Payment Security Market by Solution (Encryption, Tokenization, and Fraud Detection and Prevention), Service (Integration, Support, and Consulting), Organization Size (Large Enterprises and SMEs), Industry Vertical, and Region - Global Forecast to 2022
[114 Pages Report] The payment security market size is expected to grow from USD 11.39 Billion in 2017 to USD 24.63 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 16.7%. The base year considered for the study is 2016, and the market size is calculated from 2017 to 2022.
The objective of the report is to define, describe, and forecast the global payment security market on the basis of components (solutions and services), organization sizes, industry verticals, and regions. The report analyzes the market opportunities for stakeholders by identifying high-growth segments of the market. Furthermore, the report profiles the key players of the market and comprehensively analyzes their core competencies, such as new product launches, acquisitions, partnerships, agreements, and collaborations. Moreover, the report also covers detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and challenges).
The research methodology used to estimate and forecast the payment security market begins with the capturing of data from various industry associations and consortiums, such as SANS Institute, RSA Security, SC Magazine, and other sources, such as company financials, journals, press releases, paid databases, and annual reports. Vendor product and service offerings are also taken into consideration to determine the market segmentations. The bottom-up procedure was employed to arrive at the overall payment security market size from the revenues of the key market players. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with the key people, such as Chief Executive Officers (CEOs), Vice Presidents (VPs), directors, executives, and cybersecurity technologists. The data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of the primary profiles of the participants is depicted in the figure given below:
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The payment security ecosystem includes major vendors such as Braintree (Illinois, US), CyberSource Corporation (California, US), Elavon (Georgia, US), Index (Nevada, US), Ingenico ePayments (Hoofddorp, Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (Virginia, US), Shift4 Corporation (Nevada, US), Transaction Network Services (TNS) Inc. (Virginia, US), and TokenEx, LLC (Oklahoma, US). Other stakeholders include system integrators, payment security service providers, consulting firms, Information Technology (IT) service providers, Value-Added Resellers (VARs), enterprise users, and security and access management technology providers. These Payment Security Solutions Vendors are rated and listed by us on the basis of product quality, reliability, and their business strategy. Please visit 360Quadrants to see the vendor listing of Payment Security Solutions.
Key Target Audience for Payment Security Market
- Government agencies
- Payment security vendors
- Network solution providers
- Independent software vendors
- Consulting firms
- System integrators
- VARs
- Managed Security Service Providers (MSSPs)
The study answers several questions for the stakeholders; primarily, which market segments to focus on in the next 2 to 5 years for prioritizing their efforts and investments.
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Scope of the Report
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Report Metrics |
Details |
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Market size available for years |
20152022 |
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Base year considered |
2016 |
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Forecast period |
20172022 |
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Forecast units |
Billion (USD) |
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Segments covered |
Solution, Service, Organization Size, Industry Vertical, and Region |
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Geographies covered |
North America, Europe, APAC, Latin America, and MEA |
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Companies covered |
Braintree (Illinois, US), CyberSource Corporation (California, US), Elavon (Georgia, US), Index (Nevada, US), Ingenico ePayments (Hoofddorp, Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (Virginia, US), Shift4 Corporation (Nevada, US), Transaction Network Services (TNS) Inc. (Virginia, US), and TokenEx, LLC (Oklahoma, US). |
- The research report segments the market into the following submarkets:
By Component
- By Solution
- Encryption
- Tokenization
- Fraud detection and prevention
- By Service
- Integration services
- Support services
- Consulting services
Payment Security Market By Organization Size:
- Large enterprises
- Small and Medium-Sized Enterprises (SMEs)
By Vertical:
- Retail
- Travel and hospitality
- Healthcare
- IT and telecom
- Education
- Media and entertainment
- Others (automotive, financial services, and manufacturing)
By Region:
- North America
- Europe
- Asia Pacific (APAC)
- Middle East and Africa (MEA)
- Latin America
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:
Geographic Analysis
- Further breakdown of the North American payment security market
- Further breakdown of the European market
- Further breakdown of the APAC market
- Further breakdown of the MEA market
- Further breakdown of the Latin American payment security market
Company Information
Detailed analysis and profiling along with competitive leadership mapping to get detailed information about the market competitors on the basis of their product offerings and business strategies. The report reviews the major players who offer payment security services. Additionally, the report also outlines the findings and analysis on how well each payment security vendor performs within the MarketsandMarkets criteria.
