Report Code: CMI19989

Published Date: October 2022

Pages: 220+

Category: Technology

Report Snapshot

CAGR: 27%
6.1B
2022
8.1B
2023
25.7B
2032

Source: CMI

Study Period: 2024-2033
Fastest Growing Market: Asia-Pacific
Largest Market: Europe

Major Players

  • Affirm Inc.
  • Afterpay Pty Ltd (Block Inc.)
  • Billie GmbH
  • Klarna Bank AB
  • LatitudePay Australia Pty Ltd
  • Others

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Reports Description

As per the current market research conducted by the CMI Team, the global Buy Now Pay Later Market is expected to record a CAGR of 27% from 2023 to 2032. In 2022, the market size is projected to reach a valuation of USD 6.1 Billion. By 2032, the valuation is anticipated to reach USD 25.7 Billion.

Buy now pay later (BNPL) is a financial service that enables individuals to make upfront purchases of goods and delay payment until a later date. This system encompasses various components and processes, including payment platforms, retail partnerships, application procedures, credit assessments, structured repayment plans, and potential interest charges.

BNPL is commonly employed for a wide range of purchases, spanning consumer electronics, clothing, home furnishings, automobiles, healthcare services, vacations, travel tickets, hotels, and online shopping. This service offers substantial advantages, including enhanced financial flexibility, heightened convenience, reduced financial stress, and the ability for consumers to acquire high-end and luxury items.

The market for buy now pay later (BNPL) services is experiencing significant growth driven by its widespread adoption in various industries. In the e-commerce sector, BNPL services are being extensively used to attract customers, improve conversion rates, and reduce shopping cart abandonment, thereby fueling market expansion.

Moreover, the education industry has embraced BNPL services, enabling individuals to pursue desired courses and degrees without the immediate financial burden of paying full tuition fees upfront, further contributing to market growth. In the automotive industry, the adoption of BNPL services is on the rise, facilitating vehicle purchases by allowing consumers to spread the cost over a predetermined period, which is driving market expansion.

Additionally, consumers’ increasing interest in accessing subscription-based businesses like media streaming platforms, fitness apps, and beauty subscription boxes is bolstering market growth. Several factors are playing a crucial role in driving market growth, including evolving consumer shopping habits, a heightened focus on enhancing user experiences, and the growing number of partnerships between BNPL service providers and industry stakeholders. These dynamics collectively contribute to the overall growth and expansion of the BNPL market.

Buy Now Pay Later Market – Significant Growth Factors

  • Consumer Convenience: BNPL services offer consumers the convenience of making immediate purchases while deferring payment to a later date. This flexibility in payment terms appeals to shoppers and encourages them to make more purchases.
  • Reduced Cart Abandonment: In e-commerce, BNPL solutions have proven effective in reducing cart abandonment rates. Shoppers are more likely to complete their purchases when presented with the option to pay later, especially for higher-value items.
  • Accessibility and Inclusivity: BNPL services often have more lenient credit requirements compared to traditional credit cards, making them accessible to a broader consumer base, including those with limited or no credit history.
  • Interest-Free Periods: Many BNPL providers offer interest-free payment periods, attracting consumers who want to avoid accruing interest charges on their purchases.
  • Retail Partnerships: BNPL providers establish partnerships with a wide range of retail businesses, both online and offline, expanding their reach and giving consumers more opportunities to utilize BNPL services.
  • Education Sector Adoption: The adoption of BNPL services in the education sector allows students to pursue courses and degrees without the immediate burden of paying full tuition fees upfront.
  • Automotive Industry Utilization: In the automotive industry, BNPL services are used to facilitate vehicle purchases, enabling consumers to spread out the cost over a predetermined period.
  • Subscription-Based Services: Consumers increasingly use BNPL for subscription-based businesses, such as media streaming platforms, fitness apps, and beauty subscription boxes, providing them with easier access to these services.
  • Changing Consumer Behavior: Evolving shopping habits, including a preference for online shopping and a desire for flexible payment options, drive the adoption of BNPL services.
  • Enhanced User Experience: BNPL providers focus on creating a seamless and user-friendly experience for consumers, including streamlined application processes and easy-to-understand terms.
  • Partnerships and Collaborations: BNPL service providers collaborate with various industry stakeholders, including retailers, financial institutions, and fintech companies, to expand their offerings and reach a wider audience.
  • Regulatory Support: Regulatory bodies in some regions have provided support and guidelines for BNPL services, which has contributed to their growth and legitimacy.

