What is Buy Now Pay Later Platforms Market Scope?
The term ‘Buy now pay later is referring to the customer taking home their purchase but paying for it over time. Pay later shopping typically referred to an interest-free period following the purchase, during which no payments were made and no interest charged. However, after this interest-free period, payment in full was expected otherwise the interest from the original time of purchase was added. The advantage of Buy Now Pay Later (BNPL) for shoppers is the potential to pay no interest if payments met on time or the entire amount is paid off by the time the loan period ends which is boosting the market.
Influencing Trend:
Advancement in Technology
Market Growth Drivers:
Increased Number of Internet Users and Wide Number of Benefits offered by BNPL Platforms
Challenges:
Lack of Awareness among the User
Restraints:
Increasing Complaints of the Users regarding the High Late Fees and Mounting Debts
Opportunities:
Growth in E-commerce Industry and Growth in Developing Countries
The Buy Now Pay Later Platforms market study is being classified, by Application and major geographies with country level break-up.
The companies operating in these industries are focusing more towards on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focus on maintaining sustainable development. The players are focusing on securing a leading position in this industry. They are continuously looking for the opportunity to reinforce their competitive advantage. To meet high market share, and developing socially responsible business company are identifying various strategic pillars such as mergers & acquisitions, new product launches, product enhancement, and others. Analysts at AMA predicts that Players from United States will contribute to the maximum growth of Global Buy Now Pay Later Platforms market throughout the predicted period.
Afterpay (Australia), Zippay (Australia), VISA (United States), Sezzle (United States), Affirm (United States), Paypal (United States), Splitit (United States), Latitude Financial Services (Australia), Klarna (Sweden), Flexigroup (Australia) and Openpay (Australia) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Buy Now Pay Later Platforms market by Type, Application and Region.
On the basis of geography, the market of Buy Now Pay Later Platforms has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Buy Now Pay Later Platforms Providers, Government Regulatory and Research Organizations and End-Use Industries
Buy Now Pay Later Platforms Market Study: Important Years
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2022-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Major Highlights of Market Study
Demand Determinants: Identifying top-notch application and business segments that seek high growth potentials in Buy Now Pay Later Platforms Market.
Key Strategic Developments: To target untapped regions more aggressively by focusing on product/service developments, innovation and R & D, new launches, Merger & acquisitions, JVs & partnerships.
Forces & Market Dynamics: Growth drivers, restraints & opportunities available in Buy Now Pay Later Platforms industry is examined with reference relevant market sectors and sub-sectors.
Customization available in this Study:
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs.
To compete effectively, companies also require quantitative estimates of the future growth and qualitative nature of the market. AMA Research features not just specific market sizing estimates, but also includes significant value-added commentary on Technological Trends and Innovations, Regulatory Policies, Market Maturity Indicators, Market Share Movements, New Entrants into the Market & Entry/Exit Barriers, Consumer Demographics, Supporting Company Financial and Cash Flow Planning, Open Up New Markets, To Seize Powerful Market Opportunities, Key Decision in Planning and to Further Expand Market Share, Identify Key Business Segments, Market Proposition & Gap Analysis.