Report Ocean has released a research study titled “Payment Orchestration Platform Market 2023 Forecast to 2032 Analysis by Market Trends.” This study offers precise economic forecasts, global assessments, and country-level insights. It provides a comprehensive view of the competitive market and includes an in-depth supply chain analysis to identify significant industry changes. The study explores the current market status, anticipated future growth, technological advancements, investment opportunities, market economics, and financial data. It thoroughly examines the market and offers insights based on a SWOT analysis of the industry.
Payment Orchestration Platform Market is valued approximately USD 927 million in 2021 and is anticipated to grow with a healthy growth rate of more than 24.5 % over the forecast period 2022-2028. Payment orchestration solutions empower businesses to leverage local relationships by allowing them to manage complicated payment methods, simplifying and easing the process. This entails allowing clients to pay in a variety of currencies and payment methods regardless of their location. POP streamlines back-end procedures, protects merchants from missed payments, and lowers operating expenses.
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During the projection period, the industry will be driven by the increasing prevalence of e-commerce platforms, as e-commerce vendors implement Payment Orchestration Platforms (POPs) to assure customer security and payment integrity. Furthermore, the growing use of cellphones and the internet adds considerably to the market’s growth. The increased use of smartphones for online transactions via digital payment systems is projected to drive industry development. Platforms for payment orchestration are supporting suppliers in expediting Buy Now Pay Later (BNPL) payments. For example, a JP Morgan Chase survey published in November 2021 discovered that approximately 25% of small and medium-sized enterprises in the United States had introduced new payment methods to attract clients. As a result, the growing use of payment orchestration platforms to build a digital payment ecosystem plays an important role in industry development. Cyber threats and fraudulent activities, on the other hand, hinder market expansion over the projection period of 2022-2028.
Major market player included in this report are:
CellPoint Digital
IXOLIT Group
Payoneer Inc.
APEXX Fintech Ltd.
Rebilly
Spreedly
Modo Payments
Akurateco
BNT Soft
aye4fin GmbH
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MARKET OVERVIEW
The Payment Orchestration Platform Market can be analyzed in depth with the following 10 points, offering insights into its significance within the fintech, e-commerce, and payments industries:
- Definition and Purpose: The Payment Orchestration Platform Market involves the use of specialized platforms to centralize, optimize, and manage various payment methods, processors, and gateways, allowing businesses to streamline and enhance their payment processes.
- Industry Applications: Payment orchestration platforms are crucial in industries such as e-commerce, retail, hospitality, and financial services, where efficient, secure, and diverse payment options are essential for customer satisfaction.
- Payment Aggregation: These platforms aggregate multiple payment methods, including credit cards, digital wallets, alternative payment methods, and even cryptocurrency, providing customers with a variety of options for making payments.
- Global Expansion: Payment orchestration platforms facilitate global expansion by offering access to local and international payment methods and helping businesses adapt to regional preferences.
- Fraud Prevention: Many platforms include fraud prevention and security features to protect businesses from payment fraud, ensuring that transactions are safe and secure.
- Scalability: Payment orchestration platforms are scalable, allowing businesses to accommodate increased transaction volumes and expand their operations without major changes to their payment infrastructure.
- Unified Dashboard: Businesses can access a unified dashboard for transaction monitoring, reconciliation, and reporting, simplifying financial management and decision-making.
- Market Growth: The Payment Orchestration Platform Market is expected to grow as businesses increasingly recognize the importance of providing a seamless and diverse payment experience to customers.
- Integration and API Capabilities: Platforms often offer integrations with various e-commerce and point-of-sale systems, as well as APIs for custom development, enabling businesses to tailor their payment processes to their specific needs.
- Evolving Payment Landscape: Payment orchestration platforms adapt to the evolving payment landscape by incorporating new payment methods and emerging technologies, ensuring businesses remain competitive in the changing market.
The detailed segments and sub-segment of the market are explained below:
By Type:
B2B
B2C
C2C
By Functionalities
Cross Border Transactions
Risk Management
Advanced Analytics & Reporting
By End-use
BFSI
E-commerce
Healthcare
Travel & Hospitality
Others
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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Table of Contents:
- Executive Summary
- Introduction
- Methodology
- Market Overview
- Market Analysis
- Market Size and Forecast
- Market Trends
- Market Dynamics
- Market Segmentation
- Competitive Landscape
- Competitive Scenario
- Key Players
- Regional Analysis
- Regional Market Overview
- Market Size and Forecast by Region
- Product/Service Analysis
- Product/Service Overview
- Market Size and Forecast by Product/Service
- End-User Analysis
- End-User Overview
- Market Size and Forecast by End-User
- Industry Structure
- Key Findings and Recommendations
- Conclusion
Market Research Objective:
To assess market size and growth potential:
- The objective is to determine the current market size, estimate its growth rate, and identify potential opportunities for market expansion.
To understand customer preferences and behavior:
- The objective is to gain insights into customer needs, preferences, buying behaviors, and decision-making processes to develop effective marketing strategies and product offerings.
To evaluate market competition:
- The objective is to assess the competitive landscape, identify key competitors, analyze their market share, strengths, weaknesses, and strategies to formulate a competitive positioning.
To explore new market segments:
- The objective is to identify and understand untapped or emerging market segments, assess their potential demand, and evaluate the feasibility of targeting these segments.
To assess brand perception and awareness:
- The objective is to measure brand awareness, perception, and loyalty among customers and target audiences to gauge the effectiveness of branding and marketing efforts.
To evaluate product or service satisfaction:
- The objective is to gather feedback from customers regarding their satisfaction levels with a specific product or service, identify areas for improvement, and enhance customer experience.
To analyze market trends and industry dynamics:
- The objective is to identify and analyze market trends, technological advancements, regulatory changes, and other factors influencing the industry’s dynamics to inform strategic decision-making.
To explore market entry opportunities:
- The objective is to identify potential markets for expansion, assess their attractiveness, understand entry barriers, and evaluate the feasibility of entering new markets.
To conduct market segmentation and targeting:
- The objective is to segment the market based on demographics, psychographics, or other relevant factors and develop targeted marketing strategies for each segment.
To assess pricing strategies:
- The objective is to evaluate pricing strategies in the market, analyze price sensitivity among customers, and identify optimal pricing levels for products or services.
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