Global TFT LCD Panel Market to Reach US$ 190 Billion by 2023

The global TFT LCD panel market is currently witnessing a positive growth. This can be attributed to various factors which include growing popularity of LCDs, rising trend of 4K televisions and flourishing gaming industry.

A TFT LCD, also known as thin-film-transistor liquid-crystal display, is an active-matrix LCD which utilises the TFT technology for enhancing image qualities like contrast and addressability. Every pixel on a TFT LCD panel has a separate transistor present on the glass itself which offers more control on images. All the pixels on a screen are configured in a row and column format and each of them is connected to an amorphous silicon transistor. This technology provides sharp images and also consumes less power as the screen is very small in size. Moreover, TFT LCD panels are lightweight, less prone to reflection and provide wider angle of view. A new research report by IMARC Group, titled “TFT LCD Panel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was worth US$ 140 Billion in 2017. The report further anticipates the global TFT LCD panel market to cross US$ 190 Billion by 2023, at a projected CAGR of around 5.5% over the forecast period.

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Global TFT LCD Panel Market Drivers/Constraints:

• In the recent years, LCDs have gained popularity owing to their favourable properties including less power consumption, compact size and low price in comparison to other display panels. This is one of the major factors which is driving the growth of the market.
• The increasing demand for larger and 4K televisions, fuelled by improving standards of living and inflating disposable incomes, represents another key factor for the market growth.
• Easy installation of LCD glass substrates, technological advancements along with a worldwide boost in gaming industry are some of the other factors which are positively influencing the growth of the market.
• However, the availability of alternative display panels like LED coupled with the high costs of production as well as raw materials are considered to be the few obstacles which are impeding the growth of the global TFT LCD panel market.

Size Insights:

Based on size, the market has been segmented into large size, and medium and small size TFT LCD display panels. Among these, large size TFT LCD display panels represent the largest segment, accounting for the majority of the total share.

Application Insights:

The market has been further segregated on the basis of application which includes television, mobile phones, mobile PC, monitors and automotive. Currently, television dominates the market, holding the majority of the market share.

Regional Insights:

On a geographical front, North America enjoys a leading position in the global TFT LCD market. This is due to relatively fast adoption of new technologies as well as flourishing industrial and automotive industries across the region. North America is followed by Asia Pacific, Europe, Middle East and Africa, and Latin America.

Competitive Landscape:

The market is concentrated with the presence of few small and large manufacturers who compete in terms of prices and quality. Some of the leading players operating in the market are:

• LG
• Samsung
• INNOLUX
• AUO
• SHARP

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Global Home Audio Equipment Market Overview 2018, Demand by Regions, Share, Size and Forecast to 2023

The global home audio equipment market is growing at a healthy rate as there is an upsurge in the demand for wireless systems due to urbanisation, technological developments and expansion in the entertainment industry.

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Over the years, innovations in technology has consistently helped humans in making lives simpler and convenient. One such technology being home audio equipment which is installed inside the home, aimed to imitate the commercial theatre performance. It imparts a bona fide theatre experience and replicates the realistic scenario by enhancing the audio quality. Some of the components of home audio equipment include shelf stereos, surround sound receiver and a projection system. A new research report by IMARC Group, titled “Home Audio Equipment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was worth US$ 17 Billion in 2017. The report further anticipates the market to cross US$ 23 Billion by 2023, at a projected CAGR of more than 5% over the forecast period.

Market Drivers/Constraints:

• The primary factor for the growth of the home audio equipment market is a rise in the streaming of audio content via wireless systems, for instance, Bluetooth which can be connected to a portable device.
• Further, a shift in the preferences of consumers towards a high-performance home theatre system and expanding need for an improved user experience are positively influencing the market growth.
• With the development of the internet of things (IoT) technology worldwide, there has been a soaring demand for devices which are compatible with different devices. This has broadened the growth aspects of the global home audio equipment market.
• Flourishing entertainment industry, increasing disposable incomes, urbanisation and industrialisation rates, technological advancements and product innovations by manufacturers are some of the other factors which are strengthening the demand for home audio equipment.
• However, high audio frequency coming from home audio equipment may injure the inner ear structures and cause noise-induced hearing loss (NIHL) within the longer run. This acts as a major constraint for the growth of the home audio equipment market.

