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Buy Now Pay Later Global Market Opportunities and Strategies, 2032: Strategic Partnerships and Collaborations, Use of AI-Powered BNPL Services, New Product Launches, Integration With Cloud

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DUBLIN, Feb. 26, 2024 /PRNewswire/ — The “Buy Now Pay Later Global Market Opportunities and Strategies to 2032” report has been added to ResearchAndMarkets.com’s offering.

The global buy now pay later market reached a value of nearly $176.83 billion in 2022, having grown at a compound annual growth rate (CAGR) of 57.2% since 2017. The market is expected to grow from $176.83 billion in 2022 to $1,100,213.1 million in 2027 at a rate of 44.1%. The market is then expected to grow at a CAGR of 19.7% from 2027 and reach $2,705,372.3 million in 2032.

This report describes and explains the buy now pay later market and covers 2017-2022, termed the historic period, and 2022-2027, 2032F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

Growth in the historic period resulted from the increase in the adoption of online payment methods, strong economic growth of developing countries and increase in the number of smartphone users. Factors that negatively affected growth in the historic period included a rise in cyber security concerns.

Going forward, the increasing internet penetration, rising penetration of e-commerce, rising urbanization and increasing government support will drive the market. Factors that could hinder the growth of the buy now pay later market in the future include a lack of awareness of BNPL services and high availability of multiple payment options.

The buy now pay later market is segmented by channel into online and point of sale (POS). The online market was the largest segment of the buy now pay later market segmented by channel, accounting for 98.2% or $173.65 billion of the total in 2022. Going forward, the POS segment is expected to be the fastest growing segment in the buy now pay later market segmented by channel, at a CAGR of 48.4% during 2022-2027.

The buy now pay later market is segmented by enterprise size into large enterprises and small and medium enterprises. The large enterprises market was the largest segment of the buy now pay later market segmented by enterprise size, accounting for 74.6% or $131.98 billion of the total in 2022. Going forward, the small and medium enterprises segment is expected to be the fastest growing segment in the buy now pay later market segmented by enterprise size, at a CAGR of 47.0% during 2022-2027.

The buy now pay later market is segmented by end use into consumer electronics, fashion and garment, healthcare, leisure and entertainment, retail and other end users. The consumer electronics market was the largest segment of the buy now pay later market segmented by end use, accounting for 38.7% or $68.37 billion of the total in 2022. Going forward, the healthcare segment is expected to be the fastest growing segment in the buy now pay later market segmented by end use, at a CAGR of 53.2% during 2022-2027.

Western Europe was the largest region in the buy now pay later market, accounting for 48.7% or $86.06 billion of the total in 2022. It was followed by North America, Asia-Pacific and then the other regions. Going forward, the fastest-growing regions in the buy now pay later market will be Asia-Pacific and North America, where growth will be at CAGRs of 55.7% and 43.3% respectively. These will be followed by Western Europe and South America, where the markets are expected to grow at CAGRs of 41.2% and 32.7% respectively.

The global buy now pay later market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 2.1% of the total market in 2022. Affirm Holdings Inc was the largest competitor with a 0.6% share of the market, followed by PayPal Holdings Inc. with 0.5%, Block, Inc with 0.3%, Zip Co Limited with 0.2%, Klarna Bank AB with 0.2%, Latitude Group Holdings Limited with 0.1%, Sezzle Inc with 0.1%, Amazon.com, Inc with 0.1%, Visa Inc with 0.05% and Laybuy Group Holdings Limited with 0.01%.

The top opportunities in the buy now pay later market segmented by channel will arise in the online segment, which will gain $903.68 billion of global annual sales by 2027. The top opportunities in the buy now pay later market segmented by enterprise size will arise in the large enterprises segment, which will gain $659.84 billion of global annual sales by 2027. The top opportunities in the buy now pay later market segmented by end use will arise in the consumer electronics segment, which will gain $357.70 billion of global annual sales by 2027. The buy now pay later market size will gain the most in Germany at $197.36 billion.

