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Payment Security Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

June 2023 | 150 pages | ID: P0BE12F10A30EN
IMARC Group

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The global payment security market size reached US$ 23.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 54.0 Billion by 2028, exhibiting a growth rate (CAGR) of 13.9% during 2023-2028.

Payment security refers to a system of security solutions and services that is designed to prevent monetary frauds, unauthorized transactions and mitigate the risk of data breaches. It also secures all forms of online financial transactions using data encryption, firewalls and data loss prevention (DLP) protocols. It consists of identity and access management, anti-malware, endpoint security, risk and compliance management and intrusion detection. This, in turn, assists in creating a trustworthy platform, minimizing loss of financial data through regular monitoring of malicious activities and provides protection against continuous threats of cyber security breaches. As a result, payment security solutions are widely used across the information technology (IT), healthcare, banking, financial services, and insurance (BFSI) industries.

Payment Security Market Trends:
Significant growth in the banking, financial services, and insurance (BFSI) industry across the globe is creating a positive outlook for the market. Payment security assists banks in streamlining and automating finance management processes, increasing operational efficacy, and ensuring accurate records across recurring processes, such as invoicing and reconciliation. Additionally, the increasing adoption of digital payment modes and utilization of wireless networks in computing devices for facilitating payments is favoring the market growth. Furthermore, various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), machine learning (ML) and artificial intelligence (AI) solutions, are providing an impetus to the market growth. These technologies aid in monitoring transactions, tracking the location of the financial crime, improving accuracy, securing data, mitigating risks, detecting frauds and managing regulatory compliance. In line with this, increasing incidences of payment frauds, cyber-attacks, cyber-crimes, and rising concerns regarding confidential and sensitive data are positively impacting the market growth. Other factors, including rapid digitization, along with the widespread product adoption to fulfil the regulatory requirements of the payment card industry and data security standard (PCI DSS) compliances across the globe, are anticipated to drive the market toward growth.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global payment security market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on component, platform, enterprise size and end user.

Breakup by Component:

Solution
Encryption
Tokenization
Fraud Detection and Prevention
Service

Breakup by Platform:

Web-based
POS-based

Breakup by Enterprise Size:

Small and Medium-sized Enterprises
Large Enterprises

Breakup by End User:

BFSI
Government and Utilities
IT and Telecom
Healthcare
Retail and E-Commerce
Media and Entertainment
Travel and Hospitality
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Bluefin Payment Systems LLC, Broadcom Inc., Cybersource (Visa Inc.), Elavon Inc. (U.S. Bancorp), Ingenico (Worldline), PayPal Holdings Inc., SecurionPay, Shift4 Payments, Signifyd, SISA Information Security, TokenEx and VeriFone Inc.

Key Questions Answered in This Report

1. What was the size of the global payment security market in 2022?
2. What is the expected growth rate of the global payment security market during 2023-2028?
3. What are the key factors driving the global payment security market?
4. What has been the impact of COVID-19 on the global payment security market?
5. What is the breakup of the global payment security market based on the component?
6. What is the breakup of the global payment security market based on the platform?
7. What is the breakup of the global payment security market based on the enterprise size?
8. What is the breakup of the global payment security market based on the end user?
9. What are the key regions in the global payment security market?
10. Who are the key players/companies in the global payment security market?
1 PREFACE

2 SCOPE AND METHODOLOGY

2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
  2.3.1 Primary Sources
  2.3.2 Secondary Sources
2.4 Market Estimation
  2.4.1 Bottom-Up Approach
  2.4.2 Top-Down Approach
2.5 Forecasting Methodology

3 EXECUTIVE SUMMARY

4 INTRODUCTION

4.1 Overview
4.2 Key Industry Trends

5 GLOBAL PAYMENT SECURITY MARKET

5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast

6 MARKET BREAKUP BY COMPONENT

6.1 Solution
  6.1.1 Market Trends
  6.1.2 Key Segments
    6.1.2.1 Encryption
    6.1.2.2 Tokenization
    6.1.2.3 Fraud Detection and Prevention
  6.1.3 Market Forecast
6.2 Service
  6.2.1 Market Trends
  6.2.2 Market Forecast

