Buy Now Pay Later Platforms Market Size, Type Analysis, Application Analysis, End-Use, Industry Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2023-2032

  • Report ID: ME_00130116
  • Format: Electronic (PDF)
  • Publish Type: Publish
  • Number of Pages: 250
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Market Snapshot

CAGR:6.46
2023
2032

Source: Market Expertz

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Study Period 2019-2032
Base Year 2023
Forcast Year 2023-2032
CAGR 6.46
Information & Technology-companies
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Report Overview

The Buy Now Pay Later Market size is estimated to grow at a CAGR of 7.5% between 2022 and 2032. The market size is forecast to increase by USD 38,792 million. The growth of the market depends on several factors, including changing consumer preferences, the rise of e-commerce, and the convenience offered by BNPL solutions. Buy Now Pay Later (BNPL) is a payment option that allows consumers to purchase products or services and pay for them later in installment payments.

Buy Now Pay Later (BNPL) Market Overview:

Drivers:

One of the key drivers of the BNPL market is changing consumer preferences. Consumers are increasingly looking for flexible payment options that offer convenience and affordability. BNPL solutions provide an attractive alternative to traditional credit cards, allowing shoppers to spread the cost of purchases over time without incurring interest charges if payments are made on time.

Moreover, the rise of e-commerce is driving the adoption of BNPL solutions. Online retailers and marketplaces are integrating BNPL as a checkout option, making it easy for customers to choose this payment method. The simplicity and speed of BNPL transactions align well with the fast-paced nature of online shopping.

Trends:

A key trend shaping the BNPL market growth is the expansion of BNPL services beyond e-commerce. BNPL providers are partnering with brick-and-mortar retailers, allowing consumers to use BNPL options in physical stores. This omnichannel approach broadens the reach of BNPL and enhances the shopping experience for customers.

Additionally, the introduction of interest-bearing BNPL plans is gaining traction. While traditional BNPL options are interest-free, some providers are offering interest-bearing plans that provide customers with more extended repayment terms in exchange for paying interest. This caters to consumers looking for even greater flexibility in managing their finances.

Restraints:

One of the challenges facing the BNPL market is the potential for consumers to accumulate debt. While BNPL can be a convenient payment option, it may encourage overspending if not used responsibly. Consumers who take on multiple BNPL plans and fail to make timely payments can find themselves in debt, affecting their credit scores.

Furthermore, regulatory scrutiny is increasing in the BNPL industry. Regulators in various countries are evaluating BNPL services to ensure they comply with consumer protection and lending regulations. This could lead to tighter regulations and potential limitations on BNPL offerings.

BNPL Market Segmentation By Application:

The e-commerce segment is estimated to witness significant growth during the forecast period. BNPL solutions have become increasingly popular in the e-commerce space, with online shoppers appreciating the flexibility and convenience of spreading payments over time. E-commerce platforms are actively promoting BNPL as a payment option, driving its adoption.

BNPL Market Segmentation By Type:

The interest-free BNPL segment is experiencing substantial growth in the market. Interest-free BNPL plans allow consumers to make purchases and repay the total amount in installments without incurring interest charges. This straightforward and transparent approach appeals to a wide range of consumers looking to manage their finances without added costs.

Regional Overview:


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North America is estimated to contribute 40% to the growth of the global BNPL market during the forecast period. The region's mature e-commerce ecosystem, coupled with the strong presence of BNPL providers, drives market growth. Additionally, consumers in North America are increasingly looking for flexible payment options, further boosting BNPL adoption.

Moreover, Europe is another significant market for BNPL, with the region experiencing a surge in BNPL services. European consumers are embracing BNPL as a convenient and interest-free payment option, particularly for online shopping.

BNPL Market Customer Landscape:

The BNPL market industry report includes an analysis of the customer landscape, covering consumers across various demographics and their preferences for using BNPL services. Understanding consumer behavior and preferences is essential for BNPL providers to tailor their offerings effectively.

Major BNPL Market Companies:

Companies in the BNPL market are implementing various strategies to enhance their presence and innovation in the industry. These strategies include expanding their merchant partnerships, offering additional financial services, and entering new geographic markets.

  • Afterpay: Afterpay offers interest-free BNPL solutions to consumers and has a strong presence in both online and physical retail environments.
  • Klarna: Klarna provides BNPL services with a focus on simplifying the shopping experience and offering flexible payment options.
  • Affirm: Affirm offers point-of-sale financing solutions, allowing consumers to split their payments into manageable installments.
  • Zip Co: Zip Co provides BNPL services and also offers a range of other financial products, including personal loans and budgeting tools.

The competitive landscape of the market includes information about these companies and their strengths and weaknesses. Companies are categorized based on their market share, geographic presence, and product/service offerings in the BNPL industry.

