The Real-Time Payments by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Real-Time Payments Market:
https://www.thebusinessresearchcompany.com/report/real-time-payments-global-market-report
According to The Business Research Company’s Real-Time Payments, The real-time payments market size has grown exponentially in recent years. It will grow from $27.76 billion in 2023 to $36.75 billion in 2024 at a compound annual growth rate (CAGR) of 32.4%. The growth in the historic period can be attributed to consumer demand for instant gratification, mobile and digital wallet adoption, globalization and cross-border transactions, regulatory initiatives, e-commerce growth..
The real-time payments market size is expected to see exponential growth in the next few years. It will grow to $119.21 billion in 2028 at a compound annual growth rate (CAGR) of 34.2%. The growth in the forecast period can be attributed to increasing demand for business efficiency, changing consumer behavior, enhanced security measures, increased financial inclusion initiatives, rise of central bank digital currencies (cbdcs).. Major trends in the forecast period include open banking and api integration, peer-to-peer (p2p) and social payments, blockchain and distributed ledger technology, real-time payroll and business payments, customer experience enhancement..
The increasing penetration of smartphones is expected to propel the growth of the real-time payment market going forward. A smartphone is a portable electrical device that combines a computer with high-tech features that weren’t previously seen in telephones, such an operating system, web browsing, and the capacity to run software programs. The widespread usage of smartphones throughout the world facilitated real-time payment transactions, and smartphone payments became a convenient choice for users. For instance, in October 2021, according to The Economic Times, an Indian business newspaper, India has the highest monthly mobile data usage rate in the world (12 GB per person), and it adds 25 million new smartphone users every three months. Therefore, the increasing penetration of smartphones is driving the real-time payment market growth.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=6864&type=smp
The real-time payments market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Type: Person-to-Person (P2P), Person-to-Business (P2B), Business-to-Person (B2P), Others (Business-to-Government (B2G), Government-to-Business (G2B), Business-to-Business (B2B), Person-to-Government (P2G), and Government-to-Person (G2P))
3) By Enterprise Size: Small and Medium-Sized Enterprises (SMEs), Large Enterprises
4) By Deployment: On-Premise, Cloud
5) By End Users: Retail and E-commerce, Government and Utilities, Healthcare, Telecom and IT, Travel and Hospitality, BFSI, Other End-Users
Technological advancements have emerged as a key trend gaining popularity in the real-time payments market. Major companies operating in the real-time payments sector are focused on developing new technologies to strengthen their position in the market. For instance, in April 2022, IBM, a US-based technology corporation operating in the real-time payments market, launched a new generation mainframe with artificial intelligence technology. The new IBM z16 processor can support deep learning-based fraud detection for all transactions.
The real-time payments market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: [email protected]
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
