M-commerce Payment Market to Show High Growth on Account of Rise of Contactless Payments and Expanding Smartphone Penetration

Market Scope & Overview:

The SNS Insider report states that the m-commerce payment market reached a value of USD 11.80 billion in 2022. It is projected to reach USD 58.69 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 22.2% during the forecast period of 2023-2030.

M-commerce payment, also known as mobile commerce payment or mobile payment, refers to the process of making financial transactions through mobile devices. It involves using mobile applications or other mobile technologies to authorize, authenticate, and complete payments for goods and services.

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Key players included are:

• ACI Worldwide
• Alphabet
• Apple
• FIS
• Fiserv
• Ingenico
• Mastercard
• PayPal Holdings
• Square
• Visa
• Others

Market Analysis:

Artificial intelligence (AI) and voice assistants are reshaping the m-commerce payment market. Integrating AI algorithms into mobile payment systems enables personalized recommendations, streamlined transactions, and enhanced user experiences. Voice assistants like Siri, Google Assistant, and Alexa are also being integrated into m-commerce payment apps, simplifying the payment process and driving convenience. The global nature of m-commerce allows for seamless cross-border transactions, creating opportunities for international trade and e-commerce.

Impact of Recession:

A recession can pose challenges to the m-commerce payment market, primarily due to reduced consumer spending and shifting behaviors. However, businesses that prioritize value, convenience, and customer-centric approaches have the opportunity to navigate these challenges and even thrive. By understanding and responding to the evolving needs of consumers during an economic downturn, m-commerce payment providers can position themselves for long-term success in an increasingly competitive landscape.

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Segmentation Analysis:

Mobile Web Payments and M-Retailing are two segments poised to dominate the m-commerce payment market. Their convenience, security, and tailored user experiences have contributed to their widespread adoption and acceptance by consumers. As mobile devices continue to play an integral role in our daily lives, businesses must prioritize these segments to stay competitive and meet the evolving expectations of mobile-savvy customers. By leveraging the potential of Mobile Web Payments and M-Retailing, stakeholders in the m-commerce ecosystem can drive growth and unlock new opportunities in the digital commerce landscape.

Segmentation and Sub-Segmentation included are:

On The Basis of Payment Method
• Mobile Web Payments
• Near-field Communication
• SMS/Direct Carrier Billing
• Others

On The Basis of Transaction Type
• M-retailing
• M-ticketing
• M-billing
• Others

On The Basis of Application
• Personal
• 18 to 30 Year
• 31 to 54 Year
• 55 to 73 Year
• Business

Regional Status & Analysis:

With its favorable market conditions, technological advancements, and a growing base of tech-savvy consumers, Asia Pacific is well-positioned to dominate the m-commerce payment market. As the region continues to witness rapid digital transformation, businesses must adapt to this evolving landscape, embracing secure and user-friendly mobile payment solutions. With strategic investments, innovative approaches, and collaborative efforts, Asia Pacific's dominance in m-commerce payments is set to strengthen further, shaping the future of global commerce.

Conclusion:

The future of the market looks promising, driven by expanding smartphone penetration, improved security measures, the rise of contactless payments, and integration with AI and voice assistants, cross-border transactions, IoT integration, and ongoing innovation.

Frequently Asked Questions:

• What is the projected outlook for m-commerce payment market growth?
- The global market is projected to reach a valuation of USD 58.69 billion by the year 2030.

• What are the major factors influencing the m-commerce payment market?
- As the world becomes increasingly digital, m-commerce payments will continue to redefine the way we transact, providing convenient and secure payment solutions at our fingertips.

• Who are the leading players in the m-commerce payment market?
- ACI Worldwide, Inc., FIS, PayPal Holdings, Inc., Fiserv, Inc., Ingenico, Alphabet Inc. (Google), Apple Inc., Mastercard, Square, Inc., Visa, Inc.

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Table of Contents - Major Key Points:

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.3. Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. M-commerce Payment Market Segmentation, by Payment Method
9. M-commerce Payment Market Segmentation, by Transaction Type
10. M-commerce Payment Market Segmentation, by Application
11. Regional Analysis
12. Company Profiles
13. Competitive Landscape
14. Conclusion

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