Wilmington, Delaware, Oct. 26, 2023 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Buy Now Pay Later Market By Channel (Online and POS), Application (Retail Goods, Media & Entertainment, Healthcare & Wellness, Automotive, Home Improvement and Others), and End User (Generation X, Generation Z/Millennials and Baby Boomers): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to the report, the global buy now pay later industry generated at $90.69 billion in 2020, and is expected to generate $3.98 trillion by 2030, witnessing a CAGR of 45.7% from 2021 to 2030.
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52 – Tables
32 – Charts
290 – Pages
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2021–2030 |
| Base Year | 2020 |
| Market Size in 2022 | $ 90.69 billion |
| Market Size in 2032 | $ 3.98 trillion |
| CAGR | 45.7 % |
| No. of Pages in Report | 290 |
| Segments Covered | Channel, Application, and End User |
| Drivers | Digitization of Buy Now Pay Later |
| Opportunities | Increase in Adoption of Online Payment Method Among the People Affordable and Convenient Payment Service of Buy Now Pay Later Platforms |
| Restraints | competitive intensity of competitors threat of substitutes bargaining power of the buyers |
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Drivers, Restraints and Opportunities
The global buy now pay later market is driven by surge in e-commerce industry growth along with the convenience and economical affordability of buy now pay later payment services. On the other hand, excessive delayed and returned payment charges limit the market to some extent. Moreover, a rise in demand for delayed payments during online purchases and an increase in expenditure on luxury items is anticipated to pave the way for multiple opportunities in the industry.
The Media & Entertainment Segment to Manifest Highest CAGR During the Forecast Period
Based on application, the media & entertainment segment is expected to grow at a highest CAGR of 50.1% during the forecast period. However, the retail goods segment dominated market in 2020, contributing for more than two-fifths of the total market share. Moreover, the retail goods segment anticipated to dominate the global buy now pay later market from 2021 to 2030.
The PoS Segment to Witness the Highest CAGR Through 2030
Based on channel, the PoS segment would show a highest CAGR of 49.0% during the forecast period. However, the online segment held the major market share in 2020, accounting for more than four-fifths of the global buy now pay later market, and is projected to led the market from 2021 to 2030.
Asia-Pacific Region to Maintain the Dominant Share
Based on region, the Asia-Pacific dominated the market share in terms of revenue in 2020, accounting for nearly half global buy now pay later market. Moreover, this region is expected to register the fastest CAGR of 47.8% from 2021 to 2030 and to dominate the market share by 2030.
Key Players in the Industry
- Payl8r (Social Money Ltd.)
- Afterpay
- Laybuy Group Holdings Limited
- Quadpay
- Klarna Bank AB
- PayPal Holdings Inc.
- Perpay
- Sezzle
- Affirm Holdings Inc.
- Splitit
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Key Benefits For Stakeholders
- The study provides an in-depth analysis of global buy now pay later market forecast along with the current trends and future estimations to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on global buy now pay later market share is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the buy now pay later market size from 2021 to 2030 is provided to determine the market potential.
Buy Now Pay Later Market Key Segments
By Channel
- Online Channel
- POS Channel
By Application
- Retail Goods
- Media & Entertainment
- Healthcare & Wellness
- Automotive
- Home Improvement
- Others
By End User
- Generation X
- Generation Z/Millennials
- Baby Boomers
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
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