Mona Lisa NV, Pregna International Limited, Prosan International BV, Abviee Inc, Eurogine, S.L., Viatris Inc, Mona Lisa N.V. Access Table PDF

𝐓𝐡𝐞 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐌𝐚𝐢𝐧𝐭𝐚𝐢𝐧 𝐢𝐭𝐬 𝐋𝐞𝐚𝐝 𝐏𝐨𝐬𝐢𝐭𝐢𝐨𝐧 𝐝𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐅𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐏𝐞𝐫𝐢𝐨𝐝
Based on component, the solution segment accounted for the largest market share in 2021, contributing to around three-fourths of the global real-time payments market, and is projected to maintain its lead position during the forecast period. This is due to utilization of real-time payments solutions in enhancing connectivity, offering quick processing payments, and providing a better user experience. However, the services segment is estimated to manifest the largest CAGR of 29.0% from 2022 to 2031, owing to real time payment services offering outsourcing for processing transactions to handle traditional payments efficiently, which, in turn, increases customer loyalty and improve public service quality.

𝐓𝐡𝐞 𝐎𝐧-𝐏𝐫𝐞𝐦𝐢𝐬𝐞𝐬 𝐒𝐞𝐠𝐦𝐞𝐧𝐭 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐝 𝐭𝐨 𝐭𝐡𝐞 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟏
Based on deployment mode, the on-premises segment contributed to the highest market share in 2021, accounting for around two-thirds of the global real-time payments market. This is attributed to offering of replacement for the legacy system of processing payments, help in bringing their payment ecosystem onto their own servers, and moving real-time payments in-house. However, the cloud segment is estimated to manifest the highest CAGR of 31.0% from 2022 to 2031. This is due to convenience and versatility provided by a cloud-based system for executing the payments from anywhere by the customers.

𝐓𝐡𝐞 𝐁𝐅𝐒𝐈 𝐬𝐞𝐠𝐦𝐞𝐧𝐭 𝐭𝐨 𝐜𝐨𝐧𝐭𝐢𝐧𝐮𝐞 𝐢𝐭𝐬 𝐡𝐢𝐠𝐡𝐞𝐬𝐭 𝐜𝐨𝐧𝐭𝐫𝐢𝐛𝐮𝐭𝐢𝐨𝐧 𝐭𝐡𝐫𝐨𝐮𝐠𝐡𝐨𝐮𝐭 𝐭𝐡𝐞 𝐟𝐨𝐫𝐞𝐜𝐚𝐬𝐭 𝐩𝐞𝐫𝐢𝐨𝐝
Based on industry vertical, the BFSI segment accounted for the largest market share in 2021, holding nearly one-fourth of the global real-time payments market, and is estimated to continue its highest contribution throughout the forecast period. This is due to ease in management of money movement straight from a single dashboard by banks & financial companies. However, the retail and e-commerce segment is projected to register the fastest CAGR of 27.4% from 2022 to 2031. This is attributed to rise in adoption by retail merchants, management of complete end-to-end process, and ease in collecting customer payments, receiving subscription payments, and processing instant refunds.

𝐍𝐨𝐫𝐭𝐡 𝐀𝐦𝐞𝐫𝐢𝐜𝐚 𝐡𝐞𝐥𝐝 𝐭𝐡𝐞 𝐥𝐚𝐫𝐠𝐞𝐬𝐭 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐡𝐚𝐫𝐞 𝐢𝐧 𝟐𝟎𝟐𝟏
Based on region, North America held the largest market share in 2021, accounting for nearly two-fifths of the global real-time payments market. This is due to rapid adoption of mobile wallets such as Apple Pay and Samsung Pay and surge in trend of contactless payment during the pandemic. However, Asia-Pacific is projected to grow at the largest CAGR of 27.4% from 2022 to 2031, owing to adoption of a broader range of payments such as NFC payments, QR codes, tap to pay, and others.

➡️𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐖𝐞 𝐨𝐟𝐟𝐞𝐫 𝐜𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐞𝐝 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐬 𝐩𝐞𝐫 𝐲𝐨𝐮𝐫 𝐫𝐞𝐪𝐮𝐢𝐫𝐞𝐦𝐞𝐧𝐭 : https://www.alliedmarketresearch.com/request-for-customization/A19437

𝐋𝐞𝐚𝐝𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐏𝐥𝐚𝐲𝐞𝐫𝐬

ACI Worldwide, Inc.
Cognizant
FIS Inc.
Financial Software & Systems Pvt. Ltd.
Finastra, Fiserv, Inc.
Mastercard, Inc.
Microsoft Corporation
Mindgate Solutions Private Limited
Montran Corp.
PayPal Holdings, Inc.
TCS
Temenos AG
Visa Inc.
Volante Technologies Inc.
Sila
Rapyd

𝐊𝐞𝐲 𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐟𝐨𝐫 𝐒𝐭𝐚𝐤𝐞𝐡𝐨𝐥𝐝𝐞𝐫𝐬
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the real-time payments market analysis from 2021 to 2031 to identify the prevailing real-time payments market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the real-time payments market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global real-time payments market trends, key players, market segments, application areas, and market growth strategies.

➡️𝐁𝐮𝐲 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞 @ https://www.alliedmarketresearch.com/checkout-final/249088be5f499b5f5b913c9ae8497f7b?utm_source=AMR&utm_medium=research&utm_campaign=P19623

𝐊𝐞𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐬
𝐂𝐨𝐦𝐩𝐨𝐧𝐞𝐧𝐭

Solution
Services
Professional Services
Managed Services

𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐌𝐨𝐝𝐞
On-premises
Cloud

𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞 𝐒𝐢𝐳𝐞
Large Enterprises
Small and Medium-sized Enterprises (SMEs)

𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐕𝐞𝐫𝐭𝐢𝐜𝐚𝐥
BFSI
IT and Telecommunications
Retail and e-commerce
Government
Energy and Utilities
Others

➡️𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐚𝐭 𝐃𝐢𝐬𝐜𝐨𝐮𝐧𝐭𝐞𝐝 𝐏𝐫𝐢𝐜𝐞:

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https://www.alliedmarketresearch.com/tax-advisory-services-market-A31503

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https://www.alliedmarketresearch.com/management-consulting-services-market-A19875

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