IMARC Group, a leading market research company, has recently released a report titled “Japan Payments Market Report by Mode of Payment (Point of Sale, Online Sale), End Use Industry (Retail, Entertainment, Healthcare, Hospitality, and Others), and Region 2024-2032.” The study provides a detailed analysis of the industry, including the Japan payments market share, size, trends, growth, outlook, and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Japan Payments Market?
The Japan payments market size is projected to exhibit a growth rate (CAGR) of 5.42% during 2024-2032.
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Japan Payments Market
The Japan payments market is primarily driven by the shifting preferences from offline payments to digital payment solutions. The escalating demand for electronic and digital payment methods, as they provide enhanced convenience and speed in conducting financial transactions and reduce the need for cash, is positively impacting the market. Moreover, the widespread use of smartphones and the increasing internet penetration are also contributing to the expansion of the Japan payments market. Additionally, the escalating demand for contactless payments, especially after the breakdown of COVID-19 to maintain hygiene among the masses, is escalating the market growth.
Apart from this, the Japan payments market is further propelled by the rising need for efficient and secure cross-border payment solutions among tourists and travelers. Moreover, the integration of innovative payment technologies such as near-field communication (NFC) and QR code payments with online payment gateways to make payments more secure and fast is positively impacting the market growth. Besides this, the government authorities in Japan are supporting fintech innovations and initiatives to escalate the adoption of cashless transactions. This, in turn, is offering significant growth opportunities to the market. Furthermore, the widespread utilization of biometric authentication methods like fingerprint and facial recognition to enhance payment security is anticipated to propel the growth of the Japan payments market in the coming years.
Japan Payments Market Segmentation:
Breakup By Mode of Payment:
- Point of Sale
- Card Payments (includes Debit Cards, Credit Cards, and Bank Financing Prepaid Cards)
- Digital Wallet (includes Mobile Wallets)
- Cash
- Others
- Online Sale
- Card Payments (includes Debit Cards, Credit Cards, Bank Financing Prepaid Cards)
- Digital Wallet (includes Mobile Wallets)
- Others
Breakup By End Use Industry:
- Retail
- Entertainment
- Healthcare
- Hospitality
- Others
Breakup By Region:
- Kanto Region
- Kansai/Kinki Region
- Central/ Chubu Region
- Kyushu-Okinawa Region
- Tohoku Region
- Chugoku Region
- Hokkaido Region
- Shikoku Region
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Key Highlights of the Report:
- Market Performance (2018-2023)
- Market Outlook (2024-2032)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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