Market Overview:
The global buy now pay later platforms market is expected to grow at a CAGR of xx% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for instant gratification and the growing trend of online shopping. Additionally, the rising number of millennials is also contributing to the growth of this market. The global buy now pay later platforms market can be segmented on the basis of type into individual and enterprise segments. On the basis of application, it can be classified into fashion and garment industry, consumer electronics, cosmetic industry, healthcare sector and others. Geographically, it can be divided into North America, Latin America, Europe Asia Pacific and Middle East & Africa (MEA).
Product Definition:
A buy now pay later platform is a type of ecommerce payment system that allows consumers to delay payment for goods or services they have purchased. These platforms often offer interest-free periods, which can allow customers to avoid paying interest on their purchases.
Individual:
The global Buy Now Pay Later (BNPL) platforms market size was valued at USD 3.88 billion in 2017 and is expected to register a CAGR of XX% from 2018 to 2022. The growth can be attributed to the increasing adoption of online shopping among consumers, which has resulted in an increased demand for payment gateways that facilitate quick purchases without carrying cash or credit cards and providing additional benefits such as discounts, loyalty points, etc.
Enterprise:
The Buy Now Pay Later (BNPL) platforms are used by the customers for various transactions such as utility Bill payments, loan Repayments, and insurance premium payments. The BNPL platform is an online payment system which allows consumers to make immediate payment using a credit or debit card without having to carry physical currency. The buy now pay later platforms allow users to make multiple purchases from different vendors in one transaction without having to wait for the completion of each purchase.
Application Insights:
The fashion and garment industry is expected to be the dominant segment over the forecast period. The growing e-commerce industry has resulted in an increased number of online retailers, which in turn is driving demand for buy now pay later platforms. Furthermore, increasing consumer spending on clothing has led to a rise in sales through mobile payments and electronic receipts. This trend is expected to continue over the coming years as more consumers opt for online shopping due to its convenience coupled with price comparison features offered by various apps installed on their smartphones or computers.
The electronics industry also accounted for a significant share owing to high product demand coupled with short product life cycles resulting from rapid technological advancements across all major end-use industries globally (furniture, appliances). The cosmetics application segment was valued at USD 818 million in 2017 owing primarily to high penetration of social media marketing campaigns by prominent global beauty brands such as Estee Lauder, Lancome etc.
Regional Analysis:
North America dominated the global buy now pay later platforms market in 2017. The U.S., in particular, has a high penetration of installment loans owing to the high demand for consumer electronics and fashion products among consumers at large. Moreover, growing preference for online shopping coupled with an increasing number of e-commerce companies is expected to drive demand further over the forecast period.
Asia Pacific is anticipated to be one of the fastest-growing regions over the forecast period owing to changing consumer buying patterns and rising disposable income especially in developing countries such as China and India which are also major manufacturing hubs for various electronic devices including smartphones, laptops, personal computers (PCs) etc.; home entertainment systems; video games; cameras; musical instruments; apparel etc.; cosmetics including skin care creams, lotions & masks among others).
Growth Factors:
- Increasing penetration of internet and smartphones, which is aiding the growth of e-commerce.
- Rising disposable income and changing consumer behavior, with a shift towards convenience buying.
- Proliferation of online payment gateways and increasing trust among consumers on using such platforms for transactions.
- Growing demand for unique experiences while shopping, which is being catered by buy now pay later platforms through their innovative offerings/features.
Scope Of The Report
Report Attributes
Report Details
Report Title
Buy Now Pay Later Platforms Market Research Report
By Type
Individual, Enterprise
By Application
Fashion and Garment Industry, Consumer Electronics, Cosmetic Industry, Healthcare, Others
By Companies
Afterpay, Zippay, VISA, Sezzle, Affirm, Paypal, Splitit, Latitude Financial Services, Klarna, Flexigroup, Openpay
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
166
Number of Tables & Figures
117
Customization Available
Yes, the report can be customized as per your need.
