Men’s Personal Care Market Worth $75.8 Billion By 2027

The global men’s personal care market size is anticipated to reach USD 75.8 billion by 2027 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.0% from 2020 to 2027. Growing popularity among men for daily skincare routine coupled with rising awareness in respect to personal grooming and hygiene is the key factor driving the market. Availability of a wide range of skincare routine products by key players and guidance by industry experts is driving the market.

Millennial men nowadays are becoming more conscious of their physical appearance and looks and are willing to experience innovative products that are proven to work for skin nourishment. Prominent players in the beauty and cosmetics market have been collaborating and launching innovative products specifically designed for men. For instance, in September 2018 Loreal China partnered with Tmall to gain traction of millennial men. This partnership is bound to provide insights from Alibaba’s 600 million users for the product development process and further launching innovative products in the men’s personal care category.

Most of the companies in the market have been relying on social media platforms including YouTube, Instagram, and Facebook to promote their products as one of the prominent strategies to pique consumer interest. Besides, launching the product on their official website, the companies use popular social media influencer or celebrities who usually have millions of followers as marketing media to build their brand awareness among the consumers. For instance, Loreal Paris in February 2017 changes its slogan ‘Because you’re worth it’ to ‘We are all worth it’ with respect to catering to a more diverse and inclusive audience. In the following year, the brand for the first time featured a male model- Gary Thompson blogger and makeup artist in a cosmetics campaign for its True Match Foundation campaign.

The market has witnessed a decline in the wake of the COVID-19 pandemic because of the discretionary spending and behavioral shift towards health and hygiene products. Brands have been strengthening the e-commerce platforms by improving their supply chains. Customer discount programs such as No-shave November offers have been a prominent factor to build user engagement on the company website and other e-commerce platforms amid this pandemic.

The hypermarket and supermarket distribution channel dominated the market and accounted for over 45.6% share of global revenue in 2019. Retailers such as Ulta, Sephora, Walmart, Target, and Beauty Corner are contributing to segment growth by launching men’s counter catering to men’s personal care products. For instance, in 2018 Ulta salon launched an in-store men’s boutique, which will feature products from prominent retailers such as Procter and Gamble- grooming products.

The E-commerce distribution channel is expected to witness the fastest growth rate over the forecast period. The rising popularity of e-commerce and third-party e-retailers such as Amazon, Nykaa, and Sephora among the manufactures has been driving the sale through this channel. Increasing online shelf space in men’s personal care category and corresponding offers bode well with segment growth. For instance, in August 2017, the Nivea brand launched its website exclusive for men called Groom Room providing products for men’s personal care needs and numerous blogs describing daily care routines and personal care regimes for men.

North America dominated the market and accounted for over 29.2% share of global revenue in 2019. Growing consciousness, personal care routine, and use of natural and organically sourced products that are free from chemicals and are nontoxic in nature are the key driving factor for the growth of the market in the region. In addition, the growing adoption of business strategies such as mergers and acquisitions among the key players is propelling market growth. For instance, In November 2019, Estée Lauder Companies announced an agreement to acquire men’s grooming brand Do The Right. This deal would strengthen and help to expand The Estee Lauder Companies’ leadership position in countries such as South Korea and the U.K.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/mens-personal-care-market

Further key findings from the study suggest:

The personal grooming segment is expected to emerge as the fastest-growing product segment with a CAGR of 6.3% during the forecast period. Products such as shaving cream, serum, beard grooming kits, and travel packs offered by mid-range and premium brands are likely to boost segment growth
E-commerce distribution channel emerged as the fastest distribution channel in 2019 and is expected to retain its pole position throughout the forecast period. The increasing availability of a wide number of men’s personal care products, free delivery, and seasonal discount on the e-retailer platform are among the major reasons driving the segment
In Asia Pacific, the market is expected to witness a CAGR of 6.4% from 2020 to 2027. Growing awareness pertaining to skin wellness and personal care routine with a shift in the lifestyle are some of the factors boosting the market in the region

Audiology Devices Market Worth $15.5 Billion By 2026

The global audiology devices market size is expected to reach USD 15.5 billion by 2026 registering a CAGR of 5.8%, according to a new report by Grand View Research, Inc. Increasing cases of hearing disorders, especially in geriatric population, rising purchasing capacity, investments in R&D, and government support for better healthcare infrastructure are expected to drive the market over the forecast period.

