Mobile Payment
Global Mobile Payment Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts to 2030
A Mobile Payment is money transfer or payment that made for a service or a product by using electronic gadgets such as mobile, tab, and smartphone. In the mobile transaction, a code is generated that can be send by (over the air) OTA or manually this is done by internet connection. About 80% global population use mobile or smartphones in day to day life. In 2019 60% people using mobile payment for services and product. Payment can be done at any time by using it, account balance can be check from anywhere, it is cost effective, and risk free are the some advantages of mobile payment. Privacy issue, not supported in some smart phones, and payment error are some disadvantages of it. In 2016 Global mobile payment market was valued USD 1.5 billion in 2020 trillion and it anticipated to reach USD 18.9 billion in 2030, with 28.60% CAGR in forecast period.
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Market Dynamics and Factors:
The mobile payment can make easily and more convenient for costumer to pay for product as comparing with credit card and cash. Costumer have not to put card or cash in pocket every time as all necessary information is saved in the mobile. That are the factor which drive the growth of the market. Due to E-commerce online payment is increase and online shopping, ordering food that factor fueling the growth of the market. Sometime payment error, risk of phone theft, and difficult to read terms and condition are the factor that may hamper the growth of the market.
Market Segmentation:
Global Mobile Payment Market – By Mode of Transaction
SMS
NFC
WAP
Global Mobile Payment Market – By Application
Entertainment
Energy & Utilities
Healthcare
Retail
Hospitality & Transportation
Others
Global Mobile Payment Market – By Type
Mobile Wallet/Bank Cards
Mobile Money
Global Mobile Payment Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
Asia pacific lead the global mobile payment market, with CAGR of 36.8%. As country like china, japan and India use most mobile payment. According Viva Inc. their company has crossed more than 20 billion contactless card in India, about 40% of transection in India is done by using it, and in Australia 70% of transection are done by using QR transection by visa. In India in 2018, demonetization act brought wise spread about other mode of payment. North America, Latin America and Europe market is also growing with 29.7% CAGR. As they are developed region mobile payment use more there.
Competitive Scenario:
Some of the major key player in the global mobile payment market are Orange S.A., MasterCard Incorporated, Vodacom Group Limited, MTN Group Limited, Bharti Airtel Limited, PayPal Holdings, Inc., Econet Wireless Zimbabwe Limited, Mahindra Comviva, Millicom International Cellular and etc.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Mobile Payment industry, although key threats, opportunities and disruptive technologies that could shape the Global Mobile Payment Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Mobile Payment Market most.
The data analysis present in the Global Mobile Payment Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Mobile Payment Market business.
The 2021 Annual Global Mobile Payment Market offers:
100+ charts exploring and analysing the Global Mobile Payment Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Mobile Payment Market type
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