3D Secure Payment Global Market Is Expected To Grow At A Rate Of More Than 12% Through 2023 – 2027
15 Jun, 2023
The global 3D secure payment market size is expected to grow from $1.12 billion in 2022 to $1.26 billion in 2023 at a compound annual growth rate (CAGR) of 12.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global 3D secure payment market size is expected to reach $2.02 billion in 2027 at a CAGR of 12.4%.
Global 3D Secure Payment Market Key Driver
Consumer preferences for online purchasing are projected to drive the expansion of the 3D secure payment market in the coming years. Online shopping is a sort of electronic commerce in which a customer uses a web browser to search the internet for items and services before purchasing them. Factors such as customers’ access to more information, opportunities to compare items and pricing, a wider variety of products, convenience, and the ability to quickly locate desired products are helping consumers’ preferences towards online shopping, where 3D Secure payment is an additional layer of cardholder authentication and provides security for online payments.
Get a sample of the global 3D secure payment market reportGlobal 3D Secure Payment Market Segments
The global 3D secure payment market is segmented:
1) By Type: On-Premise, Cloud-Based
2) By Component: Merchant Plug-in, Access Control Server, Other Components
3) By Application: Banks, Merchants And Payment Gateway
4) By Geography: The regions covered in the 3D secure payment market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions, North America accounts for the largest share in the global 3D secure payment market.
Major 3D Secure Payment Industry Players
GPayments Pty Ltd., Broadcom Inc., Mastercard Inc., Visa Inc., Bluefin Payment Systems LLC, American Express Company, RSA Security LLC, DECTA Limited, Modirum Oy, Marqeta, Entersekt, SIA S.p.A., Worldline SA, Elavon Inc., Adyen
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3D Secure Payment Market Overview
3D Secure payment refers to a security protocol in which an extra layer of security for online credit card and debit card transactions. Customers have to go through an additional verification process with the card issuer while purchasing.
3D Secure Payment Global Market Report 2023 provides data on the global 3D secure payment market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The 3D secure payment market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.