Buy Now Pay Later Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

Published: May 2022

Pages: 133

SKU: IRTNTR73493

Snapshot

The buy now pay later market's growth momentum will accelerate at a CAGR of 29.36% and the market share will increase to USD 41.83 billion from 2021 to 2026.

This buy now pay later market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers buy now pay later market segmentation by:

Channel - Online and POS
End-user - Large enterprise and Small and medium enterprise
Geography - North America, Europe, APAC, South America, and Middle East and Africa

The buy now pay later market report also offers information on several market vendors, including Affirm Inc., Afterpay US Services LLC, Amazon.com Inc., APaylater Financials Pte. Ltd., Grab Holdings Inc., Hoolah Holdings Pte Ltd., Klarna Bank AB, Laybuy Holdings Ltd., Monzo Bank Ltd., One97 Communications Ltd., Pace Now Enterprise Sdn Bhd, PayPal Holdings Inc., Perpay Inc., Revolut Ltd., Social Money Ltd., Visa Inc., Zip Co. Ltd., Rely Pte Ltd, Mastercard Inc., and Flipkart Internet Pvt Ltd among others.

What will the Buy Now Pay Later Market Size be During the Forecast Period?

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Buy Now Pay Later Market: Key Drivers, Trends, and Challenges

The increasing adoption of online payment method is notably driving the buy now pay later market growth, although factors such as the BNPL encourages impulse spending may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the buy now pay later industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Buy Now Pay Later Market Driver

One of the key factors driving growth in the buy now pay later market is the increasing adoption of online payment method.
The primary digital payment technologies are mobile payment, debit card, and credit card, which provide individuals with several benefits such as lower transaction costs, faster fund transfers, and increased payment security, all of which contribute to the expansion of the global BNPL market.
The availability of high-speed internet access, a surge in smartphone adoption, and increased awareness of digital payment services are all essential elements that encourage people to use online payment technology.
As the use of smartphones and faster internet has increased, retailers and customers have been able to receive and make payments via digital platforms, propelling the growth of the global BNPL market.
Owing to the adoption of BNPL technology and online payment methods across small- and medium-sized businesses in developing countries such as China, Japan, and India, the industry is expected to rise during the forecast period.

Key Buy Now Pay Later Market Trend

The affordable and convenient payment service is a buy now pay later market trend that is expected to have a positive impact in the coming years.
The BNPL payment method provides individuals with various advantages, including affordable and convenient payment services, fast credit card fund transfer service at the point of sale platform, and increased personal information security, all of which contribute to the global BNPL market growth.
The BNPL platform enables customers to make secure payments without having to swipe their debit cards, boosting market growth globally.
The BNPL platform's major benefits include reminders regarding payback, boosting an individual's credit score, and digitally monitoring transaction details, all of which help to accelerate the market's global expansion. Such advantages offered by the buy now platform to consumers and merchants drive the growth of the global BNPL market globally.

Key Buy Now Pay Later Market Challenge

The BNPL encourages impulse spending and will be a major challenge for the buy now pay later market during the forecast period.
People can use BNPL platforms to obtain things and services without having to pay any money upfront.
Customers are frequently encouraged to buy more things than they can afford. If consumers are unable to pay on time, this can place them in a difficult financial situation and potentially harm their credit scores.
The market is being driven by the option to pay later. However, this element may have an impact on the global BNPL market.
The BNPL option can result in a financial loss for businesses. Thus, these factors may hinder the growth of the global BNPL market.

This buy now pay later market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global buy now pay later (BNPL) market as a part of the global specialized consumer services market within the global diversified consumer services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the buy now pay later market during the forecast period.

Who are the Major Buy Now Pay Later Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

This statistical study of the buy now pay later market encompasses successful business strategies deployed by the key vendors. The buy now pay later market is fragmented and the vendors are deploying growth strategies such as investing in R&D to improve the technical characteristics of BNPL systems to compete in the market.

Product Insights and News

Affirm Inc. - Affirm Inc. is a public company headquartered in the US. It is a global company generating $429.4 million in revenues and has around 1,641 employees. Its revenue from the global buy now pay later market contributes to its overall revenues along with its other offerings, but it is not a key revenue stream for the company.
Affirm Inc. - The company offers Pay with Affirm which let users pay over time.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The buy now pay later market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Buy Now Pay Later Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the buy now pay later market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Buy Now Pay Later Market?

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34% of the market's growth will originate from North America during the forecast period. The US is the key market for buy now pay later in North America. Market growth in this region will be slower than the growth of the market in the European, APAC and MEA regions.

