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The Research Report is Updated with 2020 Base Year, 2021 Estimated year and Forecast till 2030 with Market Insights.
With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2020 as base year, 2021 as estimated year and forecast to 2030. This will have market drivers, recovery rate in the market, insights and competitive analysis.
The global Payment Processing Solutions market has been witnessing a steady growth, which has been characterized by increasing number of technical innovations taking place in the information technology industry over the past few years. With Internet of Things (IoT) and Artificial Intelligence (AI) finding their combined use in several industrial and residential applications rapidly, the global Payment Processing Solutions market is anticipated to witness formidable growth over the next decade. Digital transformation has been taking place rapidly across several industries which is expected to have an impact on the growth of the Payment Processing Solutions market. It is also estimated that manufacturing industries may invest around USD 340 billion on digital transformation in 2019. Additionally, investments in robotic, autonomous and freight operations are anticipated to constitute an amount of USD 128 billion during the same year. The ICT and Telecom’s technology spending grew at around 5% in 2018 as compared to 2017. The U.S. Information Technology (IT) industry occupies around 30% market share globally in the tech sector holding the highest market share. Moreover, at least 72% of investment is predicted to be contributed by hardware and services segment. The global Payment Processing Solutions market is anticipated to register significant growth over the next 6-7 years, especially with transformation of business models happening owing to emergence of AI, IoT and Robotics. On the basis of region, North America, Europe and Asia Pacific are anticipated to become the leading telecom markets across the globe. We provide a comprehensive analysis of the scope of the market, including the yearly growth of the Payment Processing Solutions market by revenues, market segments and gain indicators that are driving the growth of the market. Our report also points out the dominant market trends and opportunities that are available, including market restraints that may impact the growth of the market. The global Payment Processing Solutions market is anticipated to register significant absolute $ opportunity value in 2027 as compared to the value attained in 2019.
The global Payment Processing Solutions market contains risk analysis that covers demand and supply risks that may affect the growth of the market, including providing various advanced insights and strategies by adopting a 360° approach, with a view to contact potential customers. Moreover, regression and correlation analysis that displays relationship between independent and dependent variables also form part of the report.
The introduction of new technologies such as 5G is estimated to create tremendous business opportunities and revenue streams for telecom industries, owing to improvement in speed and responsiveness of wireless networks. In addition to the same, the adoption of 5G by North American region is estimated to cross 45% by 2023, amidst growing demand for mobile data and increased video streaming services among the customers.
With Artificial Intelligence and Internet of Things (IoT) set to bring about several changes such as connected homes, connected cities or connected cars, it would pave the way for telecom operators to change the way they work in the future.
As per the statistics released by United Nations Conference on Trade & Development (UNCTAD), the database provides details on the percentage of total information and communication technology goods (including computers, peripheral devices, communication and consumer electronic components among other IT goods) exports which grew from 10.5% in 2012 to 11.5% in 2017. Hong Kong recorded the highest share of growth in ICT goods exports at 51.7% followed by Philippines (35.9%), Singapore (32%) and Malaysia (31%) respectively. Several efforts taken by countries such as China, Japan, United States of America, Germany, Netherlands, Korea and other ICT goods exporting nations, accompanied by growth of the global economy is anticipated to contribute to the growth of IT and Telecom sector.
According to statistics released by World Development Indicators (WDI), China holding about 19.38% of the world’s total GDP based on Purchasing Power Parity (PPP) in 2018 occupied the highest rank from among the list of nations. As of 2018, the world’s total GDP was estimated at around USD 130,834,632 million, out of which, the GDP (PPP) of China was estimated to be around USD 25,361,744 million, followed by United States of America and India at USD 2,049,409 million and USD 1,049,846 million respectively.
A separate section in the report highlights regional scenario in market which includes North America (further segregated into U.S. and Canada).
The report further includes a section on European region which is further segmented on a country/regional level including Germany, U.K., France, Italy, Spain, BENELUX, Netherlands, NORDIC, Poland, Hungary, Russia, Turkey, and Rest of Europe.
In the Asia Pacific Payment Processing Solutions market, the report studies China, India, South Korea, Indonesia, Malaysia, Japan, Australia, New Zealand and Rest of Asia Pacific. In the Latin America section, an in-depth analysis on Mexico, Brazil, Argentina and Rest of Latin America is covered. Middle East and Africa region have been further identified for the Payment Processing Solutions market demand and segregated into Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East and Africa.
A complete section on competitive landscape provides an understanding of the companies in current strategic report based upon various parameters which includes overview of the company, business strategy, major product offerings, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis. There is a separate section which has been provided on the market share of key players in this market, as well as the competitive positioning of the players.
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