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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)

Published: November, 2024  
|   Report ID: TMT3994  
|   Technology, Media, and Telecommunications

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.

P2P Payment Market -  share by platfor

 

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.

P2P Payment Market  - share by region

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:

Report Features

Description

Market Size (2023)

USD 36.7 billion

Forecasted Value (2030)

USD 73.3 billion

CAGR (2024 – 2030)

10.4%

Base Year for Estimation

2023

Historic Year

2022

Forecast Period

2024 – 2030

Report Coverage

Market Forecast, Market Dynamics, Competitive Landscape, Recent Developments

Segments Covered

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), and By End-User (Individual Consumers, Small Businesses, Large Enterprises)

Regional Analysis

North America (US, Canada, Mexico), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, South Korea, Australia, India, and Rest of Asia-Pacific), Latin America (Brazil, Argentina, and Rest of Latin America), Middle East & Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)

Customization Scope

Customization for segments, region/country-level will be provided. Moreover, additional customization can be done based on the requirements

1. Introduction

   1.1. Market Definition

   1.2. Scope of the Study

   1.3. Research Assumptions

   1.4. Study Limitations

2. Research Methodology

   2.1. Research Approach

      2.1.1. Top-Down Method

      2.1.2. Bottom-Up Method

      2.1.3. Factor Impact Analysis

  2.2. Insights & Data Collection Process

      2.2.1. Secondary Research

      2.2.2. Primary Research

   2.3. Data Mining Process

      2.3.1. Data Analysis

      2.3.2. Data Validation and Revalidation

      2.3.3. Data Triangulation

3. Executive Summary

   3.1. Major Markets & Segments

   3.2. Highest Growing Regions and Respective Countries

   3.3. Impact of Growth Drivers & Inhibitors

   3.4. Regulatory Overview by Country

4. P2P Payment Market, by Payment Method (Market Size & Forecast: USD Million, 2022 – 2030)

   4.1. Bank Transfers

   4.2. Credit/Debit Cards

   4.3. E-Wallets

   4.4. Mobile Payment Apps

   4.5. Others

5. P2P Payment Market, by Platform (Market Size & Forecast: USD Million, 2022 – 2030)

   5.1. Web-based

   5.2. Mobile Applications

6. P2P Payment Market, by Transaction Type (Market Size & Forecast: USD Million, 2022 – 2030)

   6.1. Domestic Transactions

   6.2. International Transactions

7. P2P Payment Market, by End-User (Market Size & Forecast: USD Million, 2022 – 2030)

   7.1. Individual Consumers

   7.2. Small Businesses

   7.3. Large Enterprises

8. Regional Analysis (Market Size & Forecast: USD Million, 2022 – 2030)

   8.1. Regional Overview

   8.2. North America

      8.2.1. Regional Trends & Growth Drivers

      8.2.2. Barriers & Challenges

      8.2.3. Opportunities

      8.2.4. Factor Impact Analysis

      8.2.5. Technology Trends

      8.2.6. North America P2P Payment Market, by Payment Method

      8.2.7. North America P2P Payment Market, by Platform

      8.2.8. North America P2P Payment Market, by Transaction Type

      8.2.9. North America P2P Payment Market, by End-User

      8.2.10. By Country

         8.2.10.1. US

               8.2.10.1.1. US P2P Payment Market, by Payment Method

               8.2.10.1.2. US P2P Payment Market, by Platform

               8.2.10.1.3. US P2P Payment Market, by Transaction Type

               8.2.10.1.4. US P2P Payment Market, by End-User

         8.2.10.2. Canada

         8.2.10.3. Mexico

         *Similar segmentation will be provided for each region and country

   8.3. Europe

   8.4. Asia-Pacific

   8.5. Latin America

   8.6. Middle East & Africa

9. Competitive Landscape

   9.1. Overview of the Key Players

   9.2. Competitive Ecosystem

      9.2.1. Level of Fragmentation

      9.2.2. Market Consolidation

      9.2.3. Product Innovation

   9.3. Company Share Analysis

   9.4. Company Benchmarking Matrix

      9.4.1. Strategic Overview

      9.4.2. Product Innovations

   9.5. Start-up Ecosystem

   9.6. Strategic Competitive Insights/ Customer Imperatives

   9.7. ESG Matrix/ Sustainability Matrix

   9.8. Manufacturing Network

      9.8.1. Locations

      9.8.2. Supply Chain and Logistics

      9.8.3. Product Flexibility/Customization

      9.8.4. Digital Transformation and Connectivity

      9.8.5. Environmental and Regulatory Compliance

   9.9. Technology Readiness Level Matrix

   9.10. Technology Maturity Curve

   9.11. Buying Criteria

10. Company Profiles

   10.1. Ant Group

      10.1.1. Company Overview

      10.1.2. Company Financials

      10.1.3. Product/Service Portfolio

      10.1.4. Recent Developments

      10.1.5. IMR Analysis

      *Similar information will be provided for other companies 

   10.2. Apple

   10.3. Block, Inc.

   10.4. Google

   10.5. PayPal

   10.6. Revolut

   10.7. Samsung

   10.8. Stripe, Inc.

   10.9. Tencent

   10.10. Zelle

11. Appendix

 

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A comprehensive market research approach was employed to gather and analyze data on the P2P Payment Market. In the process, the analysis was also done to analyze the parent market and relevant adjacencies to measure the impact of them on the P2P Payment Market. The research methodology encompassed both secondary and primary research techniques, ensuring the accuracy and credibility of the findings.

Research Approach - P2P Payment Market

Secondary Research

Secondary research involved a thorough review of pertinent industry reports, journals, articles, and publications. Additionally, annual reports, press releases, and investor presentations of industry players were scrutinized to gain insights into their market positioning and strategies.

Primary Research

Primary research involved conducting in-depth interviews with industry experts, stakeholders, and market participants across the P2P Payment ecosystem. The primary research objectives included:

  • Validating findings and assumptions derived from secondary research
  • Gathering qualitative and quantitative data on market trends, drivers, and challenges
  • Understanding the demand-side dynamics, encompassing end-users, component manufacturers, facility providers, and service providers
  • Assessing the supply-side landscape, including technological advancements and recent developments

Market Size Assessment

A combination of top-down and bottom-up approaches was utilized to analyze the overall size of the P2P Payment Market. These methods were also employed to assess the size of various subsegments within the market. The market size assessment methodology encompassed the following steps:

  1. Identification of key industry players and relevant revenues through extensive secondary research
  2. Determination of the industry's supply chain and market size, in terms of value, through primary and secondary research processes
  3. Calculation of percentage shares, splits, and breakdowns using secondary sources and verification through primary sources

Bottom Up and Top Down - P2P Payment Market

Data Triangulation

To ensure the accuracy and reliability of the market size, data triangulation was implemented. This involved cross-referencing data from various sources, including demand and supply side factors, market trends, and expert opinions. Additionally, top-down and bottom-up approaches were employed to validate the market size assessment.

 

 

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