High comfort offered by newly introduced devices, improved connectivity, and better user interface are some of the factors attributing to high usage rate of audiology devices. Better quality of life along with acceptance of digital hearing aids are anticipated to further drive the market. In a study published in January 2019, it was observed that hearing aids reduce symptoms associated with dementia. However, usage is hampered due to the exclusion of hearing aids or exams for fitting hearing aids from the Original Medicare program.

Hearing aids segment led the market in 2018 and will hold its leading position in future. However, cochlear implants is expected to be the fastest-growing segment over the forecast period. Cochlear implants are widely used owing to their high effectiveness, in terms of sentence understanding.

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https://www.grandviewresearch.com/industry-analysis/audiology-devices-market

Further key findings from the report suggest:

Digital hearing aids led the technology segment in terms of market share in 2018 due to their increased adaptability and connectivity with mobile devices
Retail sales channel was the dominant segment in 2018 and is projected to expand further at the fastest CAGR during the forecast period
North America dominated the global audiology devices market in 2018 due to technological advancements and presence of major market participants in the region
Asia Pacific is anticipated to witness the fastest CAGR owing to improving healthcare infrastructure along with growing geriatric population in emerging countries, such as India and China
Key industry participants include GN ReSound Group;William Demant Holdings A/S; Starkey Hearing Technologies; Widex A/S; Sonova Holdings AG; Phonak, Audioscan; MedRx; Austar Hearing; National Hearing Care; and NHC/Amplifon

Vegan Women’s Fashion Market Size Worth $1,095.6 Billion By 2027

The global vegan women’s fashion market size is anticipated to reach USD 1,095.6 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 13.6% from 2020 to 2027. Increasing the inclination of people towards cruelty-free fashion is an important aspect of driving the demand for fashion apparel made from vegan material.

People in developed countries, especially in the U.S, the U.K., France, and Germany have become more receptive to the concepts of veganism and have been following this practice in all walks of life, including food habits and clothing. These consumers do not mind paying higher prices for vegan women’s fashion, thus fueling the growth of the market.

Enthused by the opportunity existence, companies pertaining to vegan fashion not only focus on providing the latest styles but also cater to cultural trends and burgeoning style quotient to attract a varied set of consumers through constant product launch. For instance, in August 2019, an Amsterdam-based denim brand called Kings of Indigo, announced itself to be a fully-vegan company with the launch of ‘no new cotton’ capsule collection- Re Gen, offering a limited edition of jeans and jacket collection for women, men, and kids. Such developments are expected to create a healthy demand for the product over the forecast period.

Based on the product, the vegan footwear segment led the market and accounted for 41.3% share of the global revenue in 2019. The growing popularity of animal safety among consumers has goaded established footwear manufacturers to offer elegant footwear made from natural ingredients to pique the interest of the informed customers. For instance, in November 2019, Reebok International Limited, a company owned by Adidas AG, unveiled the design for its first plant-based running shoe, called Floatride GROW. The upper part of the shoe is made primarily from eucalyptus whereas its soles are made from castor beans and natural rubber. The company had launched this design two years after it started selling a vegan version of its famed Newport Classic shoes made with cotton and corn.

By distribution channel, specialty stores dominated the market and accounted for 31.4% share of the global revenue in 2019. Wide product range, offers, and discounts attracting a larger number of consumers are the key strategies opted by such channels to increase revenue and footfall in any store. In addition, these stores keep their stores more updated with the latest vegan fashion trends in the market, thus attracting more consumers who are looking for variety in the product.

Covid-19 pandemic has affected the sales of vegan women’s fashion adversely as people have become more focused on their buying behavior and consider avoiding buying fashionable apparel or accessories. The vegan fashion market is in the burgeoning stage and has been severely impacted by the lockdown condition and supply chain disruption. According to the entrepreneur.com, the U.K. apparel sector is expected to be the worst affected with a decline of more than 41% in the usual spending by consumers since the outbreak of the coronavirus.