Global Buy Now Pay Later (BNPL) Market 2023–2032 (By Channel)

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Buy Now Pay Later Market – Mergers and Acquisitions

  • Square’s Acquisition of Afterpay: In August 2021, Square, a financial technology company, announced its acquisition of Afterpay, one of the leading BNPL providers globally. This merger allowed Square to expand its payment and financial services offerings while providing Afterpay access to a broader customer base and enhanced capabilities.
  • PayPal’s Acquisition of Paidy: In October 2021, PayPal acquired Paidy, a Japanese BNPL company. This acquisition aimed to strengthen PayPal’s presence in the Japanese market and expand its BNPL services globally.
  • Klarna’s Acquisition of Hero: In September 2021, Klarna, a prominent BNPL provider, acquired Hero, a retail tech company. This acquisition aimed to enhance the in-store shopping experience by integrating BNPL solutions with physical retail locations.
  • Affirm’s Acquisition of Returnly: In May 2021, Affirm, another major player in the BNPL market, acquired Returnly, a company specializing in return and exchange solutions. This acquisition enabled Affirm to offer a seamless returns experience to its customers.
  • Sezzle’s Acquisition of MobiKwik: Sezzle, a BNPL provider with a presence in various markets, acquired MobiKwik, a mobile payments company in India, in 2021. This acquisition allowed Sezzle to expand its reach and services in the Indian market.
  • Afterpay’s Acquisition of Pagantis: Afterpay’s acquisition of Pagantis, a European BNPL provider, in 2020 aimed to accelerate Afterpay’s growth in the European market and increase its global footprint.
  • Zip Co’s Acquisition of QuadPay: Zip Co, an Australian BNPL company, acquired QuadPay, a U.S.-based BNPL provider, in 2020. This acquisition helped Zip Co expand its presence in the U.S. market.

COMPARATIVE ANALYSIS OF THE RELATED MARKET

Buy Now Pay Later Market Communications Service Providers (CSP) Market Contract Lifecycle Management (CLM) Market
CAGR 27% (Approx) CAGR 4.7% (Approx) CAGR 12.33% (Approx)
USD 25.7 Billion by 2032 USD 2.3 Trillion by 2032 USD 3.69 Billion by 2032

Buy Now Pay Later Market – Significant Threats

  • Regulatory Scrutiny: Increasing regulatory scrutiny is a significant threat to the BNPL industry. Regulatory bodies in various countries are considering stricter regulations to govern BNPL providers, which could lead to compliance challenges and increased operational costs.
  • Consumer Overindebtedness: One of the primary concerns associated with BNPL services is the potential for consumers to accumulate debt beyond their ability to repay. High usage of BNPL options could lead to financial hardship for some consumers, which may result in defaults and increased credit risk for BNPL providers.
  • Credit Risk Management: BNPL providers must effectively manage credit risk to avoid losses. The inability to assess and manage credit risk accurately could lead to financial instability and defaults on payments.
  • Data Security and Privacy Concerns: The collection and storage of sensitive consumer data for credit assessment purposes raise concerns about data security and privacy. Data breaches and security vulnerabilities could undermine consumer trust in BNPL services.
  • Competition: The BNPL market is highly competitive, with numerous providers vying for market share. Increased competition can lead to pricing pressures and the need for continuous innovation to differentiate services.
  • Economic Downturns: Economic recessions or downturns can impact consumers’ ability to make repayments, leading to increased defaults and credit losses for BNPL providers.
  • Fraud Risk: BNPL providers are susceptible to fraud, including identity theft and fraudulent transactions. Effective fraud prevention measures are essential to mitigate this threat.
  • Default Rates: Elevated default rates, particularly during economic downturns, can negatively impact the profitability and stability of BNPL providers.
  • Market Saturation: As the BNPL market matures, saturation in certain markets or industries may limit growth opportunities and lead to intensified competition.
  • Merchant Integration Challenges: BNPL services require seamless integration with online and offline retailers. Overcoming integration challenges and maintaining strong partnerships with merchants is crucial for market success.

