Global Mobile Payment Technologies Market : Key Players, Growth, Analysis 2018 to 2024
The forecast Mobile Payment Technologies Market information is based on the present market situation, growth opportunities, development factors, and opinion of the industry experts. An in-depth analysis of the company profiles, Mobile Payment Technologies on global and regional level and applications is conducted. The analysis of downstream buyers, sales channel, raw materials, and industry verticals is offered in this report.
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Mobile Payment Technology Market: Industry Insight
Mobile payment is referred to a transfer of funds in exchange of goods or services. This payment process is done through smartphone or mobiles and the technology used for completing this task is known as mobile payment technology. The number of users is increasingly adopting mobile payment technology as it is the most efficient way of doing payment for anything. Instead of lading a wallet with cash or credit cards one can easily make payment with the help of smartphones or mobiles.
Mobile Payment Technology Market: Market Insight
Increasing usage of smartphones, tablets, and mobile is driving the growth of mobile payment technology market. Further, this technology helps consumers to make an immediate payment by using mobiles. Along with the availability of the internet, this smart device is becoming more popular among consumers. Owing to the comfort of communication and increasing demand for an appropriate transaction with the help of the internet by consumers around the world helps in the adoption of mobile payment technology. On the other side, the risk of losing the financial detail of the card owner at the time of a transaction is limiting the growth of mobile payment technology market. Besides, government taking initiatives for promoting digital payment is anticipated to generate new opportunities in the upcoming year for mobile payment technology market.
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Mobile Payment Technology Market: Segmentation
The global mobile payment technologies market is divided into purchase type, type, and end-use application. Based on the purchase type the global mobile payment technology is bifurcated into transfers & payments, airtime transfers & top-ups, merchandise and coupons and merchandise and coupons. On the bases of by type, the segment is further categorized into Proximity Payment and Remote Payment. Proximity payment is again divided into Near field Communication (NFC) and QR Code Payment. Whereas, Remote Payment is divided into USSD/STK, Direct operator billing (Credit/debit card-based), Digital wallet and SMS Based. Addition to this NFC segment is expected to drive mobile payment technology market. NFC is a short-range wireless communication technology that exchanges data between devices. NFC helps consumers in making immediate payment with the help of their smart devices and this drives the growth of the market.
Based on endues application the global mobile payment technology is classified into education, it & telecommunication, health care, retail, media & entertainment, BFSI, and hospitality & tourism. Entertainment segment dominated the growth of the market in 2017 and will continue to lead during upcoming years owing to explosion of smartphones, improved consumer connectivity, advancement in social media and quick product innovations have driven the digital entertainment revolution.
Mobile Payment Technology Market: Regional Insight
Among the geographies, Asia Pacific is anticipated to hold the maximum revenue share of the global mobile payment technology market followed by North America. Factors such as increasing acceptance of smart devices such as tablets & smartphones and growth in advance payment solution offered by technology providers drive the growth of the market in the Asia Pacific region. Further, in the North America region increasing adoption of mobile phones in the U.S and growth in e-commerce market boost the growth of mobile payment technology.
Mobile Payment Technology Market: Competitive landscape
The key players in the global mobile payment technology market are Orange S.a, Vodacom Group Limited, MasterCard Incorporated, Bharti Airtel Limited, MTN Group Limited, Safaricom Limited, PayPal Holdings, Millicom International Cellular SA, Mahindra Comviva and Econet Wireless Zimbabwe Limited. In November 2017 Orange launched Orange bank. With the help, of this Orange bank consumer can make variations in the payment card, see the transaction in real time, and unblock & block cards. Further, this Orange Bank also supports Android Pay and Apple Pay.
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Reasons to Buy this Report:
• Comprehensive analysis of global as well as regional markets of the Mobile Payment Technologies.
• Complete coverage of all the product type and applications segments to analyze the trends, developments, and forecast of market size up to 2024.
• Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
• Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.
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