DUBLIN–(BUSINESS WIRE)–The “Australia Buy Now Pay Later Business and Investment Opportunities – 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics – Q1 2022 Update” report has been added to ResearchAndMarkets.com’s offering.
According to the Q4 2021 BNPL Survey, BNPL payment in Australia is expected to grow by 72.1% on annual basis to reach US$ 13516.0 million in 2022.
Medium to long term growth story of BNPL industry in Australia remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 42.7% during 2022-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 7854.4 million in 2021 to reach US$ 114141.5 million by 2028.
Over the last few quarters, the buy now pay later (BNPL) payment method has been at the forefront of the digital payment revolution globally. In Australia, the sector has continued to record robust growth in the last four to six quarters, and the trend is expected to continue in the short-term perspective. While the growth of the payment method has been supported by the growing adoption of online shopping during the global pandemic, BNPL firms are now betting big on the adoption of payment methods for in-store shopping.
Moreover, as the competition continues to grow in Australia, the publisher expects more firms to expand their footprint in the international market to maintain sustainable growth over a longer period of time. Over the next few quarters, the publisher anticipates several mergers and acquisitions activities in the Australian BNPL industry, as these firms are looking to offer their customers value-added services.
Leading payment companies are expanding their reach in the Australian BNPL sector
The Australian BNPL industry is one of the most competitive markets with the presence of more than 20 BNPL players, according to the Reserve Bank of Australia. The entry of leading global payment companies is expected to further intensify the competition in the already competitive BNPL space.
Australian BNPL companies continue global expansion through strategic investments and partnerships
The global BNPL market is expected to grow significantly over the next four to eight quarters. To capitalize on this growing global market opportunity, Australia-based BNPL players are expanding their footprint internationally.
BNPL platforms are launching innovative features to offer value-added services in Australia
As the competition in the BNPL space continues to intensify and grow in the country, firms are launching innovative features for their users to expand their value proposition.
The publisher expects other BNPL platforms to also innovate with their feature offering over the next four to eight quarters, which will subsequently boost the popularity of BNPL products among consumers in Australia.
Scope
Australia BNPL Market Size and Spending Pattern
Australia Buy Now Pay Later Operational KPIs
Australia Buy Now Pay Later Market Share Analysis by Key Players
Australia Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast
Australia Buy Now Pay Later in Retail Shopping: Market Size and Forecast
Australia Buy Now Pay Later in Home Improvement: Market Size and Forecast
Australia Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast
Australia Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast
Australia Buy Now Pay Later in Other: Market Size and Forecast
Australia Buy Now Pay Later Analysis by Consumer Attitude and Behaviour
For more information about this report visit https://www.researchandmarkets.com/r/xch7h
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