Market revenue in 2023 | USD 7,782.3 million |
Market revenue in 2030 | USD 31,066.7 million |
Growth rate | 21.9% (CAGR from 2023 to 2030) |
Largest segment | Hosted |
Fastest growing segment | Hosted |
Historical data covered | 2017 - 2022 |
Base year for estimation | 2023 |
Forecast period covered | 2024 - 2030 |
Quantitative units | Revenue in USD million |
Market segmentation | Hosted, Non-hosted |
Key market players worldwide | Adyen NV, Amazon.com Inc, PayPal Holdings Inc, Francisco Partners, JPMorgan Chase & Co |
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The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to payment gateway market will help companies and investors design strategic landscapes.
Hosted was the largest segment with a revenue share of 58% in 2023. Horizon Databook has segmented the Europe payment gateway market based on hosted, non-hosted covering the revenue growth of each sub-segment from 2017 to 2030.
In Europe, the banking industry is witnessing a continuous decline in the number of bank branches in line with the growing preference for digital banking solutions among customers. According to the statistics provided by the European Banking Federation, in December 2020, the number of banking branches dropped by 31% in 2020 as compared to the number noted in 2008.
The continued digitalization in the European banking industry is expected to create new opportunities for the growth of the market over the forecast period. The growing preference for cashless payment methods across the U.K. is driving the growth of the market. According to the statistics provided by the European Banking Federation, in December 2020, debit cards are expected to account for almost 50% of the total payments in the U.K. by 2024 as cash-based payments continue to decline in the country.
In Germany, several merchants are making efforts to expand their online payment offerings, thereby driving the growth of the market in the country. For instance, in October 2018, Klarna, a payment service provider, announced a partnership with Shopify, an e-commerce company. The partnership envisaged Shopify enabling its Germany based merchants to provide a superior customer experience by allowing customers to choose their preferred payment method.
Horizon Databook provides a detailed overview of continent-level data and insights on the Europe payment gateway market , including forecasts for subscribers. This continent databook contains high-level insights into Europe payment gateway market from 2017 to 2030, including revenue numbers, major trends, and company profiles.
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