The international consulting firm BCG made a report on the payments market and estimated scenarios for the impact of COVID-19 and the economic downturn.
BCG estimates the size of the global market at $1.5 trillion.
BCG estimates the size of the global market at $1.5 trillion. Under the most optimistic scenario, the average annual growth rate will be 4.4% through 2024 and 5.6% from 2024 to 2029. The global payments market revenue will increase to $1.8 trillion in 2024.
With a slow economic recovery, global payments market revenues will reach $1.7 trillion by 2024, at a growth rate of 2.7%.
This is the growth dynamics of the payments market by region (based on three scenarios).
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