North America dominated the market for vegan women’s fashion and accounted for 34.6% share of the global revenue in 2019. Growth in the market is powered by the strong presence of manufacturers, including Whimsy & Row and Reformation, along with a well-developed supply chain in the region. Moreover, people in countries such as the U.S. have a large number of animal rights organizations, such as the American Society for the Prevention of Cruelty to Animals, and The Anti-Cruelty Society, which have been promoting the concept of veganism.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/vegan-womens-fashion-market

Further key findings from the study suggest:

Europe is expected to expand at the fastest CAGR of 14.5% from 2020 to 2027. Social media marketing campaigns, growing preference for vegan women’s fashion apparel by millennials, and the presence of a large number of manufactures are expected to drive the market in the region. The U.K. and Germany are among the top two countries witnessing the growth of the market
The e-commerce segment is expected to emerge as the fastest distribution channel over the forecast period. The increasing availability of a wide number of vegan women’s fashion clothing and accessories of different brands at affordable prices on e-retailer platforms is one of the main factors fueling the segment growth.
The specialty store distribution channel segment held the leading revenue share in 2019. Adoption of key strategies such as offers and discounts by the market players along with the availability of a wide range of products is anticipated to attract a larger consumer base and fuel the growth of the segment
By product, the vegan footwear segment dominated the market and accounted for a share of 41.3% in 2019 as it is becoming more of a fashion statement among women. Moreover, increasing popularity of animal safety among consumers is fueling the demand for these products

Whey Protein Market Size Worth $18.4 Billion By 2027

The global whey protein market size is projected to reach USD 18.4 billion by 2027, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 9.8% from 2020 to 2027. The demand for whey protein is projected to be driven by growing innovation in terms of manufacturing proteins that contain a broad range of amino acids and perform specific functions including weight loss, energy balance, satiety, and muscle repair by various manufacturers in the industry.

The Whey Protein Concentrate (WPC) segment is projected to exhibit steady growth owing to their superior characteristics, including a high rate of absorption by muscles and tissues as well as the ability to assist in fat loss, promote lean muscle growth, ensure a healthy metabolism, and provide cardiovascular support in comparison with the other protein ingredients.

In addition, the rising adoption of nutraceuticals as a result of growing health awareness among consumers is expected to fuel the demand for Whey Protein Isolate (WPI) as a functional ingredient. WPI-based nutritional and food supplements are known to boost and maintain the energy levels in the human body.

Growing consumer interest in weight management, especially in working professionals, owing to the increasing concerns regarding obesity, is expected to amplify market growth over the next few years. The rising consumer inclination toward slimming food products and supplements, especially sports enthusiasts, is projected to further augment the demand.

Additionally, increasing incidences of various diseases caused due to the fast-paced and unhealthy lifestyles are likely to encourage consumers across the globe to turn towards health supplements. Such factors are likely to impel the market in China in the coming years.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/whey-protein-market

Further key findings from the report suggest:

The WPC segment is projected to witness a CAGR of 9.3% in terms of revenue share over the forecast period. The rising consumption of yogurt-based products such as drinkable yogurts, low-fat yogurts, and organic yogurts, to name a few, comprising natural components, is likely to spur the growth of the segment over the upcoming years
The nutritional supplements application segment accounted for more than 30.7% of the revenue share in 2019. Rising consumption of the product among consumers, such as weekend warriors, core strength and endurance athletes, professional athletes, and fitness enthusiasts is expected to drive the segment
In Europe, the market is expected to witness a reasonable growth over the forecast period owing to various factors such as increasing emphasis on healthy living, growing trend of preventive health care, and rising demand for protein supplements from countries including the U.K. and Germany
In Asia Pacific, China accounted for the largest revenue share in the market and is expected to witness considerable growth over the next few years on account of rising consumption of high fiber food and beverage products in the country
In April 2019, Saputo Inc. announced the acquisition of Dairy Crest Group Plc, which is based in the U.K. The latter produces cheese, butter, spreads, oils, and demineralized whey powder, and employed around 1,100 personnel as of 2019. The acquisition of Dairy Crest Group Plc has strengthened the position of Saputo Inc. in the U.K.

Web Hosting Services Market Size Worth $171.4 Billion By 2027

The global web hosting services market size is expected to reach USD 171.4 billion by 2027, registering a compound annual growth rate (CAGR) of 15.5% over the forecast period, according to a new study by Grand View Research, Inc. The rapidly growing adoption of smartphones, coupled with the increasing internet penetration rate is anticipated to boost the market growth. The growing number of websites has also contributed to the growth of the market.

