Adoption of online payment methods by people in developing countries is fueling the growth of the buy now pay later market. The expansion of the global e-commerce industry along with the economical and convenient payment services of the buy now pay later platform are the main reasons behind the growth of the global buy now pay later market. Rising demand for payment delays in online shopping and surge in spending on expensive products are expected to present lucrative growth opportunities for the market during the forecast period. The increasing number of e-commerce platforms, and rising services adoption across millennials in developed countries, have propelled the buy now pay later market growth.
The impact of covid-19 has created an overwhelming demand for services during the forecast period. Above-average growth was primarily due to a strong acceleration of services in the banking and health insurance sectors. Additionally, consumers around the world have increased their preference for online shopping during the pandemic. The pandemic has forced customers to move to online e-commerce platforms and several companies have entered the online marketplace. Several key players have completed their investments during the pandemic by adopting various business strategies, product launches and partnerships.
The Global Buy Now Pay Later Market Size study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Affirm Holdings Inc., Afterpay, Klarna Bank AB, Laybuy Group Holdings Limited, PayPal Holdings Inc., Payl8r (Social Money Ltd.), Perpay, Quadpay, Sezzle, Splitit.
SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2032. This report provides data for growth estimates and forecasts for product type segment – By Channel (Online, Point of Sale), By Enterprise Size (Large Enterprises, Small & Medium Enterprises), By End User (Consumer Electronics, Fashion & Garment, Leisure Entertainment, Retail).
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.