Global Buy Now Pay Later Market Size By Channel (Online Channel, POS Channel), By Application (Retail Goods, Media And Entertainment, Healthcare And Wellness), By Geographic Scope And Forecast

Buy Now Pay Later Market Size And Forecast

Buy Now Pay Later Market size was valued at USD 121.33 Billion in 2021 and is projected to reach USD 3170.21 Billion by 2030, growing at a CAGR of 43.70% from 2022 to 2030.

Increased youth adoption of buy now pays later payment technology as it provides several benefits such as purchasing high-priced smartphones and laptops, paying tuition fees and stationery products, and paying canteen bills, which is driving the Buy Now Pay Later Market growth. The Global Buy Now Pay Later Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Buy Now Pay Later Market Definition

Ever heard of buy now, pay later? It's basically a super handy way to finance those things you need, like clothes, new gadgets, or stuff for sprucing up your home. Think of it as a mini-loan right when you're checking out (that's the POS part!). Retailers are all about it, letting you grab your daily must-haves and pay them off with a plan that fits your budget. And it's not just for shoppers! Business owners worldwide are using these "buy now, pay later" platforms to get big equipment, stock up on materials, and even handle payroll. All this is seriously boosting the Buy Now Pay Later Market worldwide!

Global Buy Now Pay Later Market Overview

We're seeing some exciting possibilities open up for the Buy Now, Pay Later (BNPL) Market! It looks like more folks are wanting to spread out their payments for online shopping, and adults are spending more on fancy things. BNPL is catching on because it offers real advantages. Think easy and manageable payments, super-fast credit at the checkout, and better security for your personal info – all fueling the market's rise. Plus, with cool features like QR code payments, you can just scan and pay using things like UPI, which is also helping things grow. And since BNPL lets you pay securely without needing your debit card, it's really taking off around the world.

Moreover, the buy now pays later platform provides important benefits such as reminders about repayment, improving an individual’s credit score, and digitally monitoring transaction details, which help to accelerate the growth of the market globally. Retailers and merchants are widely accepting the buy now pay later payment technology platform because it increases the organization’s revenue by selling lower-priced products at a higher rate and offering an installment repayment method. The benefits provided by the buy now platform to consumers and merchants drive global market growth and are expecting the growth of the Buy Now Pay Later Market even further.

Global Buy Now Pay Later MarketSegmentation Analysis

The Global Buy Now Pay Later Market is Segmented on the basis of Channel, Application, and Geography.

Buy Now Pay Later Market, By Channel

• Online Channel• POS Channel• Others

Based on channel, the market is segmented into Online Channel, POS Channel, and Others. The growing acceptance of online payment methods among people in developing countries had accelerated the growth of the Buy Now Pay Later Market. The key factors fueling the growth of the Global Buy Now Pay Later Market trends are affordable and convenient payment services of buy now pay later platforms, similar growth in the global e-commerce industry and others and increasing the market growth of the market globally.

Buy Now Pay Later Market, By Application

• Retail Goods• Media & Entertainment• Healthcare & Wellness• Others

Based on Application, the market is segmented into Retail Goods, Media & Entertainment, Healthcare & Wellness, and Others. The retail goods segment contributed the most to the market, owing to an increase in consumer spending on daily necessities at retail stores via the buy now pay later platform, which is driving the market growth and increasing the Buy Now Pay Later Market globally.

Buy Now Pay Later Market, By Geography

• North America• Europe• Asia Pacific• Rest of the world

When we look at the Buy Now Pay Later Market across different regions, we can break it down geographically into North America, Europe, Asia Pacific, and everywhere else. We're expecting to see some big growth in Asia Pacific. Why? Well, things like smart TVs, music systems, and washing machines are getting more expensive. Plus, young people in Asia Pacific are really keen on using "buy now, pay later" to snag those cool electronics like smartphones, tablets, and laptops. This desire will really boost the region’s market over the next few years!

Key Players

The “Global Buy Now Pay Later Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Affirm Holdings Inc., Afterpay, Klarna Bank AB, Laybuy Group Holdings Limited, PayPal Holdings Inc., Payl8r (Social Money Ltd.), Perpay, Quadpay, Sezzle, and Splitit.Quaapay

Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.

Key Developments

• In Aug 2021, Square, Inc. Announces Acquisition of Afterpay, Strengthening and Enabling Further Integration of its Seller and Cash App Ecosystems. Brings together two of the world’s fastest-growing fintech companies to advance a common goal of economic empowerment and financial inclusion.

• In May 2021, Affirm Holdings, Inc., a payment network that empowers consumers and assists merchants in driving growth, announced today the completion of its acquisition of return, a leader in online return experiences and post-purchase payments.

• In July 2021, Perpay is fully prepared to serve its expanding customer base. However, the team is evolving into a true financial partner, working with customers to help them achieve their long-term goals.

Report Scope

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We take a close look at the market using both number-crunching (quantitative) and deep-dive (qualitative) analysis, breaking it down by different segments, considering things like the economy and other factors. You'll get the market value (in USD Billion) for each of these segments and sub-segments. We'll pinpoint which region and segment are likely to grow the fastest and be the biggest. Our analysis will highlight how the product/service is used in different geographic areas and what's influencing the market in each of those regions. We'll also map out the competitive landscape, showing the market ranking of key players, along with their recent launches, partnerships, expansions, and acquisitions over the last five years. You'll get detailed company profiles including company overview, insights, product benchmarking, and a SWOT analysis for the major market players. We'll give you the current and future outlook of the industry, covering recent developments, growth opportunities, drivers, and the challenges faced by both new and established regions. To give you a complete picture, we use Porter's five forces to analyze the market from different angles. We also offer a Value Chain perspective, insights into market dynamics, and highlight future growth opportunities. Finally, we provide 6 months of analyst support after the sale to answer any questions.

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