Report Scope

Feature of the Report Details
Market Size in 2023 USD 8.1 Billion
Projected Market Size in 2032 USD 25.7 Billion
Market Size in 2022 USD 6.1 Billion
CAGR Growth Rate 27% CAGR
Base Year 2023
Forecast Period 2024-2033
Key Segment By Channel, Enterprise Size, End Use and Region
Report Coverage Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends
Regional Scope North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America
Buying Options Request tailored purchasing options to fulfil your requirements for research.

Category-Wise Insights

By Channel:

Online channels have emerged as the dominant force in the Buy Now Pay Later (BNPL) market, primarily fueled by the remarkable growth of the e-commerce industry. These online platforms offer a seamlessly integrated shopping experience, allowing customers to explore a diverse array of products while conveniently accessing BNPL payment options during the checkout process.

The synergy between BNPL services and online retail platforms is further strengthened by the increasing number of partnerships and collaborations, aimed at streamlining the payment process and enhancing user convenience.

Moreover, online channels eliminate the need for manual paperwork or in-person interactions, enabling customers to complete the entire purchase process swiftly. This not only saves time but also significantly enhances the overall shopping experience.

Furthermore, the expansive product offerings across various industries available on online platforms empower customers to leverage BNPL services for financing purchases across a wide range of categories.

In essence, the dominance of online channels in the BNPL market reflects their pivotal role in shaping the future of consumer finance, offering convenience, variety, and accessibility to a vast customer base.

By Enterprise Size:

Established large enterprises enjoy a distinct advantage in the Buy Now Pay Later (BNPL) market, underpinned by their well-established brand reputations and formidable market presence. These factors instill a sense of security and confidence among consumers when utilizing BNPL services.

Furthermore, the substantial financial resources at their disposal empower large enterprises to scale their operations and maintain a competitive edge within the dynamic BNPL market landscape.

Moreover, significant investments made by large enterprises in state-of-the-art payment platforms, advanced data analytics, sophisticated risk assessment tools, and robust customer management systems contribute to the delivery of a seamless and user-friendly experience.

Their commitment to technological innovation enhances user convenience, streamlines processes, and stimulates sales.

Large enterprises further distinguish themselves by facilitating the integration of BNPL services with their existing suite of financial products, including credit cards, insurance offerings, and banking services. This integration not only saves users time but also enhances overall convenience, making BNPL a more appealing payment option.

Additionally, large enterprises are subjected to stringent regulatory frameworks and compliance requirements. This adherence to regulatory standards further solidifies their reputation as trusted providers of BNPL services, assuring consumers of their commitment to transparency, security, and compliance with financial regulations.

Global Buy Now Pay Later (BNPL) Market 2023–2032 (By Billion)

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Buy Now Pay Later Market – Regional Analysis

North America:

  • North America is a significant BNPL market, with the United States leading the way.
  • The region benefits from a strong e-commerce ecosystem and consumer familiarity with online shopping.
  • Regulatory oversight is increasing, with potential impacts on market dynamics and industry practices.

Europe:

  • Europe is a growing BNPL market, with countries like the United Kingdom, Germany, and Sweden showing strong adoption.
  • Regulatory changes, such as the EU’s revised Payment Services Directive (PSD2), impact the industry.
  • Partnerships between BNPL providers and retailers are driving growth.

Asia-Pacific:

  • The Asia-Pacific region, including Australia, India, and Southeast Asian countries, is experiencing rapid BNPL adoption.
  • The increasing popularity of online shopping and the youth population are key drivers.
  • Local players and global BNPL providers are competing for market share.

Latin America:

  • BNPL adoption is on the rise in Latin America, particularly in countries like Brazil and Mexico.
  • Economic growth, a growing middle class, and expanding e-commerce contribute to market growth.
  • Local regulations and currency fluctuations can influence the industry.

Middle East and Africa:

  • The Middle East and Africa are emerging markets for BNPL services.
  • The growth of e-commerce and increased consumer access to digital payments are driving adoption.
  • Regulatory frameworks are evolving to accommodate BNPL services.

