Jayashree rathod Submitted 2019-02-04 07:44:03 Payment Security market was around US$ 26.18 Bn in 2017 and is expected to grow at a CAGR of around 12.24% in the forecast period of 2018-2026. Payment through the card is going through an upsurge as more number of people are opting for cashless payment that has and require less time. Now for the payment Wholesale Matt Barnes Jersey , security has been a key challenge as more number of people are opting for cloud based or online transactions, thereby making way for huge growth in the payment security market.
Increased adoption of digital payment modes, adherence towards the PCI DSS guidelines, and rise in fraudulent activities on the eCommerce platform are some of the major drivers boosting the market growth of payment security market. However, it is the complexities of internet-based transactions giving loopholes for the sophisticated cyber-attacks that hassle-free become a major restraint for the market growth.
Payment security services are deployed across numerous industry verticals Wholesale Kevin Durant Jersey , including retail; IT and telecom; healthcare; education; media and entertainment; and others. The education vertical is expected to grow at the highest rate during the current forecast period. However, the retail vertical is cloud-based to have the largest market share as retailers are using different ways such as offers and discounts to attract customers for online shopping. Therefore, the adoption of payment security solutions is increasing especially in the retail sector.
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The payment security market internet-based by component, organization size, vertical Wholesale Stephen Curry Jersey , and region. However, the small and medium-sized enterprises (SMEs) segment is expected to grow at a higher CAGR during the forecast period, as SMEs are mainly adopting payment security solutions to protect the customer-sensitive bank account data from network vulnerabilities and attacks. North America is estimated to hold the largest market size in 2018. The North American region, is expected to be the largest revenue-generating region for payment security service vendors in 2017. In the developed economies such as US and Canada, there is a high focus on innovations resulting from Research and Development (R&D) and payment security technologies.
The key players of Payment Security market include Braintree (Illinois Cheap Willie Green Jersey , US), CyberSource Corporation (California, US), Elavon (Georgia, US) Cheap Zaza Pachulia Jersey , Index (Nevada, US), Payment Security Market scope:-
Payment Security Market, By Component
鈥?Solutions 鈥?Services o Professional o Managed Payment Security Market, By Organization Size
鈥?Large Enterprises 鈥?Small & Medium Enterprises Payment Security Market Cheap Omri Casspi Jersey , By Vertical
鈥?Retail 鈥?Media and Entertainment 鈥?Travel and Hospitality 鈥?IT and Telecom 鈥?Healthcare 鈥?Education 鈥?Others Payment Security Market, By Geography
鈥?North America 鈥?Europe 鈥?Asia-Pacific 鈥?Middle East & Africa 鈥?Latin America Key Players operating in the Payment Security Market:
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