According to a new report, published by KBV research, The Global Payment Card Skimming Market size is expected to reach $5.6 billion by 2030, rising at a market growth of 9.6% CAGR during the forecast period.
The Solution segment is generating the maximum revenue in the Global Payment Card Skimming Market, By Component in 2022; thereby, achieving a market value of $3.7 billion by 2030. The demand for payment card skimming solutions is being driven by the increasing prevalence and sophistication of payment card fraud, regulatory requirements, and the shift towards contactless and mobile payments. As the threat landscape continues to evolve, the need for effective skimming solutions is likely to remain strong. Additionally, the shift towards contactless and mobile payments is increasing the need for skimming solutions.
The Small & Medium-Sized Enterprises segment is experiencing a CAGR of 10.5% during (2023 - 2030). Many SMEs are expanding their digital presence and adopting electronic payment methods to remain competitive and meet customer expectations. As SMEs embrace online sales, e-commerce platforms, and mobile payment technologies, they become exposed to various cyber threats, including payment card skimming. The need to protect customer payment data and secure online transactions drives SMEs to invest in skimming detection and prevention solutions.
The On-Premise segment is leading the Global Payment Card Skimming Market, By Deployment Type in 2022; thereby, achieving a market value of $3.3 billion by 2030. Many organizations prioritize data sovereignty and control, preferring to maintain sensitive payment card data within their premises to ensure compliance with regulatory requirements and internal security policies. Firms can implement on-premise solutions to reduce the risk of data breaches and unauthorized access to payment card information and maintain complete control over their payment infrastructure, data storage, and security protocols.
The ATMs segment is registering a CAGR of 9% during (2023 - 2030). ATMs are highly vulnerable to payment card skimming attacks due to their widespread availability, accessibility to the public, and reliance on magnetic stripe or chip technology for card authentication. Cybercriminals target ATMs as prime locations for installing skimming devices, as they can secretly capture payment card data from unsuspecting users when they insert their cards to withdraw cash or check their account balances.
Full Report: https://www.kbvresearch.com/payment-card-skimming-market/
The North America region dominated the Global Payment Card Skimming Market, By Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.8 billion by 2030. The Europe region is poised to grow a CAGR of 9.4% during (2023 - 2030). Additionally, The Asia Pacific region would witness a CAGR of 10.6% during (2023 - 2030).
By Component
By Organization Size
By Deployment Type
By Application
Unique Offerings 
