DUBLIN--(BUSINESS WIRE)--The "Buy Now Pay Later Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
Global Buy Now Pay Later Market Report Unveils Current and Projected Industry Developments and Insights
The global buy now, pay later market has entered a dynamic phase of expansion, marked by an unprecedented compound annual growth rate (CAGR) of 48.3%, catapulting its value from $156.58 billion in 2023 to an estimated $232.23 billion in 2024. Our latest market research publication provides an all-encompassing view of key trends, industry size, and opportunities that stakeholders can leverage for strategic decision-making.
Market Dynamics and Growth Projections
The staggering growth observed within the historic period reflects increasing consumer affinity for flexible payment solutions, prominence of online shopping, and rise in the adoption of digital wallets and mobile payments. With a continued upward trajectory, the market is set to embark on a path towards an impressive valuation of $1014.82 billion by 2028, advancing at a CAGR of 44.6%.
Regional Market Insights
North America currently leads the market, while the Asia-Pacific region has emerged as the fastest-growing segment. A deep dive into geographical market analysis reveals strategic opportunities across various economies, with an emphasis on shifting consumer behaviors and regulatory landscapes.
Innovations and Strategic Acquisitions
The landscape is characterized by the deployment of advanced technologies that are reshaping the consumer finance experience. Recent strategic acquisitions reflect a commitment to integrated solutions that provide seamless access to BNPL options both in-store and online. Companies are ambitiously pursuing initiatives to bring sophisticated, AI-based services to the forefront.
The market research offers essential insights and eagle-eye views on the long-term developments expected to define the contours of the buy now, pay later scene. From ground-breaking technological offerings to strategic market moves by major players, our report encompasses key elements that narrate the story of an industry poised for expansive growth.
The comprehensive analysis of the market, imbued with detailed segmentation and competitive breakdowns, sets a benchmark for understanding the global landscape of buy now, pay later services. This information serves as a vital tool for stakeholders seeking to navigate the complexities and capitalize on the growth prospects of a dynamic financial sector.
Envisioning the Future
As consumers worldwide increasingly seek flexible financial tools, the buy now, pay later market is expected to maintain its momentum, driven by the pursuit for technological innovation and customer-centric service enhancements. Stakeholders can expect to find in this report a blueprint for navigating the future of consumer financing, where value-driven transactions reign supreme.
Report Highlights
- Surge in Online Payment Adoption: A major driver for market growth has been the surge in online payment adoptions. With consumers readily embracing the convenience offered by buy now, pay later options for both online and offline purchases, the facilitation of instant payments even for small-ticket items has propelled the industry forward.
- E-commerce Industry Fuelling BNPL Service Demand: The flourishing e-commerce sector is another catalyst for the burgeoning demand for buy now, pay later services. As e-commerce sales are projected to grow by 10.4% in 2023, the convenience and added purchasing power afforded by BNPL services are invigorating online retail sales.
- Technological Advancements: Key industry players have been instrumental in introducing innovative buy now, pay later solutions, aiming to enhance digital service offerings and retain market competitiveness.
Key Topics Covered:
1. Executive Summary
2. Buy Now Pay Later Market Characteristics
3. Buy Now Pay Later Market Trends And Strategies
4. Buy Now Pay Later Market - Macro Economic Scenario
4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market
5. Global Buy Now Pay Later Market Size and Growth
5.1. Global Buy Now Pay Later Market Drivers and Restraints
5.1.1. Drivers Of The Market
5.1.2. Restraints Of The Market
5.2. Global Buy Now Pay Later Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Buy Now Pay Later Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)
6. Buy Now Pay Later Market Segmentation
6.1. Global Buy Now Pay Later Market, Segmentation By Channel, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Online
- POS
6.2. Global Buy Now Pay Later Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Large Enterprises
- Small and Medium Enterprises
6.3. Global Buy Now Pay Later Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
- Consumer Electronics
- Fashion and Garment
- Healthcare
- Leisure and Entertainment
- Retail
- Others End-User
7. Buy Now Pay Later Market Regional And Country Analysis
7.1. Global Buy Now Pay Later Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Buy Now Pay Later Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
A selection of companies mentioned in this report includes
- Paytm Postpaid
- PayPal Holdings Inc.
- Affirm Inc.
- Klarna Inc.
- Splitit Ltd.
- Sezzle Inc.
- Perpay Inc.
- Openpay
- Quadpay Inc.
- LatitudePay
- Laybuy Group Holdings Limited
- Payl8r (Social Money Ltd. )
- ePayLater
- Zest Money
- Lazypay
- Afterpay Ltd.
- Zip Co Ltd.
- FuturePay Inc.
- Bread Finance
- PayBright
- Zebit Inc.
- Uplift
- ViaBill
- Sunbit
- Katapult
- Credova
- Acima Credit
- Progressive Leasing
- Flexiti Financial
- LendCare
- PayTomorrow
- Payzer
- QuickFee
- SmartPay Leasing
- SplitPay
- Zibby
For more information about this report visit https://www.researchandmarkets.com/r/sukciw
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