Buy Now Pay Later Market Size, Share & Trends Report

Buy Now Pay Later Market Size, Share & Trends Analysis Report By Channel (Online, POS), By End-use (Retail, Automotive), By Enterprise Size, By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: GVR-4-68039-499-7
  • Number of Pages: 140
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2021
  • Industry: Technology

Market Segmentation

  • Buy Now Pay Later Channel Outlook (Revenue, USD Billion, 2017 - 2030)
    • Online
    • POS
  • Buy Now Pay Later Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)
    • Large Enterprises
    • Small & Medium Enterprises
  • Buy Now Pay Later End-use Outlook (Revenue, USD Billion, 2017 - 2030)
    • Retail
      • Consumer Electronics
      • Fashion & Garment
      • Others
    • Healthcare
    • Leisure & Entertainment
    • Automotive
    • Others
  • Buy Now Pay Later Regional Outlook (Revenue, USD Billion, 2017 - 2030)
    • North America
      • North America Buy Now Pay Later Market, by Channel
        • Online
        • POS
      • North America Buy Now Pay Later Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • North America Buy Now Pay Later Market, by End-use
        • Retail
          • Consumer Electronics
          • Fashion & Garment
          • Others
        • Healthcare
        • Leisure & Entertainment
        • Automotive
        • Others
      • U.S.
        • U.S. Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • U.S. Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • U.S. Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • Canada
        • Canada Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • Canada Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Canada Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
    • Europe
      • Europe Buy Now Pay Later Market, by Channel
        • Online
        • POS
      • Europe Buy Now Pay Later Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • Europe Buy Now Pay Later Market, by End-use
        • Retail
          • Consumer Electronics
          • Fashion & Garment
          • Others
        • Healthcare
        • Leisure & Entertainment
        • Automotive
        • Others
      • Germany
        • Germany Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • Germany Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Germany Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • UK
        • UK Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • UK Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • UK Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • Sweden
        • Sweden Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • Sweden Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Sweden Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
    • Asia Pacific
      • Asia Pacific Buy Now Pay Later Market, by Channel
        • Online
        • POS
      • Asia Pacific Buy Now Pay Later Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • Asia Pacific Buy Now Pay Later Market, by End-use
        • Retail
          • Consumer Electronics
          • Fashion & Garment
          • Others
        • Healthcare
        • Leisure & Entertainment
        • Automotive
        • Others
      • China
        • China Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • China Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • China Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • India
        • India Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • India Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • India Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • Japan
        • Japan Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • Japan Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Japan Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • Australia
        • Australia Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • Australia Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Australia Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • South Korea
        • South Korea Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • South Korea Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • South Korea Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
    • Latin America
      • Latin America Buy Now Pay Later Market, by Channel
        • Online
        • POS
      • Latin America Buy Now Pay Later Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • Latin America Buy Now Pay Later Market, by End-use
        • Retail
          • Consumer Electronics
          • Fashion & Garment
          • Others
        • Healthcare
        • Leisure & Entertainment
        • Automotive
        • Others
      • Brazil
        • Brazil Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • Brazil Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Brazil Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • Mexico
        • Mexico Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • Mexico Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • Mexico Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
    • MEA
      • MEA Buy Now Pay Later Market, by Channel
        • Online
        • POS
      • MEA Buy Now Pay Later Market, by Enterprise Size
        • Large Enterprises
        • Small & Medium Enterprises
      • MEA Buy Now Pay Later Market, by End-use
        • Retail
          • Consumer Electronics
          • Fashion & Garment
          • Others
        • Healthcare
        • Leisure & Entertainment
        • Automotive
        • Others
      • UAE
        • UAE Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • UAE Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • UAE Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • KSA
        • KSA Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • KSA Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • KSA Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others
      • South Africa
        • South Africa Buy Now Pay Later Market, by Channel
          • Online
          • POS
        • South Africa Buy Now Pay Later Market, by Enterprise Size
          • Large Enterprises
          • Small & Medium Enterprises
        • South Africa Buy Now Pay Later Market, by End-use
          • Retail
            • Consumer Electronics
            • Fashion & Garment
            • Others
          • Healthcare
          • Leisure & Entertainment
          • Automotive
          • Others

