MarkNtel Advisors has recently conducted an extensive market intelligence analysis on the Global Buy Now Pay Later Market. The newly released report showcases an engaging format enriched with visually compelling tables, graphs, charts, and figures. These seamlessly integrated visual aids are designed to bolster the accuracy and clarity of the information presented, offering readers a thorough grasp of the topic at hand.
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Market Size and Growth
The Global Buy Now Pay Later (BNPL) Market size was valued at around USD 7.2 billion in 2022 and is projected to grow at a CAGR of about 18.5% during the forecast period, i.e., 2024-30. The rising demand for consumer discretionary products such as electronics and furniture among millennials, along with the growing inclination of consumers towards flexible payment alternatives, has elevated the demand for BNPL services.
Key Factors Influencing Market Growth
Growing Adoption of BNPL for Quick & Easy Transactions
The increasing preference among the younger population for digitalized services, owing to benefits such as attractive product offerings, quick and easy account settlements, and transactions, has significantly boosted the adoption of BNPL services worldwide. Additionally, the launch of gaming and smart devices has attracted millions of youngsters to opt for BNPL services, facilitating easy access to electronic wallets for quick payments and easy repayments.
Geographical Insights
North America
North America has been witnessing notable growth in the BNPL market since 2018. The higher presence of Fintech service providers with competitive portfolio offerings has contributed significantly to driving the demand for BNPL services across North America.
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Competitor Breakdown: Top Buy Now Pay Later Companies
In the rapidly evolving Global Buy Now Pay Later Market, understanding competitor strategies is crucial. By analyzing competitors' strengths and weaknesses, companies can make informed decisions and remain competitive. Key players in the market include:
- Klarna
- Afterpay
- Affirm Inc.
- Laybuy Group Holdings Limited
- PayPal Holding Inc.
- Kredivo
- Zip Co. Ltd.
- Splitit
- Sezzle
- Amazon
- Flipkart
- Scalapay S.R.L.
- Perpay Inc.
- Paytm
- PayI8r
- Others
Segmentation Analysis: Buy Now Pay Later Market
By Sales Channel
- Online
- Point of Sales
By Application
- Healthcare
- Clothing & Accessories
- Media & Entertainment
- Travel & Leisure
- Consumer Electronics
- Others
By End User Age Group
- 18-34 years
- 35-54 years
- Above 54 years
Note: Should you require specific information beyond the current scope of the report, we are prepared to furnish it as part of our customization services.
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Why This Report:
- Extensive Industry Coverage: Our reports cover a wide array of industries, providing in-depth insights and analysis across 15 diverse industrial verticals. This comprehensive coverage ensures that clients have access to a broad spectrum of relevant information.
- Global Reach: With a presence in over 80 countries, our reports offer insights from a global perspective, enabling clients to make informed decisions in both established and emerging markets.
- Quality Data and Information: Our team of experienced market research professionals excels in capturing valuable and detailed market information to provide clients with accurate and reliable data for informed decision-making.
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- In-depth Regional and Country-based Trends: We provide insights into regional and country-based trends within industries, allowing clients to gain a clear understanding of the market landscape in specific geographic areas.
About Us
MarkNtel Advisors is a leading consulting, data analytics, and market research company that provides an extensive range of strategic reports on diverse industry verticals. Being a qualitative & quantitative research company, we strive to deliver high-quality data to a substantial and varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
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