Global Buy Now Pay Later (BNPL) Market 2023–2032 (By Enterprise Size)

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List of the prominent players in the Buy Now Pay Later Market:

  • Affirm Inc.
  • Afterpay Pty Ltd (Block Inc.)
  • Billie GmbH
  • Klarna Bank AB
  • LatitudePay Australia Pty Ltd
  • Laybuy Holdings Limited
  • LazyPay Private Limited (PayU)
  • Openpay Group
  • Payl8r
  • Paypal Holdings Inc.
  • Splitit Payments Ltd.
  • Zip Co Limited
  • Others

The Buy Now Pay Later Market is segmented as follows:

By Channel

  • Online
  • Point of Sale (POS)

By Enterprise Size

  • Large Enterprises
  • Small and Medium Enterprises

By End Use

  • Consumer Electronics
  • Fashion and Garment
  • Healthcare
  • Leisure and Entertainment
  • Retail
  • Others

Regional Coverage:

North America

  • U.S.
  • Canada
  • Mexico
  • Rest of North America

Europe

  • Germany
  • France
  • U.K.
  • Russia
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe

Asia Pacific

  • China
  • Japan
  • India
  • New Zealand
  • Australia
  • South Korea
  • Taiwan
  • Rest of Asia Pacific

The Middle East & Africa

  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Table of Contents

  • Chapter 1. Preface
    • 1.1 Report Description and Scope
    • 1.2 Research scope
    • 1.3 Research methodology
      • 1.3.1 Market Research Type
      • 1.3.2 Market research methodology
  • Chapter 2. Executive Summary
    • 2.1 Global Buy Now Pay Later Market, (2024 – 2033) (USD Billion)
    • 2.2 Global Buy Now Pay Later Market : snapshot
  • Chapter 3. Global Buy Now Pay Later Market – Industry Analysis
    • 3.1 Buy Now Pay Later Market: Market Dynamics
    • 3.2 Market Drivers
      • 3.2.1 Consumer Convenience
      • 3.2.2 Reduced Cart Abandonment
      • 3.2.3 Accessibility and Inclusivity
      • 3.2.4 Interest-Free Periods
      • 3.2.5 Retail Partnerships
      • 3.2.6 Education Sector Adoption
      • 3.2.7 Automotive Industry Utilization
      • 3.2.8 Subscription-Based Services
      • 3.2.9 Changing Consumer Behavior
      • 3.2.10 Enhanced User Experience
      • 3.2.11 Partnerships and Collaborations
      • 3.2.12 Regulatory Support.
    • 3.3 Market Restraints
    • 3.4 Market Opportunities
    • 3.5 Market Challenges
    • 3.6 Porter’s Five Forces Analysis
    • 3.7 Market Attractiveness Analysis
      • 3.7.1 Market attractiveness analysis By Channel
      • 3.7.2 Market attractiveness analysis By Enterprise Size
      • 3.7.3 Market attractiveness analysis By End Use
  • Chapter 4. Global Buy Now Pay Later Market- Competitive Landscape
    • 4.1 Company market share analysis
      • 4.1.1 Global Buy Now Pay Later Market: company market share, 2022
    • 4.2 Strategic development
      • 4.2.1 Acquisitions & mergers
      • 4.2.2 New Product launches
      • 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
      • 4.2.4 Research and development and Regional expansion
    • 4.3 Price trend analysis
  • Chapter 5. Global Buy Now Pay Later Market – Channel Analysis
    • 5.1 Global Buy Now Pay Later Market overview: By Channel
      • 5.1.1 Global Buy Now Pay Later Market share, By Channel, 2022 and – 2033
    • 5.2 Online
      • 5.2.1 Global Buy Now Pay Later Market by Online, 2024 – 2033 (USD Billion)
    • 5.3 Point of Sale (POS)
      • 5.3.1 Global Buy Now Pay Later Market by Point of Sale (POS), 2024 – 2033 (USD Billion)
  • Chapter 6. Global Buy Now Pay Later Market – Enterprise Size Analysis
    • 6.1 Global Buy Now Pay Later Market overview: By Enterprise Size
      • 6.1.1 Global Buy Now Pay Later Market share, By Enterprise Size, 2022 and – 2033
    • 6.2 Large Enterprises
