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Several business owners around the world have been using the Buy Now, Pay Later payment platform to finance large pieces of equipment, purchase raw materials, and pay employee salaries, which is driving the global growth of the Buy Now Pay Later Market. Furthermore, the youth are increasingly adopting Buy Now, Pay Later payment technology because it offers several benefits such as purchasing a high-priced smartphone and laptop, paying tuition fees and stationery products, and paying the canteen bill, which accelerates the Buy Now Pay Later Market growth.
Buy Now Pay Later Market Report Scope:
The Buy Now Pay Later market has been analysed at regional and country levels. The segment-wise and region-wise analysis of the Buy Now Pay Later market dynamics including drivers, restraints, challenges and opportunities has been provided in the report. This detailed analysis of the market makes the report an investor’s guide.
A bottom-up approach has been used to estimate the Buy Now Pay Later market size. Key Players in the Buy Now Pay Later market are identified through secondary research and their market revenues are determined through primary and secondary research. Secondary research included a review of annual and financial reports of leading manufacturers, while primary research included interviews with important opinion leaders and Buy Now Pay Later industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. SWOT analysis was used to provide strengths, weaknesses, opportunities and threats of the Buy Now Pay Later key players in the industry.
Buy Now Pay Later Market Report Overview:
The new market intelligence report published by research firm, Stellar Market Research, indicates the lucrative growth for Buy Now Pay Later Market suppliers in the forecast period through 2029. The Buy Now Pay Later Market report includes the growth drivers, major restraints, upcoming challenges and prevailing opportunities in the market.
Buy Now Pay Later Market Size is expected to grow at a CAGR of 26.0% during the forecast period. Buy Now Pay Later Market is expected to reach US$ 20.05 Bn. in 2027 from US$ 5.01 Bn. in 2022
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Buy Now Pay Later Market Regional Analysis:
Government initiatives in the sector and regulations drive the Buy Now Pay Later Market growth in the region. The Buy Now Pay Later market report includes a geographic condition of the market, market size and share as well as in-depth research into the business network structure, opportunities, and news updates. The report includes all the regions: North America, Europe, Asia Pacific, South America and Middle East and Africa.
Buy Now Pay Later Market Segmentation:
Purchase Now and Pay Later The market is divided into three segments: channel, enterprise size, and end user.
The Buy Now Pay Later Market is divided into two channels: online and point-of-sale (PoS). The online channel segment will lead the market in 2021, accounting for more than 64.0 percent of worldwide sales. Several companies throughout the world are forging coalitions to focus on the adoption of the fastest-growing online payment solutions, such as Buy Now, Pay Later, as part of their post-pandemic resuscitation strategies.
The Point-of-Sale channel is likely to expand substantially over the forecast period. Many businesses are working on delivering PoS-BNPL financing options in order to improve the customer experience and increase customer connections. Additionally, businesses offer clients clear loyalty-driven PoS installment financing solutions.
The Buy Now Pay Later Market is divided into two categories based on firm size: small and medium companies (SMEs) and large organizations. The large enterprise segment led the market in 2021, accounting for more than 61.0% of total revenue. Large-scale businesses are increasingly utilizing BNPL payment solutions because they offer clients a flexible and low-cost payment alternative for purchasing high-value goods. The ease of buying also motivates customers to purchase more items, increasing sales. As a result, BNPL helps major enterprises significantly improve their customer experience.
Small and medium-sized enterprises throughout the world are focusing on deploying BNPL solutions to help merchants improve sales conversion rates. Small and medium-sized enterprises are focused on growing their customer base and strengthening their market position.
The Buy Now Pay Later Market is classified into BFSI, Consumer Electronics, Fashion & Apparel, Healthcare, Retail, Media, and Entertainment. Consumer electronics is expected to have the largest market share in 2020, with increased online sales due to the COVID-19 lockout on numerous consumer gadgets like as smart TVs, smartphones, game consoles, and others. The Indian consumer products business is valued at USD 537.50 billion, with the digital economy and payment flexibility driving the market's growth in the next years.
BNPL payment methods, which offer a low-friction alternative to credit cards, are becoming more popular in the sector. Additionally, people choose BNPL payment solutions over credit cards in order to avoid costly compounding interest and hidden expenses. Increasing consumer electronic provider awareness of the flexible Buy Now, Pay Later payment method is expected to drive demand for BNPL services during the forecast period.
Buy Now Pay Later Market Key Players:
Affirm Holdings Inc. (California, United States)
Afterpay (Melbourne, Australia)
Klarna Bank AB (Stockholm, Sweden)
Laybuy Group Holdings Limited
PayPal Holdings Inc. (New Zealand)
Payl8r (Social Money Ltd.)
Perpay (Manchester)
Quadpay (New York, United States)
Sezzle (Minnesota, United States)
Splitit (New York, United States)
Billie (Germany)
Key Questions answered in the Buy Now Pay Later Market Report are:
Key offerings:
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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