Aug 21, 2019 (AmericaNewsHour) — The market is expected to grow at CAGR of 13.19% from 2018 to 2023 leading to a global revenue generation of USD 13.19 Bn in 2023.
The rise of payments in the digital and mobile channels has led to more sophisticated fraud across the Asia-Pacific region. A 2016 Consumer Fraud Survey showed more than a third of consumers in Australia, India and Singapore have experienced card fraud in the last five years.
The APAC region countries such as India, China and Japan have grown exponentially in the e-commerce domain. Indians have changed the way they transact and the country has become home to estimated 3,000 e-commerce hubs and more than 1,200 rural hubs, 390 export hubs and 2,000 import hubs. The rising demand of e-commerce services has been boosting the growth of payment security market due to the implementations of Europay MasterCard and Visa (EMV).
By solution, the market is segmented into encryption, tokenization, fraud detection and prevention.By service, the market is segmented into integration services, support services, and consulting services.By end-user, the market is segmented into retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and others.By regions, the market is divided into China, Japan, South Korea, India and rest of Asia Pacific
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Key growth factors
Asian governments are promoting developments in card acceptance infrastructure and in turn increasing debit and credit card usage in emerging markets. Branch and ATM growth rates from 2012-2014 in countries including China, India, Indonesia, Malaysia, Thailand, Philippines, Taiwan and Hong Kong show a fall in the numbers of branches.
Threats and key players
The payment business has become increasingly competitive. Growth in trade and investment flows between Asia and other parts of the world is driving demand for cross-border payments. However, new regulations and compliance requirements along with the current payment infrastructure do not support the more complex and holistic requirements of new regulations.
Asia-Pacific payment security technology providers are Visa, Inc., PayPal (Braintree), Cybersource, SISA, etc.
What’s covered in the report?
1. Overview of the Asia Pacific payment security market
2. Market drivers, and challenges in the Asia Pacific payment security market
3. Market trends in Asia Pacific payment security market
4. Historical, current and forecasted market size data for Asia Pacific market segmentation based on type of solution (encryption, tokenization, fraud detection and prevention) – revenue
5. Historical, current and forecasted market size data for Asia Pacific market segmentation based on End-user (retail, travel and hospitality, healthcare, IT and telecom, education, media and entertainment, and others) – by revenue
6. Historical, current and forecasted market size data of Asia Pacific payment security market by country (China, Japan, South Korea, India and rest of Asia Pacific) – by revenue
7. Analysis of the competitive landscape and profiles of major competitors operating in the Asia Pacific market
1. Understand the demand for the Asia Pacific payment security market to determine the viability of the market
2. Understand the country-specific market size and observations for each segment
3. Develop strategies based on the drivers, trends and highlights for each of the segments
4. Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed
5. Recognize the key competitors of this market and respond accordingly
6. Identify the initiatives and growth strategies taken by the major companies and decide the direction of further growth
7. Define the competitive positioning by comparing the products and services compared with the key players in the market
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