Buy Now Pay Later Market Size to Grow by USD 41.83 Bn, 34% of Market Growth to Originate from North America – Technavio – QNT Press Release


NEW YORK, Oct. 31, 2022 /PRNewswire/ — The “Buy Now Pay Later Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026″ report has been added to Technavio’s offering. The market size is expected to grow by USD 41.83 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 29.36% during the forecast period, according to Technavio.

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Buy Now Pay Later Market End-user Outlook (Revenue, USD bn, 2021-2026)

  • Large enterprise – size and forecast 2021-2026
  • Small and medium enterprise – size and forecast 2021-2026

Buy Now Pay Later Market Geography Outlook (Revenue, USD bn, 2021-2026)

  • North America – size and forecast 2021-2026
  • Europe – size and forecast 2021-2026
  • APAC – size and forecast 2021-2026
  • South America – size and forecast 2021-2026
  • Middle East and Africa – size and forecast 2021-2026

Learn about the contribution of each segment summarized in concise infographics and thorough descriptions. View a FREE PDF Sample Report

Regional Analysis

North America will be the leading region with 34% of the market’s growth during the forecast period. The US is the key country for the buy now pay later market in North America. The growth of the market in the region is attributed to factors such as the increasing partnerships by market players. Moreover, market growth in this region will be slower than the growth of the market in EuropeAPAC and MEA.

Driver and Trend

The increasing adoption of online payment methods is driving the growth of the market. Mobile payment, debit cards, and credit cards are the primary digital payment technologies that provide individuals with advantages such as low transaction costs, quick fund transfers, and high payment security. The availability of high-speed internet access, a rise in smartphone adoption, and an increase in awareness about digital payment services encourage people to use online payments. Moreover, the adoption of BNPL technology and online payment methods across small- and medium-sized businesses in developing countries such as China, Japanand India are also expected to drive market growth.

Affordable and convenient payment service is a trend in the market. The BNPL payment method provides individuals with various benefits, including fast credit card fund transfer service at the point of sale platform, affordable and convenient payment services, and increased personal information security. This platform enables customers to make secure payments without having to swipe their debit cards. Some of its major benefits include boosting an individual’s credit score, reminders regarding payback, and digitally monitoring transaction details. Such advantages are expected to support the growth of the global BNPL market globally.

Technavio has identified key trends, drivers, and challenges in the market, which will help vendors improve their strategies to stay ahead of their competitors. Buy Now for detailed vendor information

Major Five Buy Now Pay Later Companies

  • Affirm Inc.
  • Afterpay US Services LLC
  • Amazon.com Inc.
  • APaylater Financials Pte. Ltd.
  • Grab Holdings Inc.
  • Hoolah Holdings Pte Ltd.
  • Klarna Bank AB
  • Laybuy Holdings Ltd.
  • Monzo Bank Ltd.
  • One97 Communications Ltd.
  • Pace Now Enterprise Sdn Bhd
  • PayPal Holdings Inc.
  • Perpay Inc.
  • Revolut Ltd.
  • Social Money Ltd.
  • Visa Inc.
  • Zip Co. Ltd.
  • Rely Pte Ltd
  • Mastercard Inc.
  • Flipkart Internet Pvt Ltd

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Payday Loans Market Growth, Size, Trends, Analysis Report by Type, Application, Region, and Segment Forecast 2022-2026: The growing awareness regarding the payday loan among the youth is driving the payday loans market growth. It is anticipated that one-third of people aged 25 to 34 have a college loan. Most young people are turning to the online payday loans market, which will fuel the growth of the market during the forecast period.

Buy Now Pay Later Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 29.36%

Market growth 2022-2026

USD 41.83 billion

Market structure

Fragmented

YoY growth (%)

27.92

Regional analysis

North America, Europe, APAC, South America, and Middle East and…

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