Global Buy Now Pay Later Platforms Market Report Segments:
The global Buy Now Pay Later Platforms market is segmented on the basis of:
Types
Individual, Enterprise
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Fashion and Garment Industry, Consumer Electronics, Cosmetic Industry, Healthcare, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Afterpay
- Zippay
- VISA
- Sezzle
- Affirm
- Paypal
- Splitit
- Latitude Financial Services
- Klarna
- Flexigroup
- Openpay
Highlights of The Buy Now Pay Later Platforms Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Individual
- Enterprise
- By Application:
- Fashion and Garment Industry
- Consumer Electronics
- Cosmetic Industry
- Healthcare
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Buy Now Pay Later Platforms Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Buy Now Pay Later platforms are online platforms that allow customers to make purchases and pay for them later. The platform allows customers to choose a payment plan, which typically involves paying for the purchase over time.
Some of the major companies in the buy now pay later platforms market are Afterpay, Zippay, VISA, Sezzle, Affirm, Paypal, Splitit, Latitude Financial Services, Klarna, Flexigroup, Openpay.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Buy Now Pay Later Platforms Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Buy Now Pay Later Platforms Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Buy Now Pay Later Platforms Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Buy Now Pay Later Platforms Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Buy Now Pay Later Platforms Market Size & Forecast, 2018-2028
4.5.1 Buy Now Pay Later Platforms Market Size and Y-o-Y Growth
4.5.2 Buy Now Pay Later Platforms Market Absolute $ Opportunity
Chapter 5 Global Buy Now Pay Later Platforms Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Buy Now Pay Later Platforms Market Size Forecast by Type
5.2.1 Individual
5.2.2 Enterprise
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Buy Now Pay Later Platforms Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Buy Now Pay Later Platforms Market Size Forecast by Applications
6.2.1 Fashion and Garment Industry
6.2.2 Consumer Electronics
6.2.3 Cosmetic Industry
6.2.4 Healthcare
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Buy Now Pay Later Platforms Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Buy Now Pay Later Platforms Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Buy Now Pay Later Platforms Analysis and Forecast
9.1 Introduction
9.2 North America Buy Now Pay Later Platforms Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Buy Now Pay Later Platforms Market Size Forecast by Type
9.6.1 Individual
9.6.2 Enterprise
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Buy Now Pay Later Platforms Market Size Forecast by Applications
9.10.1 Fashion and Garment Industry
9.10.2 Consumer Electronics
9.10.3 Cosmetic Industry
9.10.4 Healthcare
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Buy Now Pay Later Platforms Analysis and Forecast
10.1 Introduction
10.2 Europe Buy Now Pay Later Platforms Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Buy Now Pay Later Platforms Market Size Forecast by Type
10.6.1 Individual
10.6.2 Enterprise
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Buy Now Pay Later Platforms Market Size Forecast by Applications
10.10.1 Fashion and Garment Industry
10.10.2 Consumer Electronics
10.10.3 Cosmetic Industry
10.10.4 Healthcare
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Buy Now Pay Later Platforms Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Buy Now Pay Later Platforms Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Buy Now Pay Later Platforms Market Size Forecast by Type
11.6.1 Individual
11.6.2 Enterprise
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Buy Now Pay Later Platforms Market Size Forecast by Applications
11.10.1 Fashion and Garment Industry
11.10.2 Consumer Electronics
11.10.3 Cosmetic Industry
11.10.4 Healthcare
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Buy Now Pay Later Platforms Analysis and Forecast
12.1 Introduction
12.2 Latin America Buy Now Pay Later Platforms Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Buy Now Pay Later Platforms Market Size Forecast by Type
12.6.1 Individual
12.6.2 Enterprise
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Buy Now Pay Later Platforms Market Size Forecast by Applications
12.10.1 Fashion and Garment Industry
12.10.2 Consumer Electronics
12.10.3 Cosmetic Industry
12.10.4 Healthcare
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Buy Now Pay Later Platforms Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Buy Now Pay Later Platforms Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Buy Now Pay Later Platforms Market Size Forecast by Type
13.6.1 Individual
13.6.2 Enterprise
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Buy Now Pay Later Platforms Market Size Forecast by Applications
13.10.1 Fashion and Garment Industry
13.10.2 Consumer Electronics
13.10.3 Cosmetic Industry
13.10.4 Healthcare
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Buy Now Pay Later Platforms Market: Competitive Dashboard
14.2 Global Buy Now Pay Later Platforms Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Afterpay
14.3.2 Zippay
14.3.3 VISA
14.3.4 Sezzle
14.3.5 Affirm
14.3.6 Paypal
14.3.7 Splitit
14.3.8 Latitude Financial Services
14.3.9 Klarna
14.3.10 Flexigroup
14.3.11 Openpay
