The next generation payment technology market is growing steadily owing to the need of secure and simple payment transactions in the present day. The next generation payment technology ecosystem has been supportive in addressing security, authenticity, and latency, inconvenience issues of the individuals doing payments through timely, accurate and convenient deployment of payment technology solutions. The development in the market is accredited to the enormous demand of stringent payment security regulations, innovation by technology companies, reforming payments landscape, speed of transactions, ease of use, secure and robust systems against potential attackers to systems among others. By virtue of this development, technology companies, financial institutions, e-commerce companies, payment service providers and payment hardware suppliers among others have adopted payment technology products to ensure simplified and time saving transactions.
The increasing proliferation of smartphones, popularity of wearable technology, increasing adoption of e-commerce & m-commerce, embrace by banking & financial services, government initiatives, entry of leading technology companies and availability of a diverse range of payment technology products & solutions are expected to keep driving the industry despite the financial, technological and security challenges restraining the ecosystem in several key market regions. Therefore, the global payment technology market estimation and forecast has been initiated with an exhaustive set of assumptions, following which market size information for both key geographical areas and key payment technology types & applications have been provided.
The report on ‘Next Generation Payment Technology is a meticulous compilation of the various facets of the payment technology market including a thorough analysis of the different technology types of payment technology mapped across different applications and geographical regions. The Porter’s Five Forces analysis, value chain analysis, key regulations & industry initiatives, business models and key developments have also been included in the report to understand the overall attractiveness of this industry.
The report deals with all the driving factors, challenges, opportunities and market restraints with respect to the next generation payment technology market, which are helpful in identifying trends and key success factors for the industry. The market values form a quintessential part of the report; herein the transaction value from various payment technology systems and services provided in the payment technology market is tracked in order to calculate the market size. The study additionally presents a detailed analysis of the key push and pull forces prevailing in the next generation payment technology market and the estimation and forecast for market size over the time period, 2016 to 2022.
While highlighting the key driving and restraining forces for this market, the report also provides a detailed summary of the payment technology products & solutions. It also includes the key participants involved in the industry at the relevant sections. This report also focuses on the value & volume of payment transactions done in the payment technology market based on business segments and geographical regions by the market participants.
The report answers the following questions about the next generation payment technology market:
- What are the key factors driving the payment technology market and how will the impact change through the forecast period?
- What are the major factors challenging the growth of next generation payment technology market and how can they be addressed through the forecast period?
- How will the market players leverage on key developments such as acquisitions, partnerships & collaborations, business expansions and product developments among others?
- What kind of new strategies are being adopted by existing market players to position themselves better in the payment technology industry?
- How will the payment technologies evolve through the forecast period?
- Which factors will affect the growth of the payment technology market for individual payment technology such as EMV Chip, NFC, BLE, MST and QR Code during the forecast period?
- Which factors will affect the growth of the payment technology market for different application areas like retail, healthcare, enterprise, hospitality and other applications during the forecast period?
- Which factors will affect the growth of the payment technology market for platforms such as mobile point-of-sale and mobile app during the forecast period?
- Which region will dominate the global payment technology market by the end of the forecast period?
Further, the report provides an exhaustive study of the global next generation payment technology market and the trends across geographical regions such as North America, Europe, APAC, and Rest of the World. The company profile section has been broken down into the publically traded companies and private companies. While the global companies have been chosen on the basis of their market developments and revenue generation, best-selling payment technology companies have also been profiled in the report. Some of the established payment technology players in this market are Apple, Samsung, Google, MasterCard, Visa, PayPal, Ingenico, Alipay, Square, Verifone, First Data, Cayan, Adyen and Worldpay etc