The increasing partnerships by market players will facilitate the buy now pay later market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the COVID-19 pandemic negatively impacted most North American countries, which resulted in the temporary closure of various industries. Governments in countries such as the US, Canada, and Mexico imposed stringent COVID-19-related restrictions, such as nationwide lockdowns and stay-at-home regulations. Customers have turned to online e-commerce platforms as a result of the epidemic, prompting various businesses to enter the online industry. This trend is expected to continue during the forecast period contributing to the regional BNPL market growth.

What are the Revenue-generating Channel Segments in the Buy Now Pay Later Market?

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The buy now pay later market share growth by the online segment will be significant during the forecast period. The online segment held a major share in the global BNPL market in 2021. Sales through this segment are predicted to develop substantially during the forecast period due to the growing trend of online selling or retailing. Online sales are increasing at a significantly faster rate than in-store sales, indicating that e-commerce will continue to be a major development driver of market growth.

This report provides an accurate prediction of the contribution of all the segments to the growth of the buy now pay later market size and actionable market insights on post COVID-19 impact on each segment.

Buy Now Pay Later Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 29.36%
Market growth 2022-2026	$ 41.83 billion
Market structure	Fragmented
YoY growth (%)	27.92
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 34%
Key consumer countries	US, China, India, Germany, and UK
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Affirm Inc., Afterpay US Services LLC, Amazon.com Inc., APaylater Financials Pte. Ltd., Grab Holdings Inc., Hoolah Holdings Pte Ltd., Klarna Bank AB, Laybuy Holdings Ltd., Monzo Bank Ltd., One97 Communications Ltd., Pace Now Enterprise Sdn Bhd, PayPal Holdings Inc., Perpay Inc., Revolut Ltd., Social Money Ltd., Visa Inc., Zip Co. Ltd., Rely Pte Ltd, Mastercard Inc., and Flipkart Internet Pvt Ltd
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Buy Now Pay Later Market Report?

CAGR of the market during the forecast period 2022-2026
Detailed information on factors that will drive buy now pay later market growth during the next five years
Precise estimation of the buy now pay later market size and its contribution to the parent market
Accurate predictions on upcoming trends and changes in consumer behavior
The growth of the buy now pay later industry across North America, Europe, APAC, South America, and Middle East and Africa
A thorough analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of buy now pay later market vendors

We can help! Our analysts can customize this report to meet your requirements. Get in touch

Table of Contents

1 Executive Summary

1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Channel
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics

3 Market Sizing

3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis
- Exhibit 13: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026
- Exhibit 14: Chart on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 15: Data Table on Global - Market size and forecast 2021-2026 ($ million)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2021-2026 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary
- Exhibit 18: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers
- Exhibit 19: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers
- Exhibit 20: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants
- Exhibit 21: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes
- Exhibit 22: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry
- Exhibit 23: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition
- Exhibit 24: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Channel

5.1 Market segments
- Exhibit 25: Chart on Channel - Market share 2021-2026 (%)
- Exhibit 26: Data Table on Channel - Market share 2021-2026 (%)

5.2 Comparison by Channel
- Exhibit 27: Chart on Comparison by Channel
- Exhibit 28: Data Table on Comparison by Channel

5.3 Online - Market size and forecast 2021-2026
- Exhibit 29: Chart on Online - Market size and forecast 2021-2026 ($ million)
- Exhibit 30: Data Table on Online - Market size and forecast 2021-2026 ($ million)
- Exhibit 31: Chart on Online - Year-over-year growth 2021-2026 (%)
- Exhibit 32: Data Table on Online - Year-over-year growth 2021-2026 (%)

5.4 POS - Market size and forecast 2021-2026
- Exhibit 33: Chart on POS - Market size and forecast 2021-2026 ($ million)
- Exhibit 34: Data Table on POS - Market size and forecast 2021-2026 ($ million)
- Exhibit 35: Chart on POS - Year-over-year growth 2021-2026 (%)
- Exhibit 36: Data Table on POS - Year-over-year growth 2021-2026 (%)

5.5 Market opportunity by Channel
- Exhibit 37: Market opportunity by Channel ($ million)

6 Market Segmentation by End-user

6.1 Market segments
- Exhibit 38: Chart on End-user - Market share 2021-2026 (%)
- Exhibit 39: Data Table on End-user - Market share 2021-2026 (%)

6.2 Comparison by End-user
- Exhibit 40: Chart on Comparison by End-user
- Exhibit 41: Data Table on Comparison by End-user

