Global Mobile Payment Transaction Market: Overview
The urge of a faster and convenient payment method has resulted in the evolution of mobile payment transaction market. Further, the involvement of the giant industry veterans has given a kick start to the emergence of the mobile transaction market. Major credit to this rapidly growing industry goes to the advanced technologies involved in the field. Their contribution in easing out the payment processes has multiplied growth in the global mobile payment transaction market. Mobile payment refers to the payment of goods/services/money transfer, or any money transaction carried out through mobiles, smartphones, and smart watches.
The report consist of detailed analysis and key growth aspects of the global mobile payment transaction market. Expert researchers have presented highly accurate data of trends and opportunities associated with this market. The information provided in the report is crucial to understand the market for mobile payment transaction from a global perspective
Global Mobile Payment Transaction Market: Trends and Opportunities
Rising demand for mobile payment transaction services from consumers is expected to be a major factor driving growth in the global mobile payment transaction market. To meet growing consumer demands, giant companies have poured immense fortunes to tranquil payment procedures all over the globe. Exciting launches regarding payment wallets, offers, and cashbacks have managed to gain the attention of almost every class of economy. Furthermore, cashless payments have several pros over traditional payment options such as avoiding the risk of loss or theft of money. This is a major drawback of the conventional payment mode. A growing adoption of smartphones across all the emerging economies has widely influenced growth in mobile payment technologies. The introduction of quick payment methodologies such as NFC, banking apps, and point of sale (m-POS), have widely incited mobile usage for carrying out payments. The evolution of e-commerce industry plays a major role in ushering rapid growth of the global mobile payment transaction market too.
Global Mobile Payment Transaction Market: Geographical Analysis
The global mobile payment transaction market has influenced most economies all over the globe. By region, the mobile payment industries has is mainly spread across North America, Asia-Pacific, and Europe. Of these, Asia-Pacific region is expected to generate highest share of revenue in the market in future. This is mainly due to the high adoption of mobile payments witnessed by this region thanks to budding commerce-based platforms. The mobile penetration in these regions are higher for e-commerce transitions as compared to other regions.
Global Mobile Payment Transaction Market: Competitive Landscape
Global mobile payment transaction market has influenced several giant players of the market. Major companies involving in the global mobile payment transaction are MasterCard Incorporated, Econet Wireless Zimbabwe ltd, Orange S.A., MTN Group Ltd, Bharti Airtel Ltd, Mahindra Comviva Safaricom Ltd, PayPal Holdings, Inc., Millicom International Cellular and so on. Other companies influencing the market are One97 Communications Ltd., TIO Networks Corp., Apple Inc. for Apple Pay, and Google Inc. for Google Wallet.The competition is likely to highly intensify in the market with new features being added by several players.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.