Pune, India, Jan. 28, 2022 (GLOBE NEWSWIRE) — The global 3D secure pay authentication market size was USD 601.3 million in 2020. The market is projected to grow from USD 667.1 million in 2021 to USD 1,539.0 million in 2028 at a CAGR of 12.7% in the 2021-2028 period.
This information is provided by Fortune Business Insights, in its report, titled, “3D Secure Pay Authentication Market, 2021-2028.”
As per the research conducted by our expert analysts, the amount of online payment scams in the e-commerce industry are rising along with the surging online sales. Moreover, in order to aid e-commerce companies and merchants to fortify their assets from online scam rackets, vital players are unveiling 3-D Secure (3DS) online payment solutions.
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COVID-19 Impacts:
Growth in Amount of Payment Scams amid COVID-19 Resulted in Sudden Market Progress
The COVID-19 pandemic disturbed each factor of the 3D secure pay authentication industry and led to high scams registrations by consumers. Furthermore, according to the Federal Trade Commission (FTC), customers in the U.S. lost USD 246.0 million in 2020 owing to online shopping scams. In order to alleviate such deceits, all online payment services firms functioning in Europe were compelled to integrate 3DS2 into their registers by the end of the year 2020.
To get to know more about the short-term and long-term impact of COVID-19 on this market,
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Report Coverage:
We have performed an exclusive research that contains information grounded on the famous bottom-up and top-down approach. Our analysts have conducted precise basic research as well as secondary research to validate the approximate size of the 3D secure pay authentication market. The data applied to portray shares for multiple segments at the national, domestic, and international levels is extracted from wide-ranging interviews with numerous professionals. Our analysts have also mined information from sponsored catalogues, industry newsletters, SEC filings, and several similar modes.
Segmentation:
Based on type, the market is classified into access control server, merchant plug-in, and others. Merchant plug-in (MPI) captures maximum market share.
On the basis of application, the market is segregated into merchant & payment processors and banks.
Geographically, the market is branched into five major regions such as North America, South America, Europe, the Middle East & Africa, and Asia Pacific.
REPORT SCOPE & SEGMENTATION:
| Report Coverage | Details |
| Forecast Period | 2021 -2028 |
| Forecast Period 2021 -2028 CAGR | 12.7% |
| 2028 Value Projection | 1,539.0 million |
| Base Year | 2020 |
| Market Size in 2021 | 667.1 million |
| Historical Data for | 2017-2019 |
| No. of Pages | 150 |
| Segments covered | Type; Application; and Geography |
| Growth Drivers | Growing Adoption of Payment Secure Platforms in Hotel Industry is Driving Market Growth |
| Rise in Number of Payment Fraud During COVID-19 Spread Led to Exponential Growth of Market | |
| Pitfalls & Challenges | Lack of Global Standards and Cross-Border Payments to Hinder Growth |
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Drivers and Restraints:
Increasing Online Deceitful Happenings to Augment Usage of Secure Pay Service
With emerging payment courses, augmented e-commerce usage, refined broadband admittance, and the presentation of novel technologies, the cashless payment system is rising at a sudden rate. In past few years, digital channels have transformed each feature of companies, ranging from alternative transportation, social media to dating uses to food delivery, as well as vacation rentals.
The application of mobile usage has amplified even further this year as a consequence of nation-wide lock-downs, with people buying everything from groceries to automobiles via online platforms. This is expected to bolster the 3D secure pay authentication market growth.
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Regional Insights:
North America to Hold Largest Market due to Expanding E-Commerce Sector
North America holds maximum 3D secure pay authentication market share and is projected to endure its domination in the upcoming years. The U.S. is the biggest ecommerce market in the world and is also anticipated to trigger great prospect in the impending future.
Europe is estimated to observe highest CAGR during the forecast period. Currently, the U.K. is the only European nation sustaining Address Verification Service (AVS) as well as 3D secure pay authentication.
Germany is regarded as one of the most diversified market in terms of payment means.
Competitive Landscape:
Strategic Planning Employed by Companies Set to Fortify their Market Value
All the vital players present in the 3D secure pay authentication sector have implemented novel strategy of incorporating raw material manufacturing along with self-possessed delivery service. This permits businesses to attain a strategic benefit in regards of budget effectiveness, sanctioning them to rise their revenue share. Corporations recurrently incline towards R&D activities in order to form novel technologies to preserve its competitive environment and fulfil altering end-user necessities.
Industry Developments:
September 2020: Visa Canada declared the extension of Click to Pay in Canadian market to empower customers to make secure, prompt transactions through a range of shops and platforms. Click to Pay is an EMV Secure Remote Commerce solution that enables effortless and safe payment services to its users.
List of Key Players Mentioned in the Report:
- Visa Inc. (California, U.S.)
- Mastercard Incorporated (New York, U.S.)
- The American Express Company (New York, U.S.)
- Broadcom Inc. (California, U.S.)
- Modirum (Tallinn, Estonia)
- SIA S.p.A. (Milan, Italy)
- Fiserv, Inc. (Wisconsin, U.S.)
- Cardknox Development, Inc. (New Jersey, U.S.)
- Marqeta, Inc. (California, U.S.)
- ENTERSEKT (Stellenbosch, South Africa)
- Discover Financial Services (Illinois, U.S.)
Detailed Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Key Takeaways
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Forces Analysis
- Industry Regulations
- Global 3D Secure Pay Authentication Key Players Market Share Insights and Analysis, 2020
- Key Market Insights and Strategic Recommendations
- Primary Interview Responses
- Companies Profiled (Covered for key 10 players only)
- Overview
- Key Management
- Headquarters etc
- Offerings/Business Segments
- Key Details (Key details are subjected to data availability in public domain and/or on paid databases)
- Employee Size
- Key Financials
- Past and Current Revenue
- Gross Margin
- Geographical Share
- Business Segment Share
- Recent Developments
- Overview
- Annexure / Appendix
- Global 3D Secure Pay Authentication Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
- By Type (Value)
- Access Control Server
- Merchant Plug-in
- Others
- By Type (Value)
- Global 3D Secure Pay Authentication Market Size Estimates and Forecasts (Quantitative Data), By Segments, 2017-2028
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