PUBLISHER: Grand View Research | PRODUCT CODE: 1268869
PUBLISHER: Grand View Research | PRODUCT CODE: 1268869
U.S. Buy Now Pay Later Market Size, Share & Trends Analysis Report By Channel (Online, POS), By Enterprise Size, By End-use (Retail, Healthcare, Leisure & Entertainment), And Segment Forecasts, 2023 - 2030
U.S. Buy Now Pay Later Market Growth & Trends:
The U.S. buy now pay later market size is expected to reach USD 9.20 billion by 2030, growing at a CAGR of 24.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The increasing availability of data and analytics tools is one of the primary factors driving the market growth. Buy now pay later (BNPL) providers can leverage data to understand their customers better and tailor their offerings to meet their needs.
In addition, the use of analytics tools has helped BNPL providers to manage risk more effectively, reducing the likelihood of default and driving growth in the market. This has helped to increase the buy now pay later market size in the U.S. by providing a more personalized and streamlined experience for customers. For example, by understanding that younger consumers may prefer shorter repayment periods or lower fees, BNPL providers can adjust their products to meet those needs better.
In February 2023, global payment acceptance solutions provider Ingenico and Splitit, the white-label installment platform that uses existing consumer credit, formed a partnership. The partnership aimed at enabling no-interest, one-touch BNPL capability at the physical checkout experience. They plan to achieve this by leveraging Splitit's Installments-as-a-Service solution and Ingenico's cloud-based Payments-Platform-as-a-Service (PPaaS).
The economic uncertainties brought about by the COVID-19 pandemic have made many consumers more cautious about their spending, leading to an increased demand for payment solutions that allow for budgeting and financial planning. The pandemic has also led to changes in consumer behavior, with more people shopping online instead of in person. BNPL services have been particularly useful in this regard as they allow consumers to spread the cost of their purchases over time, making it easier to manage their finances, thereby driving the U.S. BNPL market.
U.S. Buy Now Pay Later Market Report Highlights:
- The POS segment is expected to grow at a significant CAGR over the forecast period. The contributing factor to the growth is to improve customer experience and foster customer loyalty, numerous businesses are concentrating on offering point-of-sale buy now pay later financing alternatives
- The large enterprises segment dominated the market in 2022. The adoption of BNPL payment solutions by large-scale enterprises is increasing rapidly as they provide customers with a convenient and cost-effective payment option for buying high-value items. With the added convenience of BNPL, customers are encouraged to purchase more products, leading to increased sales for the enterprises
- The healthcare segment is expected to grow at a significant CAGR over the forecast period. BNPL payment methods are gaining popularity as a low-friction alternative to credit cards in the industry. Customers are also inclined towards BNPL payments as they avoid the costly compounding interest and obscure fees that come with credit cards
Table of Contents
Chapter 1 Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.4. Research Assumptions
- 1.5. List of Data Sources
- 1.5.1. Secondary Sources
- 1.5.2. Primary Sources
Chapter 2 Executive Summary
- 2.1. Market Snapshot
- 2.2. Segment Snapshot
- 2.3. Competitive Landscape Snapshot
Chapter 3 Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.2. U.S. Buy Now Pay Later Market Value Chain Analysis
- 3.3. U.S. Buy Now Pay Later Market Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.1.1. Increasing number of internet users
- 3.3.1.2. Benefits offered by BNPL platforms to both customers and merchants
- 3.3.2. Market Restraint/Challenge Analysis
- 3.3.2.1. Concerns over defaults and subsequent late fees
- 3.3.3. Market Opportunity Analysis
- 3.3.3.1. Growing retail point of sales
- 3.3.1. Market Driver Analysis
- 3.4. U.S. Buy Now Pay Later Market - Porter's Five Forces Analysis
- 3.5. U.S. Buy Now Pay Later Market - PESTEL Analysis
- 3.6. Impact of COVID-19 on the U.S. Buy Now Pay Later Market
Chapter 4 U.S. Buy Now Pay Later Market: Channel Estimates & Trend Analysis
- 4.1. Channel Movement Analysis & Market Share, 2022 & 2030
- 4.2. U.S. Buy Now Pay Later Market Estimates & Forecast, By Channel
- 4.2.1. Online
- 4.2.2. POS
Chapter 5 U.S. Buy Now Pay Later Market: Enterprise Size Estimates & Trend Analysis
- 5.1. Enterprise Size Movement Analysis & Market Share, 2022 & 2030
- 5.2. U.S. Buy Now Pay Later Market Estimates & Forecast, By Enterprise Size
- 5.2.1. Large Enterprises
- 5.2.2. Small & Medium Enterprises
Chapter 6 U.S. Buy Now Pay Later Market: End-use Estimates & Trend Analysis
- 6.1. End-use Movement Analysis & Market Share, 2022 & 2030
- 6.2. U.S. Buy Now Pay Later Market Estimates & Forecast, By End-use
- 6.2.1. Retail
- 6.2.1.1. Consumer Electronics
- 6.2.1.2. Fashion & Garment
- 6.2.1.3. Others
- 6.2.2. Healthcare
- 6.2.3. Leisure & Entertainment
- 6.2.4. Automotive
- 6.2.5. Others
- 6.2.1. Retail
Chapter 7 Competitive Landscape
- 7.1. Company Categorization
- 7.2. Participant's Overview
- 7.2.1. Afterpay US Services, LLC
- 7.2.2. PayPal Holdings, Inc.
