The global mobile payment market size was valued at $1.48 trillion in 2019, and is projected to reach $12.06 trillion by 2027, growing at a CAGR of 30.1% from 2020 to 2027.
Mobile payment is an alternative method for traditional payment systems where cash, cheques or credit cards are the medium of payment. Mobile Payment provide customers a way to purchase any good or services with the help of wireless devices such as smartphones, tablets and others. In addition, Mobile Payment use different technologies such as NFC (Near Field Communication), SMS-based transactional payments and direct mobile billing, for improving the security of the transaction and to provide hassle-free transactions.
mobile payment market has grown rapidly over the past few years. Digital transformation projects across verticals witnessed huge uptake and are also expected to contribute further in the near future. – market gains popularity in various industries including IT & telecom, BFSI, and healthcare, owing to its supreme benefits such as high-speed random access of data and low power consumption.
The report offers key drivers that propel the growth in the global mobile payment market. These insights help market players in devising strategies to gain market presence. The research also outlined restraints of the market. Insights on opportunities are mentioned to assist market players in taking further steps by determining potential in untapped regions.
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The research offers a detailed segmentation of the global mobile payment market. Key segments analyzed in the research include payment type, transaction mode, purchase type, applicationand geography. Extensive analysis of sales, revenue, growth rate, and market share of each for the historic period and the forecast period is offered with the help of tables.
The market is analyzed based on regions and competitive landscape in each region is mentioned. Regions discussed in the study include
North America (United States, Canada and Mexico),
Europe (Germany, France, UK, Russia and Italy),
Asia-Pacific (China, Japan, Korea, India and Southeast Asia),
South America (Brazil, Argentina, Colombia),
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
These insights help to devise strategies and create new opportunities to achieve exceptional results.The research offers an extensive analysis of key players active in the global mobile payment industry. Detailed analysis on operating business segments, product portfolio, business performance, and key strategic developments is offered in the research.
The key players profiled in the Mobile Payment market analysis are American express company, Apple Inc., Google, LLC, JPMorgan Chase & Co, Mastercard, One97 Communications Limited, PayPal Holdings, Inc., PayU, Samsung and Visa Inc.
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Key Benefits:
- The study provides an in-depth analysis of the global Mobile Payment market share along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the global Mobile Payment market size is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the Mobile Payment industry.
- The quantitative analysis of the market for the period 2020–2027 is provided to determine the Mobile Payment market potential.
Key Market Segments
By Payment type
- Proximity
- Remote
By Transaction Mode
- Mobile Web Payments
- Near-Field Communication
- Short Message Service (SMS)/Direct Carrier Billing
- Others
By End User
- Personal
- Business
Key offerings of the report:
- Key drivers & Opportunities: Detailed analysis on driving factors and opportunities in different segments for strategizing.
- Current trends & forecasts: Comprehensive analysis on latest trends, development, and forecasts for next few years to take next steps.
- Segmental analysis: Each segment analysis and driving factors along with revenue forecasts and growth rate analysis.
- Regional Analysis: Thorough analysis of each region help market players devise expansion strategies and take a leap.
- Competitive Landscape: Extensive insights on each of the leading market players for outlining competitive scenario and take steps accordingly.
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