The Mobile Payments Market size is expected to grow at a CAGR of 33.8% during the forecast period, to reach USD 19,756.89 Billion by 2028 from USD 2,573.51 Billion in 2021.
Mobile
payment enables instant money
transfer and a secured substitute for cash-based transactions to the customers.
The increasing availability of high-speed mobile networks along with the
increasing penetration of smartphones is boosting the adoption of mobile-based
payment solutions. The digitalization of payment services and growing
e-commerce businesses are contributing to the growing market trends. The digital
generation, i.e. generation , is likely to create vast opportunities for the
payment industry. The companies are offering rewards, redeem points, loyalty
points, and among others to attract the customer for paying through mobile
devices.
Mobile Payments Market - Size, Competitive
Landscape and Segmentation Analysis:
The
coronavirus COVID-19 has impacted the global economy and humans significantly.
It has drastically changed the channels and modes of transactions done by
consumers and merchants. Today, people are more cautious about transacting in
cash while shopping in public places. This has triggered a sudden spike in
demand for contactless payment methods such as mobile wallets, NFC, QR code and
more. In March 2020, the World Health Organization (WHO) recommended the
consumers across the globe to adopt a contactless payment mode. This has helped
to raise the payment transaction using mobile and boosted the contactless
payments modes such as QR code, tap to pay by near field payment NFC, and
carrier billing payment, among others.
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The Top Key Players
covered in the Mobile Payments market report is:
·
Apple
Inc.
·
Google
LLC
·
American
Express Company
·
JP Morgan
Chase & Co
·
Paypal
Holdings
·
PayU
·
Samsung
·
Visa
·
Mastercard
·
One97
Communications Limited
·
Others
Segmentation of Mobile Payments Market
Market Segmentation Analysis By Type:
·
Remote
·
Proximity
Market
Segmentation Analysis By
Transaction Mode:
·
Personal
·
Business
Market
Segment by Regions and Countries Level Analysis:
·
North America (U.S., Canada, Mexico)
·
Europe (Germany, U.K., France, Italy, Russia, Spain,
Rest of Europe)
·
Asia-Pacific (China, India, Japan, Southeast Asia,
Rest of APAC)
·
Middle East & Africa (GCC Countries, South
Africa, Rest of MEA)
·
South America (Brazil, Argentina, Rest of South
America)
Covid-19
Impact and Recovery Analysis on Industry:
We've
kept track of Covid-19's direct impact on this market as well as its indirect
impact on other industries. During the analysis period, the impact of the
Covid-19 pandemic on the market is predicted to be significant. From a
worldwide and regional viewpoint, this report examines the influence of the
pandemic on the Mobile Payments industry. The study categorizes the Mobile
Payments industry by type, application, and consumer sector to determine market
size, market features, and market growth. It also includes a thorough
examination of the factors that influenced market development before and after
the Covid-19 pandemic. In addition, the research did a pest analysis in the
sector to investigate major influencers and entrance obstacles.
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Market Scope:
The "Global Mobile
Payments Market Analysis To 2028" is a specialized and in-depth study
of the Mobile Payments industry with a special focus on the global market trend
analysis. The report aims to provide an overview Mobile Payments market with
detailed market segmentation by type, component, end-users, and geography. The
global Mobile Payments market is expected to witness high growth during the
forecast period. The report provides key statistics on the market status of the
Mobile Payments market players and offers key trends and opportunities in Mobile
Payments market.
The
goal of the research report is to help develop business strategies that help
meet the needs of end-user consumers and penetrate deeply into the market. Mobile
Payments market research also discusses significant market events that could
have a positive or negative impact on the participants. It covers product
offerings, revenue analysis, production capabilities, gross margins and many
other important aspects that affect a company's profitability in the
marketplace.
Points
Covered in The Mobile Payments Report
·
The
points that are discussed within the report are the major market players that
are involved in the market such as market players, raw material suppliers,
equipment suppliers, end users, traders, distributors and etc.
·
The
complete profile of the companies is mentioned. And the capacity, production,
price, revenue, cost, gross, gross margin, sales volume, sales revenue,
consumption, growth rate, import, export, supply, future strategies, and the
technological developments that they are making are also included within the
report.
·
The
growth factors of the market are discussed in detail wherein the different end
users of the market are explained in detail.
·
Data
and information by market player, by region, by type, by application and etc.,
and custom research can be added according to specific requirements.
·
The
report contains the SWOT analysis of the market. Finally, the report contains
the conclusion part where the opinions of the industrial experts are included.
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