Real-Time Payments Industry Is Predicted To Reach US$ 16 Bn In 2022, And Is Expected To Grow At A CAGR Of 33 % By the End of 2032
Real-Time Payments Market Analysis by Product Type (P2B, B2B, P2P, Others), by Component (Solutions, Services), by Deployment (Cloud, On-Premise), by Enterprise Size (Large Enterprises, SMEs), and Region- 2022 to 2032
ROCKVILLE, Md., March 02, 2022 (GLOBE NEWSWIRE) — Fact.MR foresees that the demand for real-time payments is projected to expand at a CAGR of 33% in terms of value during the period of assessment. Moreover, the report estimates that the market for real-time payments is likely to surpass US$ 277.09 Bn by end of 2032.
The market growth can be attributed to the high proliferation of smartphones and the adoption of cloud-based solutions for faster payments. In addition, the increasing demand from customers for quicker payment settlements and growing investments from financial institutes and governments to boost the adoption of real-time payment solutions are expected to accelerate the market growth.
As the transactional landscape acquires digital overtones, prominent end use industries are effectively leveraging the scope of real-time payment solutions to streamline financial operations, remarks a Fact.MR analyst.
Numerous fintech companies are making efforts to develop innovative solutions to ensure better security while making payments using bank cards and smart phones. Fintech companies are also striking partnerships with payment technology companies to improve their digital offerings and effectively meet the changing consumer demands.
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| Report Attributes | Values |
| Real-Time Payments Market Size (2022) | US$ 16 Bn |
| Sales Forecast for Real-Time Payments (2032) | US$ 277.09 Bn |
| Global Market Growth Rate (2022 to 2032) | 33% CAGR |
Competitive Landscape Of Real-Time Payments Market:
The competitive landscape of the real-time payments market is shaped by product innovation and strategic mergers & acquisitions. Some prominent manufacturers of real-time payments are ACI Worldwide, Inc.; Mastercard Inc.; Finastra; Visa Inc.; PayPal Holdings, Inc.; Fiserv, Inc.; Fidelity National Information Services, Inc. (FIS Inc.); Wirecard AG; Worldpay, Inc.; Temenos AG; Montran Corporation; and Volante Technologies Inc. Frontrunners are emphasizing capacity enhancements and global footprint expansion to leverage lucrative prospects in developing economies. Some notable developments are as follows:
In June 2021, Mastercard Incorporated announced the launch of PayPort+, a next-generation real-time payment gateway service, to provide payment service providers and financial institutions with flexible access to the U.K.’s real-time payment infrastructure. The PayPort+ solution is powered by Vocalink, a Mastercard company, and Form3, a technology partner.
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Demand Analysis of Real-Time Payments Market Outlook 2022-2032
The demand for real-time payment solutions has particularly increased in the wake of the COVID-19 outbreak. A myriad of unexpected issues, such as payment systems that involve physical touch, have prompted merchants and consumers to consider contactless payment solutions, such as smartphone-based apps designed to make contactless and real-time payments.
From 2015 to 2021, the global real-time payments market registered significant gains, reaching a valuation of US$ 12 Bn in 2021. As per Fact.MR’s analysis, the market expanded at a robust CAGR of 30% across the 2015-2021 historical period.
The incorporation of innovative technologies, such as Artificial Intelligence (AI) and IoT, in digital payment platforms, is also expected to contribute to the demand for real-time payment solutions. Considering these factors, the market is projected to witness high growth over the coming years, registering a CAGR of 33% to top US$ 277.09 Bn by 2032.
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Key Market Segments in Real-Time Payments Industry Research
By Payment Type
- P2B Real-Time Payments
- B2B Real-Time Payments
- P2P Real-Time Payments
- Other Real-Time Payment Types
By Component Outlook
- Real-Time Payment Solutions
- Payment Gateway
- Payment Processing
- Security & Fraud Management
- Advisory Services
- Integration & Implementation Services
- Managed Services
- Real-Time Payment Services
By Deployment
- Cloud-based Real-Time Payments
- On-premise Real-Time Payments
Enterprise Size
- Real-Time Payments for Large Enterprises
- Real-Time Payments for Small & Medium Enterprises (SMEs)
End Use Industry
- Real-Time Payments for Retail & E-commerce
- Real-Time Payments for BFSI
- Real-Time Payments for IT & Telecom
- Real-Time Payments for Travel & Tourism
- Real-Time Payments for Government
- Real-Time Payments for Healthcare
- Real-Time Payments for Energy & Utilities
- Real-Time Payments for Other End Use Industries
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Real-Time Payments Market Report Objectives:
- The Real-Time Payments market report also aims at providing detailed information about the major factors influencing the growth of the real time payments market (drivers, restraints, opportunities, and challenges).
- To strategically analyze the micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
- To study the complete value chain of Real-Time Payments market
- To analyze opportunities in the Real-Time Payments market for stakeholders by identifying the high-growth segments of the ecosystem
- To strategically profile key players and comprehensively analyze their Real-Time Payments market position in terms of ranking and core competencies, along with detailing competitive landscape for market leaders
- To analyze strategic approaches such as product launches, acquisitions, contracts, agreements, and partnerships in the real time payments market
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