What Has Been the Progress and Growth of the 3D Secure Payment Market in Recent Years?
The 3d secure payment market has seen considerable growth due to a variety of factors.
• Over the past few years, the 3D secure payment market has experienced rapid expansion. It's anticipated that the market size will increase from $1.42 billion in 2024 to $1.61 billion in 2025, with a compound annual growth rate (CAGR) of 13.1%. Factors such as heightened e-commerce transactions, growing concerns over cybersecurity, upswing in mobile commerce, an uptick in payment card use, and a shift toward digital payments have contributed to the growth during the historical period.
What Can Be Expected from the 3D Secure Payment Market Size In The Coming Years?
The 3D Secure Payment market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the 3D secure payment market is anticipated to experience rapid expansion. Its size is likely to increase to $2.74 billion by 2029, illustrating a compound annual growth rate (CAGR) of 14.2%.
The surge during the forecasted period can be ascribed to the escalation in mobile wallet adoption, the rise in cross-border transactions, the acceptance of this technology by new industry sectors, burgeoning data security requirements, and prevailing cybersecurity risks. Key trends forecasted for this period entail real-time transaction surveillance, adherence to strong customer authentication (SCA), the utilization of tokenization for secure payments, authentication across multiple channels, and innovative authentication methods that extend beyond the use of passwords.
What Are the Critical Driver Fuelling The 3D Secure Payment Market's Growth?
The rise in consumer inclination towards online shopping is predicted to fuel the expansion of the 3D secure payment market. Online shopping, a form of electronic commerce where the buyer uses a web browser to search for goods and services before buying, benefits from factors like greater access to product information, the ability to compare items and their prices, an extensive selection of products, convenience, and quick discovery of the desired products. All these factors aid the consumer's preference for online shopping, where 3D Secure payment acts as an extra level of cardholder identification, thereby ensuring secure online transactions. For instance, Tidio Ltd., a Polish payment platform for small to medium-sized businesses, reported in November 2022 that digital purchasers in the US are projected to rise to 285 million by 2025, up from 268 million in 2022. Consequently, consumer attraction towards online shopping is bolstering the expansion of the 3D secure payment market.
How Is The 3D Secure Payment Market segmented?
The 3D secure payment market covered in this report is segmented –
1) By Component: Merchant Plug-In, Access Control Server, Other Components
2) By Type: On-Premise, Cloud-Based
3) By Application: Banks, Merchants And Payment Gateway
Subsegments:
1) By On-Premise: Integrated Solutions, Standalone Solutions
2) By Cloud-Based: SaaS (Software As A Service) Solutions, Hosted Solutions
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What New Trends Are Influencing The 3D Secure Payment Market?
The trend of product innovation is significantly influencing the 3D Secure Payment market, with leading market companies focusing their energies on developing pioneering technology and products such as 3-D Secure 2 (3DS2), frictionless authentication, and biometric payments to reinforce their market standing. Take for example, in August 2022, Zuora Inc., an enterprise software firm based in the US, implemented 3D Secure 2.0 (3DS2), a highly endorsed solution for robust customer authentication (SCA) pursuant to PSD2. The Stripe v2 gateway, supported by the integrated iFrame of Payment Pages 2.0, facilitates 3DS2. 3-D Secure 2.0 assists mobile apps and connected devices, and 3-D Secure 2.0 also contributes to the enhancement and protection of digital payment security and transactions.
Who Are the Key Players In The 3D Secure Payment Market?
Major companies operating in the 3D secure payment market include:
• GPayments Pty Ltd.
• Broadcom Inc.
• Mastercard Inc.
• Visa Inc.
• Bluefin Payment Systems LLC
• American Express Company
• RSA Security LLC
• DECTA Limited
• Modirum Oy
• Marqeta
• Entersekt
• SIA S.p.A.
• Worldline SA
• Elavon Inc.
• Adyen
• AsiaPay
• GMO Payment Gateway
• Joseph Cyril Bamford Excavators Ltd.
• Fiserv Inc.
• ACI Worldwide Inc.
• PayPal Holdings Inc.
• Stripe Inc.
• CardinalCommerce Corporation
• CyberSource Corporation
• Forter Inc.
• Global Payments Inc.
• Ingenico Group
• PayU
• Rapyd Financial Network Ltd.
• Signifyd Inc.
• Skrill Limited
• Worldpay Inc.
• Zoho Corporation
What Is The Most Dominant Region In The 3D Secure Payment Market?
North America was the largest region in the 3D secure payment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the 3D secure payment market report during the forecast period. The regions covered in the 3d secure payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
