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Mobile Payment Transaction Market 2021 Expected to reach US$ 621 Billion with 31% CAGR Forecast to 2031

01-11-2022 09:12 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Persistence Market Research

/ PR Agency: Persistence Market Research
Mobile Payment Transaction Market 2021-2031

Mobile Payment Transaction Market 2021-2031

Mobile Payment Transaction Market 2021-2031

Persistence Market Research forecasts the global mobile payment transaction market to surge at a CAGR of 31% over the next 10 years and reach US$ 621 Bn in revenue by the end of 2031. The study places the current market worth at US$ 41.7 Bn.

Request for Free Sample Report of “Mobile Payment Transaction” Market @ https://www.persistencemarketresearch.com/samples/12937

Mobile payment is an integrated system linked by various components of value chain which typically includes the merchant, the consumer, the financial institution involved and not to forget the payment gateway and the telecom network.

Market Dynamics

Even though there will be tremendous growth in mobile payment transactions market, there are many challenges that are obstructing the growth of this market. A major challenge is the slow adoption of smartphone compatible POS systems by the retailers.

One of the major concerns is that apart from few countries, consumers haven’t fully accepted the concept of mobile payments, even though the facility is much more secure. However, given the inherent nature of the product, it wouldn’t be long before consumers all over the world use the facilities provided by mobile payments, as per the research report of Persistence Market Research.

Key Players:

The report has profiled some of the Important players prevalent in the global like – PayPal, Visa, MasterCard, Google Wallet, Apple Pay, Samsung Pay, and Alipay and more.

This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Mobile Payment Transaction.                              

Market Forecast

By technology, SMS and WAP/WEB will continue to account for most of the transactions conducted worldwide. Mobile payments conducted through SMS will witness a robust CAGR over the forecast period.

Mobile payments conducted through WAP/WEB is anticipated to witness a stellar CAGR during the forecast period. Money transfer and merchandise purchases account for over 9/10 revenue share of the global mobile payment transaction market on the basis of end-use ‘purpose’.

Money transfer, the largest end-use purpose in the mobile payment transaction market, will grow by over 30%.

The market for mobile payments will continue to be robust in APEJ and Africa, as majority of people there don’t own a credit card, in contrast of the situation in Europe and United States. So, consumers in APEJ and Africa are making a direct shift from using cash to using mobile payments.

Growth in the mobile payments market will be particularly strong in China. This is due to the entry of major market players like Apple and Samsung in the Chinese market, making the competition more fierce and interesting.

Due to a strong showing in China, the market for mobile payment will continue to grow in the Asia Pacific region and this region will be the leading market in the world in terms of volume. However, in terms of value, it is Africa that will maintain its number one position in the mobile payment transaction market.

This is due to the spectacular success of M-Pesa in Kenya and this has influenced consumers and businesses in other regions of Africa to adopt the technology of mobile payments. This has boosted the market of mobile payment transaction market in Africa.

Currently, Africa has nearly 3/10 revenue share of the global mobile payment market, and boasts of a subscriber base of over 100 million. Other than Asia Pacific and Africa, Western Europe and United States are other lucrative regions for mobile payment transaction market the world over.

Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Arabia, South Africa etc.)

Key Stakeholders 
Mobile Payment Transaction Market Manufacturers 
Mobile Payment Transaction Market Distributors/Traders/Wholesalers 
Mobile Payment Transaction Market Subcomponent Manufacturers 
Industry Association 
Downstream Vendors

If you have any special requirements, please let us know and we will offer you the report as you want.

View Table of Content@  https://www.persistencemarketresearch.com/market-research/mobile-payment-transaction-market/toc

Major Highlights of the Mobile Payment Transaction Market Report:

The Mobile Payment Transaction Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.

The report dives deeper into the market and explains the dynamic factors bolstering market growth.

The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.

The report analyzes the Mobile Payment Transaction Market presence across major regions of the world.

It determines the production & consumption capacities and demand & supply dynamics of each regional market.

The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.

It provides company overview and SWOT analysis of each of the market players.

Key Questions Answered in This Report.

What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.

Click Here to Buy this Report@  https://www.persistencemarketresearch.com/checkout/12937

Media Contact:

Persistence Market Research

305 Broadway,7th Floor New York City, NY 10007 United States

Call +1-646-568-7751

Call +1 800-961-0353

sales@persistencemarketresearch.com

About PersistenceMarketResearch:

PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.

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