SAN FRANCISCO, Oct. 7, 2021 /PRNewswire/ — A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled “E-commerce Payment – Global Market Trajectory & Analytics”. The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 8; Released: April 2021
Executive Pool: 631
Companies: 29 – Players covered include Alibaba Group Holding Ltd.; Alipay; Amazon Payments, Inc.; Amazon.com Inc.; American Express Company; Apple Inc.; Capital One Financial Corp.; CCBill, LLC; MasterCard Incorporated; PayPal Holdings, Inc.; Stripe Inc.; The OLB Group Inc.; UnionPay International Co., Ltd.; Visa, Inc.; WePay Inc. and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Credit Cards, Debit Card, Digital Payment/E-Wallet, Net Banking, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global E-commerce Payment Market to Reach $54.9 Billion by 2026
Amid the COVID-19 crisis, the global market for E-commerce Payment estimated at US$27.8 Billion in the year 2020, is projected to reach a revised size of US$54.9 Billion by 2026, growing at a CAGR of 11.8% over the analysis period. Credit Cards, one of the segments analyzed in the report, is projected to record a 10.1% CAGR and reach US$19.5 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Debit Card segment is readjusted to a revised 10.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at $8.4 Billion in 2021, While China is Forecast to Reach $11.4 Billion by 2026
The E-commerce Payment market in the U.S. is estimated at US$8.4 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$11.4 Billion by the year 2026 trailing a CAGR of 15.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 8.4% and 10.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 9.2% CAGR.
Digital Payment/E-Wallet Segment to Reach US$17.8 Billion by the year 2026
In the global Digital Payment/E-Wallet segment, USA, Canada, Japan, China and Europe will drive the 13.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$5.9 Billion in the year 2020 will reach a projected size of US$14.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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SOURCE Global Industry Analysts, Inc.