Payment Security Market in India 2021

Report Id

168859

Publisher Name

Published Date

3/1/2021

No of Pages

47

Market Scenario

Payment security is a safety program that uses multiple layers of analytics, technology, and security approaches to protect digital payment and reduce fraudulent transactions. These security solutions are provided through Point-of-sale (PoS), mobile-based, and web-based platforms. Payment security solutions offered in India include encryption, point-to-point tokenization, and EMV (Europay, MasterCard, and Visa). Payment security solutions in India are mostly being adopted by the sectors of banking, financial services, and insurance (BFSI), education, retail, hospitality, and telecom. Some of the domestic organizations proffering payment security solutions in the country are Cisco Systems India Pvt. Ltd., Intel Technology India Pvt. Ltd., and Trend Micro India Pvt. Ltd. Market insights: The payment security market in India was valued at INR 130.50 Bn in 2020. It is expected to expand at a compound annual growth rate (CAGR) of ~17.79% between 2021 and 2025, to reach a value of INR 289.90 Bn by 2025. The steady growth in the market can be attributed to the rising adoption of cashless payment methods and the increasing fraudulent activities associated with online transactions. It also includes the growing incidence of cyber thefts and data breaches. The increase in the government’s participation in undertaking initiatives to promote cashless and digital economy has also encouraged growth in the market. Some of the policies implemented by the government include the launch of the Payments Infrastructure Development Fund and the introduction of instant payment facilities, such as UPI and BHIM. However, the lack of investments from IT companies on security solutions and the high cost of the adoption of payment security solutions hinder the growth of the payment security market. COVID-19 impact analysis: The outbreak of the pandemic and the implementation of social-distancing norms have had a substantial impact on the payment security market in India. With the growing fear surrounding the pandemic, there has been a behavioral shift from cash-based transactions to digital payments across all categories of consumers. During this period, digital payment and contactless modes of transactions have gained popularity among the buyers. As a result, the risk of cybercrimes and data threats has also soared. With increasing cyber risks, the adoption of payment security services and solutions is expected to witness growth in multiples in the coming years. Companies covered: • Cisco Systems India Pvt. Ltd. • Intel Technology India Pvt. Ltd. • NortonLifeLock India Private Limited • Trend Micro India Pvt. Ltd. • Broadcom Inc. • One Span • Thales Group • Transaction Network Services

Table of Contents

Chapter 1: Executive summary Chapter 2: Socio-economic indicators Chapter 3: Introduction 3.1. Market definition and structure Chapter 4: Market overview 4.1. Payment security market in India – An overview 4.1.1. Market size and growth forecast based on value (2018 – 2025e) Chapter 5: Market segmentation 5.1. Payment security – Market segmentation 5.1.1. Payment security – Market share based on end user (2020 and 2025e) 5.1.2. BFSI – Market size and growth forecast (2018 – 2025e) 5.1.3. Retail and e-commerce – Market size and growth forecast (2018 – 2025e) 5.1.4. Hospitality and transportation – Market size and growth forecast (2018 – 2025e) 5.1.5. IT and telecom – Market size and growth forecast (2018 – 2025e) 5.1.6. Other sectors – Market size and growth forecast (2018 – 2025e) Chapter 6: COVID-19 impact analysis 6.1. COVID-19 impact analysis Chapter 7: Market influencers 7.1. Market drivers 7.2. Market challenges Chapter 8: Government initiatives 8.1. Government initiatives Chapter 9: Market trends 9.1. Market trends Chapter 10: Competitive landscape 10.1. Market participants 10.1.1. Cisco Systems India Pvt. Ltd. ? Company information ? Business description ? Products/services ? Key people Note: Similar information has been provided for all companies 10.1.2. Intel Technology India Pvt. Ltd. 10.1.3. NortonLifeLock India Private Limited 10.1.4. Trend Micro India Pvt. Ltd. 10.1.5. Broadcom Inc. 10.1.6. One Span 10.1.7. Thales Group 10.1.8. Transaction Network Services Chapter 11: Recent developments 11.1. Recent developments Chapter 12: Appendix 12.1. Research methodology 12.2. About Netscribes 12.3. Disclaimer

Methodology

This research report involves complete picture of the market with the help of in-depth secondary and primary research. This research report studies several aspects of the market and analyze vital industry influencers. Extensive secondary research has been conducted using paid as well as open access data sources in order to gather information on the market and parent market. These key findings are then analyzed and validated with the help of in-house data models and primary discussions with key industry participants and experts across the value chain

research-methodology

Research Tools and Models

  • Top-Down Approach and Bottom-Up Approach
  • QFD Modeling for Market Size and Share Calculation
  • Regression, Variable and Impact Analysis
  • Penetration Modeling

Qualitative Research

  • It comprises briefing about market dynamics and business opportunities and strategies.
  • Finally, all the research findings are validated through interviews with in-house industry experts, freelance consultants and key opinion leaders etc.

Quantitative Research

It involves various mathematical tools, models, projection, and sampling techniques. It involves following steps:

  • Identification of market variables and market size derivation
  • Assessment of future prospects, opportunities and market penetration rates by analyzing product commercialization, regional trends etc.
  • Evaluation historical market trends and derivation of present and future year-on-year growth trends

Fill below details to get free sample !!

Contact Us
Call Now