Global Mobile Payment Market Report

As per this study the Global Mobile Payment Market was valued USD 50.59 BN (by revenue) in 2021 and is anticipated to reach USD 691.71 BN by 2028 with a CAGR of 45.3%.
 
Mobile payment refers to mode of the financial transaction occurred at point of sales (PoS) by using mobile phones. The payment procedure initiates either by scanning bar code or QR code leading to deduction of the purchase amount in an encrypted format from the bank account linked with the debit/ credit card. It is a safe, convenient and easy mode of transaction widely adopted in banking, logistics, retail, healthcare, entertainment, and etc. industries.
 
Market Dynamics
 
Rising penetration of smart phones coupled with growing demand of safer, user friendly, hassle free and quicker payment procedure is driving the market growth. Rising adoption of IoT and increasing count of tech savvy population is further boosting market growth. In addition to this, shift in customer preference for cashless transactions is again spurring the market growth. However, rising concern for data privacy and increasing cases of data bridging are likely to hamper the market growth.
 
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of mobile payment.
 
Market Segmentation
 
The broad mobile payment market has been sub-grouped into type and end-user. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
 
By Type

• Proximity Payment
  • Near Field Communication {NFC}
  • Smart Cards
  • QR Code
• Remote Payment
  • SMS
  • USSD/STK
  • Mobile Wallet
  • WAP
  • Virtual Prepaid Cards
  • Others
• Mobile Point Of Sales {mPOS}

 
By End-User

• Banking & Financial Sector
• IT & Telecommunication
• Retail
• Life Science {Healthcare}
• Government Service
• Media & Entertainment
• Travel & Hospitality
• Transportation & Logistics
• Others

 
Regional Analysis
 
Furthermore, the report comprises of the geographical segmentation, which mainly focuses on current and forecast demand for mobile payment in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
 
Global Mobile Payment Market Share by Region (Representative Graph)
 

 
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the mobile payment market includes Google (Alphabet Inc.), Alibaba Group Holdings Limited, Amazon.com Inc., Apple Inc., American Express Company, M Pesa, Money Gram International, PayPal Holdings Inc., Samsung Electronics Co. Ltd., Visa Inc., WeChat (Tencent Holdings Limited).  An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.