Press release
Asia-Pacific Mobile Payments Market Latest Trends, Designs, Demand and Business Outlook 2022 to 2027
The Asia-Pacific Mobile Payments Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the Asia-Pacific Mobile Payments Market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the Asia-Pacific Mobile Payments Market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the Asia-Pacific Mobile Payments Market.Asia-Pacific Mobile Payments market was valued at USD 559.29 billion in 2019 and is expected to reach USD 2074.32 billion by 2027, registering a CAGR of 23.91 % over the forecast period (2022-2027).
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Top Leading Companies of Asia-Pacific Mobile Payments Market are - Google LLC, Samsung Group, Amazon.com Inc, Paypal Inc, Mastercard PLC, Visa Inc, American Express Co., Comviva Technologies Limited (A Tech Mahindra Company), WeChat (Tencent Holdings Limited), Alipay.com Co. Ltd (Ant Financial) and others.
Industry News and Updates:
- April 2022 - South Korean retail company, Shinsegae Group, enhanced its mobile payment service, SSGPay, by adding banking service. This will enable the customers to run different tasks in different banks in the platform. This will also help the company improve the customers in South Korea to order essentials online using their website, without facing payment issues, during the coronavirus crisis.
- January 2022 - Tencent collaborated with the government-owned company, UnionPay, and combined a part of its authentication software with it. This collaboration is expected to expand UnionPayÕs market penetration in the Chinese market and further support the Chinese government initiative for same-sector partnership.
- January 2022 - Paytm launched QR Code System to accelerate multi-platform payments and enable retailers to accept payments from diverse sources, including mobile wallets, as well as by UPI. The company also recently raised USD 1 billion in funding.
Key Market Trends:
China to Occupy Significant Market Share
- Chinese customers have been the fastest adopters of online retail, financial, and on-demand services, and predominantly use mobile payments, due to its superior convenience.
- Due to the increasing prominence and ease of mobile payments, the number of mobile payment users in China increased from 527 million in 2017 to 583 million in 2018, according to data released by China Internet Network Information Center. According to the People's Bank of China, in 2018, the total transaction value of mobile payments increased to CNY 277.39 trillion, with an approximately 37% increase from the previous year.
India to be the Fastest Growing Adopters of Mobile Payments
- The Indian market has historically been dominated by cash, is rapidly evolving to meet the demands of digital payment culture, as a result of an increase of e-commerce and m-commerce culture, and cards and digital wallets rising in prominence. With the growth of various digital wallet companies in India, mobile payment is expected to increase.
- According to the Internet World Stats, India ranks second when it comes to the number of internet users globally. It comprises of approximately 560 million internet users in India, in 2019. This can be attributed to the availability of cheap smartphones, enhanced connectivity, and affordable services
Investigator Observers Strong Growth in Specific Regions:
- Europe Market (Germany, UK, France, Russia, Italy)
- Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
- South America Market (Brazil, Argentina, Colombia)
- North America Market (United States, Canada, Mexico)
- Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- Asia-Pacific Mobile Payments Market Size & Analysis (2016 - 2026)
- Market Share Analysis of Asia-Pacific Mobile Payments Market (%),2016 - 2026
- Asia-Pacific Mobile Payments Market Share, By Brand
- Asia-Pacific Mobile Payments Market Share, By Company
- Asia-Pacific Mobile Payments Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies Asia-Pacific Mobile Payments Market Value Analysis & Forecast
- Promising Asia-Pacific Mobile Payments Market Development by Major Companies
- Detailed Asia-Pacific Mobile Payments Market Portfolio of the Major Companies
- Major Deals in the Asia-Pacific Mobile Payments Market
- Major Companies Analysis
Browse Full Report at:
https://www.marketinsightsreports.com/reports/02285842502/asia-pacific-mobile-payments-market-growth-trends-and-forecast-2022-2027?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) - Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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