Security News > 2022 > March > Payment security market to reach $54.1 billion by 2028

The global payment security market is expected to reach $54.1 billion by 2028, growing at a CAGR of 16.5% during the forecast period of 2021-2028, according to ResearchAndMarkets.

The rising demand for advanced payment security solutions for digital e-commerce and the increasing use of payment applications across different industry verticals offers significant opportunities for the growth of the digital payment market.

Based on offering, the solution segment commanded the largest share of the global payment security market in 2021 and is expected to grow at the fastest CAGR during the forecast period.

The rising demand for advanced payment security solutions for digital e-commerce and the increasing use of payment applications across different industry verticals is driving the growth of this segment.

Digital wallet segment commands largest share of the payment security market.

Based on payment mode, the digital wallet segment commanded the largest share of the overall payment security market in 2021 and is expected to grow at the highest CAGR during the forecast period.

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