Product Code: PM3910
The global buy now pay later market size is expected to reach USD 80.52 billion by 2032, according to a new study by Polaris Market Research. The report "Buy Now Pay Later Market Share, Size, Trends, Industry Analysis Report, By Channel (Online, POS), By End-use (Retail, Automotive), By Enterprise Size, By Region, And Segment Forecasts, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Market expansion is accredited to the substantial purchasing capability facilitated by Buy Now Pay Later (BNPL) platforms, accompanied by advantages like interest-free transactions and user-friendly payments. Conversely, a rise in the desire for deferred payments in online shopping and an upswing in expenditures on high-value goods are poised to present promising prospects for the market's growth throughout the projected duration.
Various providers of BNPL solutions are forging partnerships with other fintech enterprises to deliver efficient BNPL services. For instance, in July 2023, At Home unveiled a fresh financing alternative, "Synchrony Pay Later." This offering was introduced to provide customers with a BNPL solution. Through this program, individuals can apply for interest-free loans that facilitate the ease of making equal payments over three months for individual purchases ranging from USD 75 to USD 400, all the while not adversely impacting their credit ratings.
The COVID-19 pandemic yielded a favorable influence on the BNPL market. An array of unforeseen challenges arising from widespread lockdowns, restrictions on mobility, both for individuals and goods, the implementation of social distancing measures, and the amplified recognition of BNPL solutions prompted numerous companies to embrace these solutions. This strategic shift was primarily aimed at elevating the quality of the customer experience in a dynamically changing landscape.
In the wake of the pandemic's disruptions, businesses sought innovative avenues to accommodate evolving consumer preferences and circumstances. With physical stores shuttered and traditional payment methods potentially less feasible, the attraction of BNPL solutions grew significantly. These solutions offered consumers an appealing alternative to make purchases without immediate financial strain, aligning well with the uncertainties posed by the pandemic.
As a result of this trend, BNPL solution providers experienced remarkable surges in both their customer base and transaction volumes. The appeal of spreading payments over time, often without incurring interest, resonated strongly with consumers seeking financial flexibility during a time of economic uncertainty. This in turn led to the exponential growth witnessed by BNPL providers, solidifying their position as a convenient and reliable option for modern-day transactions.
Buy Now Pay Later Market Report Highlights
- POS segment will grow at substantial pace, as it provides competitive advantage to the retailers,
- SME segment will grow rapidly, as they using BNPL to maximize profits and to reduce tax burden, and enables flexible re-payment options & and the transparent fees
- Retail segment dominated the market, owing to rise in awareness of among millennials seeking urgent cash
- Key players include Affirm, Klarna, Splitit Payments, Sezzle, Perpay, Zip, PayPal Holdings, and AfterPay Limited.
Polaris Market Research has segmented the buy now pay later market report based on, channel type, enterprise size, end use, and region:
Buy Now Pay Later, Channel Type Outlook (Revenue - USD Billion, 2019 - 2032)
Buy Now Pay Later, Enterprise Size Outlook (Revenue - USD Billion, 2019 - 2032)
- Large Enterprises
- Small & Medium Enterprises
Buy Now Pay Later, End Use Outlook (Revenue - USD Billion, 2019 - 2032)
- Retail
- Consumer Electronics
- Fashion & Garment
- Others
- Healthcare
- Leisure & Entertainment
- Automotive
- Others
Buy Now Pay Later, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Latin America
- Argentina
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Buy Now Pay Later Market Insights
- 4.1. Buy Now Pay Later Market - End Use Snapshot
- 4.2. Buy Now Pay Later Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Rising demands for BNPL among consumers
- 4.2.1.2. Increasing supportive regulatory environment
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Cybersecurity Concerns
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTEL Analysis
- 4.5. Buy Now Pay Later Market End Use Trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Buy Now Pay Later Market, by Channel
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 5.3. Online
- 5.3.1. Global Buy Now Pay Later Market, by Online, by Region, 2019-2032 (USD Billion)
- 5.4. POS
- 5.4.1. Global Buy Now Pay Later Market, by POS, by Region, 2019-2032 (USD Billion)
6. Global Buy Now Pay Later Market, by Enterprise Size
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 6.3. Large Enterprises
- 6.3.1. Global Buy Now Pay Later Market, by Large Enterprises, by Region, 2019-2032 (USD Billion)
- 6.4. Small & Medium Enterprises
- 6.4.1. Global Buy Now Pay Later Market, by Small & Medium Enterprises, by Region, 2019-2032 (USD Billion)
7. Global Buy Now Pay Later Market, by End Use
- 7.1. Key Findings
- 7.2. Introduction
- 7.2.1. Global Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 7.3. Retail
- 7.3.1. Global Buy Now Pay Later Market, by Retail, By Region, 2019-2032 (USD Billion)
- 7.3.2. Consumer Electronics
- 7.3.2.1. Global Buy Now Pay Later Market, by Consumer Electronics, By Region, 2019-2032 (USD Billion)
- 7.3.3. Fashion & Garment
- 7.3.3.1. Global Buy Now Pay Later Market, by Fashion & Garment, By Region, 2019-2032 (USD Billion)
- 7.3.4. Others
- 7.3.4.1. Global Buy Now Pay Later Market, by Others, By Region, 2019-2032 (USD Billion)
- 7.4. Healthcare
- 7.4.1. Global Buy Now Pay Later Market, by Healthcare, By Region, 2019-2032 (USD Billion)
- 7.5. Leisure & Entertainment
- 7.5.1. Global Buy Now Pay Later Market, by Leisure & Entertainment, By Region, 2019-2032 (USD Billion)
- 7.6. Leisure & Entertainment
- 7.6.1. Global Buy Now Pay Later Market, by Leisure & Entertainment, By Region, 2019-2032 (USD Billion)
- 7.7. Others
- 7.7.1. Global Buy Now Pay Later Market, by Others, By Region, 2019-2032 (USD Billion)
8. Global Buy Now Pay Later Market, by Geography
- 8.1. Key findings
- 8.2. Introduction
- 8.2.1. Buy Now Pay Later Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3. Buy Now Pay Later Market - North America
- 8.3.1. North America: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.3.2. North America: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.3.3. North America: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.3.4. Buy Now Pay Later Market - U.S.
