Market Synopsis of Payment Security Market
The payment security is a security approach that relies on multiple layers of technology, analytics, and security practices to help protect the payment system and reduce fraud. Payment security technology is improving at a rapid pace, due to the point-to-point encryption solution, which helps to secure the payment systems in the forthcoming years. Additionally, the improvement in outsourcing payment solution have grabbed the organizations attention towards the payment security. Also, the major player such as PayPal Holdings, Visa and among others, has continued to innovate to improve security and help prevent fraud.
The study indicates that the payment security is driven due to the factors such as it operates without handling payments data, reduces the security risk posed by payment data. Moreover, it accepts the payments in a secure way from web and mobile browsers and provide the instant checkout. The new players emerging across the world, and the rise in demand of mobile commerce has enforced to the payment security standardized the payment infrastructure system in the future.
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The Global Payment Security Market is expected to grow at USD 27 Billion by 2023, at ~17% of CAGR between 2017 and 2023.
Study Objectives of Payment Security Market.
- To provide detailed analysis of the market structure along with forecast of the various segments and sub-segments of the Payment Security Market.
- To provide insights about factors affecting the market growth.
- To analyze the Payment Security Market based porter’s five force analysis etc.
- To provide historical and forecast revenue of the market segments and sub-segments with respect to four main geographies and their countries- North America, Europe, Asia, and Rest of the World (ROW)
- To provide country level analysis of the market with respect to the current market size and future prospective
- To provide country level analysis of the market for segment by type, application and End-User.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Payment Security.
The prominent players in the Payment Security Market are – Ingenico ePayments (Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (US), PayPal Holdings (US), Elavon (US), Index (US), Shift4 Corporation (US), Transaction Network Services (TNS) Inc. (US), TokenEx, LLC (US) and CyberSource Corporation (US), among others.
The global payment security market has been segmented on the basis of component, organization size, end-users, and region.
Global Payment Security Market by Component:
- Fraud detection and prevention
- Support services
- Integration services
- Consulting service
Global Payment Security Market by Organization Size:
- Large enterprises
- Small and Medium-Sized Enterprises (SMEs)
Global Payment Security Market by End-Users:
- IT and telecom
- Travel and hospitality
Global Payment Security Market by Regions:
- North America
- Rest of the World
The regional analysis of global payment security market is being studied for region including Asia Pacific, North America, Europe and Rest of the World. North America region is dominating the global payment security market and accounted for a largest market share. In Europe region, the payment security market is gaining momentum as the businesses are constantly monitoring new developments and shaping their PCI DSS technology. Asia Pacific is expected to reach to the highest CAGR in the payment security market as the companies are ensuring for the safe and secure online transaction. This region is expected to grow further in the coming years of the payment security market.
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- Payment Security manufacturers
- Original equipment manufacturers
- Government agencies
- Payment security vendors
- Network solution providers
- Independent software vendors
- Consulting firms
- System integrators
- Research institutes and organizations
- Technology standards organizations
- Technology investors
- Research institutes,
- System Integrators
- Research/Consultancy firms
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