Mobile Payment Market Overview
In a world where technology can be used for multiple exchanges, the use of mobile phones is no longer limited to simple voice communication functions. Mobiles are now providing access to a growing number of services. Mobile payment or M-payment is a service which is continually gaining in popularity as there are huge number of mobile phone users and bank card holders. This service therefore has great potential as new economic market brings; together disconnected banking and telecom sectors.
The number of mobile payment subscribers worldwide was nearly 2 Billion users in 2011. The total value of mobile payment market is expected to cross US$ 500 Billion by 2014. North America and Asia is expected to become the most important markets; together both of them accounting for more than 60% of the total market share and 80% of mobile payment users.
In North American region, United State is expected to dominate the mobile payment market volume with more than US$ 200 Billion by 2015. In Asian region Japan will lead the mobile payment market due to higher per capita income. It will be followed by South Korea, China and India in the 2nd 3rd and 4th position respectively. In Latin America Brazil holds the mobile payment market with 90% market share in 2011. Western Europe mobile payment market is forecasted to grow with a CAGR of 68.17% with the spanning period of 2011 – 2015.
But, in terms of mobile payment users, China is the leader in Asian market. China is expecting to have nearly ten times more mobile payment users than Japan. India and Eastern Europe & Middle East & Africa are expected to have more than 100 Million and 150 Million mobile payment users by 2015.
In mobile payment methods, NFC based mobile payment market is growing tremendously. NFC based mobile payment market is likely to grow with a CAGR of 118% in the spanning period of 2011-2015. Mobile Ticketing is expected to capture around 40% share of the total mobile payment market by 2014. The premium SMS market share is predicted to decline due to consumer trend moving towards NFC enabled technology.
Renub Research report entitled “Mobile Payment Market, Users Worldwide & Countries Forecast to 2014” provides a comprehensive assessment of the fast-evolving, high-growth mobile payments space. We recommend this report as must-read insight for mobile commerce stakeholders the world over.
The report covers the following points
- Studied growth forecasts and worldwide mobile payment market sizing from (2011 to 2014)
- Analysed growth forecast and worldwide mobile payment users from (2011 to 2014)
- Worldwide mobile payment market share and users share from (2011 to 2014)
- Digest regional (North America, Latin America, Asia, Western Europe, Central and Eastern Europe, Middle East & Africa) mobile payment market Share and users share (2010 – 2014)
- Country-level mobile payment market and users analysis (2009 – 2014)
- Explore and identify opportunities in the exciting m-payments market
- Analyse data forecasts and commentary on NFC-capable Handsets; NFC Payment Market; Mobile Ticketing Users - and Market; Mobile Money Transfer Market and Users (2011 – 2014)
- Understand the drivers and inhibitors within the m-payments ecosystem
- Review regional trends and key developments region wise
- Learn more about key players like Google – Google Wallet, E-Bay – PayPal, ISIS, Visa - Visa Wallet, American Express – Serve
Key Players Analysis
This section covers the key facts about the major companies that play an important role in Mobile Payment Market. The companies analyzed in this section are as follows: Google – Google Wallet, E-Bay – PayPal, ISIS, Visa - Visa Wallet, American Express – Serve. All the companies have been analyzed from three headings
1) Companies Initiative or Strategy Mobile Payment Industry
2) Strength of the company in mobile payment industry
3) Weakness of the company in mobile payment industry
This report is built using data and information sourced from proprietary databases, primary and secondary research and in-house analysis by Renub Research team of industry experts.
Primary sources include industry surveys and telephone interviews with industry experts.
Secondary sources information and data has been collected from various printable and non-printable sources like search engines, News websites, Government Websites, Trade Journals, White papers, Government Agencies, Magazines, Newspapers, Trade associations, Books, Industry Portals, Industry Associations and access to more than 100 paid databases.