The rising number of small and medium enterprises is one of the significant growth contributors. These enterprises use web hosting services to increase their presence over the internet. The shift in the customer buying behavior from brick and mortar stores to online channels has made organizations develop and expand their online presence. Companies all over the globe are massively investing in increasing their business presence over the online channels. Additionally, the growth in internet users, coupled with growing inclination toward online purchasing, has also resulted in increased traffic on big business websites and mobile applications, especially those engaged in e-commerce activities. Therefore, these large-scale enterprises opt for private servers to host their website. Private servers enable these companies to effectively manage their heavy traffic on websites with improved security accesses.

Moreover, individuals also host their content over the internet to make it available for everyone who wants to access it. This content can be in the form of a personal website, blogs, and vlogs, among others. People access these websites or blogs to gain information or insights related to a wide variety of topics, including science, technology, medicine, environment, among several others. Although individuals are observed to be contributing less than 10% in the overall market, web hosting service providers tend to offer various plans to increase their customer base.

The market is expected to witness significant growth as a result of COVID-19 outbreak. The pandemic has resulted in increased use of websites for placing orders and hence made most of the companies to change the way business is conducted. Most of the companies have switched to doing their business online. Therefore, in the coming years, companies will focus on developing their online presence to cater to such unprecedented times. This increasing focus on conducting online business activities is expected to positively influence the market growth over the forecast period.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/web-hosting-services-market

Further key findings from the study suggest:

The shared hosting segment dominated the market with a share of 37.64% in 2019, attributed to the high adoption and lower cost of shared hosting plans offered by the companies
The public website segment held the largest share in the market owing to the growing number of small and medium businesses, especially in the e-commerce sector
The hybrid segment is anticipated to register a CAGR of more than 15% in 2019 owing to its benefits of an affordable cost and enhanced security
In 2019, small and medium enterprises accounted for the largest share in the market due to the presence large number of SMEs across the globe
The U.S. market is anticipated to account for the highest market share from 2020 to 2027, owing to the presence of large number of service providers in the country

2D Barcode Reader Market Worth $8.6 Billion By 2025

The global 2D barcode reader market size is expected to reach USD 8.60 billion by 2025, registering a CAGR of 4.7% over the forecast period, according to a new report by Grand View Research, Inc. The market is expected to grow as incumbents of industries, such as retail, transportation & logistics, warehousing, and e-commerce, continue to adopt various tools to increase the operational efficiency of their business operations. Initiatives being undertaken by businesses to develop innovative strategies and adopt strategic methods and tools to gain a competitive edge in the marketplace also bode well for the growth of the market.

A barcode reader is emerging as one of the solutions that can potentially help businesses in ensuring lean operations and improving productivity. As a result, manufacturers operating in the market are responding to the situation by focusing on the development of innovative technologies for enhancing the barcode reading capabilities and offering numerous benefits to several end-use industries. The development of 2-Dimensional (2D) barcode scanners has particularly helped in solving several problems and challenges, such as having the capability to scan 2D barcodes while also ensuring the backward compatibility to scan 1-Dimensional (1D) barcodes.

A 2D barcode reader has assumed a pivotal role in increasing the operational efficiency of businesses. Owing to advantages such as higher accuracy, higher scanning speed, reduction in clerical cost, and improvement in customer service, the 2D barcode reader has cemented its position as a prominent tool for streamlining internal and external operations. Apart from being compact and flexible, the reader can also turn out to be an economical solution with a payback period of just 3-6 months. It is particularly getting vital for the industrial sector as a result.

The adoption of barcode technology as an automatic identification/scanning system has helped significantly in reducing human errors. A typical error rate for human data entry is estimated at around 1 error per 300 characters typed. However, the error rate of a barcode reader is estimated at 1 error per 35 trillion characters. Thus, from accelerating the checkout process in the retail industry to tracking inventories in warehouses, barcode scanners have eventually proliferated into a myriad of business operations. These scanners can not only help businesses in conserving their resources but in optimizing the data entry process, improving real-time visibility of the products, and enhancing the productivity of employees.

