According to Straits Research, the global P2P Payments market size was valued at USD 2219 Billion in 2021. It is projected to reach from USD XX Billion in 2022 to USD 8078.81 Billion by 2030, growing at a CAGR of 17.53% during the forecast period (2022–2030).
Peer-to-Peer (P2P) Payments Market Analysis, Size, Share, Growth, Trends, and Opportunities
Market Definition
The Peer-to-Peer (P2P) Payments Market refers to the transfer of funds from one individual to another through various online platforms, mobile apps, and digital wallets. This market has witnessed significant growth in recent years due to the increasing adoption of smartphones, the rise of e-commerce, and the need for contactless payments.
Peer-to-Peer (P2P) Payments Market Size
The global P2P payments market size was valued at USD 2219 Billion in 2021. It is projected to reach from USD XX Billion in 2022 to USD 8078.81 Billion by 2030, growing at a CAGR of 17.53% during the forecast period (2022–2030).
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Latest Trends
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Increasing Adoption of Mobile Wallets: The rise of mobile wallets such as Apple Pay, Google Pay, and Samsung Pay is driving the growth of the P2P payments market.
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Growing Demand for Contactless Payments: The COVID-19 pandemic has accelerated the demand for contactless payments, which is expected to continue in the post-pandemic era.
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Emergence of Blockchain Technology: The use of blockchain technology in P2P payments is expected to increase security, transparency, and efficiency in transactions.
Market Segmentation
The P2P payments market can be segmented into the following categories:
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By Transaction Mode:
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Mobile Web Payments
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Near Field Communication
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SMS/Direct Carrier Billing
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Others
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By End-User:
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Consumer Credit Payment
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Real Estate Payments
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Student Payment
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Small Business Payment
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By Application:
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Media & Entertainment
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Energy & Utilities
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Healthcare
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Retail
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Hospitality & Transportation
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Others
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Key Players
Some of the key players operating in the P2P payments market include:
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Apple Inc.
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Circle International Financial Limited
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Google LLC
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One97 Communications Limited (Paytm)
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PayPal Holdings Inc.
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Square, Inc.
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WePay Inc.
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Wise Payments Limited
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Zelle
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Key Opportunities
The P2P payments market presents several opportunities for growth and investment, including:
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Increasing Adoption of Mobile Payments: The growing adoption of mobile payments is expected to drive the growth of the P2P payments market.
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Emergence of New Technologies: The emergence of new technologies such as blockchain and artificial intelligence is expected to increase the efficiency and security of P2P payments.
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Growing Demand for Contactless Payments: The growing demand for contactless payments is expected to drive the growth of the P2P payments market.
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Phone: +1 646 905 0080 (US), +91 8087085354 (India), +44 203 695 0070 (UK)
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