Global Buy Now Pay Later (BNPL) Market Size, Share & Trends Analysis Report by Channel (Online and Point of Sale (POS)), by Application (Retail Goods, Media & Entertainment, Healthcare & Wellness, Automotive, Home Improvement, and Others), and by Enterprise Size (Large Enterprises, and Small-Medium Enterprises) Forecast Period (2022-2028) The global buy now pay later (BNPL) market is anticipated to grow at a substantial CAGR of 32.7% during the forecast period. The increasing inflation across the globe is growing the demand for BNPL services in the market, as due to the rising prices of products and services the consumers are shifting their choice for these services which allow them to pay in future in installments and with almost zero interest. Due to the high convenience, and improved security, consumers tend to purchase costly products/ services such as TV, fridge, and other products easily. Further, the rising inflation also decreases the purchasing power of the consumers, due to which users are not able to afford costly products; hence they get attracted to BNPL services. According to the World Bank, the global inflation rate was 3.4% in 2020, which was around 1.9% in 2019. Thus, showcasing an increase in the inflation rate across the globe. Such an increase in inflation raises the cost of products and decreases the purchasing power of consumers. Such factors force the consumers to spend less or use services such as BNPL to avoid heavy payments upfront. The global buy now pay later (BNPL) market is segmented based on channel, application, and enterprise size. Based on channel, the market is segmented into online, and POS. Based on application, the market is sub-segmented into retail goods, media & entertainment, healthcare & wellness, automotive, home improvement, and others. Based on enterprise size, the market is segmented into large enterprises and SMEs. Among the application segment, the retail goods sub-segment is anticipated to grow at the fastest rate during the forecast period, owing to the increase in the consumer's spending on daily essential goods and services at retail stores through the BNPL platform. Customers prefer BNPL payment methods in comparison to credit cards to avoid expensive compounding interest and hidden fees. Increasing awareness among retailers about the flexible and easy BNPL payment method is expected to drive segmental growth during the forecast period. For instance, in February 2022, Dukaan, which is a platform that supports small and medium-sized businesses to set up online stores and sell products digitally, partnered with Simpl, a BNPL platform, to provide BNPL services to Dukaan's merchants. These factors strongly support the growth of the retail segment and BNPL payment market. The global buy now pay later (BNPL) market is further segmented based on geography including North America, Europe, Asia-Pacific, and the Rest of the World. Among all the regions, North America is anticipated to grow at a remarkable rate during the forecast period, owing to the strong presence of key market players. Moreover, numerous fintech companies in this region are entering into a partnership with entertainment companies to offer BNPL services for booking hotel services. For instance, in September 2021, Uplift, Inc., a BNPL solution provider, partnered with SeaWorld Parks & Entertainment, Inc., an American Theme Park, and entertainment company. The major companies serving the global buy now pay later market include Affirm, Inc., Afterpay US Services, LLC, Klarna Inc., PayPal Payments Private Ltd., Splitit Ltd., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in May 2022, Debite extended its BNPL services in the UK. The platform offered by the company is designed specifically for the early-stage companies underserved by traditional lenders and can offer spending limits higher than the loan and credit products typically available to this segment of customers. Research Methodology The market study of the global buy now pay later (BNPL) market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, and derive the total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports. Secondary Sources Include • Financial reports of companies involved in the market. • Whitepapers, research papers, and news blogs. • Company websites and their product catalog. The report provides an in-depth analysis of the market size and intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models. Market Segmentation 1. Global Buy Now Pay Later Market Research and Analysis by Channel. 2. Global Buy Now Pay Later Market Research and Analysis by Application. 3. Global Buy Now Pay Later Market Research and Analysis by Enterprise Size. The Report Covers • Comprehensive research methodology of the global buy now pay later (BNPL) market. • This report also includes a detailed and extensive market overview with key analyst insights. • An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations. • Analysis of regional regulations and other government policies impacting the global buy now pay later (BNPL) market. • Insights about market determinants that are stimulating the global buy now pay later (BNPL) market. • Detailed and extensive market segments with the regional distribution of forecasted revenues. • Extensive profiles and recent developments of market players.