A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “Payment Gateways – Global Market Trajectory & Analytics.” The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
Global Payment Gateways Market to Reach $80 Billion by 2026
Amid the COVID-19 crisis, the global market for Payment Gateways estimated at US$42.1 Billion in the year 2020, is projected to reach a revised size of US$80 Billion by 2026, growing at a CAGR of 11.1% over the analysis period. Hosted Payment Gateway, one of the segments analyzed in the report, is projected to record a 10.8% CAGR and reach US$45.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Non-hosted Payment Gateway segment is readjusted to a revised 9.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $12.7 Billion in 2021, While China is Forecast to Reach $16.6 Billion by 2026
The Payment Gateways market in the U.S. is estimated at US$12.7 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$16.6 Billion by the year 2026 trailing a CAGR of 14.5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.7% and 9.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 8.6% CAGR.
Direct Payment Gateway Market Segment to Reach US$12 Billion by the year 2026
In the global Direct Payment Gateway Market segment, USA, Canada, Japan, China and Europe will drive the 12.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$4.2 Billion in the year 2020 will reach a projected size of US$9.6 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.
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