Home > Media & Technology > Next Generation Technologies > Fintech > Autonomous IoT Payments Market

Autonomous IoT Payments Market Share

Report ID: GMI11094
Published Date: Aug 2024
Report Format: PDF

Download Free Sample

Autonomous IoT Payments Market Share

Visa Inc., Mastercard Incorporated, PayPal Holdings, Inc., and Amazon Web Services (AWS) are leading players in the autonomous IoT payments industry, collectively holding over 20% of the market share. Visa Inc. and Mastercard Incorporated dominate the global payments landscape, due to extensive networks, trusted brands, and advanced payment processing capabilities. These companies have invested heavily in developing secure, scalable payment platforms that support a wide range of transaction types, including those required for IoT-enabled devices.

Their ability to offer seamless, real-time payment processing across millions of merchants globally makes them indispensable in the autonomous IoT payments space. Additionally, their partnerships with IoT manufacturers and service providers allow for the integration of their payment solutions directly into smart devices, facilitating automated transactions.

Autonomous IoT Payments Market Companies

Major players operating in the autonomous IoT payments industry are:

Amazon Web Services (AWS)
Apple Inc. (Apple Pay)
Cisco Systems, Inc.
First Data (now part of Fiserv)
Gemalto (a Thales Group company)
Google LLC (Google Pay)
Honeywell International Inc.
IBM Corporation
Intel Corporation
Mastercard Incorporated
Visa Inc.

Authors: Preeti Wadhwani, Aishvarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of autonomous IoT payments reached USD 37 billion in 2023 and is set to register over 40% CAGR between 2023 and 2032, led by rising consumer demand for convenience.

The solution segment accounted for over 77% share in 2023, due to its comprehensive offerings, including payment gateways, processing platforms, and integrated security features tailored to IoT environments.

North America market held a share of over 38% in 2023, owing to its advanced technological infrastructure and high adoption of IoT solutions across various industries.

Amazon Web Services (AWS), Apple Inc. (Apple Pay), Cisco Systems, Inc, First Data (now part of Fiserv), Gemalto (a Thales Group company), Google LLC (Google Pay) among others.