Global QR Codes Payment Market Size to Surpass USD 51.58 Billion Growth by 2032

The QR codes payment market size is anticipated to grow from USD 11.2 Billion in 2022 to USD 51.58 Billion in 10 years, growing at a CAGR of 16.5%.

The market ought to witness a positive growth rate owing to increasing adoption of QR codes payment plans across the business enterprises. North America region emerged as the most prominent global QR codes payment market, with a 39.0% market revenue share in 2022.

Consumers turned away from real currency and payment cards due to lockdowns, social segmentation policies, and health concerns, which increased their reliance on digital payment methods. Due to their contactless and touch-frее features, QR code payments have gained popularity among both customers and companies. People were looking for safer and more convenient ways to conduct transactions, and this increase in digital adoption helped QR code payments within the main system.

The pandemic raised awareness of personal cleanliness and the dangers of physical contact. Contactless payment techniques, such as QR codes, have become more popular. People were reluctant to utilize QR codes during the pre-pandemic situation. Different enterprises across industry verticals accepted the use of QR code payment solutions at point-of-sale terminals and e-commerce platforms after realizing the demand for contactless payment choices.