Global Buy Now Pay Later Market Overview
According to SPER Market Research, the Global Buy Now Pay Later Market is estimated to reach USD 80.17 billion by 2033 with a CAGR of 26.33%.
The Buy Now Pay Later (BNPL) payment mechanism enables customers to make purchases and postpone paying for them until a later time. Customers can divide their payments into smaller amounts over a set length of time, usually with no interest or little price. Payment service companies provide BNPL services, and online and brick-and-mortar store checkout procedures incorporate these services. Consumers may manage their cash flow and make purchases without being immediately burdened by debt thanks to the convenience and flexibility of this payment option. Due to its ease of use, accessibility, and attractiveness to younger consumers, BNPL has experienced a recent spike in popularity.
Exploring the Growth Drivers of the Global Buy Now Pay Later Industry.
A number of crucial variables are fueling the enormous rise of the global buy now pay later (BNPL) market. Customers are looking for flexible payment solutions that suit their financial preferences more and more. For people who prefer affordable and interest-free payment plans, BNPL offers an alternative to standard credit cards and permits users to make purchases without making an upfront payment. The use of BNPL services has been accelerated by the rapid growth of e-commerce. Online marketplaces and merchants incorporate BNPL technologies into their checkout procedures to streamline client transactions and boost conversion rates. The demand for BNPL is being driven by the younger population, particularly millennials and Gen Z. They place a premium on financial flexibility, steer clear of credit card debt, and favor simple and convenient payment methods. Their preferences are matched by BNPL, which provides a more approachable and alluring alternative to traditional lending.
What challenges does the Global Buy Now Pay Later Market face?
The Buy Now Pay Later (BNPL) industry is subject to a number of restrictions, including regulatory scrutiny. The regulatory environment for BNPL services is changing. Consumer protection, transparency, ethical lending methods, and fair customer treatment are among the regulatory priorities that are receiving more attention. For BNPL providers, compliance with current regulations and anticipated regulatory framework changes provide difficulties. Additionally, due to the fact that clients are permitted to make purchases without paying right away, the BNPL business comes with inherent credit risks. To maintain a sustainable business model, credit risk management and consumer creditworthiness evaluation are essential. Long-term profitability and viability may be impacted by high default rates.
In what ways has the COVID-19 pandemic affected Global Buy Now Pay Later Market?
The global buy now pay later (BNPL) market has been significantly impacted by the COVID-19 pandemic. On the one hand, because consumers were looking for flexible payment choices during the difficult economic times, it drove the growth of BNPL services. The introduction of BNPL was also influenced by the move toward online shopping and e-commerce during lockdowns. However, the pandemic also presented difficulties for the BNPL market. Credit risk and default rates for BNPL suppliers increased as a result of rising financial volatility and employment losses. As authorities concentrated on consumer protection and ethical lending practices in response to the economic difficulties caused by the epidemic, regulatory scrutiny also increased. Overall, the pandemic brought about opportunities while also highlighting the BNPL industry's need for adaptability and resilience.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Channel, By Enterprise Size, By End-User
|
| Regions covered | Asia-Pacific, Europe, Middle East and Africa, North America, Latin America
|
| Companies Covered | Affirm Holdings Inc., Afterpay, Klarna Bank AB, Laybuy Group Holdings Limited, PayPal Holdings Inc., Payl8r (Social Money Ltd.), Perpay, Quadpay, Sezzle, Splitit, Others
|
Key Target Audience
- Consumers
- E-Commerce Retailers
- Financial Institutions
- Government Agencies and Regulatory Bodies
- Industry Associations and Advocacy Groups
- Investors and Venture Capitalists
- Market Research Firms and Cosultants
- Payment Service Providers
Global Buy Now Pay Later Market Segmentation:
1. By Channel:
- Global Buy Now Pay Later Market Value Share and Forecast, By Channel, 2023-2033
- Online
- Point of Sale
2. By Enterprise Size:
- Global Buy Now Pay Later Market Value Share and Forecast, By Enterprise Size, 2023-2033
- Large Enterprises
- Small & Medium Enterprises
3. By End User:
- Global Buy Now Pay Later Market Value Share and Forecast, By End User, 2023-2033
- Consumer Electronics
- Fashion & Garment
- Leisure & Entertainment
- Retail
4. By Region:
- Asia-Pacific
- Europe
- Middle East & Africa
