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Mobile Payment Market 2023 Leading Competitors - Vodacom Group Limited, Bharti Airtel Limited, Orange S.A.
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Mobile Payment Market Size by Type (Proximity Payment and Remote Payment), Technology (Mobile Web Payment, Direct Mobile Billing, Near Field Communication, SMS, Mobile App, Interactive Voice Response System, and Others) End-User Industry (BFSI, Healthcare, IT and Telecommunication, Government, Transportation & Logistics, Retail, Media & Entertainment, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030
Leading companies in the industry include Vodacom Group Limited, Bharti Airtel Limited, Orange S.A., MTN Group Limited, Google, Amazon.com Inc, MasterCard Incorporated, Econet Wireless Zimbabwe Limited, Samsung Electronics Co. Ltd, Alibaba Group Holdings Limited, American Express Company, Millicom International Cellular SA, PayPal Holdings, Inc., WeChat (Tencent Holdings Limited), Apple Inc., and Safaricom Limited, and among others which are offering greater opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The type segment is divided into proximity payment and remote payment. The remote payment type segment led the market with a market share of 57.15 % in 2021. This growth is attributed to the rising merchant efficiency & consumer convenience. The technology segment is divided into mobile web payment, direct mobile billing, near field communication, SMS, mobile app, interactive voice response system, and others. The mobile web payment technology segment led the market with a market share of 23.30 % in 2021. This growth is attributed to the technological advancements that allow more convenient & protected payments. The end-user industry segment is divided into BFSI, healthcare, IT & telecommunication, government, transportation & logistics, retail, media & entertainment, and others. The BFSI end-user industry segment led the market with a market share of 20.51 % in 2021. This growth is attributed to the rapid adoption of IoT solutions.
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The increasing preference for smart machines for various activities such as voice calling propels the mobile payment market's growth. Further, the growing omnipresence of mobile phones and rising penetration of smartphones & mobility are also boosting the growth of the mobile payment market. Moreover, the increasing interment in pioneering payment technology and the rising trend for internet accessibility among end-users through a smartphone is also helping to drive the market growth.
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