San Francisco, 04 March 2030: The Report Payment Security Market Size, Share & Trends Analysis Report By Solution (Encryption, Tokenization, Fraud Detection & Prevention), By Platform, By Organization, By Application, By Region, And Segment Forecasts, 2023 - 2030
The global payment security market size is expected to reach USD 64.34 billion by 2030, expanding at a CAGR of 13.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth of the market can be attributed to the rise in fraudulent activities in recent years. According to a survey by FIS, in April 2021, there has been a considerable increase in financial fraud throughout the pandemic, with customers increasingly embracing online services when conducting purchases. According to the FIS report, an increasing number of consumers are falling victim to cyber fraudsters, with 34% of surveyed participants reporting that they had experienced financial fraud in the past year.
AI-powered fraud detection and prevention systems are being developed to identify and prevent payment-related fraudulent activities in real-time. These systems can analyze large amounts of data and identify suspicious behavior patterns, providing a proactive approach to security. Additionally, AI powered fraud detection and prevention systems can learn from previous fraud attempts and continuously adapt their models to stay ahead of emerging fraud trends. By doing so, they can provide a proactive approach to security and help prevent fraudulent activities before they occur.
Payment security providers are constantly evolving and adapting to new technologies and threats to ensure secure and seamless transactions. For instance, 3-D Secure is a security protocol used by credit card companies to authenticate online transactions. This protocol requires the cardholder to enter a unique password or biometric information to verify their identity, providing an additional layer of security for online transactions.
The COVID-19 pandemic had a positive impact on the market. The pandemic increased awareness among consumers regarding the trends and the need for being cautious about sharing personal and financial information online. As a result, consumers have become more vigilant about protecting their payment information and have increasingly demanded more robust security measures from merchants and payment providers.
The growth is driven by the need to protect consumer data, comply with regulations, and keep up with the evolving threat landscape. With advancements in technology, cybercriminals are becoming more sophisticated in their attacks. This has driven the development of new and more advanced payment security solutions to keep up with the evolving threat landscape.
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Additionally, the rising adoption of smartphones and the growing preference for contactless payments worldwide are expected to drive the market's growth. Mobile payment options are fast and convenient to use. Customers can make payments quickly and easily using their smartphones without needing cash or physical cards. This convenience has made mobile payments an attractive option for consumers.
Payment Security Market Report Highlights
• The fraud detection & prevention segment dominated the market in 2022. With the growth of digital payments and e-commerce, there has been a significant increase in the number of fraudulent transactions. As a result, there is a growing need for fraud detection and prevention tools to protect consumers and businesses from financial losses. • The POS based/mobile based segment dominated the market in 2022. With the growing use of smartphones and tablets, consumers increasingly purchase through mobile devices. This has led to a surge in demand for mobile-based payment solutions, which has, in turn, driving the growth of the POS based/mobile based segment. • The large enterprises segment dominated the market in 2022. Large size enterprises have complex payment systems with multiple channels and payment methods. They need to ensure that all these systems are secure and integrated to provide their customers with a seamless and secure payment experience. • The retail & e-commerce segment dominated the market in 2022. Retail and e-commerce businesses involve a large number of transactions every day. With the increase in online shopping, the number of transactions has increased, making it more vulnerable to cyberattacks and fraud, which makes the adoption of payment security solutions essential in retail & e-commerce businesses. • The North America dominated the market in 2022. The mature IT sector in North America fosters technical advancement and innovative business models, that are leveraged to accelerate the adoption of a digital payment platform. Moreover, data security providers are collaborating with multiple financial institutions to create secure, open, decentralized, and robust platforms in response to the growing threat of cybercrime.
The rise of fintech has positively affected the payment security market. Fintech companies have invested heavily in developing new and improved payment security trends, such as two-factor authentication, biometric authentication, and tokenization. These trends or payment measures are designed to enhance the security of digital payments and protect against fraud. Additionally, fintech companies have raised awareness about the importance among consumers. As a result, customers are more likely to demand secure payment options and are willing to pay a premium for secure transactions.
Regulatory compliances play a crucial role by establishing standards and requirements that must be met to ensure the confidentiality, integrity, and availability of payment systems and data. Compliance with these regulations helps to prevent fraud, data breaches, and other security incidents that can compromise sensitive financial information and damage the reputation of payment providers and merchants. For instance, Payment Card Industry Data Security Standard (PCI DSS) sets requirements for organizations that process, transmit, or store cardholder data. PCI DSS compliance includes network security, access controls, data encryption, and regular testing and monitoring of payment systems.
Data breaches are becoming more frequent and severe with cybercriminals using increasingly sophisticated methods to steal sensitive information such as payment card data, Personally Identifiable Information (PII), and financial records. This puts individuals and businesses at risk of financial loss, identity theft, and reputational damage. The market must address these concerns to maintain trust in digital payment systems and prevent fraud. One of the main challenges for providers is to keep pace with cybercriminals' constantly evolving tactics and strategies. As these cybercriminals become more sophisticated in their methods, payment security providers must develop more advanced solutions to protect against them. This requires significant investment in research and development to stay ahead of emerging threats, which can be costly.
Inclusion of network intelligence allows mobile network operators (MNOs) to achieve efficient network management and cross spectrum protection.This report includes a comprehensive analysis of the adoption of AI in telecom, highlighting the major technology trends and opportunities available across the ecosystem.To Request A Sample Copy Of This Report @: https://www.radiantinsights.com/research/artificial-intelligence-insight-series-artificial-intelligence-in-telecom/request-sampleCompetitive AnalysisThis section includes a study of key telecom companies and other emerging entities in the AI in telecom space.