6.3 Large enterprise - Market size and forecast 2021-2026
- Exhibit 42: Chart on Large enterprise - Market size and forecast 2021-2026 ($ million)
- Exhibit 43: Data Table on Large enterprise - Market size and forecast 2021-2026 ($ million)
- Exhibit 44: Chart on Large enterprise - Year-over-year growth 2021-2026 (%)
- Exhibit 45: Data Table on Large enterprise - Year-over-year growth 2021-2026 (%)

6.4 Small and medium enterprise - Market size and forecast 2021-2026
- Exhibit 46: Chart on Small and medium enterprise - Market size and forecast 2021-2026 ($ million)
- Exhibit 47: Data Table on Small and medium enterprise - Market size and forecast 2021-2026 ($ million)
- Exhibit 48: Chart on Small and medium enterprise - Year-over-year growth 2021-2026 (%)
- Exhibit 49: Data Table on Small and medium enterprise - Year-over-year growth 2021-2026 (%)

6.5 Market opportunity by End-user
- Exhibit 50: Market opportunity by End-user ($ million)

7 Customer Landscape

7.1 Customer landscape overview
- Exhibit 51: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

8 Geographic Landscape

8.1 Geographic segmentation
- Exhibit 52: Chart on Market share by geography 2021-2026 (%)
- Exhibit 53: Data Table on Market share by geography 2021-2026 (%)

8.2 Geographic comparison
- Exhibit 54: Chart on Geographic comparison
- Exhibit 55: Data Table on Geographic comparison

8.3 North America - Market size and forecast 2021-2026
- Exhibit 56: Chart on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 57: Data Table on North America - Market size and forecast 2021-2026 ($ million)
- Exhibit 58: Chart on North America - Year-over-year growth 2021-2026 (%)
- Exhibit 59: Data Table on North America - Year-over-year growth 2021-2026 (%)

8.4 Europe - Market size and forecast 2021-2026
- Exhibit 60: Chart on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 61: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
- Exhibit 62: Chart on Europe - Year-over-year growth 2021-2026 (%)
- Exhibit 63: Data Table on Europe - Year-over-year growth 2021-2026 (%)

8.5 APAC - Market size and forecast 2021-2026
- Exhibit 64: Chart on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 65: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
- Exhibit 66: Chart on APAC - Year-over-year growth 2021-2026 (%)
- Exhibit 67: Data Table on APAC - Year-over-year growth 2021-2026 (%)

8.6 South America - Market size and forecast 2021-2026
- Exhibit 68: Chart on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 69: Data Table on South America - Market size and forecast 2021-2026 ($ million)
- Exhibit 70: Chart on South America - Year-over-year growth 2021-2026 (%)
- Exhibit 71: Data Table on South America - Year-over-year growth 2021-2026 (%)

8.7 Middle East and Africa - Market size and forecast 2021-2026
- Exhibit 72: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 73: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
- Exhibit 74: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
- Exhibit 75: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

8.8 US - Market size and forecast 2021-2026
- Exhibit 76: Chart on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 77: Data Table on US - Market size and forecast 2021-2026 ($ million)
- Exhibit 78: Chart on US - Year-over-year growth 2021-2026 (%)
- Exhibit 79: Data Table on US - Year-over-year growth 2021-2026 (%)

8.9 Germany - Market size and forecast 2021-2026
- Exhibit 80: Chart on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 81: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
- Exhibit 82: Chart on Germany - Year-over-year growth 2021-2026 (%)
- Exhibit 83: Data Table on Germany - Year-over-year growth 2021-2026 (%)

8.10 China - Market size and forecast 2021-2026
- Exhibit 84: Chart on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 85: Data Table on China - Market size and forecast 2021-2026 ($ million)
- Exhibit 86: Chart on China - Year-over-year growth 2021-2026 (%)
- Exhibit 87: Data Table on China - Year-over-year growth 2021-2026 (%)

8.11 UK - Market size and forecast 2021-2026
- Exhibit 88: Chart on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 89: Data Table on UK - Market size and forecast 2021-2026 ($ million)
- Exhibit 90: Chart on UK - Year-over-year growth 2021-2026 (%)
- Exhibit 91: Data Table on UK - Year-over-year growth 2021-2026 (%)

8.12 India - Market size and forecast 2021-2026
- Exhibit 92: Chart on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 93: Data Table on India - Market size and forecast 2021-2026 ($ million)
- Exhibit 94: Chart on India - Year-over-year growth 2021-2026 (%)
- Exhibit 95: Data Table on India - Year-over-year growth 2021-2026 (%)