Market-trend-based strategies for the buy now pay later market include focus on new product launches to strengthen their position in the market, focus on using cloud technology for enterprises catering to B2B, B2C and B2B2C markets and to improve operational efficiency, focusing on artificial intelligence (AI) to bring intelligence, efficiency and personalization to the market, focus on offering customers cutting-edge digital services to strengthen their position in the market and focus on strategic partnerships and collaborations to expand their geographical presence.

Player-adopted strategies in the buy now pay later market include focus on enhancing its business operations through strategic collaborations and partnerships, focus on strengthening its operational capabilities through the launch of new solutions and focus on expanding its business capabilities through strategic acquisitions.

To take advantage of the opportunities, the analyst recommends the buy now pay later companies to focus on new product launches, focus on integration with cloud based payment solutions, focus on use of AI-powered buy now pay later (BNPL) services, focus on technology advancements, expand in emerging markets, continue to focus on developed markets, focus on strategic partnerships and collaborations, focus on fast-growing channels, focus on competitive pricing, participate in trade shows and events, continue to focus on B2B promotions and continue to target fast-growing end-user industries.

Key Topics Covered:

1. Executive Summary
1.1. Market Attractiveness and Macro economic Landscape

2. Table of Contents

3. List of Tables

4. List of Figures

5. Report Structure

6. Market Characteristics
6.1. General Market Definition
6.2. Summary
6.3. Buy Now Pay Later Market Definition and Segmentations
6.4. Market Segmentation by Channel
6.4.1. Online
6.4.2. Point of Sale (POS)
6.5. Market Segmentation by Enterprise Size
6.5.1. Large Enterprises
6.5.2. Small and Medium Enterprises (SMEs)
6.6. Market Segmentation by End Use
6.6.1. Consumer Electronics
6.6.2. Fashion and Garments
6.6.3. Healthcare
6.6.4. Leisure and Entertainment
6.6.5. Retail
6.6.6. Other End Users

7. Major Market Trends
7.1. New Product Launches To Enhance Online Shopping
7.2. Integration With Cloud Based Payment Solutions
7.3. Use of AI-Powered Buy Now Pay Later (BNPL) Services in the Financial Landscape
7.4. Technology Advancements To Aid in Development of Digital Services
7.5. Strategic Partnerships and Collaborations Among Market Players

8. Buy Now Pay Later Market – Macro Economic Scenario
8.1. COVID-19 Impact On The Buy Now Pay Later Market
8.2. Impact of The War in Ukraine On The Buy Now Pay Later Market
8.3. Impact of High Inflation On The Buy Now Pay Later Market

9. Global Market Size and Growth
9.1. Market Size
9.2. Historic Market Growth, 2017-2022, Value ($ Million)
9.2.1. Market Drivers 2017-2022
9.2.2. Market Restraints 2017-2022
9.3. Forecast Market Growth, 2022-2027, 2032F Value ($ Million)
9.3.1. 42
9.3.2. Market Restraints 2022-2027

10. Global Buy Now Pay Later Market Segmentation
10.1. Global Buy Now Pay Later Market, Segmentation by Channel, Historic and Forecast, 2017-2023, 2027F, 2032F, Value ($ Million)
10.2. Global Buy Now Pay Later Market, Segmentation by Enterprise Size, Historic and Forecast, 2017-2023, 2027F, 2032F, Value ($ Million)
10.3. Global Buy Now Pay Later Market, Segmentation by End Use, Historic and Forecast, 2017-2023, 2027F, 2032F, Value ($ Million)

11. Buy Now Pay Later Market, Regional and Country Analysis
11.1. Global Buy Now Pay Later Market, by Region, Historic and Forecast, 2017-2023, 2027F, 2032F, Value ($ Million)
11.2. Global Buy Now Pay Later Market, by Country, Historic and Forecast, 2017-2023, 2027F, 2032F, Value ($ Million)

