Global Mobile Payment Market Report 2023: Increase in Adoption of Automated Payment Options Drives Growth
Global Mobile Payment Market
Dublin, March 28, 2023 (GLOBE NEWSWIRE) — The “Global Mobile Payment Market (2023-2028) by Pay Option, Purchase Type, Payment Type, Industry, and Geography, Competitive Analysis, Impact of Covid-19, Impact of Economic Slowdown & Impending Recession with Ansoff Analysis” report has been added to ResearchAndMarkets.com’s offering.
The Global Mobile Payment Market is estimated to be USD 5.50 Tn in 2023 and is expected to reach USD 20.48 Tn by 2028, growing at a CAGR of 30.7%.
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors.
There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.
As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.
Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.
Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the Global Mobile Payment Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.
The analyst analyses the Global Mobile Payment Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the Global Mobile Payment Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter’s 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains a competitive analysis using Positioning Quadrants, the analyst’s competitive positioning tool.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 189 |
| Forecast Period | 2023 – 2028 |
| Estimated Market Value (USD) in 2023 | $5.5 Trillion |
| Forecasted Market Value (USD) by 2028 | $20.48 Trillion |
| Compound Annual Growth Rate | 30.0% |
| Regions Covered | Global |
Market Dynamics
Drivers
- Increasing Penetration of Internet and Smartphones and Rising E-Commerce
- Favourable Government Initiatives for Digitalise Payments
- Increase in Adoption of Automated Payment Options – Direct Carrier Billing, Mobile Payment Point of Sale, Mobile Payment Wallets, etc.
Restraints
- Spending Limit for Contactless Payments
Opportunities
- Opportunity to Reduce Barriers for Cross-Border Payments
- Adoption of Mobile Payment Services in Emerging Countries
Challenges
- Privacy & Security
- Availability of Alternative
Market Segmentation
The Global Mobile Payment Market is segmented based on Pay Option, Purchase Type, Payment Type, Industry, and Geography.
- By Pay Option, the market is classified into Mobile Payment Wallet/Bank Cards and Mobile Payment Money.
- By Purchase Type, the market is classified into Airtime Transfer & Top Ups, Money Transfers & Bill Payments, Merchandise & Coupons, Travel & Ticketing, and Others.
- By Payment Type, the market is classified into Proximity Payment, Near Field Communication (NFC), QR Code Payment, Remote Payment, Internet Payment, Direct Operator Billing, Digital Wallet, and SMS Payment.
- By Industry, the market is classified into Media & Entertainment, Retails & eCommerce, BFSI, Automotive, Medical & Healthcare, Transportation, Consumer Electronics, and Other.
- By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.
Companies Mentioned
- Alibaba Group
- Amazon.com, Inc.
- American Express Company
- Apple Inc.
- Bank of America Corp.
- eBay (PayPal Holdings, Inc.)
- FIS
- Google LLC
- JPMorgan Chase & Co.
- M Pesa (Vodafone Group)
- Mastercard Inc.
- MobiKwik Company
- MoneyGram International, Inc.
- One97 Communications (Paytm)
- Oxigen Services Pvt.
- PayU
- Samsung Electronics Co., Ltd.
- Square, Inc. (Block, Inc.)
- Thales Group
- Visa Inc.
- ZipCash Card Services Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/p9hye6
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