Payment Orchestration Platform Market Latest Trends, Industry Growth And Forecast To 2030: Grand View Research Inc.

 Payment Orchestration Platform Market Growth & Trends

The global payment orchestration platform market size is expected to reach USD 6.52 billion by 2030, expanding at a CAGR of 24.7% from 2023 to 2030, according to a new study conducted by Grand View Research, Inc. The growing use of smartphones for making payments is anticipated to drive industry growth. Moreover, consumer awareness about multiple payment options and increasing expectations for secure and fast payments contributes significantly to industry development.

According to PYMNTS.com, 27% of small & medium business units across the U.S. have adopted contactless payment methods, and 19% of small & medium businesses have planned to shift towards an e-commerce business model fully or partially. Thus, such shifts require back-end support to manage the sales and the payments to ensure a smooth customer experience throughout the purchase process. Hence, such business shifts are expected to increase the adoption of payment orchestration platforms across various industries and fuel the market’s growth over the forecast period.

Adopting Payment Orchestration Platforms (POPs) offers numerous advantages, such as 24/7 payment services and operational cost-efficiency. Moreover, payment orchestration platform companies are involved in mergers, acquisitions, and partnerships to gain a competitive edge. Companies are also entering into a strategic partnership to develop the payment orchestration platform, thereby driving the growth of the market.

The pandemic has contributed positively to industry growth. Major hospitals and other essential service providers have shifted from traditional payment terminals to online payment methods. Thus, increasing digitalization and the introduction of tech-based payment terminals by key providers are projected to drive the industry's growth.

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Payment Orchestration Platform Market Report Highlights

• The B2C segment is expected to witness the fastest growth over the forecast period. The introduction of multiple payment platforms aggressively by major payment orchestration providers and the adoption of these platforms by e-commerce merchants worldwide is expected to drive the growth of the segment
• The advanced analytics & reporting segment is expected to witness the fastest growth over the forecast period. The rising demand for AI-enabled payment platforms and centralized dashboards to increase business productivity is anticipated to drive segment growth
• The e-commercesegment is anticipated to witness the fastest growth over the period. Changing customer expectations and behavior toward online shopping is leading merchants to opt for payment orchestration platforms, which is expected to propel the segment growth
• The Asia Pacific regional market is expected to register rapid growth during the forecast period. The increasing migration of various businesses to this region and the growing e-commerce market is boosting the regional market growth

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Payment Orchestration Platform Market Segmentation

Grand View Research has segmented the global payment orchestration platform market based on type, functionality, end-use, and region:

Payment Orchestration Platform Type Outlook (Revenue, USD Billion, 2017 - 2030)

• B2B
• B2C
• C2C

Payment Orchestration Platform Functionality Outlook (Revenue, USD Billion, 2017 - 2030)

• Cross Border Transactions
• Risk Management
• Advanced Analytics & Reporting

Payment Orchestration Platform End-use Outlook (Revenue, USD Billion, 2017 - 2030)

• BFSI
• E-commerce
• Healthcare
• Travel & Hospitality
• Others

Payment Orchestration Platform Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America
  • US.
  • Canada
• Europe
  • Germany
  • UK
  • France
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Australia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa (MEA)
  • UAE
  • Kingdom Of Saudi Arabia (KSA)
  • South Africa

List of Key Players in the Payment Orchestration Platform Market

• CellPoint Digital
• IXOLIT Group
• Payoneer Inc.
• APEXX Fintech Limited
• Rebilly
• Spreedly
• Modo Payments
• Akurateco
• BNT Soft
• Aye4fin GmbH

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.