The major growth drivers of the payment security market include increased adoption of digital payment modes, need to adhere to PCI DSS guidelines, and rise in fraudulent activities on eCommerce. The market is segmented by component (solution and service), organization size, industry vertical, and region. The solutions segment in the market is expected to have a larger market size than the services segment during the forecast period. The reason behind the high growth rate is the increased need to secure online business sensitive transactions from advanced cyber-attacks.
The support services segment is expected to grow at a higher CAGR during the forecast period with the largest market size. The large enterprises segment is expected to account for a larger market size in 2017. 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.
Payment security solutions and services are deployed across various industry verticals, including retail; travel and hospitality; IT and telecom; healthcare; education; media and entertainment; and others. The education vertical is expected to grow at the highest CAGR during the forecast period. However, the retail vertical is expected to have the largest market size in 2017, as retailers are using various interesting ways such as, offers and discounts to attract customers for online shopping. Therefore, the adoption of the payment security market solutions is increasing in the retail sector.
On the basis of regions, the global payment security market has been segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and Latin America to provide a region-specific analysis. The North American region, followed by Europe, is expected to be the largest revenue-generating region for payment security service vendors in 2017. In the developed economies of the US and Canada, there is a high focus on innovations obtained from Research and Development (R&D) and payment security technologies. The APAC region is expected to be the fastest-growing region in the market. The growth in this region is primarily driven by the increasing adoption of advanced payment technologies within organizations to perform business transactions.
However, the lack of trust in online banking may restrict the growth of the payment security market. The major vendors that offer payment security solutions and services across the globe include Braintree (Illinois, US), CyberSource Corporation (California, US), Elavon (Georgia, US), Index (Nevada, US), Ingenico ePayments (Hoofddorp, Netherlands), Intelligent Payments (Gibraltar), GEOBRIDGE Corporation (Virginia, US), Shift4 Corporation (Nevada, US), Transaction Network Services (TNS) Inc. (Virginia, US), and TokenEx, LLC (Oklahoma, US). These vendors have adopted different types of organic and inorganic growth strategies, such as new product launches, partnerships and collaborations, and acquisitions to expand their offerings in the market.
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Table of Contents
1 Introduction (Page No. - 11)
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Years Considered for the Study
1.5 Currency
1.6 Stakeholders
2 Research Methodology (Page No. - 14)
2.1 Research Data
2.1.1 Secondary Data
2.1.2 Primary Data
2.1.2.1 Breakdown of Primary Interviews
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Research Assumptions and Limitations
2.3.1 Limitations
2.4 Microquadrant Research Methodology
2.4.1 Vendor Inclusion Criteria
3 Executive Summary (Page No. - 21)
4 Premium Insights (Page No. - 24)
4.1 Attractive Market Opportunities in the Payment Security Market
4.2 Market By Solution, 20172022
4.3 Market By Service, 20172022
4.4 Market By Organization Size, 20172022
4.5 Market By Industry Vertical, 20172022
4.6 Life Cycle Analysis, By Region
5 Market Overview (Page No. - 28)
5.1 Payment Security Architecture
5.2 Use Cases
5.2.1 Introduction
5.2.2 Securing Business Transactions Across Enterprises Using Payment Security Solutions
5.2.3 Payment Secuirty to Protect Cardholders Data From Unauthorized Accesses
5.2.4 Adoption of Payment Security Solutions in the Retail Industry