Product Type Insights:

On the basis of type, the market is segmented as Blu-ray and DVD players, home theatre in-a-box (HTIB) and soundbars. Among these, Blu-ray and DVD players currently exhibit a clear dominance in the market.

Application Insights:

Based on application, the major segments include television and computers. Home audio equipment is extensively used in television as well as computers on account of its ability to amplify the volume emitted by the standard device and cater convenience as well as luxury within the domestic sphere.

Distribution Channel Insights:

On the basis of distribution channel, supermarkets and hypermarkets represent the largest segment as they offer easy accessibility and convenience to the consumers. They are followed by specialty stores, convenience stores and online stores.

Regional Insights:

On a geographical front, North America presently holds the majority of the market share owing to the inclination towards technologically advanced entertainment products in the region. North America is followed by Europe, Asia Pacific, Middle East and Africa, and Latin America.

Competitive Landscape:

The market is highly concentrated with the presence of established manufacturers who compete in terms of prices. There is an intense competition in the market which makes it difficult for new entrants to survive. Some of the leading players operating in the market are:

• LG
• Qualcomm
• Sony Corporation
• Yamaha Corporation
• Bose Corporation

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Global Electric Motor Market Overview 2018: Growth, Size, Opportunities, Analysis And Forecast Research Report to 2023

The expansion of the global electric motor market is influenced by various factors like mounting urbanisation and industrialisation, worldwide availability of electricity, low maintenance and consistent technological advancements.

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Electric motor is an equipment that transforms the electric energy into mechanical energy. They work on the principle of electromagnetic induction as per which a current induced conductor undergoes force in the presence of magnetic field. On the basis of requirement of the voltage, electric motors can be classified as low, medium and high voltage electric motors. A new research report by IMARC Group, titled “Electric Motor Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018–2023”, estimates that the market was more than US$ 93 Billion in 2017. The report further anticipates the global electric motor market to approximately US$ 123 Billion by 2023, at a projected CAGR of nearly 5% over the forecast period.

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Market Drivers/Constraints:

• Some of the major factors for the growth of the electric motor market are rising urbanisation and industrialisation rates, technological advancements and worldwide availability of electricity. Moreover, the installation cost of an electric motor is comparatively lower than their counterparts like fossil-fuel engines.
• In addition, numerous industries are shifting towards automation as it is highly efficient, accelerates productivity as well as enhances quality and flexibility. As automation requires the use of electric motor, it has highly contributed to its global demand.
• Further, electric motors have several applications in different industries. The benefits, such as longevity, low energy requirement, less maintenance expenditure and high tolerance to varying voltages have led to the growth in the demand for electric motors.
• However, there are several factors that hamper the market growth. For instance, many heavy electric motors are not portable.

Efficiency Insights:

On the basis of efficiency, the electric motor market is segmented as standard efficiency, high efficiency, premium efficiency and super premium efficiency. The standard efficiency electric motor enjoys the dominant share in the electric motor market.

Application Insights:

Pumps and fans represents the largest application segment accounting for the majority of the total global consumption. Pumps and fans is followed by compressors and others.

End-Use Insights:

Based on end-use, commercial HVAC industry represents the biggest market for electric motors. It is followed by the food, beverage and tobacco industry, mining industry and utilities.

Regional Insights:

On a geographical front, Asia-Pacific represents the leading market for electric motors accounting for the majority of the total global consumption volume. Asia-Pacific is followed by North America, Western Europe, Eastern Europe, Central & South America, and Africa and Middle East.

Competitive Landscape:

The electric motor market is fragmented with the presence of numerous small and large manufacturers who compete in terms of prices and quality. There is an intense competition in the market which makes it difficult for new players to enter. Some of the leading players operating in the market are:

• ABB Group
• Siemens AG
• WEG SA
• Nidec Corporation
• TECO Middle East

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GCC Electric Motor Market Research Report: https://www.imarcgroup.com/gcc-electric-motor-market

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Global Advertising Market Overview 2018, Market Drivers, Demand by Regions, Size and Forecast to 2023

The global advertising market is currently growing at a healthy rate. Some of the factors that have stimulated the global advertising market are increasing population, rising disposable incomes, improving standards of living, technological advancements, and a strong demand from developing regions.

