Europe Digital Payment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution (Payment Gateways, Payment Processing, Payment Security and Fraud Management, Point of Sale, and Payment Wallet) and Services (Professional Servi

Europe Digital Payment Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Solution (Payment Gateways, Payment Processing, Payment Security and Fraud Management, Point of Sale, and Payment Wallet) and Services (Professional Services and Managed Services)), Deployment (Cloud-Based and On-Premises), Organization Size (Large Enterprises and SMEs), and Industry (BFSI, Retail and Ecommerce, Healthcare, Travel and Hospitality, Media and Entertainment, IT and Telecom, and Others)

The Europe digital payment market is expected to grow from US$ 25,079.22 million in 2021 to US$ 64,508.08 million by 2028; it is estimated to grow at a CAGR of 14.4% from 2021 to 2028.

The difference between physical and digital commerce is dissolving, and channels are converging increasingly. The in-store purchase experience has shifted significantly closer to the online one due to the strong emphasis on contactless payments during the COVID-19 pandemic. Also, before the pandemic, contactless payments were already well-established in a few countries in Europe. Touchless payments and/or biometric identification are prevalent in online payment methods. Mobile payments, on the other hand, are gaining popularity due to the ease of use and the growing popularity of original equipment manufacturer (OEM) Pay solutions as a retail payment method. In a few countries, retailers and governments proactively request the customers to opt for contactless payments and encourage retailers to provide all possible support to their customers. Many banks have increased their contactless payment limits to reduce the need for a touchpad or cash at the point of sale, owing to the growth of the Europe market.

European governments realized that all businesses, irrespective of their size and scale, need assistance during the COVID-19 outbreak. The crisis hampered the business operations of public and private companies in the region. Russia, the UK, France, Italy, Spain, and Germany are among the worst-affected European countries due to the global outbreak. Businesses in the region face severe economic difficulties as they either suspended their operations or substantially reduced their activities. Due to the business shutdown, Europe witnessed an economic slowdown in the first half of 2021. However, the pandemic did not affect the software industry to a large extent, unlike other industries such as automotive and manufacturing, since businesses allowed their employees to continue working from their homes.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe digital payment market. The Europe digital payment market is expected to grow at a good CAGR during the forecast period.

Europe Digital Payment Market Revenue and Forecast to 2028 (US$ Million)

Europe Digital Payment Market Segmentation

Europe Digital Payment Market, by Component

Solution Payment Gateway Payment Processing Payment Security and Fraud Management Point of Sale Payment Wallet Services Professional Services Managed Services

Europe Digital Payment Market, by Deployment

On-Premise Cloud-Based Europe Digital Payment Market, by Organization Size

SMEs Large Enterprises Europe Digital Payment Market, by Industry

BFSI Retail and Ecommerce Healthcare Travel and Hospitality Media and Entertainment IT and Telecom Others Europe Digital Payment Market, by Country

Germany UK France Italy Russia Rest of Europe Europe Digital Payment Market - Companies Mentioned

ACI Worldwide, Inc. Adyen Block, Inc. Financial Software & Systems Pvt. Ltd. Fiserv, Inc. Global Payments Inc. Novatti Group Ltd Pay Pal Holdings, Inc. Paysafe Limited Pay U

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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Europe digital payment market.      
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Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the digital payment market, as well as those hindering it 
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