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The “Payment Security Market by Offering (Solution, Services), Platform (Web, PoS), Payment Mode (Cards, Digi Wallets, Internet Banking, PoS), Vertical (Retail, Travel, Healthcare, BFSI, IT & Telecom, Media), Organization Size, and Geography – Global Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The global payment security market is expected to reach $54.1 billion by 2028, growing at a CAGR of 16.5% during the forecast period of 2021-2028.
The growth of this market is attributed to the increasing adoption of digital payment modes, the rising need to adhere to PCI DSS guidelines, and increasing cyber-attacks on digital payments.
In addition, the rising demand for advanced payment security solutions for digital e-commerce and the increasing use of payment applications across different industry verticals offers significant opportunities for the growth of the digital payment market. However, the lack of trust in online banking restrains the growth of this market to a certain extend.
Based on offering, the solution segment commanded the largest share of the global payment security market in 2021 and is expected to grow at the fastest CAGR during the forecast period. The rising demand for advanced payment security solutions for digital e-commerce and the increasing use of payment applications across different industry verticals is driving the growth of this segment.
In addition, there is a growing demand for payment security solutions as it enables …
Full story available on Benzinga.com
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