Global Payment Security Market to Grow at 14% CAGR during 2017-2022by David Johnson Top Market Research Company in US
Increasing number of fraudulent payments and cyber attacks coupled with government initiatives, expanding smartphone market and growing number of payment modes to drive the global payment security market through 2022
According to report released by TechSci Research, “Global Payment Security Market By Type, By Component, By Solution, By End User, By Region, Competition Forecast & Opportunities, 2012 – 2022”, the global payment security market is forecast to grow at a CAGR of around 14% during 2017-2022. Growing preference for digital payments, rising fraudulent activities in payments, increasing number of payment modes, and government initiatives towards securing payments and bringing in laws for enhancing data protection are some of the key factors expected to drive the global payment security market in the coming years. Moreover, stringent PCI DSS guidelines and growing smartphone and e-commerce market are anticipated to boost demand for payment security solutions and services across the globe.
Browse 108 market data Tables and 96 Figures spread through 196 Pages and an in-depth TOC on "Global Payment Security Market" https://www.techsciresearch.com/report/global-payment-security-market/1641.html
During the forecast period, Asia-Pacific is expected to emerge as the fastest growing region in the payment security market, globally, on account of increasing number of smartphones, rapid adoption of digital payment modes by numerous governments and high adoption rate of different technologies across its major economies such as China, Singapore and India. In 2017, ‘Point of Sale’ grabbed a larger market share compared to ‘Mobile’ and ‘Web’, owing to its huge usage in developed countries and rising adoption in emerging economies, especially in the Asian countries such as India. Tokenization is expected to be the fastest growing solution in the global payment security market, as it encodes the payment data into randomly generated tokens, which provide additional security to the payment data.
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“Implementation of payment security solutions and services across various end use verticals such as BFSI, retail, hospitality & transportation, etc., is increasing at a robust pace, owing to growing volume of payments done via digital means such as credit/debit cards, mobile phones, etc., in these sectors. Not only payment security adoption is enabling these verticals to minimize payment data theft, but also in gaining consumer confidence. This, in addition to, emergence of next-generation payment systems and increasing number of government initiatives towards securing digital payments is poised to drive the market in the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Payment Security Market By Type, By Component, By Solution, By End User, By Region, Competition Forecast & Opportunities, 2012 – 2022” has evaluated the future growth potential of the payment security market and has also provides the statistics and information on market structure, size, share and trends. The report intends to provide cutting-edge market intelligence and help decision makers to take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities existing in the market.
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Created on Apr 16th 2018 04:22. Viewed 1,125 times.