Published Date: 31-Jul-2022
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According to a new report, published by KBV research, The Global Payment Orchestration Platform Market size is expected to reach $3.7 billion by 2028, rising at a market growth of 22.4% CAGR during the forecast period.
The B2B segment is leading the Global Payment Orchestration Platform Market by Type in 2021 thereby, achieving a market value of $2.3 billion by 2028. The increase in the growth of the segment is primarily attributed to the surge in international trade across the world. The growth of international trade has accelerated the demand for business-to-business payments and is anticipated to open up new prospects for POPs.
The E-commerce segment is showcasing a CAGR of 22.7% during (2022 - 2028). The rapidly increasing growth of the segment is due to the evolving consumer expectations regarding their online shopping payment experiences. In keeping with this, a number of online retailers are figuring out how to sell their services in a distinct manner. Additionally, these businesses are focusing on providing a selection of speedy payment methods. Hence, these factors are boosting the growth of this segment of the market.
The Cross-Border Transactions segment acquired maximum revenue share in the Global Payment Orchestration Platform Market by Functionalities in 2021 thereby, achieving a market value of $1.7 billion by 2028. Due to widespread financial inclusion and the expansion of digital remittances, this market has witnessed significant expansion. Remittances are a major source of foreign revenue for many developing countries, allowing them to increase their wealth.
The North America market dominated the Global Payment Orchestration Platform Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $1.3 billion by 2028. The Europe market is exhibiting a CAGR of 21.9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 22.9% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of CellPoint Digital Ltd., IXOLIT Group, Payoneer, Inc., APEXX Fintech Ltd., Rebilly, Spreedly, Inc., Modo Payments, LLC, Akurateco BV, BNT SOF, and aye4fin GmbH.
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