The global payment analytics software market was valued at $3,178.0 million in 2021 and is projected to reach $4,844.1 million by 2030, growing at a CAGR of 4.6% from 2022 to 2030. 
The payment analytics software market as a whole has been working to create and develop new technologies. The inclusion of sophisticated technology such as big data analytics, machine learning, as well as artificial intelligence is expected to benefit the global payment analytics software market. Furthermore, the emergence of cloud-based data analysis is broadening the opportunities in the payment analytics software market. The payment analytics software market is expected to grow as a result of favorable government efforts. As a result of digitization and ongoing technological advancements, accounts payable analytics technology will become more personalized, simple, and versatile.
Increased demand for quick and easy transaction services drives the global payment analytics software market. Mobile payment is the preferred method of making or receiving payments because it provides fast and convenient services. As a result, all kinds of companies are drawn to offer one‘s products and services via mobile devices. Telecom companies, super markets, and retailers are gradually planning to release mobile apps that allow customers to shop online from anywhere.
Privacy risks arise when data is combined with additional personal information. When businesses start collecting data profiles, the risk of identity theft rises, particularly if the data is not kept secure. Criminals can use location data to determine a person's current or anticipated future location, and if the data contains information that can be used to identify a person, they can use that information to target that person. As a result, before using data obtained through payment analytics software, organizations should thoroughly assess all legal and privacy issues.
The global payment analytics software market is segmented on the basis of type, enterprise size, and region. By type, the market is classified into cloud based and web based. By enterprise size, the analysis has been divided into large enterprise and small & medium enterprise. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include ProfitWell, BlueSnap, Databox, Payfirma, Yapstone, CashNotify, HiPay Intelligence, PaySketch, Revealytics, and RJMetrics.
The payment analytics software market as a whole has been working to create and develop new technologies. The inclusion of sophisticated technology such as big data analytics, machine learning, as well as artificial intelligence is expected to benefit the global payment analytics software market. Furthermore, the emergence of cloud-based data analysis is broadening the opportunities in the payment analytics software market. The payment analytics software market is expected to grow as a result of favorable government efforts. As a result of digitization and ongoing technological advancements, accounts payable analytics technology will become more personalized, simple, and versatile.
Increased demand for quick and easy transaction services drives the global payment analytics software market. Mobile payment is the preferred method of making or receiving payments because it provides fast and convenient services. As a result, all kinds of companies are drawn to offer one‘s products and services via mobile devices. Telecom companies, super markets, and retailers are gradually planning to release mobile apps that allow customers to shop online from anywhere.
Privacy risks arise when data is combined with additional personal information. When businesses start collecting data profiles, the risk of identity theft rises, particularly if the data is not kept secure. Criminals can use location data to determine a person's current or anticipated future location, and if the data contains information that can be used to identify a person, they can use that information to target that person. As a result, before using data obtained through payment analytics software, organizations should thoroughly assess all legal and privacy issues.
The global payment analytics software market is segmented on the basis of type, enterprise size, and region. By type, the market is classified into cloud based and web based. By enterprise size, the analysis has been divided into large enterprise and small & medium enterprise. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include ProfitWell, BlueSnap, Databox, Payfirma, Yapstone, CashNotify, HiPay Intelligence, PaySketch, Revealytics, and RJMetrics.
Key Market Segments
By Type
- Cloud based
- Web based
By Enterprise Size
- Large Enterprise
- Small and Medium Enterprise
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- U.K.
- Germany
- France
- Spain
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- UAE
- South Africa
- Rest of LAMEA
Key Market Players
- ProfitWell
- BlueSnap
- Databox
- Payfirma
- YapStone
- CashNotify
- HiPay Intelligence
- PaySketch
- Revealytics
- RJMetrics
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Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: PAYMENT ANALYTICS SOFTWARE MARKET, BY TYPE
CHAPTER 5: PAYMENT ANALYTICS SOFTWARE MARKET, BY ENTERPRISE SIZE
CHAPTER 6: PAYMENT ANALYTICS SOFTWARE MARKET, BY REGION
CHAPTER 7: COMPANY LANDSCAPE
CHAPTER 8: COMPANY PROFILES
List of Tables
List of Figures
Executive Summary
According to the report, titled, “Payment Analytics Software Market," the payment analytics software market was valued at $3.2 billion in 2021, and is estimated to reach $4.8 billion by 2030, growing at a CAGR of 4.6% from 2022 to 2030.Payment analytics software is the integration and processing of payment data from various sources such as credit and debit cards, mobile wallets, and money transfers. It can help businesses by providing insights into their revenues, payment trends, and customer shopping behavior if used correctly. The global payment analytics software and transaction landscape is rapidly changing as the number of enterprises and consumer proclivity for digital transformation grows, as does the proliferation of smartphones. Mobile phones, digital card payments, as well as point-of-sale (POS) at general merchandise connectors are driving payment analytics software market growth. Furthermore, the dramatic growth in smart phones across emerging economies, particularly in the Asia-Pacific region, is expected to have a positive impact on market growth.
The global payment analytics software industry is segmented on the basis of type, enterprise size, and region. By type, the market is classified into cloud based and web based. By enterprise size, the analysis has been divided into large enterprise and small & medium enterprise. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in this report include ProfitWell, BlueSnap, Databox, Payfirma, Yapstone, CashNotify, HiPay Intelligence, PaySketch, Revealytics, and RJMetrics.
The report focuses on the global payment analytics software size and the major products & applications, where payment analytics software are deployed. It further highlights numerous factors that influence the market growth, such as forecast, trends, drivers, restraints, opportunities, and roles of different key players that shape the market. The report focuses on the overall Payment analytics software share in various countries, presenting data in terms of both value and volume. The revenue is calculated by proliferating the volume by region-specific prices, considering the region-wise differentiated prices.
IMPACT OF COVID-19 ON THE GLOBAL PAYMENT ANALYTICS SOFTWARE MARKET
- The COVID-19 pandemic had a positive impact on payment analytics software market growth. The pandemic has increased customer preferences for contactless payments in order to reduce the number of touchpoints at the point of sale. According to EastWestBank statistics, contactless payment usage in the United States increased by 150% in 2020 compared to 2019. Furthermore, 87% of consumers preferred to shop in-store using contactless payment options.
- The COVID-19 outbreak has had a significant impact on economies and societies in a relatively short period of time. With workplaces, academic facilities, and manufacturing facilities having to close indefinitely, major athletics and events being postponed, and work-from-home and social distancing policies, companies are increasingly looking for technologies to help them get through these tough moments. Analytics professionals, business analytics professionals, and experts in more analysis tools such as AI and ML have been called upon to assist executives in making business decisions about how to react to the new business challenge posed by the COVID-19 outbreak. All such factors increase the adoption of payment analytics software market amid the pandemic.
Key Findings of the Study
- On the basis of type, the web based segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
- On the basis of enterprise size, the large enterprise segment emerged as the global leader in 2021 and is anticipated to be the largest market during the forecast period.
- On the basis of region, Asia-Pacific is projected to have the fastest growing market during the forecast period.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 230 |
| Published | June 2022 |
| Forecast Period | 2021 - 2030 |
| Estimated Market Value ( USD | $ 3178 million |
| Forecasted Market Value ( USD | $ 4844.1 million |
| Compound Annual Growth Rate | 4.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
