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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:
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.
Download the Free Report Sample to Unlock the Buy Now Pay Later Market Size for the Forecast Period and Other Important Statistics
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
Key Buy Now Pay Later Market Trend
Key Buy Now Pay Later Market Challenge
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.
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.
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.
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.
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.
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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.
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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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