Global Digital Payment Market Size, Share, Growth Analysis, By Payment Type(Mobile Payment, Online Banking), By Application(Media & Entertainment, Retail) - Industry Forecast 2023-2030

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Digital Payment Market size was valued at USD 61.3 billion in 2021 and is poised to grow from USD 74.08 billion in 2022 to USD 361.3 billion by 2030, growing at a CAGR of 20.8% in the forecast period (2023-2030).

Digital Payment Market Top Players Company Profiles 'PayPal', 'Alipay', 'WeChat Pay', 'Visa Inc.', 'Mastercard Inc.', 'American Express Co.', 'Apple Pay', 'Google Wallet', 'Samsung Pay', 'Square Inc.', 'Stripe Inc.', 'Paytm', 'Skrill', 'TransferWise', 'Dwolla Inc.', 'Venmo', 'Zelle', 'Amazon Pay', 'QuickPay', 'Klarna'

These players have made large investments in cutting-edge technology and have grown their operations in the field of electronic payments. Additionally, the implementation of Distributed Ledger Technology (DLT) has many advantages, including scalable and decentralized business continuity. For example, Civic, a company that provides the e-KYC platform, provides protected digital identification for a lower price. Similar to that, cloud technology has also influenced the study and creation of digital payment options. One such cloud-based solution is Paygilant, which employs a cutting-edge mobile payment application to detect fraud at the point of payment. These technological developments are expected to fuel the expansion of the digital payment industry at global scale

Innovation of Injection Molding Technologies: A huge portion of the world's population lives in rural and isolated areas, and they lack both digital literacy and connectivity. Governments, aid agencies, and businesses are now acknowledging the significance of financial services for the population residing in rural and distant areas and as a result, more individuals now have access to financial services.

Based on the region, North America currently dominates the digital payment market with respect to market share. Factors such as increased deployment and technological advancements in smart parking meters boost the regional market. For instance, the facilities service provider EasyPark and the parking solution supplier ParkMobile announced their alliance, that offers contactless payment options around Vancouver city through this partnership. Additionally, the demand for digital payment solutions is being driven by the rise in unmanned storefronts in the United States.

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Global Digital Payment Market Size, Share, Growth Analysis, By Payment Type(Mobile Payment, Online Banking), By Application(Media & Entertainment, Retail) - Industry Forecast 2023-2030

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