Mobile Money Market size was valued at US$ 3.9 Bn. in 2020 and the total revenue is expected to grow at 26 % through 2021 to 2027, reaching nearly US$ 19.66 Bn.
Mobile Money Market Overview:Mobile Money is a technology that allows consumers to receive, store and spend money using a mobile phone. Also known as a mobile wallet. It is an easy, fast and secure transfer where the sender sends money from their bank to another mobile money account. There are more than 270 different mobile money services throughout the world. Mobile money offers a dual promise, as an engine for financial inclusion, and as an emerging markets business opportunity for providers. It is a popular alternative to both cash and banks because it's easy to use, secure, and can use anywhere there is a mobile phone signal. To know about the Research Methodology :- Request Free Sample Report Though market forecasting through 2027 is based on real output, demand, and supply of 2020, 2020 numbers are also estimated on real numbers published by key players as well all-important players across the world. Market forecasting till 2027 is done based on past data from 2016 to 2019 with the impact of global lockdown on the market in 2020 and 2021.
Mobile Money Market Dynamics:The increase in the number of mobile phones user is driving the growth of the Mobile Money Market. The increasing number of mobile subscribers signifies an increasing potential for monetary transactions using mobile phones driving the growth at an exponential rate. For online financial service providers, mobile money systems can provide a gateway to tap large unexplored market avenues as most of the population is yet to adopt this technology. By developing digital financial capabilities, companies can open themselves up to other submarkets like micropayments, data-based financial services, and potential digital markets. The rise in the efficiency of mobile money transactions has led to an increase in overall spending which has encouraged companies to work towards developing this technology. The use of transaction modes like NFC/smart cards has sped up the process of transactions. People everywhere are increasingly adopting mobile banking services which ensure high transactional security. The development of e-commerce websites has also contributed to an increase in the number of online transactions which has driven the Mobile Money Market. Lack of accessibility to the financial institutions providing mobile money systems along with reliability issues are factors restraining the growth of the market. Blockchain has advocated the decentralization in financial institutions imposing regulations on mobile money systems and Government regulations on mobile money. These factors are impacting the growth of the mobile money market. Market trends and challenges are analyzed and compiled in the report. The data of 2020 is considered for a better understanding of the client. Moreover, Analytics of the market is based on real numbers of past years from 2016 to 2019 with market forecast until 2027.
Mobile Money Market Segment Analysis:By Payment Type, proximity payments dominated the market in 2020 with a 57% share. Mobile phones and point-of-sale devices are used for proximity payments. Many companies now offer applications that enable proximity payments. For short distances and work, proximity payments are specially activated if both the payer and the payee are in the same location. This payment system initiates mobile money transactions using either barcodes or contactless interfaces. This is done using Near Field Communication (NFC) based technology. It contains comprehensive details about mobile wallets that are present on NFC-enabled phones and are stored in the cloud or on debit / credit cards. The increasing acceptance of mobile payment technology by fixed businesses is driving the demand for proximity payments. By Industry, market is integrating mobile money into a wider range of mobile-based health interventions (mHealth), paving the way for maintaining mHealth apps that rely heavily on donor funding. In developing countries, the healthcare system relies heavily on monetary transactions. Using cash for financial transactions creates inefficiencies, leaks, and security issues. On the patient side, cash is often used to pay for services at medical facilities, medicine at pharmacies, health insurance tickets and premiums, and travel to treatment. Banking, Travel and Hospitality are the fastest growing application segments in the mobile money market and are expected to grow at CAGRs of 30.2% and 34.8%, respectively. Companies such as MakeMyTrip, Yatra, and redBus are driving the online payment and mobile money market by allowing bookings only via online platforms and billing directly via mobile operators.
Mobile Money Market Regional Insights:The Middle East and Africa dominated the mobile money market with a 38 % share in 2020. For easy allocation and label money for saving used by women, easy and affordable transfer of money in unexpected negative events are factors driving the market growth in the region. It is increasingly being used beyond transfers and payments and more sophisticated adjacent products such as credit, savings and insurance are gaining traction in this region. It has also enabled previously financially excluded people in Africa to better safeguard their future, as providers help to foster a formal savings culture. These factors are driving the mobile money market growth. Asia Pacific is expected to grow at a CAGR of 4.6 % through the forecast period. Increased smartphone penetration, adoption of mobile money solutions, rapid E-commerce adoption are the factors expected to drive the market growth through the forecast period. The objective of the report is to present a comprehensive analysis of the Mobile Money market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Mobile Money market dynamics, structure by analyzing the market segments and projecting the Mobile Money market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Mobile Money market make the report investor’s guide.