A selection of companies mentioned in this report includes

Affirm Holdings IncPayPal Holdings IncBlock, IncZip Co LimitedKlarna Bank ABLatitude Group Holdings LimitedSezzle IncAmazon.com, IncVisa IncLaybuy Group Holdings LimitedePayLaterZest MoneyLazypayPaytmLatitudePayOpenpayAnt Check Later (Huabei)JD Baitiao (JD Finance)360 Finance (Qihoo 360)Payl8r (Social Money Ltd)Klarna IncAlmaZilchClearpayTwistoMokkaRevo TechnologiesThinking CapitalLendifiedMerchant Advance CapitalCIBC Small Business LoansKabbageOnDeckLendingClubWells FargoBlueVineSquare CapitalRapidAdvanceFunding CircleCrediblyFunderaBanco do BrasilCaixa Economica FederalBradescoItau UnibancoSantander BrasilNubankPagSeguroCreditasGeruBanco InterTamaraPostpayTabbySpotiiZinaFlexxPayLipa Later GroupBlnkKeza AfricaCD CareZillaPayflex

For more information about this report visit https://www.researchandmarkets.com/r/c354o4

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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SOURCE Research and Markets

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Data Center Asia 2025 Set for Ground-breaking Launch in Hong Kong

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HONG KONG, Sept. 22, 2024 /PRNewswire/ — Positioned as an essential knowledge exchange platform and a cross-continental meeting place for the industry, Data Center Asia (DCA), organized by Informa Markets Asia, is set to make its grand debut from 15 to 17 July 2025 at AsiaWorld-Expo, Hong Kong. Building on the success of the long-running, AFCOM-affiliated Data Center World event in the US, Data Center Asia will serve as the epicenter for data center technology innovations and business transformations in the fast-growing Asia-Pacific markets, with highlights to the regional hotspots such as the Greater Bay Area (GBA). Hong Kong as a prime event location allows the event to attract a diverse visitor mix across Asia-Pacific region and boost the connectivity with global markets.

By showcasing the end-to-end data center value chain, DCA 2025 promises to be a transformative moment for Asia’s data center ecosystem, offering unparalleled opportunities for education, networking and sourcing that will shape the future of digital infrastructure. The event will be co-located with Build4Asia, The Battery Show Asia and Mobility Tech Asia, bringing content and visitor synergies under a broad renewable energy theme that covers advanced battery technologies, energy storage, electric/hybrid technologies, green facilities and green building solutions, and other relevant subjects.

The Ultimate Showcase of Data Center Innovations

The three-day DCA 2025 will showcase hundreds of advanced solutions designed to help attendees refine their data center strategies. Exhibitors will span the entire data center industry ecosystem, bringing together every key element from data center infrastructure, design engineering and systems integration, intelligent products and technologies, cloud and virtualisation to telecommunications. Corporate users and industry professionals including data center operators, IT and infrastructure managers, facility managers, cloud service experts, cybersecurity specialists and sustainability advocates will have the opportunity to connect with top-tier global suppliers, explore the latest technologies, and rethink the full lifecycle of data center operations.

Held alongside the exhibition, The DCA conference will feature a series of expertly curated tracks, each focused on the latest trends and best practice in the industry. Featuring over 100 top-tier speakers across the region and from outside Asia, attendees will   engage in in-depth discussions on key topics such as the current market landscape, energy efficiency & sustainability, data center design & operations, among many others. This dynamic exchange of ideas will inject new energy into the data center communities, offering attendees invaluable insights and practical takeaways.

Hong Kong as a Springboard to China and the Wider Asian Markets

Strategically located in the heart of Asia, Hong Kong bridges between Mainland China and the rest of the world, offering unmatched access for foreign businesses to enter the burgeoning GBA and the wider China markets and meanwhile enabling China local enterprises to expand their global footprint. Situated at AsiaWorld-Expo, which is conveniently located next to the Hong Kong International Airport and near the Hong Kong-Zhuhai-Macao Bridge, DCA 2025 ensures seamless access for visitors from all directions, making it an ideal platform to foster global connections and explore trans-continental business opportunities.

Hong Kong is distinguished by its superior connectivity, deep talent pool and advanced hardware infrastructure that complement the essential needs of the data center industry. The city’s commitment to supporting this sector is evident in its significant government initiatives, including subsidies for relevant R&D projects and the redevelopment initiatives to convert industrial buildings into the state-of-the-art data centers. These efforts are also complemented by Hong Kong’s strong supply-demand dynamics within key industries such as finance, trade, insurance and logistics, which drive lasting and robust needs for data center solutions. All these offer a fertile environment for investment and growth to the data center.

Strategic Co-Location for Maximum Synergy

As a strategic move to create powerful synergies, DCA 2025 will be co-located with three other technology-focused events held across seven standard halls at AsiaWorld-Expo:

the locally acclaimed Build4Asia, which specializes in green building, smart facilities and efficient power managementthe inaugural edition of The Battery Show Asia, which showcases the advancements in advanced battery and energy storage technologiesthe newly created Mobility Tech Asia, which explores the future of new energy vehicles across land, air and water.

This co-location is set to attract a diverse audience encompassing regional professionals from Internet Data Center (IDC) experts, EPC contractors, data center infrastructure manufacturers and distributors, end users and more, which would offer a broader perspective on data applications and drive valuable cross-sector exchange.

In addition, leveraging Informa’s extensive technology media network including Data Center Knowledge, InformationWeek, Network Computing and OMdia, DCA 2025 will serve up unprecedented opportunities for networking, knowledge exchange and business collaborations. The extensive industry expertise and audience base brought by these sister brands will significantly enhance the event’s global impact and educational value.

Join Us to Shape the Future of Data Center

Data Center Asia 2025 is set to be a premier destination for business networking and knowledge exchange and an industry-leading think tank. The event will cultivate a vibrant community of researchers, business leaders, industry associations and opinion makers, all of whom will contribute ground-breaking insights that could make a lasting impact on Asia’s data center industry. Join us in Hong Kong from 15 to 17 July 2025 and be a part of the conversation that will shape the future of Asian data center industry!

About Informa Markets

Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. Our portfolio is comprised of more than 550 international B2B events and brands in markets including Healthcare & Pharmaceuticals, Infrastructure, Construction & Real Estate, Fashion & Apparel, Hospitality, Food & Beverage, and Health & Nutrition, among others. We provide customers and partners around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, specialist digital content and actionable data solutions. As the world’s leading exhibitions organizer, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com.

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SOURCE Informa Markets Asia; Data Center Asia

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On Track for A Low Carbon Future: CRRC to Unveil Passenger and Freight Rail Transit and Full Life-Cycle System Solutions at InnoTrans 2024

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BERLIN, Sept. 22, 2024 /PRNewswire/ — Under the theme of On Track for A Low Carbon Future, CRRC Corporation Limited (“CRRC”, SHA: 601766) will display its line-up of passenger and freight transportation offerings, alongside full life-cycle system solutions, at InnoTrans 2024 in Berlin, Germany. Highlighting the event, two innovative, eco-friendly, and intelligent trains will make their world premiere: the CINOVA H2 New Energy Intelligent Intercity Train and the Autonomous Rail Rapid Transit (ART) 2.0, at Stand 210, Hall 4.2 of the venue.

Green Intelligent Passenger Transport Solutions

CRRC will showcase its environmentally responsible and intelligent passenger transport solutions, which include the Intelligent EMU, Intercity/Regional EMU, Intelligent Urban Rail Transit, and New Energy Passenger Transportation. These offerings cater to every speed level and application scenario, envisioning a future of passenger transport that is faster, greener, smarter, and more cost-effective.

The exhibition will highlight standout products that are redefining passenger mobility, including the 350 km/h High-Speed Intelligent EMU, the CINOVA 2.0 New Intelligent Intercity/Regional EMU, the 160 km/h Hydrogen Full-Automatic Intelligent Regional Train, and the Autonomous Rail Rapid Transit (ART).

Diversified Freight Transport Solutions

CRRC introduce a wide range of heavy-duty, fast, and environmentally responsible solutions during the event. To address the growing demand for higher freight capacity, CRRC plans to unveil several new products, among them, the 24-axle Freight Electric Locomotive and the 45-ton Axle Load Ore Car. The 350 km/h High-Speed Freight EMU, the fastest and the most spacious in the industry, will be a focal point. In line with the global push for green transportation, CRRC will launch its serialized new energy locomotives, including the diesel-battery hybrid locomotive, the power battery locomotive, and the hydrogen-battery hybrid locomotive, with power levels from 1000KW to 2000KW. The diversified solutions offer more choices for the global railway freight industry.

Full Life-Cycle System Solutions

CRRC will showcase its expertise beyond just train units with the Train-Ground Integrated Electromechanical System (TIES), a game-changer that centers on the vehicle and incorporates all related operating scenarios. The system reconstructs, integrates, and optimizes the electromechanical system for power supply, signaling, track, depot and passenger service scenarios. It exemplifies the Train-Ground Integration concept, driving overall efficiency gains across disciplines and throughout the entire vehicle-road-station-depot lifecycle.

Focusing on user experience and the diverse needs of the global rail transit market, CRRC will give a detailed presentation on its Digital Life-Cycle System Solution (DLS) at the event. The flexible solution accommodates various city sizes and populations through tailored system designs that support diverse business models such as PPP (public-private partnership), system integration, and electro-mechanical turnkey projects.

For more information about CRRC at the exhibition, please visit https://www.crrcgc.cc/en/.

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SOURCE CRRC Corporation Limited

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Reshaping Future Lifestyles: Markor Unveils AI Strategy at the Apsara Conference

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BEIJING, Sept. 21, 2024 /PRNewswire/ — On September 19, the 2024 China Apsara Conference, a major annual event for the Chinese cloud computing industry, commenced in Hangzhou. Over three days, industry representatives, media professionals, and numerous AI technology enthusiasts gathered to witness the event’s grandeur.

This year’s summit, themed “AI on Cloud: Recharging• Innovating • Transforming,” spotlighted the evolution of cloud computing across various sectors in the AI era, presenting the world’s largest showcase of generative AI applications. Industry giants including NVIDIA, Intel, Alibaba Cloud, and Tesla were in attendance. Markor distinguished itself as the sole home furnishing company represented at the summit, presenting its cutting-edge “AI Smart Home” system, which introduced a new era of AI-driven home consumption experiences, attracting significant attention.

Live at the Scene: Markor’s AI Smart Home Takes a Giant Leap Forward

From its transition to new retail in recent years to its embrace of AI, the home furnishing industry’s exploration and implementation of AI have drawn immense attention. It has been recognized as a long-term strategy that will influence the future of urban living and people’s quality of life.
In 2023, dubbed the first year of AI in China, Markor led the industry by launching its AI-powered home application, “AI Smart Home.” This program integrates cutting-edge AI model technology with a curated selection of best-selling products, offering features such as a home knowledge encyclopedia, lifestyle analysis and recommendations, design style suggestions, furniture recommendations, and one-click product replacements, providing users with 24/7 intelligent home design and easy home setup solutions.

The AI Smart Home system revolutionizes traditional home setup processes, enabling users to enjoy services conveniently via mobile devices. At the summit, Markor provided live demonstrations of the AI Smart Home system, with an interactive area for hands-on experiences. The system’s ease of use, wide range of style options, instant results, one-click sharing, and seamless purchasing capabilities ushered in a new era, allowing attendees to transition from imagining AI-powered home setups to instantly experiencing full-room services. The audience was left impressed and full of praise.

