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Global Quick Response (QR) Code Payment Technologies Market – Industry Trends and Forecast to 2028

  • ICT
  • Upcoming Report
  • Mar 2021
  • Global
  • 350 Pages
  • No of Tables: 220
  • No of Figures: 60

Global Quick Response (QR) Code Payment Technologies Market, By Type (Proximity Payment, Remote Payment),  Purchase Type  (Airtime Transfers and Top-ups, Money Transfers and Payments, Merchandise and Coupons, Travel and Ticketing), End User (Hospitality and Tourism Sector, BFSI, Media and Entertainment, Retail Sector, Education, IT and Telecom), 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.

Quick Response (QR) Code Payment Technologies Market Global Quick Response (QR) Code Payment Technologies Market Analysis and Insights      

Quick response (QR) code payment technologies market size is valued at USD 15,540.6 million by 2028 is expected to grow at a compound annual growth rate of 16.20% in the forecast period of 2021 to 2028. Data Bridge Market Research report on quick response (QR) code 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.

Payment technologies generally refer to a concept of making payments using portable electronic devices such as smartphone, tablet, MPOS machines and others. Also these payment technologies are used to make instant payments for goods and services.

The high adoption of smart applications and increasing mobile data usage across the globe has been directly influencing the growth of quick response (QR) code payment technologies market over the forecast period of 2021 to 2028. Also the high adoption of advanced technologies such as near field communication, wearable devices and mobile point-of-sale is also flourishing the growth of the quick response (QR) code payment technologies market. In addition, the rapid technological advancements as well as rapid enlargement in the payment solutions to provide enhanced payment service to the end users are also positively impacting the growth of the market. Furthermore, the rising government initiatives in supporting digital payments and also to promote a cashless economy as well as the growing digitalization and rapid urbanization are also largely lifting the growth of the quick response (QR) code payment technologies market.

However, the high risks associated to processing mobile payments with financial details of the owner as well as loss of critical data and growing security concerns are acting as the major limitations for the growth of quick response (QR) code payment technologies in the forecast period of 2021 to 2028, whereas the intimidation of increasing cyberattacks on digital payment solutions have the potential to challenge the growth of the quick response (QR) code payment technologies market.

Likewise, the increasing fiscal inclusion across the globe along with increasing government and private initiatives to promote digital transactions will further cater ample new opportunities that will lead to the growth of the quick response (QR) code payment technologies market in the above mentioned forecasted period.

This quick response (QR) code 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 quick response (QR) code 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 Quick Response (QR) Code Payment Technologies Market Scope and Market Size

Quick response (QR) code payment technologies market is segmented on the basis of type, 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 type segment of the quick response (QR) code payment technologies market is segmented into proximity payment and remote payment.
  • On the basis of purchase type, the quick response (QR) code payment technologies market is segmented into airtime transfers and top-ups, money transfers and payments, merchandise and coupons and travel and ticketing.
  • Quick response (QR) code payment technologies market is also segmented on the basis of end user into hospitality and tourism sector, BFSI, media and entertainment, retail sector, education and IT and telecom.

Quick Response (QR) Code Payment Technologies Market Country Level Analysis

Quick response (QR) code payment technologies market is analyzed and market size, volume information is provided by country, type, purchase type and end user as referenced above.

The countries covered in the quick response (QR) code 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 quick response (QR) code payment technologies market due to the high adoption of mobile phones as well as early acceptance of new technology and the advantages of safe and easy money transactions in the region. Asia-Pacific is expected to expand at a significant growth rate over the forecast period of 2021 to 2028 owing to rapid increase in population and the active online media in India as well as high growth of e-commerce industry in the region.

The country section of the quick response (QR) code payment technologies market 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 Quick Response (QR) Code Payment Technologies Market Share Analysis

Quick response (QR) code 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 quick response (QR) code payment technologies market.

The major players covered in the quick response (QR) code payment technologies market report are Mastercard, Econet Wireless Zimbabwe, Visa, Fortumo, American Express Company,Boku Inc., Airtel India, Stripe, PayPal, Microsoft, Vodacom, Google, PayU, Comviva, Novatti Group Pty Ltd, Paysafe Holdings UK Limited, Bank of America Corporation, Wirecard, First Data Corporation, Paytm, andApple Inc.,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.


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Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

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