Master Recharge API Market Share

APAC Market Forecasts

The master recharge API market in the Asia Pacific region is expected to hold the largest revenue share of 33% by the end of 2037. The growth can be attributed on the back of the rise in the number of projects associated with digitalization and growing government initiatives to use master recharge APIs, particularly in developing countries. It can be said that the region is rapidly adopting technology and the widespread use of digital wallets, as well as a number of smartphone payment interfaces, contributed to this growth. Apple Pay, Amazon Pay, Google Pay, Paytm and many more online payment options are now being progressively introduced in a number of Asian countries.

North American Market Statistics

The master recharge API market in the North America region is expected to grow substantially by the end of the studied period. This can be credited to the early adoption of technology, and the high usage of digital wallets for the real time payments and other smartphone-based payment interfaces in the region. For instance, more than 45 percent of the population aged 24-39 years in the United States used digital wallets in 2020, followed by almost 44 percent of the people belonging to the age group of 18-23-year-olds. Apart from these, the strong presence of several payment providers is also projected to accelerate North America’s market growth in the coming years.