Sci-Tech

Mobile Payment Market Worth $4,574 Billion,Globally, by 2023 : Allied Market Research

Mobile-Payment-Market
Press Release

The mobile payment market was valued at $601 billion in 2016, and is projected to reach $4,574 billion by 2023, growing at a CAGR of 33.8% from 2017 to 2023. The Asia-Pacific mobile payment industry segment is anticipated to grow at the highest rate during the forecast period.

The Asia-Pacific generated the highest revenue in the mobile payment market in 2016 due to increase in number of youth population that is active on online media in India, growth in m-commerce, and introduction of innovative solutions by the key players in the region. The mobile payment market in LAMEA is expected to grow at the CAGR of 31.4% during the forecast period.

The report features a competitive scenario of the mobile payment industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Orange S.A., Vodacom Group Limited, MasterCard Incorporated, Bharti Airtel Limited, MTN Group Limited, Safaricom Limited, PayPal Holdings, Inc., Econet Wireless Zimbabwe Limited, Millicom International Cellular SA, and Mahindra Comviva. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the mobile payment market.

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SMS segment generated maximum share of revenue in 2016 and is expected to dominate the market throughput the forecast period at the CAGR of 33.5%. Among applications, hospitality & transportation is expected to witness highest CAGR of 34.9% during the forecast period.

Key Benefits for Stakeholders

  • In-depth analysis of the global mobile payment market along with its dynamics is provided to understand the market scenario.
  • Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
  • Porter’s Five Forces analysis examines the competitive structure of the global mobile payment market and provides a clear understanding of the factors that influence the market entry and expansion.
  • A detailed analysis of the geographical segments enables identification of profitable segments for market players.
  • Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report.
  • Detailed analysis of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
  • Profile analysis of leading players that operate in the mobile payment industry are provided in the report, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.

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Mobile Payment Market Key Segments:

Mobile Payment Market by Mode of Transaction

  • Short Message Service (SMS)
  • Near-field Communication (NFC)
  • Wireless Application Protocol (WAP)

Mobile Payment Market by Type of Mobile Payment

  • Mobile Wallet/Bank Cards
  • Mobile Money

Mobile Payment Market by Application

  • Entertainment
  • Energy & Utilities
  • Healthcare
  • Retail
  • Hospitality & Transportation
  • Others

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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This post was originally published on Trading Herald

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