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Payment Orchestration Platform Market - Forecast(2024 - 2030)
Payment Orchestration Platform Market Overview:
The Payment Orchestration Platform Market size is estimated to reach $6 billion by 2030, growing at a CAGR of 23.2% during the forecast period 2023-2030. Increasing adoption of digital payments and growing adoption of cloud-based payment orchestration platform (POP) solutions are propelling the Payment Orchestration Platform Market growth.
Additionally, payment orchestration platform solutions are increasingly being integrated with other payment technologies such as blockchain and cryptocurrency. This allows merchants to offer more payment options to their customers and enables the use of new payment methods creating substantial growth opportunities for the Payment Orchestration Platform Market.
Market Snapshot:
Payment Orchestration Platform Market - Report Coverage:
The “Payment Orchestration Platform Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Payment Orchestration Platform Market.
COVID-19 / Ukraine Crisis - Impact Analysis:
The Covid-19 pandemic has accelerated the shift towards digital payments and e-commerce, as more consumers and businesses have moved online to avoid in-person interactions driving demand for payment orchestration platforms that can help businesses manage their payments more efficiently and securely in a rapidly changing environment.
The Ukraine crisis has led to a decline in foreign investment and increased economic uncertainty which has impacted the adoption and growth of payment orchestration platforms. However, despite these challenges, the market for payment orchestration platforms in Ukraine has continued to grow owing to the increasing adoption of digital payments and e-commerce.
Key Takeaways:
Fastest Growth of Asia-Pacific Region
Geographically, in the global Payment Orchestration Platform Market share, Asia-pacific is analyzed to grow with the highest CAGR of 23.8% during the forecast period 2023-2030 owing to increasing smartphone penetration, rising internet adoption and the growing middle-class population.
As a result, businesses in the region are increasingly adopting payment orchestration platforms to manage their payment processes more efficiently driving the Payment Orchestration Platform Market in this region. In 2022, As per UNESCAP, India is anticipated to spend $3.4 billion on AI by 2026.
The adoption of AI solutions in enterprises is influenced by several factors including government efforts, digital transformation, cloud usage and customer experience.
B2B is Leading the Market
B2B held the largest market share for payment orchestration platform with a revenue contribution of $0.6 billion in 2022 owing to the multiple payment methods, multiple currencies and payment orchestration platforms that can help businesses manage these complexities more efficiently.
BFSI is Leading the Market
In the Payment Orchestration Platform Market analysis, the BFSI (Banking, Financial Services and Insurance) held the largest market share of 39.1% in 2022. Businesses across industries are increasingly adopting payment orchestration platforms to streamline their payment processes, improve payment security and enhance the customer experience.
Increasing Adoption of Cloud-Based POP Solutions
Cloud-based POP solutions offer greater flexibility and scalability compared to on-premise solutions. Cloud-based solutions allow businesses to quickly scale their payment infrastructure to meet growing demand without the need for significant upfront investments in software or hardware.
Adoption of Digital Payments
Digital payments offer greater convenience for consumers and businesses allowing them to make and receive payments quickly and easily from anywhere, at any time. Digital payments can offer greater security than traditional payment methods with features such as encryption and tokenization protecting sensitive data from fraudsters.
Security Concerns Hamper the Market Growth
As the number of digital transactions increases the security concerns such as payment fraud are rising. Payment fraud is a major concern in the POP market with fraudsters using a variety of techniques to exploit vulnerabilities in payment systems. This factor impedes the Payment Orchestration Platform Market growth.
