Real-Time Payments Market to Reach $123.0 Bn, at 24.5% CAGR, by 2031, Globally: Allied Market Research

The growth of the global real-time payments market is driven by advantages offered by real-time payments such as real-time processing of transactions, payment device flexibility, and increase in convenience along with huge adoption of real-time payments among merchants and surge in usage of smartphones and rapid connectivity.

Wilmington, Delaware, Nov. 02, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, ‘Real-Time Payments Market by Component (Solution, Services), by Deployment Mode (On-premises, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises (SMEs)), by Industry Vertical (BFSI, IT and Telecommunications, Retail and e-commerce, Government, Energy and Utilities, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.‘ According to the report, the global real-time payments industry registered $13.8 billion in 2021, and is anticipated to hit $123.0 billion by 2031, manifesting a CAGR of 24.5% from 2022 to 2031. 

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Prime Determinants of Growth 

The growth of the global real-time payments market is driven by advantages offered by real-time payments such as real-time processing of transactions, payment device flexibility, and increase in convenience along with huge adoption of real-time payments among merchants and surge in usage of smartphones and rapid connectivity.  However, the surge in data thefts and difficulties related to the replacement process of point-of-sale (POS) terminals hamper the market growth. On the other hand, the surge in tech-savvy population, the expansion of offerings by real-time payment providers, and increase in initiatives toward digitized payments create lucrative opportunities for the market in the coming years. 

(We are providing report as per your research requirement, including the Latest Industry Insight’s Evolution, Potential and COVID-19 Impact Analysis)     

193 – Tables      

69 – Charts      

414 – Pages    

Scope of the Report– 

The Solution Segment to Maintain its Lead Position during the Forecast Period 

On the basis of component, the solution segment garnered the largest market share in 2021, accounting for around three-fourths of the global real-time payments market, and is projected to maintain its lead position during the forecast period. This is attributed to utilization of real-time payments solutions in enhancing connectivity, offering quick processing payments, and offering a better user experience. On the other hand, the services segment is projected to register the largest CAGR of 29.0% from 2022 to 2031. This is because real time payment services provide outsourcing for processing transactions to handle traditional payments efficiently, which, in turn, increases customer loyalty and improves public service quality. 

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The BFSI segment to continue its highest contribution throughout the forecast period 

On the basis of industry vertical, the BFSI segment contributed for the largest market share in 2021, holding nearly one-fourth of the global real-time payments market, and is expected to continue its highest contribution throughout the forecast period. This is attributed to ease in management of money movement straight from a single dashboard by banks & financial companies. However, the retail and e-commerce segment is estimated to garner the fastest CAGR of 27.4% from 2022 to 2031. This is owing to management of complete end-to-end process, a surge in adoption by retail merchants, and ease in collecting customer payments, receiving subscription payments, and processing instant refunds. 

The On-Premises Segment contributed to the highest market share in 2021 

On the basis of deployment mode, the on-premises segment contributed to the highest market share in 2021, holding around two-thirds of the global real-time payments market. This is due to offering replacement for the legacy system of processing payments, help in bringing their payment ecosystem onto their own servers, and moving real-time payments in-house. However, the cloud segment is estimated to manifest the highest CAGR of 31.0% from 2022 to 2031. This is owing to convenience and versatility provided by a cloud-based system for executing payments from anywhere by the customers. 

North America held the largest market share in 2021 

On the basis of region, North America held the largest market share in 2021, accounting for nearly two-fifths of the global real-time payments market. Rapid adoption of mobile wallets such as Apple Pay and Samsung Pay and surge in trend of contactless payment during the pandemic drives the growth of the region. However, Asia-Pacific is estimated to witness the fastest CAGR of 27.4% from 2022 to 2031, due to adoption of a broader range of payments such as NFC payments, QR codes, tap to pay, and others. 

Leading Market Players 

• Financial Software & Systems Pvt. Ltd. 
• Mastercard, Inc. 
• Microsoft Corporation 
• TCS 
• Temenos AG 
• Visa Inc. 
• Volante Technologies Inc. 
• Sila 
• Rapyd 
• ACI Worldwide, Inc. 
• Cognizant 
• FIS Inc. 
• Mindgate Solutions Private Limited 
• Montran Corp. 
• PayPal Holdings, Inc. 
• Finastra, Fiserv, Inc. 

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Key benefits for stakeholders 

• The study provides in-depth analysis of the global real-time payments market growth along with current trends and future estimations to illustrate the imminent investment pockets. 
• Information about key drivers, restrains, and opportunities and their impact analysis on the global real-time payments market share are provided in the report. 
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the real-time payments market opportunity. 
• An extensive analysis of the key segments of the industry helps to understand the real-time payments market trends. 
• The quantitative analysis of the global real-time payments market forecast from 2021 to 2031 is provided to determine the market potential. 

Real-Time Payments Market Report Highlights 

Aspects Details  

By Component 

• Solution 
• Services 
• Professional Services 
• Managed Services 

By Deployment Mode 

• On-premises 
• Cloud 

By Enterprise Size 

• Large Enterprises 
• Small and Medium-sized Enterprises (SMEs) 

By Industry Vertical 

• BFSI 
• IT and Telecommunications 
• Retail and e-commerce 
• Government 
• Energy and Utilities 
• Others 

By Region 

• North America (U.S., Canada) 
• Europe (UK, Germany, France, Italy, Spain, Netherlands, Rest Of Europe) 
• Asia-Pacific (China, India, Japan, Australia, Singapore, Rest Of Asia-Pacific) 
• LAMEA (Latin America, Middle East, Africa) 

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Regional Reports:  

LAMEA Real-Time Payments Market :  https://www.alliedmarketresearch.com/lamea-real-time-payments-market-A264555 

Asia-Pacific Real-Time Payments Market : https://www.alliedmarketresearch.com/asia-pacific-real-time-payments-market-A264549  

U.S. Real-Time Payments Market  : https://www.alliedmarketresearch.com/u-s-real-time-payments-market-A264540  

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