      • 6.2.1 Global Buy Now Pay Later Market by Large Enterprises, 2024 – 2033 (USD Billion)
    • 6.3 Small and Medium Enterprises
      • 6.3.1 Global Buy Now Pay Later Market by Small and Medium Enterprises, 2024 – 2033 (USD Billion)
  • Chapter 7. Global Buy Now Pay Later Market – End Use Analysis
    • 7.1 Global Buy Now Pay Later Market overview: By End Use
      • 7.1.1 Global Buy Now Pay Later Market share, By End Use, 2022 and – 2033
    • 7.2 Consumer Electronics
      • 7.2.1 Global Buy Now Pay Later Market by Consumer Electronics, 2024 – 2033 (USD Billion)
    • 7.3 Fashion and Garment
      • 7.3.1 Global Buy Now Pay Later Market by Fashion and Garment, 2024 – 2033 (USD Billion)
    • 7.4 Healthcare
      • 7.4.1 Global Buy Now Pay Later Market by Healthcare, 2024 – 2033 (USD Billion)
    • 7.5 Leisure and Entertainment
      • 7.5.1 Global Buy Now Pay Later Market by Leisure and Entertainment, 2024 – 2033 (USD Billion)
    • 7.6 Retail
      • 7.6.1 Global Buy Now Pay Later Market by Retail, 2024 – 2033 (USD Billion)
    • 7.7 Others
      • 7.7.1 Global Buy Now Pay Later Market by Others, 2024 – 2033 (USD Billion)
  • Chapter 8. Buy Now Pay Later Market – Regional Analysis
    • 8.1 Global Buy Now Pay Later Market Regional Overview
    • 8.2 Global Buy Now Pay Later Market Share, by Region, 2022 & – 2033 (USD Billion)
    • 8.3. North America
      • 8.3.1 North America Buy Now Pay Later Market, 2024 – 2033 (USD Billion)
        • 8.3.1.1 North America Buy Now Pay Later Market, by Country, 2024 – 2033 (USD Billion)
    • 8.4 North America Buy Now Pay Later Market, by Channel, 2024 – 2033
      • 8.4.1 North America Buy Now Pay Later Market, by Channel, 2024 – 2033 (USD Billion)
    • 8.5 North America Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033
      • 8.5.1 North America Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033 (USD Billion)
    • 8.6 North America Buy Now Pay Later Market, by End Use, 2024 – 2033
      • 8.6.1 North America Buy Now Pay Later Market, by End Use, 2024 – 2033 (USD Billion)
    • 8.7. Europe
      • 8.7.1 Europe Buy Now Pay Later Market, 2024 – 2033 (USD Billion)
        • 8.7.1.1 Europe Buy Now Pay Later Market, by Country, 2024 – 2033 (USD Billion)
    • 8.8 Europe Buy Now Pay Later Market, by Channel, 2024 – 2033
      • 8.8.1 Europe Buy Now Pay Later Market, by Channel, 2024 – 2033 (USD Billion)
    • 8.9 Europe Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033
      • 8.9.1 Europe Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033 (USD Billion)
    • 8.10 Europe Buy Now Pay Later Market, by End Use, 2024 – 2033
      • 8.10.1 Europe Buy Now Pay Later Market, by End Use, 2024 – 2033 (USD Billion)
    • 8.11. Asia Pacific
      • 8.11.1 Asia Pacific Buy Now Pay Later Market, 2024 – 2033 (USD Billion)
        • 8.11.1.1 Asia Pacific Buy Now Pay Later Market, by Country, 2024 – 2033 (USD Billion)
    • 8.12 Asia Pacific Buy Now Pay Later Market, by Channel, 2024 – 2033
      • 8.12.1 Asia Pacific Buy Now Pay Later Market, by Channel, 2024 – 2033 (USD Billion)
    • 8.13 Asia Pacific Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033
      • 8.13.1 Asia Pacific Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033 (USD Billion)
    • 8.14 Asia Pacific Buy Now Pay Later Market, by End Use, 2024 – 2033
      • 8.14.1 Asia Pacific Buy Now Pay Later Market, by End Use, 2024 – 2033 (USD Billion)
    • 8.15. Latin America
      • 8.15.1 Latin America Buy Now Pay Later Market, 2024 – 2033 (USD Billion)
        • 8.15.1.1 Latin America Buy Now Pay Later Market, by Country, 2024 – 2033 (USD Billion)
