North America Buy Now Pay Later Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029 Others (Travel And Transportation, Education, Logistics) Global Buy Now Pay Later Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2018-2029īanking, financial services and insurance (BFSI) Perpay Inc., (Pennsylvania, Philadelphia) Laybuy Group Holdings Limited (Auckland, New Zealand) Klarna Bank AB (publ) (Stockholm, Sweden) List of Key Players Mentioned in the Report. Additionally, the report also contains various factors that will impact the market in a positive/negative manner. Various technological advancements are analyzed by employing various methodologies in order to provide further insights into the market. The market report for buy now pay later encompassed critical aspects such as the ongoing market trends and the latest industry developments. Others are focused on increasing their market share by employing tactics such as mergers & acquisitions and collaborations. This expansion is aimed at encompassing the consumer-focused changes in order to disrupt the payments industry. For example, in October 2021, Klarna Bank AB expanded its portfolio of buy now pay later services in the region of the U.K. Dominant players are increased investments in advanced technologies such as AI, cloud computing, and machine learning to create an enhanced experience for their users. The sector of buy now pay later is highly fragmented with many players occupying the market and changing the dynamics from time to time. In terms of geography, the market can be categorized into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.Įxpanding Services & Product Development to Push Prominent Players Towards Higher Growth The Asia Pacific will grow with the fastest CAGR in terms of global contribution due to rising instances of digital payment platforms and increasing adoption of e-commerce online applications.Įurope will hold a considerable market share due to the rising adoption of services among online shopping platforms and increased penetration of international players towards the region.īased on channel, the market can be divided into point of sale (POS) and online.īy category, the market can be broken down into BFSI, consumer electronics, fashion & garment, healthcare, retail, media and entertainment, and others. Additionally, the presence of key players in the region and rising consumer spending will increase the footprint of the market. North America will witness the largest buy now pay later market share during the forecast period due to increasing investment activities in R&D and a supportive start-up ecosystem.
North America to Reign Dominance due to Rising Investment in R&D Activities However, a lack of awareness of services will limit the growth of the market during the forecast period. Increased Number of E-commerce Platforms to Augment Market Growthįactors such as the rising adoption of online payments across sectors such as banking, health insurance, retail & consumer goods and expanding e-commerce sales will boost the buy now pay later market growth during the forecast period.Īdditionally, rising digital payments and increasing awareness regarding consumer electronics will increase the footprint of the market.Īlso, the integration of artificial intelligence will further fuel the growth of the market. Cashback and incentives will be integrated into this partnership. This partnership is expected to combine shopping experience and payment methods for gathering a larger consumer base.
Additionally, rising investments from dominant players will boost the growth of the market.Īfterpay Limited announced a partnership with Rakuten to accumulate shopping rewards after using its BNPL service. This vital information is presented by Fortune Business Insights™, in its report, titled, “Buy Now Pay Later Market Forecast, 2023-2029.” Factors such as the rising number of e-commerce platforms and increasing adoption of services will increase the footprint of the market during the forecast period. The market is projected to grow from USD 22.86 billion in 2022 to USD 90.51 billion in 2029 at a CAGR of 21.7% during the 2022-2029 period.
Pune,India, Ap(GLOBE NEWSWIRE) - The Buy Now Pay Later Market size was USD 15.91 billion in 2021. As per the report by Fortune Business Insights, the global Buy Now Pay Later Market Size is projected to reach USD 90.51 billion in 2029, at a CAGR of 21.7% during the forecast period, 2022-2029
0 kommentar(er)