5.2.5 Point-To-Point Encryption (P2PE) is Helping Healthcare Industry to Keep Patient Payment Data Safe
5.2.6 Implementation of Payment Security Solutions Across Travel and Transport Industry
5.3 Payment Security By Type
5.3.1 Introduction
5.3.2 Mobile-Based Payment Security
5.3.3 Web-Based Payment Security
5.3.4 Pos-Based Payment Security
5.4 Market Dynamics
5.4.1 Drivers
5.4.1.1 Increased Adoption of Digital Payment Modes
5.4.1.2 Need to Adhere to PCI DSS Guidelines
5.4.1.3 Rise in Fraudulent Activities in Ecommerce
5.4.2 Restraints
5.4.2.1 Lack of Trust on Online Banking
5.4.3 Opportunities
5.4.3.1 Rise in Demand of Advanced Payment Security Solutions for Digital Ecommerce
5.4.3.2 Increasing Use of Payment Applications Across Different Industry Verticals
5.4.4 Challenges
5.4.4.1 Low Level of Awareness of Online Payments in Rural Areas
5.4.4.2 High Costs of Advanced Payment Security Solutions
6 Market Analysis, By Component (Page No. - 37)
6.1 Introduction
6.2 Solutions
6.2.1 Encryption
6.2.2 Tokenization
6.2.3 Fraud Detection and Prevention
6.3 Services
6.3.1 Integration Services
6.3.2 Support Services
6.3.3 Consulting Services
7 Payment Security Market Analysis, By Organization Size (Page No. - 47)
7.1 Introduction
7.2 Large Enterprises
7.3 Small and Medium-Sized Enterprises
8 Market Analysis, By Vertical (Page No. - 51)
8.1 Introduction
8.2 Retail
8.3 Travel and Hospitality
8.4 Healthcare
8.5 IT and Telecom
8.6 Education
8.7 Media and Entertainment
8.8 Others
9 Geographic Analysis (Page No. - 59)
9.1 Introduction
9.2 North America
9.3 Europe
9.4 Asia Pacific
9.5 Middle East and Africa
9.6 Latin America
10 Competitive Landscape (Page No. - 76)
10.1 Microquadrant Overview
10.1.1 Visionary Leaders
10.1.2 Innovators
10.1.3 Dynamic Differentiators
10.1.4 Emerging Companies
10.2 Competitive Benchmarking
10.2.1 Strength of Product Offering of Major Players in the Market
10.2.2 Business Strategy Excellence of Major Players in the Market
10.3 Competitive Leadership Mapping
11 Company Profiles (Page No. - 80)
(Business Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments)*
11.1 Bluefin Payment Systems
11.2 Braintree
11.3 Cybersource
11.4 Elavon
11.5 Index
11.6 Ingenico Epayments
11.7 Intelligent Payments
11.8 Geobridge Corporation
11.9 Shift4 Corporation
11.10 Sisa Information Security
11.11 Signifyd
11.12 TNS
11.13 Tokenex
*Details on Overview, Strength of Product Portfolio, Business Strategy Excellence, Recent Developments Might Not Be Captured in Case of Unlisted Companies.
12 Appendix (Page No. - 108)
12.1 Discussion Guide
12.2 Knowledge Store: Marketsandmarkets Subscription Portal
12.3 Introducing RT: Real-Time Market Intelligence
12.4 Available Customizations
12.5 Related Reports
12.6 Author Details
List of Tables (51 Tables)
Table 1 Evaluation Criteria
Table 2 Payment Security Market Size and Growth Rate, 20152022 (USD Million, Y-O-Y %)
Table 3 Market Size By Component, 20152022 (USD Million)
Table 4 Market Size By Solution, 20152022 (USD Million)
Table 5 Solutions: Market Size, By Region, 20152022 (USD Million)
Table 6 Encryption Market Size, By Region, 20152022 (USD Million)
Table 7 Tokenization Market Size, By Region, 20152022 (USD Million)
Table 8 Fraud Detection and Prevention Market Size, By Region, 20152022 (USD Million)
Table 9 Payment Security Market Size, By Service, 20152025 (USD Million)
Table 10 Services: Market Size, By Region, 20152022 (USD Million)
Table 11 Integration Services Market Size, By Region, 20152022 (USD Million)
Table 12 Support Services Market Size, By Region, 20152022 (USD Million)
Table 13 Consulting Services Market Size, By Region, 20152022 (USD Million)
Table 14 Market Size, By Organization Size, 20152022 (USD Million)
Table 15 Large Enterprises: Market Size, By Region, 20152022 (USD Million)
Table 16 Small and Medium-Sized Enterprises: Market Size, By Region, 20152022 (USD Million)
Table 17 Payment Security Market Size, By Vertical, 20152022 (USD Million)
Table 18 Retail: Market Size, By Region, 20152022 (USD Million)
Table 19 Travel and Hospitality: Market Size, By Region, 20152022 (USD Million)
Table 20 Healthcare: Market Size, By Region, 20152022 (USD Million)
