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Global Buy Now Pay Later Market Share, Trends, Forecast: By Channel: Online, PoS (Point of Sale); By Enterprise Size: Large Enterprise, Small and Medium Enterprise (SME); By End Use: BFSI, Consumer Electronics, Fashion and Garments, Healthcare, Retail Goods, Others; Regional Analysis; Competitive Landscape; 2024-2032
Global Buy Now Pay Later Market Outlook
The global buy now pay later market size reached approximately USD 8.01 billion in 2023. The market is estimated to grow at a CAGR of 27.6% in the forecast period of 2024-2032, reaching a value of around USD 69.65 billion by 2032.
Key Trends in the Market
Buy now pay later (BNPL) is a short-term financing solution which offers customers the provision of purchase without paying the entire cost during checkout. It splits the purchase cost into equal instalments which can be paid later through credit or debit card, among other options.
- Increased integration of BNPL financial solutions in shopping apps is one of the crucial buy now pay later market trends. Several online platforms are offering the provision of interest-free BNPL to boost product sales, reduce the drop-off rate during checkout, and enhance the customer shopping experience. Moreover, the growing incorporation of BNPL financing solutions in brick-and-mortar shops or retail stores for a frictionless shopping experience is also a prominent trend in the market.
- BNPL providers are exploring the option of incorporating digital currencies into their platforms to cater to users who increasingly rely on cryptocurrencies for digital payments, further providing impetus to the buy now pay later market growth.
- Several market players are adopting strategic measures such as acquisition and partnerships to make their financial system more accessible for small merchants and offer BNPL service at checkout, further extending their market outreach.
Market Analysis
Based on channel, the market is bifurcated into online and PoS (point of sale). On the basis of enterprise size, the market is divided into large enterprise and small and medium enterprise (SME).
The buy now pay later market segmentation, based on end use, includes BFSI, consumer electronics, fashion and garments, healthcare, retail goods, media and entertainment, and automotive, among others. The major regional markets of buy now pay later are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the buy now pay later market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Affirm Holdings Inc.
- Klarna Inc.
- Splitit Payments, Ltd.
- Sezzle Inc.
- Perpay Inc.
- Zip Co, Ltd.
- PayPal Holdings, Inc.
- AfterPay Limited
- HSBC Group
- Payl8r
- Billie GmbH
- Others
Market Share by Enterprise Size
Large enterprises occupy a significant portion of the buy now pay later market share due to the increased adoption of BNPL solutions by these enterprises to enhance customer experience by offering an affordable payment method. Many large enterprises also integrate BNPL facilities into their e-commerce platforms to offer a cost-effective method of payment for high-value products.
Meanwhile, small and medium enterprises (SMEs) are expected to witness considerable growth in the forecast period owing to growing partnerships between SME and BNPL providers to strengthen their market position.
Market Share by Region
As per the buy now pay later market analysis, North America accounts for a substantial share of the global market owing to the growing presence of market players who are readily adopting advanced solutions to stay ahead of their competitors. Increased research and development into financing solutions, coupled with the rise of startups, in the region also offers lucrative growth opportunities for the market expansion.
Additionally, the Asia Pacific is expected to foresee healthy growth in the future due to the flourishing e-commerce sector in the region.
Competitive Landscape
Affirm Holdings Inc. is a financial technology corporation, established in 2012 and headquartered in California, the United States. The company provides its services in the auto, electronics, home and furniture, and fitness and gear sectors, among others.
Klarna Inc., incorporated in 2005, is a provider of financial services, with its headquarters in Stockholm, Sweden. The company aims to promote sustainability through practices such as internal carbon tax and investments in forest reforestation.
Splitit Payments, Ltd., established in 2012 and headquartered in Georgia , the United States, is a fintech company. It offers card-based instalments to its clients in the automation, education, and home and furniture sectors, among others.
Other buy now pay later market players include Sezzle Inc., Perpay Inc., Zip Co, Ltd., PayPal Holdings, Inc., AfterPay Limited, HSBC Group, Payl8r, and Billie GmbH, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Channel |
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| Breakup by Enterprise Size |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Buy Now Pay Later Market Analysis
8.1 Key Industry Highlights
8.2 Global Buy Now Pay Later Historical Market (2018-2023)
8.3 Global Buy Now Pay Later Market Forecast (2024-2032)
8.4 Global Buy Now Pay Later Market by Channel
8.4.1 Online
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 PoS (Point of Sale)
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Buy Now Pay Later Market by Enterprise Size
8.5.1 Large Enterprise
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Small and Medium Enterprise (SME)
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global Buy Now Pay Later Market by End Use
8.6.1 BFSI
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Consumer Electronics
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Fashion and Garments
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Healthcare
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Retail Goods
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Media and Entertainment
8.6.6.1 Historical Trend (2018-2023)
8.6.6.2 Forecast Trend (2024-2032)
8.6.7 Automotive
8.6.7.1 Historical Trend (2018-2023)
8.6.7.2 Forecast Trend (2024-2032)
8.6.8 Others
8.7 Global Buy Now Pay Later Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America Buy Now Pay Later Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Buy Now Pay Later Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Buy Now Pay Later Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Buy Now Pay Later Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Buy Now Pay Later Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Affirm Holdings Inc.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 Klarna Inc.
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Splitit Payments, Ltd.
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 Sezzle Inc.
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Perpay Inc.
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 Zip Co, Ltd.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 PayPal Holdings, Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 AfterPay Limited
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 HSBC Group
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Payl8r
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Billie GmbH
15.2.11.1 Company Overview
15.2.11.2 Product Portfolio
15.2.11.3 Demographic Reach and Achievements
15.2.11.4 Certifications
15.2.12 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Buy Now Pay Later Market: Key Industry Highlights, 2018 and 2032
2. Global Buy Now Pay Later Historical Market: Breakup by Channel (USD Billion), 2018-2023
3. Global Buy Now Pay Later Market Forecast: Breakup by Channel (USD Billion), 2024-2032
4. Global Buy Now Pay Later Historical Market: Breakup by Enterprise Size (USD Billion), 2018-2023
5. Global Buy Now Pay Later Market Forecast: Breakup by Enterprise Size (USD Billion), 2024-2032
6. Global Buy Now Pay Later Historical Market: Breakup by End-Use (USD Billion), 2018-2023
7. Global Buy Now Pay Later Market Forecast: Breakup by End-Use (USD Billion), 2024-2032
8. Global Buy Now Pay Later Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global Buy Now Pay Later Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America Buy Now Pay Later Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America Buy Now Pay Later Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe Buy Now Pay Later Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe Buy Now Pay Later Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific Buy Now Pay Later Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific Buy Now Pay Later Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America Buy Now Pay Later Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America Buy Now Pay Later Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa Buy Now Pay Later Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa Buy Now Pay Later Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global Buy Now Pay Later Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 8.01 billion.
The market is projected to grow at a CAGR of 27.6% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032, reaching a value of around USD 69.65 billion by 2032.
The major market drivers are the growing demand for easy and hassle-free payment, the robust growth of the e-commerce sector, and the increased financial flexibility offered by BNPL services.
The key trends of the market include increased integration of buy now pay later financial solutions in shopping apps, growing incorporation of BNPL financing solutions in brick-and-mortar shops or retail stores, and the integration of digital currencies into BNPL platforms.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Various channels are online and PoS (point of sale).
The key players in the market are Affirm Holdings Inc., Klarna Inc., Splitit Payments, Ltd., Sezzle Inc., Perpay Inc., Zip Co, Ltd., PayPal Holdings, Inc., AfterPay Limited, HSBC Group, Payl8r, and Billie GmbH, among others.
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