    • 8.16 Latin America Buy Now Pay Later Market, by Channel, 2024 – 2033
      • 8.16.1 Latin America Buy Now Pay Later Market, by Channel, 2024 – 2033 (USD Billion)
    • 8.17 Latin America Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033
      • 8.17.1 Latin America Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033 (USD Billion)
    • 8.18 Latin America Buy Now Pay Later Market, by End Use, 2024 – 2033
      • 8.18.1 Latin America Buy Now Pay Later Market, by End Use, 2024 – 2033 (USD Billion)
    • 8.19. The Middle-East and Africa
      • 8.19.1 The Middle-East and Africa Buy Now Pay Later Market, 2024 – 2033 (USD Billion)
        • 8.19.1.1 The Middle-East and Africa Buy Now Pay Later Market, by Country, 2024 – 2033 (USD Billion)
    • 8.20 The Middle-East and Africa Buy Now Pay Later Market, by Channel, 2024 – 2033
      • 8.20.1 The Middle-East and Africa Buy Now Pay Later Market, by Channel, 2024 – 2033 (USD Billion)
    • 8.21 The Middle-East and Africa Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033
      • 8.21.1 The Middle-East and Africa Buy Now Pay Later Market, by Enterprise Size, 2024 – 2033 (USD Billion)
    • 8.22 The Middle-East and Africa Buy Now Pay Later Market, by End Use, 2024 – 2033
      • 8.22.1 The Middle-East and Africa Buy Now Pay Later Market, by End Use, 2024 – 2033 (USD Billion)
  • Chapter 9. Company Profiles
    • 9.1 Affirm Inc.
      • 9.1.1 Overview
      • 9.1.2 Financials
      • 9.1.3 Product Portfolio
      • 9.1.4 Business Strategy
      • 9.1.5 Recent Developments
    • 9.2 Afterpay Pty Ltd (Block Inc.)
      • 9.2.1 Overview
      • 9.2.2 Financials
      • 9.2.3 Product Portfolio
      • 9.2.4 Business Strategy
      • 9.2.5 Recent Developments
    • 9.3 Billie GmbH
      • 9.3.1 Overview
      • 9.3.2 Financials
      • 9.3.3 Product Portfolio
      • 9.3.4 Business Strategy
      • 9.3.5 Recent Developments
    • 9.4 Klarna Bank AB
      • 9.4.1 Overview
      • 9.4.2 Financials
      • 9.4.3 Product Portfolio
      • 9.4.4 Business Strategy
      • 9.4.5 Recent Developments
    • 9.5 LatitudePay Australia Pty Ltd
      • 9.5.1 Overview
      • 9.5.2 Financials
      • 9.5.3 Product Portfolio
      • 9.5.4 Business Strategy
      • 9.5.5 Recent Developments
    • 9.6 Laybuy Holdings Limited
      • 9.6.1 Overview
      • 9.6.2 Financials
      • 9.6.3 Product Portfolio
      • 9.6.4 Business Strategy
      • 9.6.5 Recent Developments
    • 9.7 LazyPay Private Limited (PayU)
      • 9.7.1 Overview
      • 9.7.2 Financials
      • 9.7.3 Product Portfolio
      • 9.7.4 Business Strategy
      • 9.7.5 Recent Developments
    • 9.8 Openpay Group
      • 9.8.1 Overview
      • 9.8.2 Financials
      • 9.8.3 Product Portfolio
      • 9.8.4 Business Strategy
      • 9.8.5 Recent Developments
    • 9.9 Payl8r
      • 9.9.1 Overview
      • 9.9.2 Financials
      • 9.9.3 Product Portfolio
      • 9.9.4 Business Strategy
      • 9.9.5 Recent Developments
    • 9.10 Paypal Holdings Inc.
      • 9.10.1 Overview
      • 9.10.2 Financials
      • 9.10.3 Product Portfolio
      • 9.10.4 Business Strategy
      • 9.10.5 Recent Developments
    • 9.11 Splitit Payments Ltd.
      • 9.11.1 Overview
      • 9.11.2 Financials
      • 9.11.3 Product Portfolio
      • 9.11.4 Business Strategy
      • 9.11.5 Recent Developments
    • 9.12 Zip Co Limited
      • 9.12.1 Overview
      • 9.12.2 Financials
      • 9.12.3 Product Portfolio
      • 9.12.4 Business Strategy
      • 9.12.5 Recent Developments
    • 9.13 Others.
      • 9.13.1 Overview
      • 9.13.2 Financials
      • 9.13.3 Product Portfolio
      • 9.13.4 Business Strategy
      • 9.13.5 Recent Developments
List Of Figures

