DUBLIN--(BUSINESS WIRE)--The "Global Buy Now Pay Later Business and Investment Opportunities - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics - Q1 2022 Update" report has been added to ResearchAndMarkets.com's offering.
According to the Q4 2021 BNPL Survey, Global BNPL payment industry is expected to grow by 60.7% on annual basis to reach US$ 409901.0 million in 2022.
Medium to long term growth story of the Global BNPL industry remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 32.7% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 255147.1 million in 2021 to reach US$ 2240349.1 million by 2028.
The BNPL market in the Asia-Pacific region recorded significant growth in the last four to six quarters. Asia is home to the leading BNPL companies in the world. Countries such as Australia, India, China, Singapore, Indonesia, and Malaysia recorded strong demand for BNPL payment options in this period. A large young population is primarily driving the demand and market growth. The publisher expects that with the rising demand for BNPL, the region will likely attract more investment in the short to medium-term perspective.
In Europe, buy now, pay later BNPL is becoming increasingly popular among consumers owing to the rise in consumer preference for deferred payment for online purchases. Consumers prefer BNPL due to the affordability and convenience it offers. BNPL, consumer credit, or after pay enables consumers to pay money only after meeting their expectations. Some key players offering BNPL service include Klarna, PayPal Credit, and Splitit in the region.
The adoption of the BNPL products and services has been on a constant rise in the Africa & Middle East region over the last four to eight quarters. Several startups and global BNPL players are offering their innovative products and deferred payment services for consumers in the region. Moreover, the adoption from merchants is also on the rise as more and more consumers are demanding the BNPL payment method for both in-store as well as online purchases.
Over the last four to eight quarters, the popularity of BNPL products has surged significantly in the United States. The global pandemic and the growing need for splitting the cost of purchases over a period of time has led to widespread adoption of BNPL products such as the one offered by Klarna, Afterpay, Affirm, and PayPal in the country. Moreover, the growth in volumes for these BNPL providers has been driven in part by the boom in online shopping during the global pandemic.
Reasons to buy
- In-depth Understanding of Buy Now Pay Later Market Dynamics: Understand market opportunities and key trends along with forecast (2019-2028). Understand market dynamics through essential KPIs such as Gross Merchandise Value, Volume, and Average Value Per Transaction.
- Insights into Opportunity by end-use sectors - Get market dynamics by end-use sectors to assess emerging opportunity across various end-use sectors.
- Develop Market Specific Strategies: Identify growth segments and target specific opportunities to formulate BNPL strategy; assess market specific key trends, drivers, and risks in the BNPL industry.
- Get Insights into Consumer Attitude and Behaviour: Drawing from proprietary survey results, this report identifies and interprets key Buy Now Pay Later KPIs, including spend by age, gender, and income level.
Companies Mentioned
- Afterpay
- Akulaku
- Alipay
- Amazon Pay Later
- Art Money
- AsiaPay
- Atome
- Baitiao
- BillEase
- Brighte
- Capital Float
- Cashalo
- FavePay Later
- Fen Fu
- Finazar
- Flipkart Pay Later
- Fundiin
- GoJek Paylater
- Grab
- Happay
- Home Credit
- Hoolah
- Huabei
- humm
- Indodana PayLater
- JD Finance
- Klarna
- Kredivo
- Laybuy
- LazyPay
- LexinFintech
- LimePay
- Naver
- octifi
- OlaMoney Postpaid
- OpenPay
- Paidy
- Paypal
- Payright
- Paytm Postpaid
- PineLabs
- PowerBuy
- Rely
- Sezzle
- Shopee PayLater
- Simpl
- Splitit
- Tencent
- TendoPay
- UnaPay
- UnionPay International
- Wowmelo
- ZestMoney
- Zilingo
- Zippay
- Alma
- Arvato Financial Solutions - Afterpay
- Bill Pay
- Billink
- Cashper
- Clearpay
- Halva
- Klarna
- Littlewoods
- Mash
- Mash and Domec JV
- Payl8r
- PFC
- RatePay
- Revo
- Scalapay
- ScalePay
- Splitit
- Sweetpay
- Sweetpay
- Tinkoff
- Viabill
- Wibond
- Cleo
- ADDI
- Wipei
- DiniePay
- Aspira
- Carbon
- Cashew
- Cdcare
- Fawry
- Flexpay Technologies
- Julla
- Lipa Later
- Miti
- Mobicred
- Payflex
- Payjustnow
- PayQart
- postpay
- Shahry
- Spotti
- Tabby
- tamara
- TymeBank
- Valeo
For more information about this report visit https://www.researchandmarkets.com/r/guhj00