- 8.3.4.1. U.S.: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.3.4.2. U.S.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.3.4.3. U.S.: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.3.5. Buy Now Pay Later Market - Canada
- 8.3.5.1. Canada: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.3.5.2. Canada.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.3.5.3. Canada: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.4. Buy Now Pay Later Market - Europe
- 8.4.1. Europe: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.4.2. Europe.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.4.3. Europe: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.4.4. Buy Now Pay Later Market - UK
- 8.4.4.1. UK: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.4.4.2. UK.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.4.4.3. UK: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.4.5. Buy Now Pay Later Market - France
- 8.4.5.1. France: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.4.5.2. France.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.4.5.3. France: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.4.6. Buy Now Pay Later Market - Germany
- 8.4.6.1. Germany: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.4.6.2. Germany.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.4.6.3. Germany: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.4.7. Buy Now Pay Later Market - Italy
- 8.4.7.1. Italy: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.4.7.2. Italy.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.4.7.3. Italy: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.4.8. Buy Now Pay Later Market - Spain
- 8.4.8.1. Spain: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.4.8.2. Spain.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.4.8.3. Spain: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.4.9. Buy Now Pay Later Market - Netherlands
- 8.4.9.1. Netherlands: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.4.9.2. Netherlands.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.4.9.3. Netherlands: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.4.10. Buy Now Pay Later Market - Russia
- 8.4.10.1. Russia: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.4.10.2. Russia.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.4.10.3. Russia: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.5. Buy Now Pay Later Market - Asia Pacific
- 8.5.1. Asia Pacific: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.5.2. Asia Pacific.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.5.3. Asia Pacific: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.5.4. Buy Now Pay Later Market - China
- 8.5.4.1. China: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.5.4.2. China.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.5.4.3. China: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.5.5. Buy Now Pay Later Market - India
- 8.5.5.1. India: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.5.5.2. India.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.5.5.3. India: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.5.6. Buy Now Pay Later Market - Malaysia
- 8.5.6.1. Malaysia: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.5.6.2. Malaysia.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.5.6.3. Malaysia: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.5.7. Buy Now Pay Later Market - Japan
- 8.5.7.1. Japan: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.5.7.2. Japan.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.5.7.3. Japan: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.5.8. Buy Now Pay Later Market - Indonesia
- 8.5.8.1. Indonesia: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.5.8.2. Indonesia.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.5.8.3. Indonesia: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.5.9. Buy Now Pay Later Market - South Korea
- 8.5.9.1. South Korea: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.5.9.2. South Korea.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.5.9.3. South Korea: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.6. Buy Now Pay Later Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.6.2. Middle East & Africa.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.6.3. Middle East & Africa: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.6.4. Buy Now Pay Later Market - Saudi Arabia
- 8.6.4.1. Saudi Arabia: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.6.4.2. Saudi Arabia.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.6.4.3. Saudi Arabia: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.6.5. Buy Now Pay Later Market - UAE
- 8.6.5.1. UAE: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.6.5.2. UAE.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.6.5.3. UAE: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.6.6. Buy Now Pay Later Market - Israel
- 8.6.6.1. Israel: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.6.6.2. Israel.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.6.6.3. Israel: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.6.7. Buy Now Pay Later Market - South Africa
- 8.6.7.1. South Africa: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.6.7.2. South Africa.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.6.7.3. South Africa: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.7. Buy Now Pay Later Market - Latin America
- 8.7.1. Latin America: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.7.2. Latin America.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.7.3. Latin America: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.7.4. Buy Now Pay Later Market - Mexico
- 8.7.4.1. Mexico: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.7.4.2. Mexico.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.7.4.3. Mexico: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.7.5. Buy Now Pay Later Market - Brazil
- 8.7.5.1. Brazil: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.7.5.2. Brazil.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.7.5.3. Brazil: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
- 8.7.6. Buy Now Pay Later Market - Argentina
- 8.7.6.1. Argentina: Buy Now Pay Later Market, by Channel, 2019-2032 (USD Billion)
- 8.7.6.2. Argentina.: Buy Now Pay Later Market, by End Use, 2019-2032 (USD Billion)
- 8.7.6.3. Argentina: Buy Now Pay Later Market, by Enterprise Size, 2019-2032 (USD Billion)
9. Competitive Landscape
- 9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
- 9.2. Partnerships/Collaborations/Agreements/Exhibitions
10. Company Profiles
- 10.1. Affirm, Inc.
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
- 10.2. Klarna Inc.
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
- 10.3. Splitit Payments, Ltd.
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
- 10.4. Sezzle
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
- 10.5. Perpay Inc.
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
- 10.6. Zip Co, Ltd
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
- 10.7. PayPal Holdings, Inc.
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
- 10.8. AfterPay Limited
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
- 10.9. Openpay
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
- 10.10. LatitudePay Financial Services
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
- 10.11. HSBC Group
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development