DUBLIN, June 7, 2023 /PRNewswire/ — The “Buy Now Pay Later Global Market Report 2023” report has been added to ResearchAndMarkets.com’s offering.
The global buy now pay later market grew from $105.15 billion in 2022 to $155.79 billion in 2023 at a compound annual growth rate (CAGR) of 48.2%. The buy now pay later market is expected to grow to $744.06 billion in 2027 at a CAGR of 47.8%.
Technological advancement is a key trend gaining popularity in the buy-now-pay-later market. Major market players are concentrating on offering customers cutting-edge digital services to sustain their position in the buy-now-pay-later market. For instance, in January 2022, Temenos, a Switzerland-based software and apps company, launched Temenos Banking Cloud, the first AI-driven buy-now-pay-later banking service in the market.
Through alternative credit products, this offering is expected to give banks and fintechs additional revenue options, assist them in expanding into new areas, and strengthen their connections with customers and business partners. By offering transparency into automated judgments and pairing BNPL customers with suitable loan offers based on their past, Temenos BNPL assists banks in developing lending programs that are driven by patented, explainable AI technology. Therefore, technological advancement is boosting the growth of the buy-now-pay-later market.
In 2022, North America was the largest region in the buy now pay later market. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in this buy now pay later market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
An increase in the adoption of online payment methods is expected to propel the growth of the buy-now-pay-later market going forward. Online payments refer to payments that are made for goods or services that have been purchased online or offline. With the buy now, pay later option, customers can make small-ticket purchases both offline and online and make fast payments.
A selection of companies mentioned in this report includes
- Paytm Postpaid
- PayPal Holdings Inc.
- Affirm Inc.
- Klarna Inc.
- Splitit
- Sezzle
- Perpay Inc.
- Openpay
- Quadpay Inc.
- LatitudePay
- Laybuy Group Holdings Limited
- Payl8r (Social Money Ltd.)
- ePayLater
- Zest Money
- Lazypay
Key Topics Covered:
1. Executive Summary
2. Buy Now Pay Later Market Characteristics
3. Buy Now Pay Later Market Trends And Strategies
4. Buy Now Pay Later Market – Macro Economic Scenario
4.1. COVID-19 Impact On Buy Now Pay Later Market
4.2. Ukraine-Russia War Impact On Buy Now Pay Later Market
4.3. Impact Of High Inflation On Buy Now Pay Later Market
5. Buy Now Pay Later Market Size And Growth
5.1. Global Buy Now Pay Later Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Buy Now Pay Later Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Buy Now Pay Later Market Segmentation
6.1. Global Buy Now Pay Later Market, Segmentation By Channel, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Online
- POS
6.2. Global Buy Now Pay Later Market, Segmentation By Enterprise Size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Large Enterprises
- Small and Medium Enterprises
6.3. Global Buy Now Pay Later Market, Segmentation By End Use, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Consumer Electronics
- Fashion and Garment
- Healthcare
- Leisure and Entertainment
- Retail
- Others End-User
7. Buy Now Pay Later Market Regional And Country Analysis
7.1. Global Buy Now Pay Later Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global Buy Now Pay Later Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/50cq9w
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SOURCE Research and Markets
