Real-Time Payment Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Real-Time Payments Market covers analysis by Nature of Payment (P2P, P2B and B2P); Component (Solution, Services); Enterprise Size (Large Enterprises, SMEs) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00013242
  • Category : Business and Financial Services
  • Status : Upcoming
  • No. of Pages : 150
Inquire Before Buy

PRICING

$5190

$4671

Real-time payment market is expected to grow from US$ 12.85 billion in 2021 to US$ 86.89 billion by 2028 with an estimated CAGR of 32.0% from 2022 to 2028.

Financial services companies are recognizing the importance of open banking initiatives and application programming interfaces. Traditional banks understand that they must improve their digital capabilities to compete in the sector and avoid being disintermediated by new entrants with superior offers and services. Open Banking APIs boost a bank's attractiveness and enable it to meet the changing expectations of existing clients and attract new ones. The APIs may also be used as a one-of-a-kind solution to boost customer interaction and respond to consumer requirements in a safe, agile, and future-proof way. Open Banking APIs are significant assets for financial services organizations because they allow them to expand service offerings, boost client interaction, and create new digital income channels, which would offer a significant opportunity for the real-time payment market to expand during the forecasted period .

MARKET DYNAMICS

The real-time payment business is gaining traction and is expected to propel in the coming years. Many existing real-time payment prefer the medium over other non-cash payment alternatives, such as push-to-card, same-day ACH, and wire transfer. To strengthen the real-time payment industry, Asia Pacific countries have taken many significant steps to develop real-time payments. The Asian Payments Network (APN) is a consortium of 11 Asian countries, such as the Philippines, China, Singapore, Malaysia, Thailand, Vietnam, Indonesia, South Korea, Japan, New Zealand, and Australia, that promote cross-border banking transactions in the region. Also, it has been seen that many customers in Asia Pacific are inclined toward real-time payment. Thus, increasing real-time payment users drives the demand for real-time payment market across the region.

MARKET SCOPE

The "Global Real-Time Payment Market Analysis to 2028" is a specialized and in-depth study of the real-time payment market with a special focus on the global real-time payment market trend analysis. The report aims to provide an overview of real-time payment market with detailed market segmentation by component, payment mode, deployment, enterprise size, and industry. As per our analysis, the global real-time payment market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading real-time payment market player and offers key trends and opportunities in the real-time payment market.

Strategic Insights

MARKET SEGMENTATION

The global real-time payment market is segmented on the basis of component, payment mode, deployment, enterprise size, and industry. Based on component, the real-time payment market is further segmented into solution and services. The solution segment is further subsegmented into payment gateway, payment processing, and payment security and fraud management. By payment mode, the real-time payment market is categorized into person-to-person, person-to-business, business-to-person, and others. In terms of deployment, the real-time payment market is bifurcated into on premise and cloud. Further, from enterprise size point of reference, the market is split into SMEs and large enterprises. Based on industry, the real-time payment market is divided into BFSI, government, retail & ecommerce, IT & telecom, energy & utilities, and others.


RD Image
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global real-time payment market based on various segments. It also provides market size and forecast estimates from 2019 to 2028 with respect to five major regions North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America, which are further fragmented by countries for detailed research survey. The report covers analysis and forecast of 18 countries globally along with current trends and opportunities prevailing in the region.

From the regional perspective, APAC is expected to grow at the highest CAGR during the forecast period in the real-time payment market. The ongoing innovation in areas such as online payments, point-of-sale acceptance technology, cross-border retail payments and buy now, pay later (BNPL) services is showing a positive response of acceptance among the countries in APAC, which is boosting the market growth. The increasing adoption of smartphones and the growing penetration of the internet have been accelerating the adoption of mobile wallets in recent years. China and India currently account for more than 50% of the smartphone population across the world and have universally adopted the use of eWallets. The usage of eWallets offers payment processing convenience and security, which is anticipated to drive the market growth during the forecast period. Also, consumers in APAC are moving toward adopting e-commerce and online banking owing to the COVID-19 pandemic, which have further accelerated the demand for cash-free transaction methods, contributing to the growth of real-time payment market in the region. The below figure showcases the revenue growth trend in the global real-time payment market:

 Real-Time Payments Market

Source: The Insight Partners Analysis

The report analyzes factors affecting real-time payment market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period, i.e., drivers, restraints, opportunities, and future trends. The report also provides exhaustive PEST analysis highlighting the factors affecting the real-time payment market in these regions.

IMPACT OF COVID-19 PANDEMIC

APAC is highly affected by COVID-19 pandemic due to many cases in China. The country is the most crucial manufacturer and industrial producer since it trades more manufacturing goods than any other country across the world. It is also a world leader in several types of goods. A study by  Center for Strategic and International Studies has reviewed the estimates of the China’s growth, and a drop was observed in Gross Domestic Product (GDP) in 2020. Other major economies, such as India, South Korea, Australia, and Japan, had also been impacted by the pandemic and experienced decline in the growth. Mobility restrictions and cancellation/postponement of various business conferences and events due to the COVID-19 outbreak have negatively affected the overall market in APAC. Since firms have started working from home, the demand for real-time payment solutions has mounted gradually, even in the breakdown. Thus, the disruption has hardly affected the real-time payment market growth.

World Geography

Have a question?

Analyst

Naveen

Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.

Analyst   Speak to Analyst
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
MARKET PLAYERS

The report covers key developments, as well as organic and inorganic growth strategies, in the real-time payment market. Various companies are focusing on organic growth strategies such as product launches and product approvals, along with patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from mobile payment technologies market are anticipated to witness lucrative growth opportunities in the near future with the rising demand for real-time payment solutions. 

The report also includes the profiles of key real-time payment market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years. Below mentioned is the list of few companies engaged in the real-time payment market.

  • ACI Worldwide
  • Apple
  • FIS
  • Fiserv
  • Mastercard
  • PayPal
  • Temenos
  • Visa
  • Wirecard
  • Worldline

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.Real-Time Payments Market

  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
  • Request discounts available for Start-Ups & Universities
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Nature of Payment Component Enterprise Size and Geography

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

The List of Companies

1. ACI Worldwide
2. Apple
3. FIS
4. Fiserv
5. Mastercard
6. PayPal
7. Temenos
8. Visa
9. Wirecard
10. Worldline

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

Trends and growth analysis reports related to Real-Time Payments Market