Buy Now Pay Later Market Dynamics

Driver: Increasing number of internet users

The increasing number of internet users worldwide is expected to drive the growth of the buy now, pay later (BNPL) market over the forecast period. According to Data Reportal’s Digital 2021 Global Overview Report, the global internet penetration rate stood at 59.5% with 4.66 billion people around the world using the internet as of January 2021, up 7.3% over the year. Millennials and Gen Z individuals tend to be more tech-savvy and can easily adopt new technologies as compared to Gen X and baby boomer population groups. Hence, the use of the internet tends to be typically high among millennials. According to Finder, 54% of millennials in the U.K. used BNPL solutions for making payments in March 2021.

Driver: Benefits offered by BNPL platforms to both consumers and merchants

BNPL services can potentially benefit both businesses and consumers. For customers, the BNPL model typically ensures financing for small-ticket items with either no payment or a small proportion of the total amount along with a commitment of making the outstanding payments in fewer installments. This feature is particularly driving the popularity of BNPL services among consumers worldwide. According to Kearney, almost 33% of U.S. consumers and 67% of U.K. millennials have used a BNPL service. On the other hand, retailers do not have to bear the risk of defaults as the responsibility of defaults lies entirely on BNPL providers. Advances in the latest technologies, such as machine learning and artificial intelligence, can also help financial institutions in reducing the risk of defaults. All these factors are encouraging retailers to opt for BNPL services. The market is driven by the increasing adoption of online payment methods, including BNPL services, which reshape how consumers make payments and manage their finances. The upsurge in the global point-of-sale installment loans market has been fueled by the rising number of internet users and the growing popularity of BNPL services among millennials and Gen Z individuals.

Restraint: Growing concerns over defaults and subsequent late fees

The late fees charged by BNPL service providers for failing to pay the installments can potentially challenge the growth of the market. Late fees can typically vary based on the policies pursued by the BNPL service providers. For instance, BNPL service provider Afterpay charges USD 10 as a late fee initially and further adds USD 7 if the payment remains unpaid seven days after the scheduled due date. Delaying the repayments can also affect the customers’ credit scores. According to Reuters, 40% of the U.S. consumers using BNPL services missed more than one payment in 2020 and had their credit scores tarnished. A customer with a lower credit score may find it hard to obtain credit services and credit cards and to secure mortgages as a lower credit score makes lenders aware of the financial risks associated with the said customer. As such, concerns over missing repayments and getting credit scores tarnished can potentially hinder any growth in the adoption of BNPL services. Nevertheless, several companies have started dropping late fees as part of the efforts to maintain their competitive edge. For instance, in August 2021, PayPal announced that it would no longer charge late fees for customers missing their repayment due dates.

What Does This Report Include?

This section will provide insights into the contents included in this buy now pay later market report and help gain clarity on the structure of the report to assist readers in navigating smoothly.

Buy now pay later market qualitative analysis

  • Industry overview

  • Industry trends

  • Market drivers and restraints

  • Market size

  • Growth prospects

  • Porter’s analysis

  • PESTEL analysis

  • Key market opportunities prioritized

  • Competitive landscape

    • Company overview

    • Financial performance

    • Product benchmarking

    • Latest strategic developments

Buy now pay later market quantitative analysis

  • Market size, estimates, and forecast from 2017 to 2030

  • Market estimates and forecast for product segments up to 2030

  • Regional market size and forecast for product segments up to 2030

  • Market estimates and forecast for application segments up to 2030

  • Regional market size and forecast for application segments up to 2030

  • Company financial performance

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