Buy Now Pay Later Market Expected to Reach USD 3.98 Trillion by 2030, Driven by 45.7% CAGR | Afterpay, Klarna Bank AB

Buy Now Pay Later Market Expected to Reach USD 3.98 Trillion by 2030, Driven by 45.7% CAGR | Afterpay, Klarna Bank AB

NEW CASTLE, DELAWARE, UNITED STATES, June 14, 2024 /EINPresswire.com/ -- According to the report published by Allied Market Research, the global buy now pay later market generated $90.69 billion in 2020 and is projected to reach $3.98 trillion by 2030, witnessing a CAGR of 45.7% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.

𝑹𝒆𝒒𝒖𝒆𝒔𝒕 𝑺𝒂𝒎𝒑𝒍𝒆 𝑪𝒐𝒑𝒚 𝒐𝒇 𝑹𝒆𝒑𝒐𝒓𝒕- https://www.alliedmarketresearch.com/request-sample/12893

The main purpose of buy now pay later is to eliminate the need to make payment for items at the buying time. In addition, numerous benefits provided by buy now pay later include, high security, hassle free transaction, faster transaction processing speed and others. Furthermore, rise in penetration of online payment across the globe and growth in the e-commerce industry in emerging countries are the major factors driving the buy now pay later market growth.

Affordable and convenient payment services of buy now pay later platforms and growth of the e-commerce industry across the globe drive the growth of the global buy now pay later market. However, high late and returned payment fees restrain the market to some extent. On the other hand, increase in demand for delayed payments for online purchases and an upsurge in spending on luxury products among the adult population present new opportunities in the upcoming years.

COVID-19 Scenario:

The buy now pay later payment platform has significantly increased during the COVID-19 pandemic due to the rise in purchasing the consumer goods through online channels to prevent spread of Covid-19.

Major payment solution providers such as Visa and MasterCard have announced their partnership to offer affordable installment financing services, which accelerate the growth of the market during the pandemic outbreak.

Increase in customer spending on health treatment, rise in cost of luxury electronic products, and increase in use of online payments services are some of the important factors that boost the growth of the buy now pay later market during the COVID-19 outbreak.

The report offers detailed segmentation of the global buy now pay later market based on channel, end user, application, and region. Based on channel, the online segment held the highest market share in 2020, holding more than four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the PoS segment is estimated to register the highest CAGR of 49.0 % from 2021 to 2030.

𝐈𝐧𝐪𝐮𝐢𝐫𝐞 𝐘𝐨𝐮𝐫 𝐄𝐯𝐞𝐫𝐲 𝐃𝐨𝐮𝐛𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/purchase-enquiry/12893

Based on application, the retail goods segment held the largest market share in 2020, holding more than two-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the media & entertainment segment is projected to register the highest CAGR of 50.1% from 2021 to 2030.

Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding nearly half of the total market share, and is estimated to continue its dominant share by 2030. Moreover, Asia-Pacific is projected to manifest the fastest CAGR of 47.8% during the forecast period.

Leading players of the global buy now pay later market analyzed in the research include Affirm Holdings Inc., Afterpay, Klarna Bank AB, Laybuy Group Holdings Limited, PayPal Holdings Inc., Payl8r (Social Money Ltd.), Perpay, Quadpay, Sezzle, and Splitit.

Key Benefits For Stakeholders

The study provides an in-depth analysis of global buy now pay later market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on global buy now pay later market share is provided in the report.
Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the buy now pay later market size from 2021 to 2030 is provided to determine the market potential.

𝑰𝒇 𝒚𝒐𝒖 𝒉𝒂𝒗𝒆 𝒂𝒏𝒚 𝒔𝒑𝒆𝒄𝒊𝒂𝒍 𝒓𝒆𝒒𝒖𝒊𝒓𝒆𝒎𝒆𝒏𝒕𝒔, 𝒑𝒍𝒆𝒂𝒔𝒆 𝒍𝒆𝒕 𝒖𝒔 𝒌𝒏𝒐𝒘: https://www.alliedmarketresearch.com/request-for-customization/A12528

Buy Now Pay Later Market Key Segments

By Channel

Online Channel
POS Channel

By Application

Retail Goods
Media & Entertainment
Healthcare & Wellness
Automotive
Home Improvement
Others

By Region

North America (U.S., Canada)
Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
LAMEA (Latin America, Middle East, Africa)

𝐑𝐞𝐚𝐝 𝐌𝐨𝐫𝐞 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 -

Financial Planning Software Market https://www.alliedmarketresearch.com/financial-planning-software-market-A16422

Financial Advisory Services Market https://www.alliedmarketresearch.com/financial-advisory-services-market-A06946

Consumer Electronics Extended Warranty Market https://www.alliedmarketresearch.com/consumer-electronics-extended-warranty-market-A14248

Crop Insurance Market https://www.alliedmarketresearch.com/crop-insurance-market-A06791

Cryptocurrency Market https://www.alliedmarketresearch.com/crypto-currency-market

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
Twitter