DUBLIN–(BUSINESS WIRE)–The “Asia Pacific Buy Now Pay Later Business and Investment Opportunities – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Q3 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
The BNPL payment industry in Asia Pacific has recorded strong growth over the last four quarters, supported by increased ecommerce penetration along with the impact of economic slowdown due to disruption caused by Covid-19 outbreak.
According to the publisher, BNPL payments in the region are expected to grow by 45.3% on an annual basis to reach US$201.9 billion in 2022.
Medium to long term growth story of BNPL industry in Asia Pacific remains strong. BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 25.3% during 2022-2028. The BNPL Gross Merchandise Value in the region will increase from US$139.0 billion in 2021 to reach US$782.9 billion by 2028.
The Asia-Pacific region’s buy now, pay later (BNPL) market had strong growth over the previous four to six quarters. The top BNPL companies in the world are based in Asia. Singapore, Indonesia, Malaysia, Australia, India, and China all saw high demand for BNPL payment methods.
Australian consumers have been one of the early adopters of the buy now pay later (BNPL) payment method globally. The explosion in the popularity of the BNPL payment method during the global pandemic outbreak has seen many traditional financial services firms, including banks, rapidly move into the BNPL space, either in collaboration with established BNPL providers or introducing their deferred payment service, despite initial hesitancy and skepticism about these payment arrangements.
Recent moves by BNPL providers, such as Afterpay, also indicate where the next growth phase of the BNPL industry may come from. The Australia-based firm, which Square has acquired, is making inroads in the physical retail segment by integrating the BNPL payment method with in-store point of sale solutions offered by Square.
BNPL providers are expanding their services into new product categories to drive growth amid rising competition
Amid the growing competition in the Australian BNPL industry, firms are expanding their services into new product categories to gain more traction among consumers and drive growth.
The publisher expects the trend to grow further as players seek to expand their services into more product categories amid the growing competition in the Australian BNPL market.
This title is a bundled offering, combining the following 12 reports:
1. Asia Pacific Buy Now Pay Later Insight Brief
2. Asia Pacific Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
3. Australia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
4. China Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
5. India Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
6. Indonesia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
7. Japan Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
8. Malaysia Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
9. Philippines Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
10. Singapore Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
11. South Korea Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
12. Thailand Buy Now Pay Later Business and Investment Opportunities (2019-2028) Databook
Scope
Country reports in this bundled offering provide in-depth analysis of Buy Now Pay Later industry. Below is a summary of key market segments:
BNPL Market Size and Spending Pattern
Buy Now Pay Later Operational KPIs
Buy Now Pay Later Market Share Analysis by Key Players
Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
Buy Now Pay Later in Retail Shopping: Market Size and Forecast
Buy Now Pay Later in Home Improvement: Market Size and Forecast
Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
Buy Now Pay Later in Other: Market Size and Forecast
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/g7gx1x
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