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Advertising is a form of mass media communication which helps in endorsing a product, service or idea. It enhances the consumers’ awareness regarding the new product launches and assists them in their purchasing decisions. Some of the traditional mass media communication sources are newspapers, television, radio and magazines, while contemporary advertising means include social media, blogs, websites, text messages, etc. A new research report by IMARC Group, titled “Global Advertising Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, estimates that the market was approximately US$ 734 Billion in 2017. The report further anticipates the market to cross US$ 1197 Billion by 2023, at a projected CAGR of nearly 9% over the forecast period.

Market Drivers/Constraints:

• Over the years, consumers’ expenditure on entertainment as well as media has increased owing to the rising disposable incomes and improving standards of living. Growing access to internet, magazines, newspapers, television and movies have strengthened the growth of the global advertising market.
• The rising use of gadgets such as smartphones, tablets and laptops, has led to the advent of digital advertising. This acts as another major factor that has been proactive in accelerating the growth of the advertising market. 
• Some of the other factors proliferating the demand for advertising include increasing population, rapid urbanisation, technological advancements, and a strong demand from developing regions.
• However, there are several factors that hamper the market growth. For instance, the cost of the advertising is added to the total market price of a product which leads to an unnecessary price hike. In addition, an advertiser may present a distorted view of the reality and confuse the buyer.

Regional Insights:

The growth of the global advertising market varies from region to region. Currently, developing regions, such as Western Europe and North America, are witnessing a slow growth, whereas, emerging regions like Asia Pacific, Eastern and Central Europe, Middle East/Africa and Latin America are comparatively experiencing a faster growth.

Competitive Landscape:

The market is concentrated in nature with the presence of established players who compete in terms of massive capital investments and high advertising budgets. The strong competition in the market makes it difficult for new entrants to survive. Some of the leading players working in the market are:

• WPP Group PLC
• Omnicom Group
• Publicis Groupe
• Interpublic Group of Companies
• Dentsu

Browse related reports:

Global Television Advertising Market Research Report: https://www.imarcgroup.com/television-advertising-market

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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Home Security System Market Share, Size, Growth, Trends and Forecast Report 2018–2023

The global home security system market has been experiencing a sustained growth over the past several years. This can be accredited to the growing technological advancements and the rising security concerns across the globe.

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Home security system is a network of integrated electronic devices designed to detect and defend against burglars and other potential home intruders. It works on a simple principle of securing all entry points by deploying sensors throughout the home which can be monitored by a control panel. A new research report by IMARC Group, titled “Home Security System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018–2023”, estimates that the market reached a value of more than US$ 24 Billion in 2017. The report further anticipates the market to cross US$ 36 Billion by 2023, at a projected CAGR of around 9% over the forecast period.

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Global Home Security System Market Drivers/Constraints:

• In the recent years, the rise in the crime rates, burglaries, and home invasions have led to increased security concerns among the consumers. This has accelerated the demand for enhanced home security system worldwide.
• The emergence of smart phones and the advancement in technology such as wireless integration and other “smart home” features which provide greater flexibility and convenience to the consumers are expected to be the other major drivers propelling the growth of home security system market across the globe.
• The improvement in network infrastructure, broadband and internet penetration along with the introduction of home automation, service bundling and intelligent building are also contributing towards boosting the market for home security systems.
• The high installation cost of home security systems and their maintenance has placed the technology out of reach from many consumers, thereby restraining the growth of the global home security system market. Moreover, the low rate of IT literacy, particularly in the under-developed nations is also marring the market’s growth.

Product Type Insights:

On the basis of type, the market is segmented into security cameras, electronic and smart locks, sensors and detectors, alarms, security solutions and DIY home security. Currently, security cameras are the most popular product type, on account of their various advantages such as high video quality, Wi-Fi connectivity, accessibility on Android and iOS devices through apps, and replaceable and rechargeable batteries.

Application Insights:

Based on application, the market is segregated into the commercial, residential, public and industrial sectors.