Segment Overview:

The BNPL market report provides revenue forecasts at global, regional, and country levels and offers an analysis of the latest trends and growth opportunities from 2019 to 2032.

  • Application Outlook (USD Million, 2019 - 2032)
    • E-commerce
    • Retail Stores
    • Travel and Hospitality
    • Healthcare
    • Others
  • Type Outlook (USD Million, 2019 - 2032)
    • Interest-Free BNPL
    • Interest-Bearing BNPL
  • Geography Outlook (USD Million, 2019 - 2032)
    • North America
      • The United States
      • Canada
    • Europe
      • The United Kingdom
      • Germany
      • France
      • Rest of Europe
    • APAC
      • China
      • Japan
      • India
    • South America
      • Brazil
      • Argentina
      • Chile
    • Middle East & Africa
      • United Arab Emirates
      • South Africa
      • Rest of the Middle East & Africa

TABLE OF CONTENTS: GLOBAL Buy Now Pay Later  MARKET

Chapter 1. MARKET SYNOPSIS

1.1. Market Definition

1.2. Research Scope & Premise

1.3. Methodology

1.4. Market Estimation Technique

Chapter 2. EXECUTIVE SUMMARY

2.1. Summary Snapshot, 2016 – 2027

Chapter 3. INDICATIVE METRICS

3.1. Macro Indicators

Chapter 4. Buy Now Pay Later MARKET SEGMENTATION & IMPACT ANALYSIS

4.1. Buy Now Pay Later Platforms Segmentation Analysis

4.2. Industrial Outlook

4.3. Price Trend Analysis

4.4. Regulatory Framework

4.5. Porter’s Five Forces Analysis

    4.5.1. Power Of Suppliers

    4.5.2. Power Of Buyers

    4.5.3. Threat Of Substitutes

    4.5.4. Threat Of New Entrants

    4.5.5. Competitive Rivalry

Chapter 5. Buy Now Pay Later  MARKET BY End use INSIGHTS & TRENDS

5.1. Segment 1 Dynamics & Market Share, 2019 & 2027

5.2. Fashion & Garment Industry

    5.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.3. Consumer Electronics

    5.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.4. Cosmetic Industry

    5.4.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.4.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

5.5. Healthcare

    5.5.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    5.5.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 6. Buy Now Pay Later MARKET BY Enterprise size INSIGHTS & TRENDS

6.1. Segment 2 Dynamics & Market Share, 2019 & 2027

6.2. SMEs

    6.2.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.2.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

6.3. Large Enterprises

    6.3.1. Market Estimates And Forecast, 2016 – 2027 (USD Million)

    6.3.2. Market Estimates And Forecast, By Region, 2016 – 2027 (USD Million)

Chapter 7. Buy Now Pay Later MARKET REGIONAL OUTLOOK

7.1. Buy Now Pay Later Platforms Market Share By Region, 2019 & 2027

7.2. NORTH AMERICA

    7.2.1. North America Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.2. North America Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.3. North America Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.4. North America Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.5. U.S.

    7.2.5.1. U.S. Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.5.2. U.S. Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.5.3. U.S. Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.5.4. U.S. Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.2.6. CANADA

    7.2.6.1. Canada Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.2.6.2. Canada Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.2.6.3. Canada Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.2.6.4. Canada Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3. EUROPE

    7.3.1. Europe Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.2. Europe Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.3. Europe Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.4. Europe Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.5. GERMANY

    7.3.5.1. Germany Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.5.2. Germany Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.5.3. Germany Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.5.4. Germany Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.6. FRANCE

    7.3.6.1. France Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.6.2. France Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.6.3. France Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.6.4. France Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.3.7. U.K.

    7.3.7.1. U.K. Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.3.7.2. U.K. Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.3.7.3. U.K. Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.3.7.4. U.K. Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4. ASIA-PACIFIC

    7.4.1. Asia Pacific Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.2. Asia Pacific Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.3. Asia Pacific Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.4. Asia Pacific Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

 7.4.5. CHINA

     7.4.5.1. China Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.5.2. China Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.5.3. China Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.5.4. China Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.6. INDIA

     7.4.6.1. India Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.6.2. India Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.6.3. India Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

     7.4.6.4. India Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.7. JAPAN

     7.4.7.1. Japan Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

     7.4.7.2. Japan Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.4.7.3. Japan Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.7.4. Japan Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.4.8. AUSTRALIA

    7.4.8.1. Australia Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.4.8.2. Australia Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

     7.4.8.3. Australia Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.4.8.4. Australia Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.5. MIDDLE EAST AND AFRICA (MEA)

    7.5.1. Mea Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.5.2. Mea Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.5.3. Mea Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.5.4. Mea Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

