Global Buy Now Pay Later Market Share Size, and Future Landscape
MarkNtel Advisors, a leading market research company, presents its latest Global Buy Now Pay Later Market Research Report By Sales Channel (Online, Point of Sales), By Application (Healthcare, Clothing & Accessories, Media & Entertainment, Travel & Leisure Consumer Electronics) and other forecasts [2024-2030]. This well-curated report contains in-depth information about the industry. In this comprehensive study, we have meticulously compiled every critical detail, catering to the Buy Now Pay Later Market’s major and minor elements. Our focus extends to factors influencing market growth, encompassing historical, current, and projected data, emerging trends, technological advancements, key insights, recent developments, potential constraints, and various other factors that could significantly shape the industry’s trajectory in the foreseeable future.
Buy Now Pay Later Market Insight:
The Global Buy Now Pay Later Market size was valued at around USD 7.2 billion in 2022 & is projected to grow at a CAGR of about 18.5% during the forecast period, i.e., 2024-30.
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Competitive Landscape – Global Buy Now Pay Later Market
This section provides a comprehensive understanding of market dynamics, highlighting the significant contributions of major companies and their strategies for achieving success and sustainability. By examining the competitive landscape, clients can gain valuable insights into the driving forces behind the growth and evolution of the Buy Now Pay Later Industry. Let’s familiarize ourselves with the key players in this competitive landscape: Klarna, Afterpay, Affirm Inc., Laybuy Group Holdings Limited, PayPal Holding Inc., Kredivo, Zip Co. Ltd., Splitit, Sezzel, Amazon, Flipkart, Scalapay S.R.L., Perpay Inc., Paytm, PayI8r, Others.
Global Buy Now Pay Later Market Trends
Rising Digitalization in Business-to-Business Payments: Businesses in various industries are eagerly integrating the buy now pay later option on their websites in order to capitalize on benefits such as the ability to generate a high volume of sales leads through increased traffic on the e-commerce platform. Therefore, the integration of buy now pays later as an alternative is estimated to offer lucrative opportunities for driving the revenue growth of businesses by offering customers flexible payment options & attracting payback discounts and other offerings, including loyalty programs, etc. Further, realizing the benefits of buy now pay later adoption, several online selling merchants have engaged with the service providers to generate sales leads.
- In 2021, Bonsai announced a partnership with Afterpay to allow Bonsai customers to purchase products directly within BuzzFeed content via Bonsai & pay for their purchase in four interest-free installments with Afterpay.
Moreover, the rising business-to-business partnerships to cater to the emerging consumer demand for digitalized payment alternatives keeping in view the merchants’ interest, are anticipated to boost the revenue growth of buy now pay later service providers in the coming years.
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Segmentation Summary – Buy Now Pay Later Market
The summary of Buy Now Pay Later market segmentation gives a quick look at different parts of the market. It helps businesses understand what customers like and where they are. By breaking down the market into smaller groups based on things like what people buy and where they live, companies can make better plans to sell their products. This summary is a simple guide to understanding the market better. The segmentations of the market are:
By Sales Channel
> Online
> Point of Sales
By End User Age Group
> 18-34 years
> 35-54 years
> Above 54 years
By Application
> Healthcare
> Clothing & Accessories
> Media & Entertainment
> Travel & Leisure
> Consumer Electronics
> Others
“Based on the Application: consumer electronics acquired a major Global Buy Now Pay Later Market share during 2019-22.”
Geographical landscape
On the geographical front, the Buy Now Pay Later Market expands across:
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Of all regions globally, the North America Buy Now Pay Later Market has been witnessing notable growth since 2019.
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Key Questions Addressed in this Buy Now Pay Later Market Report:
- What are the emerging trends in the Buy Now Pay Later Industry?
- What are the growth challenges faced by businesses in the Buy Now Pay Later Industry?
- How can companies capitalize on opportunities within the market of Buy Now Pay Later?
- What are the regulatory factors impacting the growth of the Buy Now Pay Later Market?
- What are some of the top Buy Now Pay Later companies in the global market?
- What is the current size of the Buy Now Pay Later Market and how much is it will grow in the next few years?
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