P2P Payment Market By Payment Method (Bank Transfers, Credit/Debit Cards, E-Wallets, Mobile Payment Apps), By Platform (Web-based, Mobile Applications), By Transaction Type (Domestic Transactions, International Transactions), By End-User (Individual Consumers, Small Businesses, Large Enterprises), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the P2P Payment Market was valued at USD 36.7 billion in 2023 and will surpass USD 73.3 billion by 2030; growing at a CAGR of 10.4% during 2024 - 2030.

Web-based Segment Accounted for the Largest Share of the Market

The web-based platform is among the largest modes of engagement in the P2P payment market, primarily due to its accessibility and convenience. Users can easily access P2P payment services through any internet-connected device without the need for specialized software installation. This platform allows users to send and receive money, manage transactions, and monitor their accounts through a web browser.

Web-based P2P payment platforms are particularly popular among users who prefer using desktop or laptop computers for financial transactions. They often offer a more comprehensive view of transactions, allowing users to navigate easily through their payment history and manage their accounts efficiently. The ease of integration with e-commerce websites also enhances the functionality of web-based platforms, allowing merchants to facilitate payments seamlessly. With robust security measures in place, such as two-factor authentication and encryption, web-based P2P payment platforms ensure that users can transact securely, fostering trust and encouraging wider adoption.

Asia-Pacific is Expected to Witness the Fastest Growth During the Forecast Period

The Asia-Pacific region continues to be the fastest-growing market for P2P payment platforms, driven by a surge in digital transformation and technological adoption across various countries. Rapid economic growth, a large and increasingly urban population, and the widespread availability of affordable internet services have created an ideal environment for the expansion of digital payment solutions.

Countries like China and India are at the forefront of this growth, with a significant number of consumers shifting from traditional banking methods to P2P payment platforms. The proliferation of internet-enabled devices and the growing acceptance of online transactions are key factors contributing to this trend. Moreover, government initiatives promoting digital payments and financial inclusion further support the growth of P2P payment services in the region. As businesses and consumers increasingly embrace digital solutions, the Asia-Pacific region is set to remain a powerhouse for innovation and adoption in the P2P payment market.

The report focuses on estimating the current market potential in terms of the total addressable market for all the segments, sub-segments, and regions. In the process, all the high-growth and upcoming technologies were identified and analyzed to measure their impact on the current and future market. The report also identifies the key stakeholders, their business gaps, and their purchasing behavior. This information is essential for developing effective marketing strategies and creating products or services that meet the needs of the target market. The report also covers a detailed analysis of the competitive landscape which includes major players, their recent developments, growth strategies, product benchmarking, and manufacturing operations among others. Also, brief insights on start-up ecosystem and emerging companies is also included as part of this report.

Report Objectives:

The report will help you answer some of the most critical questions in the P2P Payment Market. A few of them are as follows:

1. What are the key drivers, restraints, opportunities, and challenges influencing the market growth?
2. What are the prevailing technology trends in the P2P Payment Market?
3. What is the size of the P2P Payment Market based on segments, sub-segments, and regions?
4. What is the size of different market segments across key regions: North America, Europe, Asia-Pacific, Latin America, Middle East & Africa?
5. What are the market opportunities for stakeholders after analyzing key market trends?
6. Who are the leading market players and what are their market share and core competencies?
7. What is the degree of competition in the market and what are the key growth strategies adopted by leading players?
8. What is the competitive landscape of the market, including market share analysis, revenue analysis, and a ranking of key players?

Report Scope: