Buy Now Pay Later Market is expected to grow at a CAGR of 26.0% during the forecast period. Buy Now Pay Later Market is expected to reach US$ 20.05 Bn. in 2027 from US$ 5.01 Bn. in 2022
Several business owners around the world have been using the Buy Now, Pay Later payment platform to finance large pieces of equipment, purchase raw materials, and pay employee salaries, which is driving the global growth of the Buy Now Pay Later Market. Furthermore, the youth are increasingly adopting Buy Now, Pay Later payment technology because it offers several benefits such as purchasing a high-priced smartphone and laptop, paying tuition fees and stationery products, and paying the canteen bill, which accelerates the Buy Now Pay Later Market growth.
Buy Now Pay Later Market Report Scope and Research Methodology
The report provides a qualitative and qualitative segmentation analysis of the Buy Now Pay Later Market. Market segmentation facilitates understanding of the Buy Now Pay Later market structure. The regional insights highlight the use of Buy Now Pay Later in the regions, with factors such as drivers, restraints, challenges, and opportunities influencing market growth. The report includes a competitive landscape that provides detailed information on the positions of key players in the Buy Now Pay Later industry in terms of partnerships, business growth, and acquisitions.
Data from the Buy Now Pay Later market was gathered using primary and secondary research methods. Secondary research sources include company annual reports, presentations, OEM vehicle sales publications, technical handbooks, and technical articles. Primary interviews were conducted with market experts and supply side representatives from across the region. The bottom-up approach was used to estimate the size and volume of the Buy Now Pay Later market. The report also includes Porter's five forces analysis, which aids in understanding the Buy Now Pay Later market from various angles.
Buy Now Pay Later Market Report Overview:
The market research is based on major organization forecasts as well as market statistics. Buy Now Pay Later Market research includes sales growth figures at several global, regional, and national market levels, as well as a competitive landscape for predicted periods and individual firm valuations. During the forecast period, the report provides growth variables, current Buy Now Pay Later market share, various types, technologies, applications, and regional penetrations by 2027.
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Buy Now Pay Later Market Key Players:
Affirm Holdings Inc. (California, United States)
Afterpay (Melbourne, Australia)
Klarna Bank AB (Stockholm, Sweden)
Laybuy Group Holdings Limited
PayPal Holdings Inc. (New Zealand)
Payl8r (Social Money Ltd.)
Perpay (Manchester)
Quadpay (New York, United States)
Sezzle (Minnesota, United States)
Splitit (New York, United States)
Billie (Germany)
Buy Now Pay Later Market Dynamics:
The primary factors driving the global Buy Now Pay Later Market trends are the affordable and convenient payment services provided by Buy Now, Pay Later platforms, as well as growth in the global e-commerce industry. However, high late and returned payment fees stifle market growth. On the contrary, an increase in demand for delayed payments for online purchases, as well as an increase in adult spending on luxury goods, is likely to create profitable opportunities for the Buy Now, Pay Later industry.
Buy Now Pay Later Market Segmentation:
The Buy Now Pay Later Market is classified into two channels: online and point-of-sale (PoS). The online channel segment will lead the market in 2021, accounting for more than 64.0 percent of global sales. Several companies around the world are forming alliances to focus on the adoption of the fastest-growing online payment options, such as Buy Now, Pay Later, as part of their post-pandemic revival plans.
The Point-of-Sale channel is expected to expand rapidly over the forecast period. Many businesses are focusing on providing PoS-BNPL financing solutions in order to improve the customer experience and grow customer relationships. Additionally, businesses offer clients transparent loyalty-driven PoS installment financing plans.
The Buy Now Pay Later Market is divided into two categories based on enterprise size: small and medium enterprises (SMEs) and large enterprises. The large enterprise segment led the market in 2021, accounting for more than 61.0% of total revenue. Large-scale businesses are increasingly implementing BNPL payment solutions because they offer clients a flexible and low-cost payment method for purchasing high-value goods. The ease of shopping also encourages people to purchase more items, increasing sales. As a result, BNPL helps large organizations significantly improve their customer experience.
The Buy Now Pay Later Market is classified into BFSI, Consumer Electronics, Fashion and Apparel, Healthcare, Retail, Media, and Entertainment. Consumer electronics is expected to have the largest market share in 2020, with increased online sales due to the COVID-19 lockdown on various consumer electronics such as smart TVs, smartphones, gaming consoles, and others. The Indian consumer goods industry is valued at USD 537.50 billion, with the digital economy and payment flexibility driving the market's growth in the coming years.
Buy Now Pay Later Market Regional Analysis:
Key Questions answered in the Buy Now Pay Later Market Report are:
Key offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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Buy Now Pay Later Market , Europe Outpatient Surgical Procedures Market
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business.
Buy Now Pay Later Market , Buy Now Pay Later Market Size , Buy Now Pay Later Market Share , Buy Now Pay Later Market Growth , Buy Now Pay Later Market Trends
Mar 24, 2023