Payment Orchestration Platform Market Share (%) By Region, 2022
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Payment Orchestration Platform Market. The top 10 companies in this industry are listed below:
1. IXOLIT Group (IXOPAY, IXOPLAN)
2. Cell Point Digital (7-Eleven)
3. APEXX Fintech Limited (LAYBUY, AfterPay)
4. Payoneer Inc. (Linio, Wish)
5. Rebilly (Worldpay, Stripe)
6. Modo Payments (COIN®, Modal)
7. Spreedly Inc. (Sepa, Venmo)
8. Amadeus IT Group SA (Outpayce)
9. aye4fin GmbH (TRX22, TSYS)
10. BNT Soft (Itzcash, Agora)
Scope of the Report:
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1. Payment Orchestration Platform Market - Overview
1.1 Definitions and Scope
2. Payment Orchestration Platform Market - Executive Summary
3. Payment Orchestration Platform Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Global Financial Analysis - Key Companies
3.3. Market Share Analysis - Key Companies
3.4. Patent Analysis
3.5. Pricing Analysis
4. Payment Orchestration Platform Market - Start-up Companies Scenario (Premium)
4.2. Investment
4.1. Key Start-up Company Analysis by
4.3. Revenue
4.4. Venture Capital and Funding Scenario
5. Payment Orchestration Platform Market – Market Entry Scenario Premium (Premium)
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Payment Orchestration Platform Market - Forces
6.1. Market Drivers
6.2. Market Constraints
6.3. Market Challenges
6.4. Porter's Five Force Model
6.5. Bargaining Power of Suppliers
6.6. Bargaining Powers of Customers
6.7. Threat of New Entrants
6.8. Rivalry Among Existing Players
6.9. Threat of Substitutes
7. Payment Orchestration Platform Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Opportunities Analysis
7.3. Market Life Cycle
8. Payment Orchestration Platform Market – By Type (Market Size – $Million/$Billion)
8.1 B2C
8.1.1 Key Market Trends, Growth Factors and Opportunities
8.1.2. Market Size & Forecast by Region
8.2. B2B
8.2.1. Key Market Trends, Growth Factors and Opportunities
8.2.2. Market Size & Forecast by Region
8.3. C2C
8.3.1. Key Market Trends, Growth Factors and Opportunities
8.3.2. Market Size & Forecast by Region
9. Payment Orchestration Platform Market – By Functionalities (Market Size – $Million/$Billion)
9.1. Risk Management
9.1.1. Key Market Trends, Growth Factors and Opportunities
9.1.2. Market Size & Forecast by Region
9.2. Cross-Border Transactions
9.2.1. Key Market Trends, Growth Factors and Opportunities
9.2.2. Market Size & Forecast by Region
9.3. Advanced Analytics and Reporting
9.3.1. Key Market Trends, Growth Factors and Opportunities
9.3.2. Market Size & Forecast by Region
10. Payment Orchestration Platform Market – Advanced Analytics and Reporting(Market Size – $Million/$Billion)
10.1. E-commerce
10.1.1. Key Market Trends, Growth Factors and Opportunities
10.1.2. Market Size & Forecast by Region
10.2. Travel and Hospitality
10.2.1. Key Market Trends, Growth Factors and Opportunities
10.2.2. Market Size & Forecast by Region
10.3. BFSI
10.3.1. Key Market Trends, Growth Factors and Opportunities
10.3.2. Market Size & Forecast by Region
10.4. Healthcare
10.4.1. Key Market Trends, Growth Factors and Opportunities
10.4.2. Market Size & Forecast by Region
10.5. Gaming and Entertainment
10.5.1. Key Market Trends, Growth Factors and Opportunities
10.5.2. Market Size & Forecast by Region
10.6. OTT and Digital Services
10.6.1. Key Market Trends, Growth Factors and Opportunities
10.6.2. Market Size & Forecast by Region
11. Payment Orchestration Platform Market – by Geography (Market Size – $Million/$Billion)
11.1.1. North America
11.1.2. Canada
11.1.3. Mexico
11.1.4. The U.S.
11.2. Europe
11.2.1. UK
11.2.2. Germany
11.2.3. France
11.2.4. Italy
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Asia-Pacific
11.3.1. Rest of Asia-Pacific
11.4.2. South America
11.4.3. Brazil
11.4.4. Argentina
11.4.5. Chile
11.4.6. Colombia
11.4.7. Rest of South America
11.5. Rest of the World
11.5.1. Middle East
11.5.2. Africa
12. Payment Orchestration Platform Market – Entropy
13. Payment Orchestration Platform Market – Industry/Segment Competition Landscape Premium
13.1. Market Share Analysis
13.1.1. Market Share by Product Type – Key Companies
13.1.2. Market Share by Region – Key Companies
13.1.3. Market Share by Country – Key Companies
13.2. Competition Matrix
13.3. Best Practices for Companies
14. Payment Orchestration Platform Market – Key Company List by Country Premium Premium
15. Payment Orchestration Platform Market - Company Analysis
15.1. IXOLIT Group
15.2. Cell Point Digital
15.3. APEXX Fintech Limited
15.4. Payoneer Inc.
15.5. Rebilly
15.6. Modo Payments
15.7. Spreedly Inc.
15.8. Amadeus IT Group SA
15.9. aye4fin GmbH
15.10. BNT Soft
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The Payment Orchestration Platform Market is projected to grow at a 23.2% CAGR during the forecast period 2023-2030.
Global Payment Orchestration Platform Market size is estimated to be $1 billion in 2023 and is projected to reach $6 billion by 2030
The leading players in the Payment Orchestration Platform Market are IXOLIT Group, Cell Point Digital, APEXX Fintech Limited, Payoneer Inc., Rebilly and others.
The rising popularity of buy now pay later (BNPL) Platforms and high demand for omnichannel payment solutions are some of the major Payment Orchestration Platform Market trends in the industry that will create growth opportunities for the market during the forecast period
Increasing adoption of digital payments driving the payment orchestration platform market and payment orchestration platform solutions are increasingly being integrated with other payment technologies such as blockchain and cryptocurrency creating substantial growth opportunities for the Payment Orchestration Platform Market.