Regional Insights:

Region-wise, the report covers North America, Asia-Pacific, Europe, Middle East and Africa, and Latin America. Currently, North America represents the largest region due to the availability of low-cost devices and the increasing usage of advanced technologies and digitalization.

Competitive Landscape:

The market is highly fragmented with the presence of several small and large manufacturers who compete in terms of cost and quality. The innovation in technology and products has led to an intense competition among the leading manufacturers of the market. Some of the key players operating in the market are:

• Bosch Security Systems, Inc.,
• Honeywell Security Group
• Johnson Controls, Inc.,
• Assa Abloy
• UTC Climate Controls & Security

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UAE Electric Motor Market Overview 2018: Growth, Demand and Forecast Research Report to 2023

The UAE electric motor market has witnessed a positive growth during the past several years. This can be accredited to the growing energy consumption in the country coupled with government initiatives to increase power generation.

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According to the latest report by IMARC Group, “UAE Electric Motor Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the UAE electric motor market reached a value of around US$ 185 Million in 2016. An electric motor runs on the basic principle of electromagnetic induction and converts electrical energy into mechanical energy. Electric motors are classified into two types, typically AC motors and DC motors. These motors are extensively used in industrial, residential, commercial and other (transportation, agriculture) end-use sectors for varied applications. This can be attributed to the various benefits offered by electric motors such as low initial cost and maintenance requirement, long operating life, high efficiency, etc.

Highlights of the UAE electric motor market:

• Rising energy consumption in the UAE represents the key growth inducing factor.
• HVAC represents the largest end-use segment, accounting for majority of the total share.
• The market is expected to reach a volume of US$ 265 million by 2022.

The UAE electric motor market is driven by the rising energy consumption in the UAE, due to which the government is actively planning to increase its power generation. Apart from this, the market is driven by the rising demand from the paper and pulp, cement, desalination, water and wastewater sectors, wherein electric motors are used in pumps and compressors. Additionally, growing popularity of electric vehicles on account of rising environment concerns in the region has facilitated the market growth. The thriving food and beverage industry has also contributed to the demand for electric motors since they are found in equipment such as dishwashers, coffee grinders, microwaves, electric can openers, and others. Some of the other factors contributing to the demand for electric motors include rising automation in various industrial sectors, massive investments and technological advancements in the region. Owing to the aforementioned factors, the market is expected to reach a value of US$ 265 million by 2022, growing at a CAGR of around 6.2% during 2017-2022.

The UAE electric motor market has been segmented on the basis of application. Some of its major applications are found in pumps and fans, compressors and others. The market is also segmented on the basis of end-use, covering HVAC, oil and gas, food and beverage, mining, water and utilities, and others. Based on efficiency, the market is segmented into IE2, IE3, IE1 and IE4. On analyzing the competitive landscape of the market, it is found that ABB, Siemens, WEG Industries, NIDEC Corporation and TECO Middle East Electrical & Machinery Co. Ltd. are the key players operative in the market.

Read full report with TOC: https://www.imarcgroup.com/uae-electric-motor-market

The report by IMARC Group has examined the UAE electric motor market on the basis of:

Application:

• Pumps and fans
• Compressors
• Others

End-use:

• HVAC
• Oil and gas
• Food and beverage
• Mining
• Water and utilities
• Others

Efficiency:

• IE2
• IE3
• IE1
• IE4

Key Players:

• ABB, Siemens
• WEG Industries
• NIDEC Corporation
• TECO Middle East Electrical & Machinery Co. Ltd.

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Saudi Arabia Electric Motor Market Research Report: https://www.imarcgroup.com/saudi-arabia-electric-motor-market

GCC Electric Motor Market Research Report: https://www.imarcgroup.com/gcc-electric-motor-market

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Microgrid Market 2018: Region Wise Analysis of Top Players in Market By Types and Application

The global microgrid market has witnessed a steady growth over the past few years. The increasing adoption of microgrids can be accredited to the rising usage of renewable sources, rapidly growing industrialization and requirement of enhanced technologies for power generation and distribution.

