A recent market intelligence report that is published by Data Insights Partner on the global Mobile Payment Transaction Service Market makes an offering of in-depth analysis of segments and sub-segments in the regional and international Mobile Payment Transaction Service Market. The research also emphasizes on the impact of restraints, drivers, and macro indicators on the regional and global Mobile Payment Transaction Service Market over the short as well as long period of time. A detailed presentation of forecast, trends, and dollar values of global Mobile Payment Transaction Service Market is offered. In accordance with the report, the global Mobile Payment Transaction Service Market is projected to expand at a CAGR of 12.30% over the period of forecast.
Market Insight, Drivers, Restraints& Opportunity of the Market:
A money transaction that is done through mobile phones is known as a mobile payment. It enables to undertake transactions remotely, thereby substituting cash based transactions.
With the increase of number of smartphone users, availability of high speed mobile data globally, and consumers demand for advanced technologies for performing transactions by easing the payment through such devices are the key factors for the growth of global mobile payment transaction service market in the forecast period. There has also been a tremendous rise in adoption of mobile phone services in financial institutes and other vendors which is also anticipated to increase the demand of this market. Apple Phones introduced its Apple pay services to over 2 million retails stores, which further proves the acceptance of mobile payments by merchants. Owing to its hassle free and cashless medium of payment, the global mobile payment transaction service market has enormous growth potential. Many benefits like cash back offers, reward cards and discounts have attracted customers to adopt such technologies. Growing e-commerce business and digitalization of payment services are also creating demand for mobile payments.
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However, the major challenges faced by the global mobile transaction service market is the data privacy and security threats associated with transactions through smartphones. Also, there is a lack of awareness or unwillingness to adopt such systems in a few section of society that will further hamper the growth of this market in the forecast period.
Due to increase in internet penetration in different countries, Asia Pacific accounted for the largest market share and is also expected to dominate this market in the forecast period. Rising integration and implementation of artificial intelligence in mobile payment for better customer experience and secured mobile transactions are opportunities for growth of mobile payment transaction service market during the forecast period.
However, with the sudden outbreak of Covid-19, many segments of society have been affected due to flight cancellations, travel bans, lockdowns, quarantines, closure of restaurants, thereby leading to a massive slowdown of the supply chain. Due to closure of all the places, where mobile payments were largely used, the demand of mobile payment transaction service market is expected to decline.
Segment Covered:
This market intelligence report on the global Mobile Payment Transaction Service Market encompasses market segments based on mode of transaction, product type, application and country/regions.
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In terms of mode of transaction, the global Mobile Payment Transaction Service Market is segregated into :
- Wireless Application Protocol (WAP)
- Short Messaging Services (SMS)
- Near Field Communication (NFC)
By type, the global Mobile Payment Transaction Service Market is also classified into :
- Mobile Money
- Mobile Wallets
- Bank Cards
- Others
By applications, the global Mobile Payment Transaction Service Market is also classified into :
- Energy & Utilities
- Entertainment
- Healthcare
- Hospitality
- Transportation
- Others
By country/region, the global Mobile Payment Transaction Service Market has been divided into :
- North America (the U.S., Canada),
- Latin America (Brazil, Mexico, Argentina and other countries),
- Europe (Germany, France, the U.K., Spain, Italy, Russia, and other countries),
- Asia Pacific (India, Japan, China, Australia and New Zealand and other countries),
- Middle East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market Players:
This business intelligence report offers profiling of reputed companies that are operating in the market. Companies such as
- Vodacom Group Limited
- Orange S.A.
- Mastercard Incorporated
- Visa Inc.
- Skrill Limited
- Worldpay
- Level Up
- MTN Group Limited
- Bharti Airtel Limited
- Safaricom Limited
- Econet Wireless
- Paypal Holdings Inc.
- Mahindra Comviva
- Milicom International Cellular SA
- One97 Communications Ltd
- Google Inc. (Google Wallet)
- TIO Networks Corporation
- Apple Pay and many more
Others players have been profiled into detail so as to offer a glimpse of the market leaders. Moreover, parameters such as Mobile Payment Transaction Service related investment & spending and developments by major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market trends, and forecasts of demand is offered by this business intelligence report. Furthermore, the report offers a vivid picture of the factors that are steering and restraining the growth of this market across all geographical segments. In addition to that, Growth Matrix analysis is also provided in the report so as to share insight of the investment areas that new or existing market players can take into consideration. Various analytical tools such as DRO analysis, Porter’s five forces analysis has been used in this report to present a clear picture of the market. The study focuses on the present market trends and provides market forecast from the year 2020-2028. Emerging trends that would shape the market demand in the years to come have been highlighted in this report. A competitive analysis in each of the geographical segments gives an insight into market share of the global players.
Salient Features:
- This study offers comprehensive yet detailed analysis of the Mobile Payment Transaction Service Market, size of the market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of forecast: 2020 – 2028, taking into account 2019 as the base year
- It explains upcoming revenue opportunities across various market segments and attractive matrix of investment proposition for the said market
- This market intelligence report also offers pivotal insights about various market opportunities, restraints, drivers, launch of new products, competitive market strategies of leading market players, emerging market trends, and regional outlook
- Profiling of key market players in the world Mobile Payment Transaction Service Market is done by taking into account various parameters such as company strategies, distribution strategies, product portfolio, financial performance, key developments, geographical presence, and company overview
- Leading market players covered this report comprise names such as Mastercard, Apple Pay, Paypal Holdings, Bharti Airtel, Google Wallet and many more.
- The data of this report would allow management authorities and marketers of companies alike to take informed decision when it comes to launch of products, government initiatives, marketing tactics and expansion, and technical up gradation
- The world market for Mobile Payment Transaction Service Market caters to the needs of various stakeholders pertaining to this industry, namely suppliers, manufacturers, investors, and distributors for Mobile Payment Transaction Service Market. The research also caters to the rising needs of consulting and research firms, financial analysts, and new market entrants
- Research methodologies that have been adopted for the purpose of this study have been clearly elaborated so as to facilitate better understanding of the reports
- Reports have been made based on the guidelines as mandated by General Data Protection Regulation
- Ample number of examples and case studies have been taken into consideration before coming to a conclusion
Reasons to buy:
- Identify opportunities and plan strategies by having a strong understanding of the investment opportunities in the Mobile Payment Transaction Service Market
- Identification of key factors driving investment opportunities in the Mobile Payment Transaction Service Market
- Facilitate decision-making based on strong historic and forecast data
- Position yourself to gain the maximum advantage of the industry’s growth potential
- Develop strategies based on the latest regulatory events
- Identify key partners and business development avenues
- Respond to your competitors’ business structure, strategy and prospects
- Identify key strengths and weaknesses of important market participants
