Global Mobile Payment Market 2017-2021

Overview of the global mobile payment market

Research analysis on the global mobile payment market identifies that the need for immediate transactions will be one of the major factors that will have a positive impact on the growth of the market. Technavio’s market research analysts predict that this market will grow at a CAGR of 36% by 2021. The requirement for immediate payments is driving the demand for mobile payment options. Payment methods are growing with the changing attitudes of customers and the technological developments. The wide popularity of smartphones along with the availability of the Internet, is providing a wide range of services with continual and immediate access. Moreover, faster payment services across the world are supporting businesses and customers with real-time bank transfers. This increased convenience of mobile technologies has encouraged many banks in the ASEAN region and APAC to implement immediate payment services.

In terms of geographic regions, APAC will be the major revenue contributor to the mobile payment market throughout the forecast period. The growth of the m-commerce market and large customer base for smartphones and tablets will drive the growth of the mobile payment gateway market in the region.

Competitive landscape and key vendors  

The mobile payment market is highly competitive and the market players focus on developing innovative products. The rise in service extensions will increase the competition among the players. To gain large market shares, the vendors increasingly focus on engaging in mergers and acquisitions.

The leading vendors in the market are -

• FIS
• Gemalto
• MasterCard
• PayPal
• Alibaba Group
• Apple
• Google
• Samsung Electronics

The other prominent vendors in the market are Bharti Airtel, American Express, Bank of America, Citrus Payment Solutions, LevelUp, MobiKwik, One97 Communication, Orange, Oxigen, Square, Venmo, Visa, and ZipCash Card Services.

Segmentation by mode of transaction and analysis of the mobile payment market

• NFC
• SMS
• Direct carrier
• WAP

During 2016, WAP segment accounted for the major shares of the mobile payment market. However, the NFC mode of transaction will hold the largest market share by the end of the forecast period owing to its adavantages such as secure payments and its increased popularity.

Segmentation by type of payment and analysis of the mobile payment market

• Mobile wallet
• Mobile money

According to this market research report, the mobile wallet segment will hold the maximum share of the mobile payment market until 2021. The ease of usage and the ability to store health information cards, loyalty cards, as well as bus and train tickets of the users, will drive the growth of this segment in the mobile payment systems market.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global mobile payment market?
• What are the key market trends impacting the growth of the global mobile payment market?
• What are the challenges to market growth?
• Who are the key vendors in the global mobile payment market?
• What are the market opportunities and threats faced by the vendors in the global mobile paymentmarket?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global mobile payment market?

Technavio also offers customization on reports based on specific client requirement.

Mobile payments are transactions that can be fulfilled through cell phones which enable account holders to make online purchases or bill payments or on the go. Mobile payments are becoming a revolutionary mode of payment and becoming an important part of media and entertainment industry. The report provides detailed data and insights on internet and e-commerce sectors sector. Our market research report for the e-commerce sector comprises of an in-depth analysis of wide range of business assessment parameters such as market size, growth rate, emerging trends, prominent vendors, and key insights.

Research analysts at Technavio go through a rigorous analysis of research journals, expert opinions, telephone surveys and interviews, and client survey to oversee primary and secondary research. The information thus collected helps the client achieve their business objectives by serving as an essential business input tool which accurately forecasts the growth potential of the market. The report on the global mobile payments market also provides segregated data and insights as per different segmentation criteria such as segmentation by geography and segmentation by types.

This upcoming market research report on the global mobile payments market also analyzes the market for each geographic segment such as the Americas, EMEA, and APAC, helping the client in devising effective business strategies. The report also covers both major and niche vendors like PayPal, MasterCard, Google Wallet, Apple Pay, Samsung Pay, Visa, LevelUp, Braintree Payments, Payby.Me, WorldPay, Venmo, Fortumo, Boku, and NTH Mobile.

The upcoming research report on the global mobile payments market also includes market intelligence parameters such as technological advancements, key drivers, competitive landscape, emerging trends and opportunities and challenges faced by the industry. Also, it identifies key innovation in this market in alignment to consumer electronics and media and entertainment services.

Our market research methodology for the global mobile payments market

PART 02: Scope of the report

PART 03: Research Methodology

PART 04: Introduction

• Market outline

PART 05: Market landscape

• Market overview
• Market size and forecast
• Five forces analysis

PART 06: Market segmentation by mode of transaction

• Global mobile payment market by mode of transaction
• Global mobile payment market by WAP
• Global mobile payment market by direct carrier billing
• Global mobile payment market by SMS
• Global mobile payment market by NFC

PART 07: Market segmentation by type of payment

• Global mobile payment market by type of payment
• Global mobile payment market by mobile wallet
• Global mobile payment market by mobile money

PART 08: Geographical segmentation

• Global mobile payment market by geography
• Mobile payment market in APAC
• Mobile payment market in Americas
• Mobile payment market in EMEA

PART 09: Key leading countries

• China
• US
• UK

PART 10: Decision framework

PART 11: Drivers and challenges

• Market drivers
• Market challenges

PART 12: Market trends

• Cloud-based mobile payment solutions
• Emergence of mPOS
• Popularity of bitcoins

PART 13: Vendor landscape

• Competitive scenario
• Mobile money vendors
• Mobile wallet vendors
• Other prominent vendors

PART 14: Appendix

• List of abbreviations