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The latest report by IMARC Group, titled “Microgrid Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global microgrid market reached a value of US$ 15.3 Billion in 2016. Microgrids are integrated energy systems used to generate, distribute and regulate the flow of electrical power. They have the ability to store energy locally either in parallel or in isolation from the electric grids. Microgrids can be used to generate energy from both the renewable and the non-renewable sources. In addition, they also help in increasing the efficiency of the electric delivery system by reducing energy losses in transmission and distribution. On account of this, these systems are installed to increase the reliability of power distribution, reduce costs and encourage economic growth.

Highlights of the global microgrid market:

• The increasing usage of renewable sources is the key factor driving the growth of the market.
• Remote systems account for the majority of the total market share.
• North America dominates the market, holding the majority of the global share.

Microgrids can be used as a composition of multiple energy generation sources, such as solar, wind, biomass, geothermal, and fossil fuel, to generate and supply electricity to a local community, university, or a military base. This is anticipated to be the major driver of the microgrid market. Additionally, the lack of access to reliable grid electricity due to low electrification in the rural areas is another factor boosting the demand for microgrids. Moreover, increased need to strengthen energy security, rapidly increasing industrialization, requirement of enhanced technologies for power generation and distribution, and infrastructure development are some of the other factors facilitating the market growth. According to the report, the global microgrid market is further expected to reach a value of more than US$ 30 Billion by 2022, exhibiting a CAGR of nearly 12% during 2017-2022.

The market is segmented on the basis of energy source into natural gas, combined heat and power, Solar Photovoltaic (PV), and diesel. On the basis of application, the market is segregated into remote systems, institutional and campus, utility/community, defense and others, wherein remote systems account for the largest share. Region-wise, North America currently represents the leading market globally. Other major regions include Asia Pacific, Europe, Middle East and Africa, and Latin America. On evaluating the competitive landscape of the market, it is found that the key players are Lockheed Martin, ABB Ltd., General Electric, Eaton Corporation and Siemens.

Read full report with TOC: https://www.imarcgroup.com/microgrid-market

The report by IMARC Group has examined the global microgrid market on the basis of:

Energy Source:

• Natural Gas
• Combined Heat and Power
• Solar Photovoltaic (PV)
• Diesel
• Fuel Cell

Application:

• Remote Systems
• Institution and Campus
• Utility/Community
• Defense
• Others

Region:

• North America
• Asia Pacific
• Europe
• Middle East and Africa
• Latin America

Key Players:

• Lockheed Martin 
• ABB Ltd 
• General Electric 
• Eaton Corporation 
• Siemens

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Particle Size Analysis Market 2018: Region Wise Analysis of Top Players in Market By Types and Application

The global particle size analysis market has been witnessing a positive growth. This can be attributed to the growth in the pharmaceuticals industry, advancements in analysing technologies and rising applications in the field of nanotechnology.

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The latest report by IMARC Group, titled, “Particle Size Analysis Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, finds that the global particle size analysis market has reached a value of more than US$ 198 Million in 2016. Particle size analysis is a series of technical procedures which are performed for calculating average size of particles in an emulsion, aerosol, solid or suspension sample. The analysis is practiced for controlling the number of chemical reactions that take place when a product is being used. It can be achieved through several devices and remains an important process as it helps in determining the nature, behaviour and other properties of the material. Particle size analysis can be performed through different methods some of which can be applied for a wide range of samples whereas some methods are limited to specific applications.

Highlights of the global particle size analysis market:

• Increasing applications in the field of nanotechnology is one of the major factors stimulating the market growth.
• Medicine and healthcare industry holds the majority of the market share, representing the leading application segment.
• North America currently represents the largest market for particle size analysis

The growth of the global particle size analysis market is driven by increasing applications of particle size analysis in the field of nanotechnology. This process is being largely used in the production of newly constructed structures, semiconductor components and cosmetic products which, in turn, is contributing to the market growth. The demand for particle size analysis has also been rising due to the growth in the pharmaceuticals industry, where it is applied for maintaining quality of different medicines. Moreover, other factors such as technological development in processes of analysing along with rising demand in the emerging regions have strengthened the growth of the market. As a result, the global particle size analysis market is further expected to reach nearly US$ 266 Million, exhibiting a CAGR of 5% during 2017-2022.