7 MARKET BREAKUP BY PLATFORM

7.1 Web-based
  7.1.1 Market Trends
  7.1.2 Market Forecast
7.2 POS-based
  7.2.1 Market Trends
  7.2.2 Market Forecast

8 MARKET BREAKUP BY ENTERPRISE SIZE

8.1 Small and Medium-sized Enterprises
  8.1.1 Market Trends
  8.1.2 Market Forecast
8.2 Large Enterprises
  8.2.1 Market Trends
  8.2.2 Market Forecast

9 MARKET BREAKUP BY END USER

9.1 BFSI
  9.1.1 Market Trends
  9.1.2 Market Forecast
9.2 Government and Utilities
  9.2.1 Market Trends
  9.2.2 Market Forecast
9.3 IT and Telecom
  9.3.1 Market Trends
  9.3.2 Market Forecast
9.4 Healthcare
  9.4.1 Market Trends
  9.4.2 Market Forecast
9.5 Retail and E-Commerce
  9.5.1 Market Trends
  9.5.2 Market Forecast
9.6 Media and Entertainment
  9.6.1 Market Trends
  9.6.2 Market Forecast
9.7 Travel and Hospitality
  9.7.1 Market Trends
  9.7.2 Market Forecast
9.8 Others
  9.8.1 Market Trends
  9.8.2 Market Forecast

10 MARKET BREAKUP BY REGION

10.1 North America
  10.1.1 United States
    10.1.1.1 Market Trends
    10.1.1.2 Market Forecast
  10.1.2 Canada
    10.1.2.1 Market Trends
    10.1.2.2 Market Forecast
10.2 Asia-Pacific
  10.2.1 China
    10.2.1.1 Market Trends
    10.2.1.2 Market Forecast
  10.2.2 Japan
    10.2.2.1 Market Trends
    10.2.2.2 Market Forecast
  10.2.3 India
    10.2.3.1 Market Trends
    10.2.3.2 Market Forecast
  10.2.4 South Korea
    10.2.4.1 Market Trends
    10.2.4.2 Market Forecast
  10.2.5 Australia
    10.2.5.1 Market Trends
    10.2.5.2 Market Forecast
  10.2.6 Indonesia
    10.2.6.1 Market Trends
    10.2.6.2 Market Forecast
  10.2.7 Others
    10.2.7.1 Market Trends
    10.2.7.2 Market Forecast
10.3 Europe
  10.3.1 Germany
    10.3.1.1 Market Trends
    10.3.1.2 Market Forecast
  10.3.2 France
    10.3.2.1 Market Trends
    10.3.2.2 Market Forecast
  10.3.3 United Kingdom
    10.3.3.1 Market Trends
    10.3.3.2 Market Forecast
  10.3.4 Italy
    10.3.4.1 Market Trends
    10.3.4.2 Market Forecast
  10.3.5 Spain
    10.3.5.1 Market Trends
    10.3.5.2 Market Forecast
  10.3.6 Russia
    10.3.6.1 Market Trends
    10.3.6.2 Market Forecast
  10.3.7 Others
    10.3.7.1 Market Trends
    10.3.7.2 Market Forecast
10.4 Latin America
  10.4.1 Brazil
    10.4.1.1 Market Trends
    10.4.1.2 Market Forecast
  10.4.2 Mexico
    10.4.2.1 Market Trends
    10.4.2.2 Market Forecast
  10.4.3 Others
    10.4.3.1 Market Trends
    10.4.3.2 Market Forecast
10.5 Middle East and Africa
  10.5.1 Market Trends
  10.5.2 Market Breakup by Country
  10.5.3 Market Forecast