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Global Mobile Money Market Report Coverage Details Base Year: 2020 Forecast Period: 2021-2027 Historical Data: 2016 to 2020 Market Size in 2020: US $ 3.9 Bn. Forecast Period 2021 to 2027 CAGR: 26% Market Size in 2027: US $ 19.66 Bn. Segments Covered: by Payment Type • Remote Payments • Proximity Payments by Industry • BFSI • Telecom and IT • Media and entertainment • Healthcare • Travel and hospitality • Transportation • Others
Mobile Money Market, by Region• North America • Europe • Asia Pacific • Middle East and Africa • South America
Mobile Money Market Key Players• Vodafone • Google • Orange • FIS • PayPal • MasterCard • Fiserve • Airtel • Gemalto • Alipay • MTN • PAYTM • Samsung • VISA • Tencent • Global Payments • Square • Amazon • Apple • Western Union Holdings • Comviva • T- Mobile
FAQ:1] What segments are covered in Mobile Money Market report? Ans. The segments covered in the Mobile Money Market report are based on Payment Type and Industry. 2] Which region is expected to hold the highest share in the Mobile Money Market? Ans. Asia Pacific Region is expected to hold the highest share in the Mobile Money Market. 3] What is the market size of Mobile Money Market by 2027? Ans. The market size of Mobile Money Market by 2027 is US $ 19.66 Bn. 4] Who are the top key players in the Mobile Money Market? Ans. Vodafone, Google, Orange, FIS, PayPal, MasterCard, Fiserve, Airtel, Gemalto, Alipay, MTN, PAYTM, Samsung, VISA, Tencent, Global Payments, Square, Amazon, Apple, Western Union Holdings, Comviva, T- Mobile. 5] What was the market size of Mobile Money Market in 2020? Ans. The market size of Mobile Money Market in 2020 was US $ 3.9 Bn.
1. Global Mobile money Market: Research Methodology 2. Global Mobile money Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Mobile money Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Mobile money Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • Latin America 3.12. COVID-19 Impact 4. Global Mobile money Market Segmentation 4.1. Global Mobile money Market, by Payment Type (2020-2027) • Remote Payments • Proximity Payments 4.2. Global Mobile money Market, by Industry (2020-2027) • BFSI • Telecom and IT • Media and entertainment • Healthcare • Travel and hospitality • Transportation • Others 5. North America Mobile money Market(2020-2027) 5.1. Global Mobile money Market, by Payment Type (2020-2027) • Remote Payments • Proximity Payments 5.2. Global Mobile money Market, by Industry (2020-2027) • BFSI • Telecom and IT • Media and entertainment • Healthcare • Travel and hospitality • Transportation • Others 5.3. North America Mobile money Market, by Country (2020-2027) • United States • Canada • Mexico 6. European Mobile money Market (2020-2027) 6.1. European Mobile money Market, by Payment Type (2020-2027) 6.2. European Mobile money Market, by Industry (2020-2027) 6.3. European Mobile money Market, by Country (2020-2027) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Mobile money Market (2020-2027) 7.1. Asia Pacific Mobile money Market, by Payment Type (2020-2027) 7.2. Asia Pacific Mobile money Market, by Industry (2020-2027) 7.3. Asia Pacific Mobile money Market, by Country (2020-2027) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Mobile money Market (2020-2027) 8.1. Middle East and Africa Mobile money Market, by Payment Type (2020-2027) 8.2. Middle East and Africa Mobile money Market, by Industry (2020-2027) 8.3. Middle East and Africa Mobile money Market, by Country (2020-2027) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. Latin America Mobile money Market (2020-2027) 9.1. Latin America Mobile money Market, by Payment Type (2020-2027) 9.2. Latin America Mobile money Market, by Industry (2020-2027) 9.3. Latin America Mobile money Market, by Country (2020-2027) • Brazil • Argentina • Rest Of Latin America 10. Company Profile: Key players 10.1. Google 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Vodafone 10.3. Orange 10.4. FIS 10.5. PayPal 10.6. MasterCard 10.7. Fiserve 10.8. Airtel 10.9. Gemalto 10.10. Alipay 10.11. MTN 10.12. PAYTM 10.13. Samsung 10.14. VISA 10.15. Tencent 10.16. Global Payments 10.17. Square 10.18. Amazon 10.19. Apple 10.20. Western Union Holdings 10.21. Comviva 10.22. T- Mobile