Table 21 IT and Telecom: Market Size, By Region, 20152022 (USD Million)
Table 22 Education: Market Size, By Region, 20152022 (USD Million)
Table 23 Media and Entertainment: Market Size, By Region, 20152022 (USD Million)
Table 24 Others: Market Size, By Region, 20152022 (USD Million)
Table 25 Payment Security Market Size, By Region, 20152022 (USD Million)
Table 26 North America: Market Size, By Component, 20152022 (USD Million)
Table 27 North America: Market Size, By Solution, 20152022 (USD Million)
Table 28 North America: Market Size, By Service, 20152022 (USD Million)
Table 29 North America: Market Size, By Organization Size, 20152022 (USD Million)
Table 30 North America: Market Size, By Vertical, 20152022 (USD Million)
Table 31 Europe: Payment Security Market Size, By Component, 20152022 (USD Million)
Table 32 Europe: Market Size, By Solution, 20152022 (USD Million)
Table 33 Europe: Market Size, By Service, 20152022 (USD Million)
Table 34 Europe: Market Size, By Organization Size, 20152022 (USD Million)
Table 35 Europe: Market Size, By Vertical, 20152022 (USD Million)
Table 36 Asia Pacific: Payment Security Market Size, By Component, 20152022 (USD Million)
Table 37 Asia Pacific: Market Size, By Solution, 20152022 (USD Million)
Table 38 Asia Pacific: Market Size, By Service, 20152022 (USD Million)
Table 39 Asia Pacific: Market Size, By Organization Size, 20152022 (USD Million)
Table 40 Asia Pacific: Market Size, By Vertical, 20152022 (USD Million)
Table 41 Middle East and Africa: Payment Security Market Size, By Component, 20152022 (USD Million)
Table 42 Middle East and Africa: Market Size, By Solution, 20152022 (USD Million)
Table 43 Middle East and Africa: Market Size, By Service, 20152022 (USD Million)
Table 44 Middle East and Africa: Market Size, By Organization Size, 20152022 (USD Million)
Table 45 Middle East and Africa: Market Size, By Vertical, 20152022 (USD Million)
Table 46 Latin America: Payment Security Market Size, By Component, 20152022 (USD Million)
Table 47 Latin America: Market Size, By Solution, 20152022 (USD Million)
Table 48 Latin America: Market Size, By Service, 20152022 (USD Million)
Table 49 Latin America: Market Size, By Organization Size, 20152022 (USD Million)
Table 50 Latin America: Market Size, By Vertical, 20152022 (USD Million)
Table 51 Payment Security Market: Ranking Analysis
List of Figures (26 Figures)
Figure 1 Global Payment Security Market Segmentation
Figure 2 Global Market: Research Design
Figure 3 Breakdown of Primary Interviews: By Company, Designation, and Region
Figure 4 Data Triangulation
Figure 5 Payment Security Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Market: Assumptions
Figure 8 North America is Expected to Hold the Largest Market Share in 2017
Figure 9 Need to Adhere to PCI DSS Guidelines and Reach Customers Across the Globe are Expected to Boost the Payment Security Market
Figure 10 Encryption Solution is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 11 Support Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 12 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 13 Education Industry Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 14 The Payment Security Market has Immense Opportunities for Growth in Asia Pacific
Figure 15 Payment Security Architecture
Figure 16 Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Percentage of Americans Primarily Using Digital Banking (20142016)
Figure 18 Share of Retail Ecommerce Transactions Using Multiple Devices in 2016
Figure 19 Encryption Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 20 Consulting Services Segment is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 21 Small and Medium-Sized Enterprises Segment is Expected to Grow at A Higher CAGR During the Forecast Period
Figure 22 Education Vertical is Expected to Grow at the Highest CAGR During the Forecast Period
Figure 23 North America is Expected to Hold the Largest Market Size During the Forecast Period
Figure 24 North America: Payment Security Market Snapshot
Figure 25 Asia Pacific: Market Snapshot
Figure 26 Competitive Leadership Mapping
Growth opportunities and latent adjacency in Payment Security Market