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Global Mobile Payment Market, 2020-2028 - Market is Anticipated to Witness a CAGR of Over 25%

Research and Markets
·5-min read

Dublin, Oct. 16, 2020 (GLOBE NEWSWIRE) -- The "Mobile Payment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2020 To 2028" report has been added to ResearchAndMarkets.com's offering.

The global mobile payment market is anticipated to witness a CAGR of over 25% from 2020 to 2028

Financial institutions and banks are increasingly shifting towards financial technologies to enhance customer overall experience by offering mobile payment services. This, in turn, is increasing the uptake of mobile payment solutions and services across the globe.

Also, rising mobile broadband penetration and the proliferation of smartphones in developing regions such as Asia Pacific, Africa, and Latin America supporting the growth of the mobile payment market. However, the threat associated with data privacy and security and lack of awareness financial organizations is expected to hamper the growth of the market over the forecast period to some extent.

Major players operating in the global mobile payment market are following the strategy of entering a strategic partnership to integrate advanced technologies into their offerings. Also, key players are concentrating on acquiring other players to enhance their existing solutions portfolio.

Among application segments, the money transfer segment is projected to hold a major chunk of overall mobile payment market revenue share over the forecast period. In 2019, the segment accounted for over 30% of the overall market share. The increasing introduction of mobile banking and money transfer apps by banks and financial institutions is boosting segment growth. However, the merchandise purchase is expected to emerge as one of the fastest-growing segments due to increasing e-commerce activities across the globe.

By the end of 2028, Asia Pacific is projected to emerge as an attractive regional market for mobile payment solutions and service providers. The increasing number of mobile payment transactions supplemented by the proliferation of smartphones in the region is fueling the growth of the market.

The mobile payment market in the Middle East and Africa is anticipated to expand at the highest CAGR of over 35% during the forecast period, from 2020 to 2028. The introduction of favorable government initiatives and support to introduce mobile payment programs is increasing the uptake of mobile payment technologies in the region.

Key Topics Covered:

1. Preface

2. Executive Summary

3. Global Mobile Payment Market Analysis
3.1. Mobile Payment Market Overview
3.2. Market Inclination Insights
3.2.1. Recent Trends
3.2.2. Future Outlook
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Challenges
3.4. Competitive Landscape
3.4.1. Market Positioning of Key Industry Participants
3.4.2. Major Strategies Adopted
3.4.3. Analyst Recommendations

4. Global Mobile Payment Market Revenue, By Technology, 2018 - 2028 (US$ Mn)
4.1. Comparative Analysis
4.1.1. WAP/WEB-based
4.1.2. SMS
4.1.3. Unstructured Supplementary Service Data (USSD)
4.1.4. Near-field Communication (NFC)

5. Global Mobile Payment Market Revenue, By Application, 2018 - 2028 (US$ Mn)
5.1. Comparative Analysis
5.1.1. Merchandise Purchase
5.1.2. Money Transfer
5.1.3. Ticketing
5.1.4. Bill Payment
5.1.5. Other Applications

6. Global Mobile Payment Market Revenue, By Geography, 2018 - 2028 (US$ Mn)
6.1. Comparative Analysis
6.1.1. North America
6.1.2. Europe
6.1.3. Asia Pacific
6.1.4. Rest of World

7. Global Mobile Payment User Base, By Geography, 2018 - 2028 (Thousand)
7.1. Comparative Analysis
7.1.1. North America Mobile Payment User Base
7.1.2. Europe Mobile Payment User Base
7.1.3. Asia Pacific Mobile Payment User Base
7.1.4. Rest of World Mobile Payment User Base

8. North America Mobile Payment Market Analysis, 2018 - 2028 (US$ Mn)
8.1. North America Mobile Payment Market Revenue, By Technology, 2018 - 2028 (US$ Mn)
8.1.1. WAP/WEB-based
8.1.2. SMS
8.1.3. Unstructured Supplementary Service Data (USSD)
8.1.4. Near-field Communication (NFC)
8.2. North America Mobile Payment Market Revenue, By Application, 2018 - 2028 (US$ Mn)
8.2.1. Merchandise Purchase
8.2.2. Money Transfer
8.2.3. Ticketing
8.2.4. Bill Payment
8.2.5. Other Applications
8.3. North America Mobile Payment Market Revenue, By Country, 2018 - 2028 (US$ Mn)
8.3.1. U.S.
8.3.1.1. U.S. Mobile Payment Market Revenue, By Technology, 2018 - 2028 (US$ Mn)
8.3.1.2. U.S. Mobile Payment Market Revenue, By Application, 2018 - 2028 (US$ Mn)
8.3.2. Canada
8.3.2.1. Canada Mobile Payment Market Revenue, By Technology, 2018 - 2028 (US$ Mn)
8.3.2.2. Canada Mobile Payment Market Revenue, By Application, 2018 - 2028 (US$ Mn)

9. Europe Mobile Payment Market Analysis, 2018 - 2028 (US$ Mn)

10. Asia Pacific Mobile Payment Market Analysis, 2018 - 2028 (US$ Mn)

11. Rest of World Mobile Payment Market Analysis, 2018 - 2028 (US$ Mn)

12. Company Profiles
12.1. MasterCard Inc.
12.2. Google Inc.
12.3. Apple Inc.
12.4. LevelUp
12.5. Skrill Limited
12.6. Paypal Inc.
12.7. Visa Inc.
12.8. WorldPay
12.9. Samsung Electronics Co. Ltd.
12.10. TIO Networks Corp.

For more information about this report visit https://www.researchandmarkets.com/r/n5qklr

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