onsumer Mobile Payments market is projected to grow from US$ 1480890 million in 2023 to US$ 6331970 million by 2029, at a Compound Annual Growth Rate (CAGR) of 27.4% - valuates Reports

The global Consumer Mobile Payments market is projected to grow from US$ 1480890 million in 2023 to US$ 6331970 million by 2029, at a Compound Annual Growth Rate (CAGR) of 27.4% during the forecast period.

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E-commerce is well and truly here to stay and has revolutionized the retail industry. E-commerce has essentially transformed the world into one big global village, allowing companies to reach customers in far-flung areas. The developing world in particular is predicted to be 'mobile-first' or even 'mobile-only', and smartphone sales have already eclipsed that of traditional PCs. The comfort and convenience provided by mobile e-commerce is unparalleled and it aims to cater to the demand for niche products as well as traditional ones. Any company that chooses to ignore the mobile e-commerce movement does so at its own peril. The smartphone explosion has led to mobile wallets and contactless payments being adopted slowly but surely. Developing countries are leading the way when it comes to becoming cashless and they have taken to the mobile phone to transfer funds like no other device. A few of the factors responsible for widespread adoption of mobile payments include efficiency, cost-effectiveness, usability, transaction security and interoperability. Even though credit and debit cards currently enjoy a higher rate of usage, the advent of mobile payment Apps and other contactless payments should ensure that they become the go-to-solution for all kinds of payment needs in the future.
Market Analysis and Insights: Global Consumer Mobile Payments Market
As retailers install new payment terminals to enable contactless payment, this will go a long way in solving logistical constraints. With the introduction of Apple Pay, Samsung Pay and Android Pay, the millennial generation is at the forefront of adopting new technology by embracing mobile payments. With this seismic shift in payment methods, it is logical to assume that even older generations will follow millennials and take to mobile payments in retail. Adopting and enabling mobile payments allows companies to invest in newer technology that is far more user-friendly and intuitive. Consumers would also be happy to use these services that would make their daily lives immeasurably easier. A smartphone is a gadget that is more of a necessity than a luxury in the 21st century and companies have not been blind to this. They are well-aware that their customers are using their mobile for anything and everything and therefore, mobile payments would be the next logical step in the journey towards a cashless economy. Mobile contactless payments are quickly becoming the new normal method to pay retailers as the need to visit an ATM to withdraw cash is eliminated.
Report Includes
This report presents an overview of global market for Consumer Mobile Payments market size. Analyses of the global market trends, with historic market revenue data for 2018 - 2022, estimates for 2023, and projections of CAGR through 2029.
This report researches the key producers of Consumer Mobile Payments, also provides the revenue of main regions and countries. Highlights of the upcoming market potential for Consumer Mobile Payments, and key regions/countries of focus to forecast this market into various segments and sub-segments. Country specific data and market value analysis for the U.S., Canada, Mexico, Brazil, China, Japan, South Korea, Southeast Asia, India, Germany, the U.K., Italy, Middle East, Africa, and Other Countries.
This report focuses on the Consumer Mobile Payments revenue, market share and industry ranking of main companies, data from 2018 to 2023. Identification of the major stakeholders in the global Consumer Mobile Payments market, and analysis of their competitive landscape and market positioning based on recent developments and segmental revenues. This report will help stakeholders to understand the competitive landscape and gain more insights and position their businesses and market strategies in a better way.
This report analyzes the segments data by type and by application, revenue, and growth rate, from 2018 to 2029. Evaluation and forecast the market size for Consumer Mobile Payments revenue, projected growth trends, production technology, application and end-user industry.
Descriptive company profiles of the major global players, including ACI Worldwide, Alphabet, Samsung Electronics, DH, Fidelity National Information Services, Fiserv, Jack Henry & Associates, MasterCard and PayPal Holdings, etc.

Segment by Type
Remote
Proximity

Segment by Application
Retail
Hospitality & Tourism
IT & Telecommunication
BFSI
Media & Entertainment
Healthcare
Airline
Others

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