As the world’s first AI multimodal model for professional interior design, and the only AI application to incorporate a large language model in home furnishing retail, the AI Smart Home offers flexible and dynamic solutions that go beyond pre-existing layout-generated designs. It represents a groundbreaking leap in the home industry, emerging as a leading tool that reshapes service ecosystems.

Open, Shared, and Collaborative AI Business Achievements Define AI’s Sustainable Future

As a traditional home furnishing retailer closely tied to people’s daily lives, the success of AI Smart Home is no coincidence. Markor’s global strategy and presence ensure that the brand remains open and internationally competitive. Whether through prestigious awards or its global manufacturing footprint, each leap in innovation is supported by its competitive edge.
Since the beta launch of AI Smart Home by Markor Furnishings, a home furnishing brand under Markor, it has recorded over 50,000 page visits in a short time, with tens of thousands of users generating sales orders worth tens of millions of yuan. This achievement has boosted confidence in the traditional industry’s digital transformation.
A representative of Markor at the summit stated, “AI represents openness, and Markor has always embraced the times through an open ecosystem to meet users’ needs. With over 20 years of accumulated lifestyle experience, we aim to extend the reach of quality living experiences through AI interaction and expansion. The true sustainable future of AI lies in achieving shared success among users, brands, and technology platforms.”

It is evident that Markor is not simply focused on app development; it is committed to a long-term strategy that builds AI-driven lifestyles and reshapes business models. By creating personalized shopping experiences and innovating marketing models that cater to new consumer demands, Markor’s AI-based tools like “AI Xiaomei” and “AI Smart Home” serve as personalized recommendation and virtual design solutions. The company is poised to further enhance its services by leveraging AI to accurately predict market trends, optimize advertising effectiveness, and upgrade customer solutions, thus driving marketing conversion opportunities. Through disruptive shopping experiences and business models, Markor aims to become the world’s first AI-driven home furnishing brand with a fully digital and intelligent shopping experience.

Pioneering Future Living with AI: Unlocking New Opportunities

Markor is committed to leveraging technological convenience, unlocking potential, and sharing technological benefits. As a trailblazer in quality living, its development path consistently follows a “science + art” approach, which has proven to be a long-term strategy in line with current market trends. In 2024, Markor was honored with the title of “Outstanding Home Furnishing Brand Enterprise of 2024.” Its sub-brand, Markor Furnishings, reached a new brand value of over 32.2 billion yuan, securing a spot in the “Top 100 New Quality Home Brands of 2024” and winning the “Home Service Excellence Award” for the 13th consecutive year.
Backed by its national-level Industrial Design Center, robust R&D systems, and global operational capabilities, Markor continues to invigorate the ecosystem through digitalization, intelligence, and supply chain integration. With AI Smart Home as the bridge, Markor is reigniting public interest and confidence in AI’s potential and advancing the commercialization of AI technologies like natural language processing. It is building a continually open-source platform for both DTC end-users and B2B interior designers.
In July 2024, Markor hosted the “Art + AI + Life” forum in Beijing and launched a national AI painting and design competition, further embedding AI practices in the industry. In September, it signed a strategic partnership with the AI technology leader Shengshu Technology to break new ground in product design, manufacturing, marketing content innovation, and service experience. This collaboration will fuel the company’s efforts toward smart, personalized home furnishing upgrades, setting new benchmarks in the industry. These initiatives underscore Markor’s determination to use AI to enhance its future competitiveness.

Democratizing design empowers everyone to shape their dreams and take control of their future. Markor’s ongoing AI strategy not only provides opportunities for those pursuing a better life but also highlights new possibilities in the ever-evolving home living landscape.

 

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SOURCE Markor International Home Furnishings

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