Buy Now Pay Later Services Market 2024 - By Size, Share, Trends Analysis Report And Forecasts To 2033
Global buy now pay later services market size is expected to reach $23.73 Bn by 2028 at a rate of 29.6%, segmented as by type, online platforms, point of sale financing
Share this Post to earn Money ( Upto ₹100 per 1000 Views )
![Buy Now Pay Later Services Market 2024 - By Size, Share, Trends Analysis Report And Forecasts To 2033](https://blog.rackons.in/uploads/images/202408/image_750x_66d1a0e45a6a7.jpg)
Overview and Scope
The buy now pay later services market includes revenues earned by entities by providing services such as interest-free installments, deferred payments, fixed-term financing, and subscription services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
Sizing and Forecast
The buy now pay later services market size has grown exponentially in recent years. It will grow from $6.51 billion in 2023 to $8.42 billion in 2024 at a compound annual growth rate (CAGR) of 29.3%. The growth in the historic period can be attributed to increased penetration of smartphones, increased consumer trust in digital payments, increased consumer awareness of financial management, increased consumer demand for flexible payment options, and increased consumer trust in digital payments.
The buy now pay later services market size is expected to see exponential growth in the next few years. It will grow to $23.73 billion in 2028 at a compound annual growth rate (CAGR) of 29.6%. The growth in the forecast period can be attributed to the increasing number of internet users, increasing consumer preference for flexible payment options, rising adoption of installment payment solutions by merchants, surge in e-commerce platforms, and increasing adoption of online payments. Major trends in the forecast period include technological innovations, digitalization, integration of BNPL services, omnichannel, and mobile apps.
Order your report now for swift delivery, visit the link:
https://www.thebusinessresearchcompany.com/report/buy-now-pay-later-services-global-market-report
Segmentation & Regional Insights
The buy now pay later services market covered in this report is segmented –
1) By Type: Online Platforms, Point Of Sale Financing
2) By Product Category: Kitchen Appliances, Other Electronic Appliances, Fashion And Personal Care, Healthcare, Other Product Categories
3) By End-Use: Retail, Automotive, Other End-Uses
North America was the largest region in the buy now pay later services market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the buy now pay later services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Intrigued to explore the contents? Secure your hands-on a free sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=16365&type=smp
Major Driver Impacting Market Growth
The expansion of e-commerce is expected to propel the growth of the buy now pay later (BNPL) services market going forward. E-commerce, short for electronic commerce, refers to the buying and selling of goods and services over the Internet, encompassing online transactions through websites, mobile apps, and other digital platforms. The expansion of e-commerce is due to technological advancements, consumer preferences, market dynamics, and global connectivity. The buy now pay later services are crucial in enhancing e-commerce by improving the shopping experience, increasing conversion rates, boosting average order values, attracting new customers, and reducing cart abandonment. They provide financial flexibility to consumers while offering strategic advantages to merchants in a competitive online marketplace. For instance, in May 2024, according to the United States Department of Commerce, a US-based government department, retail e-commerce sales in the first quarter of 2024 amounted to $289.2 billion, up 2.1% from the fourth quarter of 2023. Therefore, the expansion of e-commerce is driving the buy now, pay later services market.
Key Industry Players
Major companies operating in the buy now pay later services market are PayPal Holdings Inc., HSBC Holdings plc, Klarna Bank AB, Affirm Holdings Inc., Afterpay Limited, Zip Co Limited, Openpay Pty Ltd, Freecharge Payment Technologies Private Limited, Sezzle Inc., PayClip Inc., Zest Money, One Mobikwik Systems Private Limited, Zilch Technology Limited, Atome Financial, Scalapay S.r.l., Laybuy Holdings Limited, Billie GmbH, ViaBill Inc., Splitit Payments Ltd, Social Money Ltd, Payright Ltd, FuturePay Holdings Inc., OlaMoney Postpaid, LazyPay
The buy now pay later services market report table of contents includes:
1. Executive Summary
2. Buy Now Pay Later Services Market Characteristics
3. Buy Now Pay Later Services Market Trends And Strategies
4. Buy Now Pay Later Services Market - Macro Economic Scenario
5. Global Buy Now Pay Later Services Market Size and Growth
.................................
32. Global Buy Now Pay Later Services Market Competitive Benchmarking
33. Global Buy Now Pay Later Services Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Buy Now Pay Later Services Market
35. Buy Now Pay Later Services Market Future Outlook and Potential Analysis
36. Appendix
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model