Figures No 1 to 26

List Of Tables

Tables No 1 to 77

Report Methodology

In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:

Preliminary Data Mining

On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.

Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.

Statistical Model

Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.

Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.

Some of the variables taken into account for forecasting are as follows:

• Industry drivers and constraints, as well as their current and projected impact

• The raw material case, as well as supply-versus-price trends

• Current volume and projected volume growth through 2030

We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.

Primary Validation

This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.

Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.

All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:

• Market leaders

• Suppliers of raw materials

• Suppliers of raw materials

• Buyers.

The following are the primary research objectives:

• To ensure the accuracy and acceptability of our data.

• Gaining an understanding of the current market and future projections.

Data Collection Matrix

Perspective Primary research Secondary research
Supply-side
  • Manufacturers
  • Technology distributors and wholesalers
  • Company reports and publications
  • Government publications
  • Independent investigations
  • Economic and demographic data
Demand-side
  • End-user surveys
  • Consumer surveys
  • Mystery shopping
  • Case studies
  • Reference customers


Market Analysis Matrix

Qualitative analysis Quantitative analysis
  • Industry landscape and trends
  • Market dynamics and key issues
  • Technology landscape
  • Market opportunities
  • Porter’s analysis and PESTEL analysis
  • Competitive landscape and component benchmarking
  • Policy and regulatory scenario
  • Market revenue estimates and forecast up to 2030
  • Market revenue estimates and forecasts up to 2030, by technology
  • Market revenue estimates and forecasts up to 2030, by application
  • Market revenue estimates and forecasts up to 2030, by type
  • Market revenue estimates and forecasts up to 2030, by component
  • Regional market revenue forecasts, by technology
  • Regional market revenue forecasts, by application
  • Regional market revenue forecasts, by type
  • Regional market revenue forecasts, by component

Prominent Players:

  • Affirm Inc.
  • Afterpay Pty Ltd (Block Inc.)
  • Billie GmbH
  • Klarna Bank AB
  • LatitudePay Australia Pty Ltd
  • Laybuy Holdings Limited
  • LazyPay Private Limited (PayU)
  • Openpay Group
  • Payl8r
  • Paypal Holdings Inc.
  • Splitit Payments Ltd.
  • Zip Co Limited
  • Others

FAQs

The key factors driving the Market are Consumer Convenience, Reduced Cart Abandonment, Accessibility and Inclusivity, Interest-Free Periods, Retail Partnerships, Education Sector Adoption, Automotive Industry Utilization, Subscription-Based Services, Changing Consumer Behavior, Enhanced User Experience, Partnerships and Collaborations And Regulatory Support.

The “End Use” category dominated the market in 2022.

The key players in the market are Affirm Inc., Afterpay Pty Ltd (Block Inc.), Billie GmbH, Klarna Bank AB, LatitudePay Australia Pty Ltd, Laybuy Holdings Limited, LazyPay Private Limited (PayU), Openpay Group, Payl8r, Paypal Holdings Inc., Splitit Payments Ltd., Zip Co Limited, Others.

“North America” had the largest share in the Buy Now Pay Later Market.

The global market is projected to grow at a CAGR of 27% during the forecast period, 2023-2032.

The Buy Now Pay Later Market size was valued at USD 6.1 Billion in 2022.

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