A recent report published by Infinium
Global Research on the peer-to-peer (P2P) market provides in-depth analysis of
segments and sub-segments in the global as well as regional peer-to-peer (P2P)
market. The study also highlights the impact of drivers, restraints, and macro
indicators on the global and regional peer-to-peer (P2P) market over the short
term as well as long term. The report is a comprehensive presentation of
trends, forecast and dollar values of the global peer-to-peer (P2P) market.
According to the report, the global peer-to-peer (P2P) market is projected to
grow at a CAGR of 14.82% over the forecast period of 2021-2027. The peer-to-peer (P2P) market growing from nearly USD 2 billion in 2021 to about USD 4.5 billion in 2027
Peer-to-peer payment systems are
also known as P2P payments or money transfer apps, like Venmo, PayPal, and Cash
App allow their users to send one another money from their mobile devices
through a linked bank account or card. Through this, we can also make splitting
bills with friends and family for dinner or house rent as such. They are
trending amongst people of all ages as more and more of these types of
platforms continue to emerge in the upcoming years. P2P services are secure
platforms, but they’re also risks involved while sending or receiving money
online. Payments are categorized on the basis of transfer that is to an account
within the bank or outside the bank. If the transfer is to an account within
the bank it is called an internal transfer. A transfer to an account outside
the bank is called a domestic transfer.
The COVID-19 outbreak had created medical emergencies across the globe.
It created the biggest threats to the global economy and financial markets.
Major sectors of the country’s economies, with manufacturing, auto, retail,
aviation, and hospitality were bearing the brunt of the lockdowns imposed by
the government in order to decrease the spread of disease. However, there were
a few areas where we’re seeing an uptick in digital payments by way of increased
adoption during the lockdown such as online grocery stores, online pharmacies,
OTT players, EdTechs, online gaming, and recharges, and utility/bill payments. The
demand for easier ways to shop on mobile, receive stimulus checks, and make donations to social causes, has significantly boosted the core segments of
digital payments, digital wallets, and peer-to-peer (P2P) payments across the
The fintech player combines the
capabilities of the financial institutes and technology domain and develop an
advanced customer-centric product to fulfill the requirement of the customers.
creating numerous opportunities for the development of the mobile peer-to-peer (P2P) market across the globe. The Rising demand for non-cash payment and
the rapidly increasing number of smartphones & computer users in the highly
developed nation are the factors driving the market growth. Furthermore,
privacy and data security concerns and lack of awareness about P2P payment are
hindering the market growth
Among the regions, Asia Pacific
accounted for the largest share in the global peer-to-peer (P2P) market. This
region has a large number of smartphone users and internet users in emerging
economic nations such as China and India are boosting the market growth. 50% of
smartphone users across the globe at present in the region as per the survey.
The government in this region is initiating the promotion of digital payments and
also creating awareness of the adoption of the mobile peer-to-peer money
transfer market. However, the North American region is anticipated to grow at
the highest rate in the global peer-to-peer (P2P) market over the forecast
period. The increasing use of payments in the industrial sector as well as
commercial sector is boosting the global P2P payment market in this region
The report on the global peer-to-peer
(P2P) market covers segments such as type, and application. On the basis of
type, the sub-markets include NFC/smartcard, SMS, and mobile apps. On the basis
of application, the sub-markets include retail payments, travels &
hospitality payments, transportation & logistics payments, energy &
utility payments, and others.
The report provides profiles of
the companies in the market such as PayPal Pte. Ltd, Tencent, Square, Inc,
Circle Internet Financial Limited, clearXchange, SnapCash, Dwolla, Inc,
TransferWise Ltd, CurrencyFair LTD, and One97 Communications Ltd.
The report provides deep insights
into the demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings an insight into the investment areas that existing
or new market players can consider. The report provides insights into the
market using analytical tools such as Porter's five forces analysis and DRO
analysis of peer-to-peer (P2P) market. Moreover, the study highlights current
market trends and provides forecast from 2021-2027. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.