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E-commerce Payment - Global Market Trajectory & Analytics

  • ID: 4845725
  • Report
  • April 2021
  • Region: Global
  • 193 pages
  • Global Industry Analysts, Inc
Global E-commerce Payment Market to Reach $60.5 Billion by 2027

Amid the COVID-19 crisis, the global market for E-commerce Payment estimated at US$27.8 Billion in the year 2020, is projected to reach a revised size of US$60.5 Billion by 2027, growing at a CAGR of 11.8% over the analysis period 2020-2027. Credit Cards, one of the segments analyzed in the report, is projected to record a 10.1% CAGR and reach US$19.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Debit Card segment is readjusted to a revised 10.6% CAGR for the next 7-year period.



The U.S. Market is Estimated at $7.5 Billion, While China is Forecast to Grow at 15.2% CAGR

The E-commerce Payment market in the U.S. is estimated at US$7.5 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$13 Billion by the year 2027 trailing a CAGR of 15.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 10.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 9.2% CAGR.

Digital Payment/E-Wallet Segment to Record 14.2% CAGR

In the global Digital Payment/E-Wallet segment, USA, Canada, Japan, China and Europe will drive the 13.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.9 Billion in the year 2020 will reach a projected size of US$14.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$8.9 Billion by the year 2027, while Latin America will expand at a 15.9% CAGR through the analysis period.

Select Competitors (Total 46 Featured):
  • Alibaba Group Holding Ltd.
  • Alipay
  • Amazon Payments, Inc.
  • Amazon.com Inc.
  • American Express Company
  • Apple Inc.
  • Capital One Financial Corp.
  • CCBill, LLC
  • MasterCard Incorporated
  • PayPal Holdings, Inc.
  • Stripe Inc.
  • The OLB Group Inc.
  • UnionPay International Co., Ltd.
  • Visa, Inc.
  • WePay Inc.
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I. METHODOLOGY

II. EXECUTIVE SUMMARY
  • Influencer Market Insights
  • World Market Trajectories
  • Impact of Covid-19 and a Looming Global Recession
  • E-commerce Payment: A Prelude
  • Review of Major E-commerce Payment Platforms
  • Robust Outlook for e-Commerce Provides the Foundation for Growth in the Market
  • Exhibit 1: Robust Growth of E-Commerce Supported by the On-Demand Economy to Amplify the Importance of Electronic Payment Options: Global e-Commerce Sales (In US$ Billion) for the Years 2017, 2019 & 2022
  • As the World Moves to a Cashless Society, e-Commerce Payments Stands at the Verge of Irrevocable Change
  • As Global Non-Cash Transactions Spirals, Ecommerce Payments Market is Poised for Heady Opportunities Ahead: Global Number of Cashless Transactions (In Billion) by Geographic Region for the Years 2015, 2017, 2019, 2021
  • Rapid Penetration of Internet & Growing Ownership of Smartphones Drive the Preference for Online Payments
  • Growing Base of Internet Users Worldwide as Evidenced by Growing Penetration Rates Provides the Platform for the Rise of Online Shopping & Electronic Payments: Global Internet User Penetration for the Years 2017, 2019, 2022 and 2024
  • Expanding Base of Smartphone Users to Over 38% of the Global Population Bodes Well for Online Shopping & Adoption of Mobile Payments Apps: Global Number of Smartphone Users for the Years 2016 through 2020
  • Financial Inclusion & Reduction in the Number of Unbanked People Bodes Well for the Adoption of Online Payment Options
  • Growing Global Efforts for Financial Inclusion to Catapult the Popularity and Importance of Digital Payment Platforms: Global Account Ownership by Gender (In %) Breakdown by High Income & Low and Middle Income Economies for the Years 2013, 2015 and 2019
  • Development of Safe & Secure Payment Gateways Catalyzes the Confidence in Online Payments
  • Blockchain Payments Emerges as a Technology that Knows No Boundaries, Redefining eCommerce & Driving Cross-Border eCommerce
  • Spectacular Growth of Blockchain Technology & Its Promising Use in the Field of Digital Currency & Payments to Revolutionize eCommerce: Global Market for Blockchain (In US$ Billion) for the Years 2018, 2020, 2022 and 2024
  • Rise of Cryptocurrencies as a Payment Platform for Online Transactions, A Key Trend in the Market
  • Growing Awareness of Cryptocurrencies Among Global Internet Users & Rising Ownership Rates Bodes Well for their Rise as Effective Platforms for eCommerce Payments: Ownership of Cryptocurrency (As % of Total Population) by Country for the Year 2019
  • Mobile Biometrics Emerges to Add an Additional Layer of Payment Safety with Multiplier Impact on Adoption Rates
  • Astounding Penetration of Biometrics for Mobile Devices to Push Up the Volume of Online Financial Transactions: Global % Share of Mobile Devices That Utilize Biometrics for Online Transactions for the Years 2017, 2019, 2021 and 2023
  • Global % Share of Type of Devices Sold With Biometrics Technology for the Years 2017, 2019 & 2021
  • Innovations in FinTech & Rise of Mobile Commerce Drive the Popularity of Digital Wallets & Mobile Payment Apps
  • As the Future of eCommerce Becomes Mobile, Mobile Wallet Emerges an Important eCommerce Payment Platform: Adoption of Mobile Wallet (In %) by Region/Country for the Year 2019
  • Robust Mobile Commerce Market to Benefit the Growth of Mobile Wallets: Global Mobile Commerce Market (In US$ Billion) for the Years 2016 to 2020
  • Well Developed & Continuously Evolving Ecosystem of Mobile Payment Apps, a Key Growth Driver
  • Growing Number of App Users Mirror the Well Developed Mobile Payment App Ecosystem their Growing Reach & Visibility Among Consumers: Global Number of Users (In Million) Breakdown by Leading Mobile Payment Platform for the Year 2018
  • Supported by Myriad Benefits, Electronic Funds Transfer Grows in Prominence
III. MARKET ANALYSIS

IV. COMPETITION
  • Total Companies Profiled: 46
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