Some of the key entities included in the report are AT, Verizon, Nokia, Huawei, Ciena, Rakuten, and Orange.Further, the report includes approximately 40 startups that are concentrating on various technological aspects like SON, cloud-native, network analytics, AI hardware, and interference cancellation.
Some of the startups reported include Cellwize, Altiostar, CujoAI, Kumu Networks, GenXcomm, Cambricon, Pivotal Commware, Metawave, Senseon, Parallel Wireless, Galgus, and Affirmed Networks.M AnalysisAn assessment of the acquisition trends since 2014 provides insights about the technology drivers in the AI-driven telecom market.
The key technologies include cloud-native solutions, security, virtualized RAN, SON, and network analytics.Distribution of these deals over the years provides an overview of the roadmap that the acquirers are following and highlights the unique value proposition behind the mergers and acquisitions.The prominent participants in the space include telecom solution providers, MNOs, startups and investors.
Some of the major acquirers include Nokia, Ericsson, Cisco and Zephyrtel.Key Insights:Network intelligence-related solutions are becoming the new norm for deriving insights from massive network data.The growing need for hyper-automation in communication networks is setting the stage for SON technologies that will help drive autonomous networks of the future.Virtualization of networks is fueling the need for cloud-native solutions, ranging from the ones that provide security, to the one's constituting the network core.The telecom solution providers, including names like Ericsson, Nokia, and Cisco, led the charts with the highest number of AI-based acquisitions.Emerging companies took a lead role in solving the problem of RF spectrum interference.Key questions addressed in the report:How innovative AI solutions are making an impact in the telecom value chain?What are the challenges and issues addressed by the implementation of AI algorithms in the telecom industry?What are the emerging use cases and business models that are driving the adoption of AI?Who are the key enablers for AI technology in the industry?Who are the frontrunners, and what are their implementations strategies?What is the current industry adoption status of AI in telecom?Which are the disruptive entities that can be potential targets for driving AI in telecom?Since 2014, what are the acquisition trends for AI in telecom?What are opportunities for the telecom companies to build a strong roadmap for the future of autonomous networks?How can companies from other sectors tap into the AI in telecom market?To Browse Full Research Report @: https://www.radiantinsights.com/research/artificial-intelligence-insight-series-artificial-intelligence-in-telecomTable of Contents 1.
Overview of the Telecom Value Chain Participants1.2.
Data Bridge Market Research has provides the Qualitative and informative knowledge by adding titled “Industrial Services Market by By Type (Engineering and Consulting, Installation and Commissioning, Operational Improvement and Maintenance), Application (Distributed Control System, Programmable Logic Controller, Supervisory Control and Data Acquisition, Electric Motors and Drives, Valves and Actuators, Human Machine Interface, Manufacturing Execution System, Safety Systems), Industry (Oil & Gas, Chemicals, Automotive, Pharmaceuticals, Metals & Mining, Food & Beverages, Energy & Power, Aerospace & Defense, Others), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) Analysis and Forecast, 2019 – 2025”.
In this report, Researchers have analyzed Strength, Weakness, opportunities and threats in the market and provides the unbiased picture of the market with the Qualitative and informative knowledge.
The Industrial Services Market report additionally states import/trade utilization, free market activity figures, cost, value, volume and gross edges.
Global industrial services market is expected to register a substantial CAGR of 6.10% in the forecast period of 2019-2026.
The report contains data from the base year of 2018 and the historic year of 2017For In-Depth Review | Get Sample PDF@ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-industrial-services-marketMarket Definition: Global Industrial Services Market Industrial Services are the services that companies provide for the industries as needed.
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Open IoT Platform Market SizeThe global open IoT platform market 2020, according to MRFR, is poised to reach roughly USD 5.96 billion by 2025, expanding at 15.5% CAGR over the review period (2019—2025).Market ScenarioOver the forecast era, the open IoT platform market is expected to show significant growth prospects in this rapidly evolving environment of technology.
Data security and privacy concerns are, however, the factor that hampers market growth over the forecast period.FREE PDF@ https://www.marketresearchfuture.com/sample_request/3896Segmental AnalysisThe global market for the open IoT platform was segmented into component, deployment, organizational size and vertical industry.The global open IoT platform market was segmented by component into hardware, software , and services.
The services segment was further classified as professional and managed services.The market was categorized by deployment into cloud (private, public, and hybrid) and on-premise.The global open IoT platform market was segmented into SMEs and large organizations by organization sizeBy vertical industry the market was divided into government, healthcare , education, manufacturing , retail, electricity & utilities, automotive, and IT & Telecom.Regional AnalysisThe global open IoT application market regional research is being studied for Asia-Pacific, Europe, Middle East & Africa, North America and South America.Thanks to the prevalence of early adopters of the new technologies in this area North America dominates the global open IoT platform segment.
The growth is also attributed to the involvement of a large number of existing core players such as Google, Inc., IBM Corporation, and Oracle Corporation leading this region's open IoT platform market.
The area also has a well-established infrastructure in addition to this, and is expected to be a key factor in the development of the open IoT platform sector.
Those are some of the aspects that are responsible for the growth of the region 's global open IoT platform market over the forecast period.Countries throughout Europe include Germany, France and Great Britain.