However, the proliferation of mobile barcode Software Development Kits (SDKs) is anticipated to hinder the growth of the market. Organizations with low-volume operations are particularly preferring smartphones over scanners for barcodes to reduce their operational costs. The adoption of Bring Your Own Device (BYOD) policies is also anticipated to encourage the adoption of barcode scanning apps over readers. In other words, any growth in the usage of smartphones for scanning barcodes can potentially take a toll on the demand for dedicated 2D barcode readers.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/2d-barcode-reader-market

Further key findings from the study suggest:

The global market for 2D barcode reader was valued at USD 6.39 billion in 2018 and is expected to exhibit a CAGR of 4.7% from 2019 to 2025
The handheld segment accounted for the largest revenue share of over 65% in 2018 and is anticipated to register a CAGR of 5.2% over the forecast period
The logistics segment is anticipated to exhibit the highest CAGR of 6.1% over the forecast period as transporters continue to deploy barcode readers at their logistics facilities
The warehousing segment dominated the market in 2018 and was valued at USD 2.60 billion as warehousing companies aggressively adopted 2D barcode readers to track inventories
The Asia Pacific regional market was valued at USD 2.66 billion in 2018 and is expected to register a significant growth rate owing to the booming e-commerce industry and the continued rollout of warehousing network, particularly in developing countries, such as India and China
The key players dominating the 2D barcode reader market include Zebra Technologies Corporation, Datalogic S.p.A., Cognex Corporation, Honeywell International Inc., and Keyence Corporation, among others

U.S. Vaginal Moisturizers And Lubricants Market Worth $1.0 Billion By 2027

The U.S. vaginal moisturizers and lubricants market size is expected to reach USD 1.0 billion by 2027, expanding at a CAGR of 8.7% during the forecast period, based on a new report by Grand View Research, Inc. Market growth can be attributed to the increasing target population, growing demand for vaginal lubricants, and increasing awareness regarding sexual health among women. According to the Study of Women Across the Nation (SWAN), more than 2,400 women above the age of 17 and around 19.0% of women aged 42 to 53 suffer from vaginal dryness. Thus, increasing incidences of dryness is likely to drive the market for vaginal lubricants and moisturizers over the forecast period.

Various social media movements, such as the third wave of feminism, is aimed at breaking taboos around sexual health and assisting in changing the general attitude towards sex. Over the past few years, the sexual wellness market has shifted focus toward women’s products. Companies are offering conventional products with glamorous packaging, hence, helping to create more awareness around sexual health.

A considerable number of young people not aware of sexual health can increase the prevalence of STDs. September is considered as a sexual health awareness month in the U.S., which is expected to raise awareness among citizens about sexual health and wellness. A significant number of women suffer from vaginal dryness; however, they do not seek medical help, which is likely to hinder the market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/us-vaginal-moisturizers-lubricants-market

Further key findings from the study suggest:

By distribution channel, retail dominated the market and is likely to witness the fastest growth over the forecast period
An increasing number of fashion retailers are offering sexual wellness products, which is expected to introduce the younger generations to more sexual health and wellness products. A liberal lifestyle and social acceptance have led to the growth of adult stores around the country
In November 2018, Durex formed a partnership with RED. This partnership was aimed at supporting its mission to end AIDS. Funds generated from the sale of the Durex RED condom were to be invested in South Africa where over 7.2 million people have HIV/AIDS
Searchlight Pharma announced Fonds de solidarité FTQ and Emerillon Capital as the new strategic financial partners in October 2017. The partnership is expected to assist the growth of Searchlight Pharma.

Knee Braces Market Size Worth $2.1 Billion By 2026

The global knee braces market size is anticipated to reach USD 2.1 billion by 2026, according to a new report by Grand View Research, Inc. It is expected to expand at a 4.3% CAGR during the forecast period. Rising prevalence of osteoarthritis and number of sports-related injuries are the key growth boosters for this market. The increasing burden of obesity is also anticipated to encourage youth to engage sports activities. Easy availability of braces through online stores is projected to further drive the product demand. This helps overcome the geographical barrier and facilitates easy product access.

Rising geriatric population plays a significant role in the market growth. According to the Department of Economic and Social Affairs Population Division, the global share of people aging 60 years and above has grown from 9.2% in 1990 to 11.7% in 2013, and this share is expected to rise to 21.1% by 2050. In 2017, the American Joint Replacement Registry released its Annual Report on the data related to knee arthroplasty that indicated a 101% rise in the procedures from the data collected for a period 2012 to 2016.The use of braces is mandatory after knee replacement surgeries to minimize the pain and to support the joints. Hence, these chronic diseases and associated surgeries create huge demand, thereby driving the growth of the overall market.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/knee-braces-market

Further key findings from the report suggest:

