Mobile Payment Market Size, Share, Analysis, Opportunity, Overview And Forcast 2022-2027

According to IMARC Group's latest report, titled "Mobile Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027", the global mobile payment market size reached US$ 1,786 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 6,007 Billion by 2027, exhibiting at a growth rate ( CAGR) of 22.13% during 2022-2027.

Mobile payment is an e-payment method that involves the use of mobile devices for authorizing, initiating and confirming monetary transactions. These payments are facilitated by mobile applications that are directly linked to the financial credentials of individuals. The use of these solutions ensures enhanced safety while making a payment due to the improved data security offered by these e-payment solutions. Consequently, it finds extensive applications across the retail, food, e-commerce and entertainment sectors.

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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Mobile Payment Market Trends:

The mobile payment market is majorly driven by the widespread penetration of smartphones and continual improvements in the network infrastructure. This has contributed to the escalating requirement for mobile-based payments among individuals. Additionally, the increasing awareness regarding the improved safety of these transactions and the rising integration of mobile payment services with two-factor authentication are also creating a positive outlook for the market. Some of the other factors contributing to the market growth include the widespread preference for contactless payment methods among the masses and the numerous initiatives undertaken by governing bodies to promote digital payments.

Mobile Payment Market 2022-2027 Competitive Analysis and Segmentation:

Competitive Landscape with Key Players:

The competitive landscape of the mobile payment market has also been examined along with the profiles of the key players.

Some of these key players include:

FIS
Gemalto
MasterCard
PayPal
Alipay
Visa
Apple
Google
Samsung Electronics
Bharti Airtel
American Express
Bank of America
Citrus Payment Solutions
LevelUp
MobiKwik
One97 Communication
Orange
Oxigen
Square
Venmo
ZipCash Card Services

Key Market Segmentation:

The report has segmented the global mobile payment market based on mode of transaction, application and region.

Breakup by Mode of Transaction:
WAP (Wireless Application Protocol)
NFC (Near field communications)
SMS (Short Message Service)
USSD (Unstructured Supplementary Service Data)
Others

Breakup by Application:
Entertainment
Energy and Utilities
Healthcare
Retail
Hospitality and Transportation
Others

Breakup by Region:
Asia Pacific
North America
Europe
Middle East and Africa
Latin America

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Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022-2027)
Market Trends
Market Drivers and Success Factors
Impact of COVID-19
Value Chain Analysis
Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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