7.6. LATIN AMERICA

     7.6.1. Latin America Buy Now Pay Later Platforms Market Estimates And Forecast, 2016 – 2027, (USD Million)

    7.6.2. Latin America Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 1, 2016 –2027, (USD Million)

    7.6.3. Latin America Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 2, 2016 –2027, (USD Million)

    7.6.4. Latin America Buy Now Pay Later Platforms Market Estimates And Forecast By Production Process, 2016 –2027, (USD Million)

    7.6.5. Latin America Buy Now Pay Later Platforms Market Estimates And Forecast By Segment 3, 2016 –2027, (USD Million)

Chapter 8. COMPETITIVE LANDSCAPE

8.1. Market Share By Manufacturers

8.2. Strategic Benchmarking

    8.2.1. New Product Launches

    8.2.2. Investment & Expansion

    8.2.3. Acquisitions

    8.2.4. Partnerships, Agreement, Mergers, Joint-Ventures

8.3. Vendor Landscape

     8.3.1. North American Suppliers

     8.3.2. European Suppliers

     8.3.3. Asia-Pacific Suppliers

     8.3.4. Rest Of The World Suppliers

Chapter 9. COMPANY PROFILES

9.1. Afterpay

    9.1.1. Company Overview

    9.1.2. Financial Performance

    9.1.3. Product Insights

    9.1.4. Strategic Initiatives

9.2. Zippay

    9.2.1. Company Overview

    9.2.2. Financial Performance

    9.2.3. Product Insights

    9.2.4. Strategic Initiatives

9.3. VISA

    9.3.1. Company Overview

    9.3.2. Financial Performance

    9.3.3. Product Insights

    9.3.4. Strategic Initiatives

9.4. Sezzle

    9.4.1. Company Overview

    9.4.2. Financial Performance

    9.4.3. Product Insights

    9.4.4. Strategic Initiatives

9.5. Affirm

    9.5.1. Company Overview

    9.5.2. Financial Performance

    9.5.3. Product Insights

    9.5.4. Strategic Initiatives

9.6. Paypal

    9.6.1. Company Overview

    9.6.2. Financial Performance

    9.6.3. Product Insights

    9.6.4. Strategic Initiatives

9.7. Splitit

    9.7.1. Company Overview

    9.7.2. Financial Performance

    9.7.3. Product Insights

    9.7.4. Strategic Initiatives

9.8. Latitude Financial Services

    9.8.1. Company Overview

    9.8.2. Financial Performance

    9.8.3. Product Insights

    9.8.4. Strategic Initiatives

9.9. Klarna

    9.9.1. Company Overview

    9.9.2. Financial Performance

    9.9.3. Product Insights

    9.9.4. Strategic Initiatives

9.10. Humm

    9.10.1. Company Overview

    9.10.2. Financial Performance

    9.10.3. Product Insights

    9.10.4. Strategic Initiatives

RESEARCH METHODOLOGY

A research methodology is a systematic approach for assessing or conducting a market study. Researchers tend to draw on a variety of both qualitative and quantitative study methods, inclusive of investigations, survey, secondary data and market observation.

Such plans can focus on classifying the products offered by leading market players or simply use statistical models to interpret observations or test hypotheses. While some methods aim for a detailed description of the factors behind an observation, others present the context of the current market scenario.

Now let’s take a closer look at the research methods here.

Secondary Research Model

Extensive data is obtained and cumulated on a substantial basis during the inception phase of the research process. The data accumulated is consistently filtered through validation from the in-house database, paid sources as well reputable industry magazines. A robust research study requires an understanding of the overall value chain. Annual reports and financials of industry players are studied thoroughly to have a comprehensive idea of the market taxonomy.

Primary Insights

Post conglomeration of the data obtained through secondary research; a validation process is initiated to verify the numbers or figures. This process is usually performed by having a detailed discussion with the industry experts.

However, we do not restrict our primary interviews only to the industry leaders. Our team covers the entire value chain while verifying the data. A significant number of raw material suppliers, local manufacturers, distributors, and stakeholders are interviewed to make our findings authentic. The current trends which include the drivers, restraints, and opportunities are also derived through the primary research process.

Market Estimation

The market estimation is conducted by analyzing the data collected through both secondary and primary research. This process involves market breakdown, bottom-up and top- down approach.

Moreover, while forecasting the market a comprehensive statistical time series model is designed for each market. Macroeconomic indicators are considered to understand the current trends of the market. Each data point is verified by the process of data triangulation method to arrive at the final market estimates.

Final Presentation

The penultimate process results in a holistic research report. The study equips key industry players to undertake significant strategic decisions through the findings. The report encompasses detailed market information. Graphical representations of the current market trends are also made available in order to make the study highly comprehensible for the reader.

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