8.13 Market opportunity by geography
- Exhibit 96: Market opportunity by geography ($ million)

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges
- Exhibit 97: Impact of drivers and challenges in 2021 and 2026

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape
- Exhibit 98: Overview on Criticality of inputs and Factors of differentiation

10.3 Landscape disruption
- Exhibit 99: Overview on factors of disruption

10.4 Industry risks
- Exhibit 100: Impact of key risks on business

11 Vendor Analysis

11.1 Vendors covered
- Exhibit 101: Vendors covered

11.2 Market positioning of vendors
- Exhibit 102: Matrix on vendor position and classification

11.3 Affirm Inc.
- Exhibit 103: Affirm Inc. - Overview
- Exhibit 104: Affirm Inc. - Product / Service
- Exhibit 105: Affirm Inc. - Key offerings

11.4 Afterpay US Services LLC
- Exhibit 106: Afterpay US Services LLC - Overview
- Exhibit 107: Afterpay US Services LLC - Product / Service
- Exhibit 108: Afterpay US Services LLC - Key offerings

11.5 Amazon.com Inc.
- Exhibit 109: Amazon.com Inc. - Overview
- Exhibit 110: Amazon.com Inc. - Business segments
- Exhibit 111: Amazon.com Inc. - Key news
- Exhibit 112: Amazon.com Inc. - Key offerings
- Exhibit 113: Amazon.com Inc. - Segment focus

11.6 Klarna Bank AB
- Exhibit 114: Klarna Bank AB - Overview
- Exhibit 115: Klarna Bank AB - Product / Service
- Exhibit 116: Klarna Bank AB - Key offerings

11.7 Laybuy Holdings Ltd.
- Exhibit 117: Laybuy Holdings Ltd. - Overview
- Exhibit 118: Laybuy Holdings Ltd. - Product / Service
- Exhibit 119: Laybuy Holdings Ltd. - Key offerings

11.8 Mastercard Inc.
- Exhibit 120: Mastercard Inc. - Overview
- Exhibit 121: Mastercard Inc. - Product / Service
- Exhibit 122: Mastercard Inc. - Key news
- Exhibit 123: Mastercard Inc. - Key offerings

11.9 Monzo Bank Ltd.
- Exhibit 124: Monzo Bank Ltd. - Overview
- Exhibit 125: Monzo Bank Ltd. - Product / Service
- Exhibit 126: Monzo Bank Ltd. - Key offerings

11.10 PayPal Holdings Inc.
- Exhibit 127: PayPal Holdings Inc. - Overview
- Exhibit 128: PayPal Holdings Inc. - Product / Service
- Exhibit 129: PayPal Holdings Inc. - Key offerings

11.11 Rely Pte Ltd
- Exhibit 130: Rely Pte Ltd - Overview
- Exhibit 131: Rely Pte Ltd - Product / Service
- Exhibit 132: Rely Pte Ltd - Key offerings

11.12 Visa Inc.
- Exhibit 133: Visa Inc. - Overview
- Exhibit 134: Visa Inc. - Product / Service
- Exhibit 135: Visa Inc. - Key offerings

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist
- Exhibit 136: Inclusions checklist
- Exhibit 137: Exclusions checklist

12.3 Currency conversion rates for US$
- Exhibit 138: Currency conversion rates for US$

12.4 Research methodology
- Exhibit 139: Research methodology
- Exhibit 140: Validation techniques employed for market sizing
- Exhibit 141: Information sources

12.5 List of abbreviations
- Exhibit 142: List of abbreviations

Methodology

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

Manufacturers and suppliers
Channel partners
Industry experts
Strategic decision makers

Secondary sources

Industry journals and periodicals
Government data
Financial reports of key industry players
Historical data
Press releases

DATA ANALYSIS

Data Synthesis

Collation of data
Estimation of key figures
Analysis of derived insights

Data Validation

Triangulation with data models
Reference against proprietary databases
Corroboration with industry experts

REPORT WRITING

Qualitative

Market drivers
Market challenges
Market trends
Five forces analysis

Quantitative

Market size and forecast
Market segmentation
Geographical insights
Competitive landscape

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Key Questions Answered

What are the key global market and the regional market share?
What are the revenue-generating key market segments?
What are the key factors driving and challenging this market’s growth?
Who are the key market vendors and their growth strategies?
What are the latest trends influencing the growth of this market?
What are the variables influencing the market growth in the primary regions?
What are the factors influencing the growth of the parent market?

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