Payment Security Software Market is projected to reach USD 23.7 Billion by 2025

According to a research report by Transparency Market Research (TMR), the global payment security software market is characterized by innovation in technology. Strategic alliances among software and hardware providers is also a key trend in this market. The leading vendors of payment security software, such as Symantec, Intel, Cisco Systems, HCL Technologies, and Thales e-Security, are engaging into mergers, acquisitions, and partnerships increasingly in a bid to strengthen their presence across the world. Over the forthcoming years, the market is expected to move towards consolidation, which is anticipated to intensify the competition between the companies, notes the research study.

Interpret a Competitive outlook Analysis Report with PDF Brochure: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=30509

The report estimates the opportunity in the worldwide market for payment security to expand at a CAGR of 8.90% during the period from 2017 to 2025, reaching US$23.7 bn by the end of the forecast period. Currently, security information and event management (SIEM) software reports a greater demand from end users and this trend is projected to continue over the next few years. Among end users, the banking, financial services, and insurance (BFSI) sector is registering a high adoption of this software. Mobile payments have surfaced as the most preferred mode of payment for cashless transaction, which is reflected on demand for payment security software in this segment.

Thanks to the increased uptake of online payment methods, North America has emerged as the leading regional market for payment security software. With the rising investment in online payment technology, this market is anticipated to retain its position over the period of the forecast, states the research report.

Digital Transformation in Payment Methods to Fuel Demand for Payment Security Software

"The increasing number of cashless transactions is the main factor behind the rising demand for payment security software across the world," says a TMR analyst. With the ongoing digital transformation, the payment market is witnessing a significant change in the pattern of financial transactions, which is shifting towards cashless increasingly.

The digitization across industries is leading to high investments in the development and the deployment of new technologies, encouraging them to come up with technical competence that ensure fast, secure, and easy financial transaction and exchange of information over the Internet. As online payment is susceptible to a number of security threats, the need for payment security software is increasing constantly to prevent the losses incurred due to frauds and data breaches.

To understand key trends, Download Sample Report at: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=30509

About Us

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Contact

Mr. Rohit Bhisey

Transparency Market Research

State Tower,

90 State Street,

Suite 700,

Albany NY – 12207

United States

Tel: +1-518-618-1030

USA – Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com

Research Blog: http://www.europlat.org/

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.