Mobile Payment Technologies Market: Global Industry Analysis, Trends, Market Size and Forecasts up to 2024
The report on global mobile payment technologies market provides qualitative and quantitative analysis for the period of 2016 to 2024. The report predicts the global mobile payment technologies market to grow with a CAGR of 33.6% over the forecast period of 2018-2024. The study on mobile payment technologies market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific and RoW for the period of 2016 to 2024.
Rapid development in the mobile payment solutions to provide better payment service to the end-users are expected to be the factor driving the growth of the mobile payment technologies market. Growing government led initiatives and increasing adoption of smart appliances are boosting the market. Additionally, with internet available smart devices increasingly becoming common among the population, thus the adoption of immediate payment technologies through mobile applications is rising at an extraordinary way. This in turn is up surging the demand for mobile payment technologies among the consumers. However, the major challenges in the mobile payment technology market are security. Security concerns and risk of loss of critical data using mobile wallets is restraining the adoption of mobile payment solutions. Hence, traditional payment systems continue to remain popular among the senior citizens. As over-the-air transactions occur, payment applications become exposed to hackers looking to misuse customer data.
Moreover, integration of IoT with payment applications is anticipated to provide several opportunities .In addition. Extend payment solution offerings, and develop enhanced payment technologies offers significant growth in the mobile payment technology market. For instance, FinTech leaders are developing Internet-based mobile wallets based on crypto currencies, Bitcoin. On the other hand, fastest payment services across the world are supporting business and customers with real-time bank transfers. This in turn has increased the increased convenience of mobile technologies over the upcoming years.
Among the geographies, Asia pacific generated the highest revenue segment in the mobile payment market owing to the increase in population and the active online media in India as well as growth in e-commerce. Moreover, early acceptance of new technology and advantages of easy and secure money transactions are pacing the growth of the North American market. On the other hand, increasing government initiatives for a cashless economy is favoring mobile payment solutions in India. Moreover, developing countries are using mobile payments for end-to-end transactions but are estimated to utilize its usage for purchase of goods and bill payments.
The report on mobile payment technologies market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global mobile payment technologies market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings.
Porter's five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market and opportunities for the new entrants in the global mobile payment technologies market over the period of 2016 to 2024. Further, IGR- Growth Matrix given in the report brings an insight on the investment areas that existing or new market players can consider.
A) Primary Research
Our primary research involves extensive interviews and analysis of the opinions provided by the primary respondents. The primary research starts with identifying and approaching the primary respondents, the primary respondents are approached through
1. Key Opinion Leaders associated with Infinium Global Research
2. Internal and External subject matter experts
3. Professionals and participants from LinkedIn, Hoovers, Factiva and Bloggers
Our primary research respondents typically include
1. Executives working with leading companies in the market under review
2. Product/brand/marketing managers
3. CXO level executives
4. Regional/zonal/ country managers
5. Vice President level executives.
B) Secondary Research
Secondary research involves extensive exploring through the secondary sources of information available in both public domain and paid sources. At Infinium Global Research, each research study is based on over 500 hours of secondary research accompanied by primary research. The information obtained through the secondary sources is validated through the crosscheck on various data sources.
The secondary sources of the data typically include
1. Company reports and publications
2. Government/institutional publications
3. Trade and associations journals
4. Databases such as WTO, OECD, World Bank, and among others.
5. Websites and publications by research agencies
The global mobile payment technologies market is segmented on the basis of purchase type, type and end-use application.
Global Mobile Payment Technologies Market by Purchase Type
Money Transfers & Payments
Airtime Transfers & Top-ups
Merchandise And Coupons
Merchandise And Coupons
Global Mobile Payment Technologies Market by Type
Global Mobile Payment Technologies Market by End-use Application
IT & Telecommunication
Media & Entertainment
Hospitality & Tourism
Vodacom Group Limited,
Bharti Airtel Limited
MTN Group Limited
Millicom International Cellular SA
Econet Wireless Zimbabwe Limited
How this report delivers?
1. Comprehensive analysis of global as well as regional markets of mobile payment technologies market.
2. Complete coverage of all the segments in mobile payment technologies market to analyze the trends, developments in the global market and forecast of market size up to 2024.
3. Comprehensive analysis of the companies operating in global mobile payment technologies market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and latest developments of the company.
4. IGR- Growth Matrix presents analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
The report on mobile payment technologies market is a comprehensive study and presentation of drivers, restraints, opportunities, demand factors, market size, forecasts, and trends in the global mobile payment technologies market over the period of 2016 to 2024. Moreover, the report is collective presentation of primary and secondary research findings
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