Functional braces is the fastest growing segment of the knee braces market, owing to the rise in sports-related injuries and the wide acceptance of these braces
Arthritis led the application segment in 2018 and is expected to register a CAGR of 4.3% by 2026. The growth can be attributed to the rising prevalence of osteoarthritis and other joint-related diseases. Moreover, novel products such as unloader braces is anticipated to have wider application and acceptance thereby positively influence the market
E-commerce delivery channel segment is expected to showcase lucrative growth over the forecast period, due to huge product availability and rapid product delivery
North America held the largest revenue share in 2018, due to easy product availability online at a discounted rate. Asia Pacific is expected to emerge as the fastest growing regional market over the forecast period
Some of the major market players include Breg Inc.; Ossur; Otto Bock; Clofex Corporation; McDavid; Tyron; and Mava Sports

Personal Lubricant Market Size Worth $1.6 Billion By 2026

The global personal lubricant market size is expected to reach USD 1.6 billion by 2026, based on a new report by Grand View Research, Inc., exhibiting a CAGR of 8.1%. New product launches to meet demand for natural lubricants is expected to aid market growth over the forecast period.

Emerging players are trying to capture higher share by developing lubricants made from natural and organic ingredients. Good Clean Love, Inc., an Oregon-based company in the U.S., was the first to develop organic lubricants. In November 2016, the company received a patent for its formulation of organic lubricants.

Moreover, promotional activities from manufacturers to destigmatize societal perception of using personal lubricants has positively impacted growth. For instance, in January 2019, Reckitt Benckiser’s Durex brand launched a marketing campaign on a global platform to challenge the misconceptions of using lubricants for female sexual discomfort.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/personal-lubricant-market

Further key findings from the study suggest:

Water-based lubricants dominated the market in 2018, owing to lower prices and as they are easy to wash off
Leading brands such as Durex, Sliquid, and Astroglide retail a range of water-based lubricants with variations in flavors, pack size, and packaging
In July 2018, Trigg Laboratories, Inc. reinvented its entire product line with new packaging and products, which had contemporary, sleek, and modern designs. It also launched a new product line—Wet Hemptation and Wet Dessert
The growing presence of e-commerce platforms and online retailers that offer freedom to select any product and make discrete delivery has helped overcome social taboo of buying these products
Manufacturers, retail pharmacies, and supermarkets have also launched websites for providing easy access to customers.
Geographically, North America held the largest share in 2018. The personal lubricant market is regulated by the U.S. FDA and manufacturers must comply with good manufacturing practices, and receive 510(k) medical device clearance for marketing
In May 2016, Trigg Laboratories received FDA approval for Wet Original Personal lubricant by meeting the provisions for labeling, good manufacturing practices and prohibitions against adulteration and misbranding
According to U.S. Census data and National Consumer survey, in 2018, K-Y lubricants were used by 28.58 million people, aiding it to capture significant share in the U.S.
Asia Pacific is expected to be the fastest growing market during the forecast period. Aging population and high incidence of vaginal dryness & erectile are anticipated to drive demand.

Payment Gateway Market Worth $71.22 Billion By 2027

The global payment gateway market size is expected to reach USD 71.22 billion by 2027 registering a CAGR of 21.5% from 2020 to 2027, according to a new report by Grand View Research, Inc. The market growth can be attributed to the increasing use of these billing methods across the globe. Growing usage of various digital channels for payments has also been driving the market growth.

Various companies are using these systems as they allow secure internet transactions, which helps prevent or avoid debit or credit card scams and other fraudulent activities. Such methods also help automate the complete billing process, with faster processing speed and error-free computations.

Various factors, such as the growing trend of digitalization and rising usage of numerous online billing modes like net banking and mobile wallets, are anticipated to propel the market growth over the forecast period. In addition, merging of major e-commerce sites with various payment gateway platforms, partnerships between banks and online retailers, and attractive cashback offers on online billing, are further expected to drive the payment gateway market growth.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/payment-gateway-market

Further key findings from the study suggest:

The hosted segment is expected to account for the largest market share over the forecast period
Payment gateways can deliver a significant uplift to the profitability of a small & medium enterprises by delivering better customer experience and reducing transaction costs
Various factors, such as better shopping experience and increased usage of smartphones, are expected to create growth opportunities for the market in the retail & e-commerce end-use segment
North America is estimated to be the largest regional market due to high demand for faster billing solutions as a result of growing e-commerce sales and rapidly changing retail market
Key vendors in the market include Stripe; Braintree; Authorize.Net; PayPal Holdings, Inc.; and Amazon Payments, Inc.