- North America
- Latin America
Key Topics Covered in the Report
- Global Buy Now Pay Later Market Size (FY’2023-FY’2033)
- Overview of Global Buy Now Pay Later Market
- Segmentation of Global Buy Now Pay Later Market By Channel (Online, Point of Sale)
- Segmentation of Global Buy Now Pay Later Market By Enterprise Size (Large Enterprises, Small & Medium Enterprises)
- Segmentation of Global Buy Now Pay Later Market By End-User (Consumer Electronics, Fashion & Garment, Leisure & Entertainment, Retail)
- Statistical Snap of Global Buy Now Pay Later Market
- Growth Analysis of Global Buy Now Pay Later Market
- Problems and Challenges in Global Buy Now Pay Later Market
- Competitive Landscape in the Global Buy Now Pay Later Market
- Impact of COVID-19 and Demonetization on Global Buy Now Pay Later Market
- Details on Recent Investment in Global Buy Now Pay Later Market
- Competitive Analysis of Global Buy Now Pay Later Market
- Key Players in the Global Buy Now Pay Later Market
- SWOT Analysis of Global Buy Now Pay Later Market
- Global Buy Now Pay Later Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Global Buy Now Pay Later Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Global Buy Now Pay Later Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Global Buy Now Pay Later Market
7. Global Buy Now Pay Later Market, By Channel (USD Million)
7.1. Global Buy Now Pay Later Market Value Share and Forecast, By Channel, 2023-2033
7.2. Online
7.3. Point of Sale
8. Global Buy Now Pay Later Market, By Enterprise Size (USD Million)
8.1. Global Buy Now Pay Later Market Value Share and Forecast, By Enterprise Size, 2023-2033
8.2. Large Enterprises
8.3. Small & Medium Enterprises
9. Global Buy Now Pay Later Market, By End User (USD Million)
9.1. Global Buy Now Pay Later Market Value Share and Forecast, By End User, 2023-2033
9.2. Consumer Electronics
9.3. Fashion & Garment
9.4. Leisure & Entertainment
9.5. Retail
10. Global Buy Now Pay Later Market Forecast, 2019-2033 (USD Million)
10.1. Global Buy Now Pay Later Market Size and Market Share
11. Global Buy Now Pay Later Market, By Channel, 2019-2033 (USD Million)
11.1. Global Buy Now Pay Later Market Size and Market Share By Channel (2019-2026)
11.2. Global Buy Now Pay Later Market Size and Market Share By Channel (2027-2033)
12. Global Buy Now Pay Later Market, By Enterprise Size, 2019-2033 (USD Million)
12.1. Global Buy Now Pay Later Market Size and Market Share By Enterprise Size (2019-2026)
12.2. Global Buy Now Pay Later Market Size and Market Share By Enterprise Size (2027-2033)
13. Global Buy Now Pay Later Market, By End User, 2019-2033 (USD Million)
13.1. Global Buy Now Pay Later Market Size and Market Share By End User (2019-2026)
13.2. Global Buy Now Pay Later Market Size and Market Share By End User (2027-2033)
14. Global Buy Now Pay Later Market, By Region, 2019-2033 (USD Million)
14.1. Global Buy Now Pay Later Market Size and Market Share By Region (2019-2026)
14.2. Global Buy Now Pay Later Market Size and Market Share By Region (2027-2033)
14.3. Asia-Pacific
14.3.1. Australia
14.3.2. China
14.3.3. India
14.3.4. Japan
14.3.5. South Korea
14.3.6. Rest of Asia-Pacific
14.4. Europe
14.4.1. France
14.4.2. Germany
14.4.3. Italy
14.4.4. Spain
14.4.5. United Kingdom
14.4.6. Rest of Europe
14.5. Middle East and Africa
14.5.1. Kingdom of Saudi Arabia
14.5.2. United Arab Emirates
14.5.3. Rest of Middle East & Africa
14.6. North America
14.6.1. Canada
14.6.2. Mexico
14.6.3. United States
14.7. Latin America
14.7.1. Argentina
14.7.2. Brazil
14.7.3. Rest of Latin America
15. Company Profile
15.1. Affirm Holdings Inc.
15.1.1. Company details
15.1.2. Financial outlook
15.1.3. Product summary
15.1.4. Recent developments
15.2. Afterpay
15.2.1. Company details
15.2.2. Financial outlook
15.2.3. Product summary
15.2.4. Recent developments
15.3. Klarna Bank AB
15.3.1. Company details
15.3.2. Financial outlook
15.3.3. Product summary
15.3.4. Recent developments
15.4. Laybuy Group Holdings Limited
15.4.1. Company details
15.4.2. Financial outlook
15.4.3. Product summary
15.4.4. Recent developments
15.5. PayPal Holdings Inc.
15.5.1. Company details
15.5.2. Financial outlook
15.5.3. Product summary
15.5.4. Recent developments
15.6. Payl8r (Social Money Ltd.)
15.6.1. Company details
15.6.2. Financial outlook
15.6.3. Product summary
15.6.4. Recent developments
15.7. Perpay
15.7.1. Company details
15.7.2. Financial outlook
15.7.3. Product summary
15.7.4. Recent developments
15.8. Quadpay
15.8.1. Company details
15.8.2. Financial outlook
15.8.3. Product summary
15.8.4. Recent developments
15.9. Sezzle
15.9.1. Company details
15.9.2. Financial outlook
15.9.3. Product summary
15.9.4. Recent developments
15.10. Splitit
15.10.1. Company details
15.10.2. Financial outlook
15.10.3. Product summary
15.10.4. Recent developments
15.11. Others
16. List of Abbreviations
17. Reference Links
18. Conclusion
19. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
