Global Mobile Payment Technologies Market by type (proximity payment, remote payment), by technology (NFC, QR code, WAP & card-based, digital wallet, banking app-based, SMS-based/DCB, USSD/STK, and others), by purchase type (airtime transfers & top-ups, money transfers & payments, merchandise & coupons, and travel & ticketing), by end use (hospitality & tourism sector, BFSI, media & entertainment, retail sector, education, and IT & telecom), by Geography (North America, Europe, Asia Pacific, Middle East & Africa and South America) is expected to reach US$ 34.69 Bn by 2027, at a CAGR of 35.74%
Increasing number of mobile users and rising adoption of smart devices such as tablets and smartphones are estimated to fuel the growth of mobile payment technologies market. Mobile payment solutions are progressively adopted by developing economies, and rising adoption of smart appliances and rise in mobile data usage are expected to drive the growth of the mobile payment technologies market during the forecast period. Increasing government-led initiatives is boosting the mobile payment technologies market growth.
Near-field communication (NFC) payments are expected to grow rapidly in the forecast period
Near-field communication (NFC) payments are expected to grow rapidly in the forecast period. Digital wallets using NFC for contactless card machines include Google Pay, Samsung Pay, and Apple Pay. NFC phones communicate with NFC-enabled card machines using close-proximity radio frequency identification. The mobile phones don’t have to touch the point of sale to transfer money, but they have to be within rare inches of the terminal.
Asia Pacific is projected to hold a major market share during the forecast period
Asia Pacific is projected to hold a major market share during the forecast period. The increasing adoption of smart applications such as mobile phones and tablets is a major driving factor for the strong growth of the mobile payment technologies market in the Asia Pacific. Moreover, government-led initiatives in China and India to promote digitization is further aiding in the growth of the market.
This report includes a study of marketing and development strategies, along with the product portfolios of prominent companies. It includes the profiles of leading manufacturers such as MasterCard International Inc., Visa, Inc., Google, Inc., American Express, Co., Boku, Inc., Fortumo, PayPal, Inc., Bharti Airtel Ltd., Vodafone Ltd., AT & T, Inc., Apple, Inc., Microsoft Corporation, Ant Financial Services Group, and Tencent.
Maximize market research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about the mobile payment technologies market. Report encompasses the market by different segments and region, providing the in-depth analysis of the overall industry ecosystem, useful for making informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the mobile payment technologies market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain mobile payment technologies market positioning of competitors.
Browse the market data Tables and Figures spread through a comprehensive research report and in-depth TOC on “ Global mobile payment technologies market”
Contact:
MAXIMIZE MARKET RESEARCH PVT. LTD.
Omkar Heights,
Manik Baug, Vadgaon Bk,
Sinhagad Road, Pune – 411051, Maharashtra, India.
+91 9607195908