Payment Orchestration Platform Market size is predicted to reach $6 billion by 2030, growing at a CAGR of 23.2% during the forecast period 2023-2030 according to the latest market research report published by IndustryARC. Rising demand for omnichannel payment solutions and Integration with other payment technologies such as cryptocurrency and blockchain are poised to propel the market growth, finds IndustryARC in its recent report, titled “Payment Orchestration Platform Market Size, Share & Trends Analysis Report, 2023–2030”

Request Sample Research Report: https://www.industryarc.com/pdfdownload.php?id=800260

Asia Pacific to Register Highest Growth:

The Payment Orchestration Platform industry in this region is expanding due to the increasing investments in AI, the adoption of digital payments, the growth of e-commerce and the rapidly developing fin-tech ecosystem are the major factors propelling the market growth in this region. As per United Nations ESCAP report, China is estimated to reach AI investments of approximately $26.6 billion by 2026 due to the rise of sectors using AI such as digital transformation and policies

Payment Orchestration Platform Market 2023-2030: Scope of the Report

Get Access to the Full Research Report:  https://www.industryarc.com/Research/payment-orchestration-platform-market-research-800260

Payment Orchestration Platform Market Report – Key Takeaways:

B2C Registered Fastest Growth

The B2C segment had more than one-third of the market share in 2022. This growth is attributed to the increasing adoption of mobile payments, the rising demand for seamless and secure payment experiences among consumers and the need for businesses to provide a wide range of payment options to their customers are driving the growth in the payment orchestration platform market.

E-Commerce to Register the Highest Growth

E-commerce is analyzed to grow with the highest CAGR of 24.0% during the forecast period owing to the increasing internet penetration, the rise of mobile devices and changing consumer behavior.

Additionally, increasing adoption of online shopping and businesses are seeking payment orchestration platforms that can provide a seamless and secure payment experience for their customers. These factors are further growing demand for e-commerce.

North America is Leading the Market

The North American region held a major market share of 37% in 2022. The strong presence in this region can be attributed to the advanced technological infrastructure, the high adoption of digital payment solutions and the presence of several key players such as PayPal, Stripe and Square in the payment orchestration platform market.

In 2022, as per Civil Science Digital Payments Business Statistics, over 36% of PayPal and 20% of apple pay are majorly used digital wallets in the U.S., which further increases the demand for digital payment in this region.

Burgeoning Opportunities in Integrating with Other Payment Technologies

Payment Orchestration Platform (POP) solutions can offer businesses more options for accepting payments and provide a more seamless payment experience for customers by integrating with other payment technologies such as mobile payments.

As more consumers use their mobile devices to make payments, integrating with mobile payment platforms like Apple Pay and Google Pay can provide businesses with a convenient and secure payment option creating opportunities in the payment orchestration platform market. 

Purchase this Premium Report: https://www.industryarc.com/purchasereport.php?id=800260

Key Opportunity Analysis:

Rising Popularity of Buy Now Pay Later (BNPL) Platforms

BNPL payment method is becoming increasingly popular among consumers particularly younger generations who are more likely to use credit cards. Merchants are also seeing the benefits of offering BNPL options to their customers. 

Merchants can attract more customers and increase their average order value, as customers are more likely to make larger purchases when they can spread the cost over time by offering BNPL. 

BNPL platforms such as Klarna, after-pay, and Affirm; allow consumers to split their purchases into smaller payments over time, often with no interest or fees. In September 2022, as per World Economic Forum, approximately 360 million people are using BNPL 2022 and it is anticipated to reach about 900 million by 2027.

High Demand for Omnichannel Payment Solutions

Omni-channel payment solutions allow businesses to accept payments through multiple channels such as in-store, mobile, online and even via social media platforms. This provides customers with a seamless payment experience across all channels and enhances the customer’s overall shopping experience.

With the growth of e-commerce and the rise of mobile payments, consumers expect a consistent payment experience, regardless of the channel they use. Offering an omnichannel payment solution can help businesses meet these expectations, attract more customers and increase sales.

In July 2022, according to an ESW report, approximately 90% of customers expect brands to offer omnichannel experiences over their preferred touch points, in-store and online channels.