- 7.2.3. Affirm, Inc.
- 7.2.4. Splitit
- 7.2.5. Sezzle
- 7.2.6. Perpay, Inc.
- 7.2.7. Uplift, Inc.
- 7.2.8. Amazon
- 7.2.9. Quadpay, Inc.
- 7.2.10. Klarna, Inc.
- 7.3. Financial Performance
- 7.4. Product Benchmarking
- 7.5. Company Market Positioning
- 7.6. Company Market Share Analysis, 2022
- 7.7. Company Heat Map Analysis
- 7.8. Strategic Mapping
- 7.8.1. Expansion
- 7.8.2. Acquisition
- 7.8.3. Collaborations
- 7.8.4. Product/service launch
- 7.8.5. Partnerships
- 7.8.6. Others
List of Tables
- Table 1. U.S. Buy Now Pay Later Market, by Channel, 2017 - 2030 (USD Million)
- Table 2. U.S. Buy Now Pay Later Market, by Enterprise Size, 2017 - 2030 (USD Million)
- Table 3. U.S. Buy Now Pay Later Market, by End-use, 2017 - 2030 (USD Million)
- Table 4. Company Market Share, 2022
- Table 5. Company Heat Map Analysis
- Table 6. Key companies undergoing expansion
- Table 7. Key companies undergoing collaborations
- Table 8. Key companies undergoing new product launch
- Table 9. Key companies undergoing mergers & acquisitions
- Table 10. Key companies undergoing other strategies
List of Figures
- Fig. 1. U.S. buy now pay later market segmentation
- Fig. 2. Information procurement
- Fig. 3. Data analysis models
- Fig. 4. Market formulation and validation
- Fig. 5. Data validating & publishing
- Fig. 6. Market snapshot
- Fig. 7. Segment snapshot
- Fig. 8. Competitive landscape snapshot
- Fig. 9. Parent Market Value, 2022 (USD Million)
- Fig. 10. U.S. buy now pay later market - Industry value chain analysis
- Fig. 11. U.S. buy now pay later market dynamics
- Fig. 12. U.S. buy now pay later market: Porters's analysis
- Fig. 13. U.S. buy now pay later market: PESTEL analysis
- Fig. 14. U.S. buy now pay later market, by channel: key takeaways
- Fig. 15. U.S. buy now pay later market, by channel: market share, 2022 & 2030
- Fig. 16. U.S. buy now pay later market estimates & forecasts, by online, 2017 - 2030 (USD Million)
- Fig. 17. U.S. buy now pay later market estimates & forecasts, by POS, 2017 - 2030 (USD Million)
- Fig. 18. U.S. buy now pay later market, by enterprise size: key takeaways
- Fig. 19. U.S. buy now pay later market, by enterprise size: market share, 2022 & 2030
- Fig. 20. U.S. buy now pay later market estimates & forecasts, by large enterprises, 2017 - 2030 (USD Million)
- Fig. 21. U.S. buy now pay later market estimates & forecasts, by small & medium enterprises, 2017 - 2030 (USD Million)
- Fig. 22. U.S. buy now pay later market, by end-use: key takeaways
- Fig. 23. U.S. buy now pay later market, by end-use: market share, 2022 & 2030
- Fig. 24. U.S. buy now pay later market estimates & forecasts, by retail, 2017 - 2030 (USD Million)
- Fig. 25. U.S. buy now pay later market estimates & forecasts, by consumer electronics, 2017 - 2030 (USD Million)
- Fig. 26. U.S. buy now pay later market estimates & forecasts, by fashion & garment, 2017 - 2030 (USD Million)
- Fig. 27. U.S. buy now pay later market estimates & forecasts, by others, 2017 - 2030 (USD Million)
- Fig. 28. U.S. buy now pay later market estimates & forecasts, by healthcare, 2017 - 2030 (USD Million)
- Fig. 29. U.S. buy now pay later market estimates & forecasts, by leisure & entertainment, 2017 - 2030 (USD Million)
- Fig. 30. U.S. buy now pay later market estimates & forecasts, by automotive, 2017 - 2030 (USD Million)
- Fig. 31. U.S. buy now pay later market estimates & forecasts, by others, 2017 - 2030 (USD Million)
- Fig. 32. Key company categorization
- Fig. 33. Company market positioning
- Fig. 34. Company market share analysis, 2022
- Fig. 35. Strategic framework