11 SWOT ANALYSIS

11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats

12 VALUE CHAIN ANALYSIS

13 PORTERS FIVE FORCES ANALYSIS

13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes

14 PRICE ANALYSIS

15 COMPETITIVE LANDSCAPE

15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
  15.3.1 Bluefin Payment Systems LLC
    15.3.1.1 Company Overview
    15.3.1.2 Product Portfolio
  15.3.2 Broadcom Inc.
    15.3.2.1 Company Overview
    15.3.2.2 Product Portfolio
    15.3.2.3 Financials
    15.3.2.4 SWOT Analysis
  15.3.3 Cybersource (Visa Inc.)
    15.3.3.1 Company Overview
    15.3.3.2 Product Portfolio
    15.3.3.3 SWOT Analysis
  15.3.4 Elavon Inc. (U.S. Bancorp)
    15.3.4.1 Company Overview
    15.3.4.2 Product Portfolio
  15.3.5 Ingenico (Worldline)
    15.3.5.1 Company Overview
    15.3.5.2 Product Portfolio
    15.3.5.3 SWOT Analysis
  15.3.6 PayPal Holdings Inc.
    15.3.6.1 Company Overview
    15.3.6.2 Product Portfolio
    15.3.6.3 Financials
    15.3.6.4 SWOT Analysis
  15.3.7 SecurionPay
    15.3.7.1 Company Overview
    15.3.7.2 Product Portfolio
  15.3.8 Shift4 Payments
    15.3.8.1 Company Overview
    15.3.8.2 Product Portfolio
    15.3.8.3 Financials
  15.3.9 Signifyd
    15.3.9.1 Company Overview
    15.3.9.2 Product Portfolio
  15.3.10 SISA Information Security
    15.3.10.1 Company Overview
    15.3.10.2 Product Portfolio
  15.3.11 TokenEx
    15.3.11.1 Company Overview
    15.3.11.2 Product Portfolio
  15.3.12 VeriFone Inc.
    15.3.12.1 Company Overview
    15.3.12.2 Product Portfolio
    15.3.12.3 SWOT Analysis

LIST OF TABLES

Table 1: Global: Payment Security Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Payment Security Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 3: Global: Payment Security Market Forecast: Breakup by Platform (in Million US$), 2023-2028
Table 4: Global: Payment Security Market Forecast: Breakup by Enterprise Size (in Million US$), 2023-2028
Table 5: Global: Payment Security Market Forecast: Breakup by End User (in Million US$), 2023-2028
Table 6: Global: Payment Security Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Payment Security Market: Competitive Structure
Table 8: Global: Payment Security Market: Key Players


LIST OF FIGURES

Figure 1: Global: Payment Security Market: Major Drivers and Challenges
Figure 2: Global: Payment Security Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Payment Security Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Payment Security Market: Breakup by Component (in %), 2022
Figure 5: Global: Payment Security Market: Breakup by Platform (in %), 2022
Figure 6: Global: Payment Security Market: Breakup by Enterprise Size (in %), 2022
Figure 7: Global: Payment Security Market: Breakup by End User (in %), 2022
Figure 8: Global: Payment Security Market: Breakup by Region (in %), 2022
Figure 9: Global: Payment Security (Solution) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Payment Security (Solution) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Payment Security (Service) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Payment Security (Service) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Payment Security (Web-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Payment Security (Web-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Payment Security (POS-based) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Payment Security (POS-based) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Payment Security (Small and Medium-sized Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Payment Security (Small and Medium-sized Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Payment Security (Large Enterprises) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Payment Security (Large Enterprises) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Payment Security (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Payment Security (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Payment Security (Government and Utilities) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Payment Security (Government and Utilities) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Payment Security (IT and Telecom) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Payment Security (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Payment Security (Healthcare) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Payment Security (Healthcare) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Payment Security (Retail and E-Commerce) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Payment Security (Retail and E-Commerce) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Payment Security (Media and Entertainment) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Payment Security (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Payment Security (Travel and Hospitality) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Payment Security (Travel and Hospitality) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Payment Security (Other End Users) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Payment Security (Other End Users) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: North America: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: North America: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: United States: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: United States: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: Canada: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: Canada: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: Asia-Pacific: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: Asia-Pacific: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: China: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: China: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Japan: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Japan: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: India: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: India: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: South Korea: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: South Korea: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: Australia: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: Australia: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: Indonesia: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: Indonesia: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Others: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Others: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Europe: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Europe: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Germany: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Germany: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: France: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: France: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: United Kingdom: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: United Kingdom: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: Italy: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: Italy: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: Spain: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: Spain: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Russia: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Russia: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Others: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Others: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Latin America: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Latin America: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Brazil: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Brazil: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Mexico: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Mexico: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Others: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Others: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Middle East and Africa: Payment Security Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Middle East and Africa: Payment Security Market: Breakup by Country (in %), 2022
Figure 85: Middle East and Africa: Payment Security Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 86: Global: Payment Security Industry: SWOT Analysis
Figure 87: Global: Payment Security Industry: Value Chain Analysis
Figure 88: Global: Payment Security Industry: Porter's Five Forces Analysis


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