On the basis of technology type, laser diffraction exhibits a clear dominance in the market, followed by dynamic light scattering (DLS), image analysis, and nanoparticle tracking analysis (NTA). Based on application, medicine and healthcare industry represents the largest application segment. It is followed by the mining and minerals, petrochemical, and food and beverages industry. Region-wise, North America currently accounts for the majority of the total global share. This is due to the increasing efforts taken by the government to find new technologies of particle size analysis. Other major markets include Europe, Asia Pacific, Latin America, and Middle East and Africa. The competitive landscape of the market has also been analysed with some of the key players operating in the market being Malvern Instruments Ltd., Horiba Ltd., Beckman Coulter Inc., Microtrac Inc. and Micromeritics Instruments.

Read full report with TOC: https://www.imarcgroup.com/particle-size-analysis-market

The report by IMARC Group has examined the global particle size analysis market on the basis of:

Technology Type:

• Laser Diffraction
• Dynamic Light Scattering (DLS)
• Image Analysis
• Nanoparticle Tracking Analysis (NTA)

Application:

• Medicine and Healthcare Industry
• Mining and Minerals Industry
• Petrochemical Industry
• Food and Beverages Industry

Region:

• North America 
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Key Players:

• Malvern Instruments Ltd.
• Horiba Ltd.
• Beckman Coulter Inc.
• Microtrac Inc.
• Micromeritics Instruments

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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Global Payment Gateways Market Overview 2017, Demand by Regions, Types and Analysis of Key Players

The global payment gateways market has witnessed a positive growth over the past several years. This can be accredited to the growing trend of online payments, increasing use of mobile wallets, and revenue strategies encouraging digitization.

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According to IMARC Group’s latest report, titled “Payment Gateways Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the global payment gateways market reached a value of about US$ 10 Billion in 2016. A payment gateway is an e-commerce service that facilitates a payment transaction by transferring information between a payment portal and the front-end processor or acquiring bank. Payment gateways mitigate the possibility of frauds as they utilize various tools to screen orders such as delivery address verification, AVS checks, computer finger printing technology, velocity pattern analysis, identity morphing detection, and geolocation. Nowadays, numerous vendors are adopting payment gateways since they are faster than manual processing and enable the customers to make purchases at any hour of the day without the inconvenience of waiting in long queues.

Highlights of the global payment gateways market:

• Increasing use of mobile wallets and growing e-commerce industry remain the key growth inducing factors.
• Large enterprises represent the biggest application segment.
• North America is the leading market, holding the largest share globally.

The global payment gateways market is driven by the growing importance of customer satisfaction and service on account of rising competition in the market. This has prompted the vendors to come up with strategies and innovative services, such as flexibility in ordering products and enabling different payment options using payment gateways. Moreover, companies are restructuring their businesses and revenue strategies by moving towards a digital approach. Sectors such as telecommunications, banking, financial services, healthcare, and retail are widely adopting payment gateway solutions, thereby providing a thrust to the market. Additionally, the market is driven by collaborations between different banks and retail vendors to provide attractive cashback offers to attract new customers and retain the existing ones. Apart from this, the emergence of mobile wallets has further boosted the market growth. Owing to the aforementioned forces, the market is expected to grow at a CAGR of around 9% during 2017-2022, reaching a value of around US$ 18 Billion by 2022.

The market has been segmented on the basis of applications into large enterprises, micro and small enterprises, and mid-sized enterprises. Currently, large enterprises account for the majority of the total share. On a regional-basis, the report covers North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Amongst these, North America represents the largest market, holding the largest share globally. On analyzing the competitive landscape, it is found that Worldpay Group, Wirecard, Adyen, Allied Wallet and PayPal are the key players operative in the market.

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The report by IMARC Group has examined the global payment gateways market on the basis of:

Applications:

• Large Enterprises
• Micro and Small Enterprises
• Mid-sized Enterprises

Region:

• North America
• Europe
• Asia Pacific
• Middle East and Africa
• Latin America

Key Players:

• Worldpay Group
• Wirecard
• Adyen
• Allied Wallet
• PayPal

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