Buy Now Pay Later Market to Grow at 22.2% CAGR by 2030
The popularity of online shopping among consumers is driving up demand for BNPL services and is expected to propel the growth of the buy now pay later market during the forecast period.
The Global Buy Now Pay Later Market is valued at USD 112.17 billion in 2022, and is expected to reach USD 725.36 billion by 2030, with a CAGR of 22.2% from 2023 to 2030, according to new research by Next Move Strategy Consulting.
Buy now pay later has been witnessing rapid demand owing to the rise of e-commerce platforms with online payment methods. Moreover, the use of artificial intelligence (AI) technology supports the expansion of the BNPL market.
On the contrary, the problem with excessive late fees is expected to restrain the growth of the buy now pay later market. However, the rising popularity of online payment presents an opportunity for the market.
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According to the report, leading players in the buy now pay later market include Affirm Holdings, Inc., Atome, Block, Inc., Klarna Bank AB (PULP), Latitude, Openpay, PayPal Holdings, Inc., Sezzle, Scalapay, Zip Co. Ltd. (Zip), and others.
Key Insights from the Buy Now Pay Later Market Report:
The information related to key drivers, restraints, and opportunities and their impact on the buy now pay later market is provided in the report.
The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.
The market share of players in the global buy now pay later market is provided in the report along with their competitive analysis.