Leveraging Artificial Intelligence (AI) and Machine Learning (ML)

AI and ML in payment orchestration platforms are fraud detection and provide businesses with more efficient and secure payment solutions. AI and ML are being used to automate payment processes, such as invoice processing and payment reconciliation. By automating these processes, businesses can save time and reduce manual errors, increasing efficiency and accuracy.

Additionally, chatbots and virtual assistants powered by AI and ML can provide customers with quick and accurate answers to their payment-related queries and improve the overall customer experience. As per the Comptia report, over 63% of companies intend to increase their investment in artificial intelligence and machine learning in 2023.

If you have any questions, please feel free to contact our experts at: https://www.industryarc.com/reports/request-quote?id=800260

The Report also Covers the Following Areas:

Payment Orchestration Platform Market Size and Forecast

Payment Orchestration Platform Market Trends

Payment Orchestration Platform Market Analysis by Type

Payment Orchestration Platform Market 2023-2030: Key Highlights

CAGR of the market during the forecast period 2023-2030

Value Chain Analysis of key stakeholders

Detailed Analysis of market drivers and opportunities during the forecast period

Payment Orchestration Platform Market size estimation and forecast

Analysis and predictions on end users’ behavior and upcoming trends

Competitive landscape and Vendor Market Analysis including offerings, developments, and financials

Comprehensive Analysis of challenges and constraints in the Payment Orchestration Platform Market

Covid and Ukrainian Crisis Impact:

The Covid-19 pandemic has accelerated the adoption of digital payments as consumers are increasingly turning to online shopping to avoid physical contact. This has led to a surge in demand for payment orchestration platforms that can provide businesses with an easy way to accept digital payments across multiple channels.

On the other hand, the pandemic has impacted the supply chains, which led to disruptions and delays in the delivery of hardware components and software updates impacting the growth of the market.

The conflict between Russia and Ukraine has led to fluctuations in currency exchange rates and affected businesses that operate in the affected regions. Payment orchestration platforms that offer multi-currency support and exchange rate management may become more popular in the market as businesses seek to mitigate currency risks.

To Get a Customized Industry Analysis, Speak with our Research Analyst: https://connect.industryarc.com/lite/schedule-a-call-with-our-sales-expert

List of Key Market Players in the Payment Orchestration Platform Market:

The Global Payment Orchestration Platform Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

1. IXOLIT Group
2. Cell Point Digital
3. APEXX Fintech Limited
4. Payoneer Inc.
5. Rebilly
6. Modo Payments
7. Spreedly Inc.
8. Amadeus IT Group SA
9. aye4fin GmbH
10. BNT Soft
11. ZOOZ A PayU Company
12. Corey
13. Ingenico
14. Akurateco
15. Ikajo International

Related Reports:

Virtual Payments Market – Virtual Payments Market is projected to grow at a CAGR of 18.9% from 2023 to 2030, owing to the increased use of technology in financial transactions and the rise in various e-commerce platforms are expected to accelerate the virtual payment market.

Bitcoin Payments Ecosystem Market – Bitcoin Payments Ecosystem Market is projected to grow at a CAGR of 20.13% from 2023 to 2030, owing to the adoption of physical wallets for cryptocurrency payment and the cryptocurrencies stored in these wallets being kept offline which reduces the risk of being hacked. These ongoing security developments and ease of payment are anticipated to propel the Bitcoin payment gateway market growth.

Mobile Payments Market – Mobile Payments Market is projected to grow at a CAGR of 18.9% from 2023 to 2030, owing to increased adoption of mobile POS and a shift to contactless payments due to covid-19 pandemic.

Mobile Money Market – Mobile Money Market is projected to grow at a CAGR of 24.9% from 2023 to 2030, owing to the increased use of technology in financial transactions and rise in various e-commerce platforms and increasing adoption of non-cash transactions in mobile banking will likely create the demand for Mobile Money industry.

About IndustryARC™:

IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.

Contact Us:

Mr. Venkat Reddy

IndustryARC

Email: [email protected]

USA: (+1) 518-282-4727

Web: https://www.industryarc.com

Follow us on: LinkedIn | Facebook | Twitter

Tags: Payment Orchestration Platform Market, Payment Orchestration Platform Market Size, Payment Orchestration Platform Market trends, Payment Orchestration Platform Market Forecast, Payment Orchestration Platform Market Report, Payment Orchestration Platform Market Research, Payment Orchestration Platform Market Top Companies, Payment Orchestration Platform Market Key Companies