The global payment security market size is expected to reach
USD 43.76 billion by 2025, according to a new report by Grand View Research,
Inc., progressing at a CAGR of 12.3% during the forecast period. Rising need
for PCI DSS (payment card industry data security standard) compliance and
adoption of digital payment mode by consumers are likely to stoke the growth of
the market. The payments industry is going through a movement of infrastructure
transformation, which is essential to compete efficiently with non-bank
trendsetters and address progressing customer requirements.
Over the past few years, major economies have
modernized their payment infrastructures and many others are scheduling to
upgrade. Digital payments aid merchants in maintaining continuous compliance
with PCI DSS, which is further anticipated to bolster the growth of the payment
security market. In March 2015, Worldpay noted over 133,000 fraudulent
transactions reported, which interpreted stolen card details being used every
20 seconds. Thus, payment security providers help its customer's systems to
protect itself from threats and aim to provide secure businesses by getting
them to comply with PCI DSS. Therefore, the payment security market is
estimated to be driven by the adoption of PCI DSS compliance.
Fraud detection and prevention solutions hold the
largest share in the overall market. These solutions provide various fraud
analytics solutions such as big data and predictive analytics. Big data and
predictive analytics helps to detect and avoid frauds.
Full
Research Report On Global Payment Security Market By Grand View Research:
www.grandviewresearch.com/industry-analysis/payment-security-market
www.grandviewresearch.com/industry-analysis/payment-security-market
Further
key findings from the report suggest:
- The global payment security market had a
valuation of USD 15.79 billion in 2017
- Encryption platform emerged as the fastest
growing segment over the forecast period
- Large enterprises represented the leading
segment in terms of organization in 2017 and are projected to generate
revenue over USD 29.80 billion by 2025
- The education market is poised to witness the
highest CAGR of 13.4% over the forecast period
- North America was the leading revenue
contributor in 2017. Rising number of startups in the retail industry and
presence of prominent payment security providers in the region is expected
to drive the North America payment security market
- Key players include Braintree, CyberSource,
Ingenico, and Index among others. These players commanded the leading
revenue share in the market in 2017.
Browse
More Reports Of This Category By Grand View Research:
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Grand View Research has segmented the global payment security market on
the basis of solution, platform, organization, application, and region:
Payment
Security Solution Outlook (Revenue, USD Million, 2014 - 2025)
- Encryption
- Tokenization
- Fraud
Detection & Prevention
Payment
Security Platform Outlook (Revenue, USD Million, 2014 - 2025)
- Web
based
- POS
based
Payment
Security Organization Outlook (Revenue, USD Million, 2014 - 2025)
- Small
and Medium Enterprises
- Large
Enterprises
Payment
Security Application Outlook (Revenue, USD Million, 2014 - 2025)
- Retail
& ecommerce
- Travel
& Hospitality
- Healthcare
- Telecom
& IT
- Education
- Media
& Entertainment
- Others
Payment
Security Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Italy
- Turkey
- Sweden
- Spain
- Poland
- Asia
Pacific
- China
- India
- Japan
- South
Korea
- Taiwan
- Thailand
- Malaysia
- Singapore
- Indonesia
- Australia
- South
America
- Brazil
- Argentina
- Middle
East & Africa
- U.A.E
- Saudi
Arabia
- Egypt
Access
Press Release Of This Research Report By Grand View Research:
www.grandviewresearch.com/press-release/global-payment-security-market
www.grandviewresearch.com/press-release/global-payment-security-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For More
Information: www.grandviewresearch.com
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