Mobile Payment Market Analysis by Technology (Direct Mobile Billing, Mobile App based Payments, Mobile Web Payment, Mobile Payment via SMS), by Type (B2B, B2C, B2G), by Location (Remote Mobile Payment, Proximity Mobile Payment), by End Use & Regional Forecast 2022-2032
Demand for mobile payments is likely to garner a market value of US$ 42 Bn in 2022 and is expected to register a staggering double digit CAGR of 30% by accumulating a market value of US$ 590 Bn through the assessment period 2022-2032
Rise in m-commerce industry and increase in the penetration of smartphones across the globe is driving the dependency on mobile payments. Furthermore, online shopping of various goods along with businesses using mobile payments is bolstering the demand for mobile payments.
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Prominent mobile payment service providers are continuously striving to enhance the digital financial transactions landscape by introducing highly secure and fast acting wallets and payment gateways. Furthermore, collaborations with governments to facilitate transition towards a digitized economy are also being witnessed. Some prominent developments are as follows:
- In October 2021, Samsung Electronics Co. Ltd launched a scan QR feature with camera and quick panel for easier and faster payments in India. The feature is currently live on Samsung pay compatible devices.
- In August 2021, Visa Inc launched “Bring India Home” initiative. Through this initiative, the company is focusing on making 50 million small businesses across India to go digital. This will help businesses earn money via mobile payments.
Prominent Key Players Of The Mobile Payment Market Survey Report:
- Google (Alphabet Inc.)
- Samsung Electronics Co. Ltd.
- Visa Inc.
- Alibaba Group Holdings Limited
- PayPal Holdings Inc.
- WeChat (Tencent Holdings Limited)
- American Express Company
- M Pesa
- Money Gram International
- Amazon.com Inc.
- Apple Inc.
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Key Segments Covered
- By Technology :
- Direct Mobile Billing
- Interactive Voice Response System based Mobile Payment
- Mobile App based Payments
- Mobile Payments via Near Field Communication
- Mobile Web Payment
- Mobile Payment via SMS
- Other Mobile Payment Technologies
- By Type :
- B2B Mobile Payment
- B2C Mobile Payment
- B2G Mobile Payment
- Other Mobile Payment Types
- By Location :
- Remote Mobile Payment
- Proximity Mobile Payment
- By End Use :
- Mobile Payment for Media & Entertainment
- Mobile Payment for Healthcare
- Mobile Payment for IT & Telecom
- Mobile Payment for Retail & E-commerce
- Mobile Payment for Transportation
- Mobile Payment for BFSI
- Mobile Payment for Other End Uses
- Mobile Payment fragmentation on the basis of product type, end use, and region.
- Comprehensive assessment of upstream starting materials, downstream demand, and present market landscape.
- Collaborations, R&D projects, acquisitions, and product launches of each Mobile Payment player.
- Various regulations imposed by the governments on the consumption of Mobile Payment in detail.
- Impact of modern technologies, such as big data & analytics, artificial intelligence, and social media platforms on the global Mobile Payment.
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The report covers following Mobile Payment Market insights and assessment that are helpful for all participants involved in the Mobile Payment market:
- Data on recently introduced regulations and their impact on key industries and on demand in Mobile Payment
- Latest industry Analysis on Mobile Payment Market, with key analysis of market drivers, trends, and influencing factors
- Key trends Analysis of Mobile Payment Market and changing consumer preferences in major industries.
- Changing Mobile Payment demand and consumption of diverse products
- Major trends underlining funding by key investors in numerous countries
- New investment opportunities in diverse technology and product or service types
- Comprehensive data and Competitive analysis of Mobile Payment major players
- Mobile Payment Market sales in US will grow at a steady pace, driven by growing consumer confidence and economic recovery
- Mobile Payment demand forecast in Europe remains stable, as many countries such as UK, France, and Germany focus on boosting growth
Questionnaire answered in the Mobile Payment Market report include:
- How the market for Mobile Payment has grown?
- What is the present and future outlook of the global Mobile Payment on the basis of region?
- What are the challenges and opportunities for the Mobile Payment?
- Why the consumption of Mobile Payment highest in region?
- In which year segment is expected to overtake segment?
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