Global Mobile Payment Technologies Market, Payment Mode (Proximity Payment, Remote Payment), Purchase Type (Airtime Transfers and Top-Ups, Merchandise and Coupons, Money Transfers and Payments, Travel and Ticketing, Others), End User (BFSI, Retail, Media and Entertainment, Hospitality and Tourism, Education, Healthcare, IT and Telecommunications, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The mobile payment technologies market size is valued at USD 47.17 billion by 2028 is expected to grow at a compound annual growth rate of 35.98% in the forecast period of 2021 to 2028. Data Bridge Market Research report on mobile payment technologies provides analysis and insights regarding the various factors expected to be prevalent throughout the forecasted period while providing their impacts on the market’s growth.
Mobile payment technologies are the type of services where the users can transact with individuals and organizations with the help of their smart devices, in the financial sense for the exchange of products and services availed by the user. The incorporation of these technologies with smart devices transforms them into a mode of payment operations, helping in safe fiscal transactions.
The increase in the usage of enhanced technologies such as mobile point-of-sale, wearable devices and near field communication is expected to influence the growth of mobile payment technologies market over the forecast period of 2021 to 2028. Also the easy availability of high speed network connectivity in developed and developing countries and increase in penetration of digital transactions are also anticipated to flourish the growth of the mobile payment technologies market. Furthermore, the advent of contactless point of sale in restaurants is also likely to positively impact the growth of the market. Moreover, the ease of handling and quick processing and accessibility of more options to make payment using mobile are also expected create a huge demand for mobile payment technologies as well as lifting the growth of the mobile payment technologies market.
However, the high risk of loss of critical data and security concerns are expected to act as the major limitations for the growth of mobile payment technologies in the above mentioned forecasted period, whereas the privacy concerns over data security can challenge the mobile payment technologies market growth in the forecast period of 2021 to 2028.
Likewise, the rise in government initiatives in supporting digital payments and the rapid growth in the mobile payment solutions to provide better payment service to the end-users are expected to create various new opportunities that will lead to the growth of the mobile payment technologies market in the above mentioned forecasted period.
This mobile payment technologies market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the mobile payment technologies market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Mobile Payment Technologies Market Scope and Market Size
The mobile payment technologies market is segmented on the basis of payment mode, purchase type, and end user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- The payment mode segment of the mobile payment technologies market is segmented into proximity payment and remote payment. Proximity payment has further been segmented into near field communication (NFC) and QR code payment. Remote payment has further been segmented into USSD/STK, direct operator billing (credit/debit card-based), digital wallet and SMS based.
- Based on purchase type, the mobile payment technologies market is segmented into airtime transfers and top-ups, merchandise and coupons, money transfers and payments, travel and ticketing and others.
- Based on end user, the mobile payment technologies market is segmented into BFSI, retail, media and entertainment, hospitality and tourism, education, healthcare, IT and telecommunications and others.
Mobile Payment Technologies Market Country Level Analysis
The mobile payment technologies market is analyzed and market size, volume information is provided by country, payment mode, purchase type, and end user as referenced above.
The countries covered in the mobile payment technologies market report are U.S., Canada and Mexico in North America, Brazil, Argentina and Rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA)as a part of Middle East and Africa (MEA).
North America leads the mobile payment technologies market due to the high adoption of smart products such as smart watch, smart phone, tablet and others as well as the strong presence of major key players. Asia-Pacific is expected to expand at a significant growth rate of over the forecast period of 2021 to 2028 owing to the increase in population and the active online media in India as well as high growth in e-commerce.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Mobile Payment Technologies Market Share Analysis
The mobile payment technologies market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, regional presence, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to mobile payment technologies market.
The major players covered in the mobile payment technologies market report are Visa, Airtel India, Boku Inc., Apple Inc., AT&T Intellectual Property, Mastercard, Google, Fortumo, American Express Company, PayPal, Vodafone Group, Fiserv, Inc., Microsoft, First Data Corporation, BlueSnap Inc., Global Payments Inc., Paytm, SIX Payment Services, FIS and Stripe among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Customization Available : Global Mobile Payment Technologies Market
Data Bridge Market Research is a leader in consulting and advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include production cost analysis, trade route analysis, price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), import export and grey area results data, literature review, consumer analysis and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.