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Global Mobile Payments Market 2021 is expected to register a CAGR of 23.85%, during forecast period with Impact of Covid 19 Analysis

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Global “Mobile Payments Market” Report 2021 (value and volume) by company, regions, product types, end industries, history data and estimate data. Also, Report contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. This report focuses on the Mobile Payments in the Global market, especially in the United States, Europe, China, Japan, South Korea, North America, India. Mobile Payments Market report categorizes the market based on manufacturers, regions, type, and application. Mobile Payments Market reports offer a detailed assessment of the Mobile Payments including enabling technologies, current market situation, market assumptions, restraining factors.

The Global Mobile Payments market swot is provided for the international markets including progress trends, competitive landscape breakdown, and key in regions development status. Development policies and plans are discussed as well as manufacturing processes and cost structures are also analyzed.

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The mobile payment market was valued at USD 668.12 billion in 2017 and is expected to reach a value of USD 2410.75 billion by 2023 at a CAGR of 23.85% during the forecast period (2018 – 2023).

With the rapidly increasing global economy, mobile phones (especially smartphones) have become an essential commodity for an individual. Similarly, the internet has also become part and parcel of life for many people. This has increased the penetration of smartphones and internet users all over the world driving the growth of mobile payment market. The advancements in technology and introduction of various innovative products and services made mobile phones not only a telecommunication device but also as a monetary transferring device.

Many governments are also encouraging banks to build infrastructure to enable safe and secure mobile payments in rural areas, which is a massive opportunity for the vendors. Conversely, closing the gap between the awareness and adoption of this technology is considered as a major challenge for this industry. The partnerships between various payment networks and mobile operators to provide mobile payment solutions in the emerging markets is expected to give a significant boost to the industry in the near future.

Exponential Growth in E-commerce to drive the Market

With increasing number of mobile devices all over the globe and high-speed cellular networks, e-commerce industry is in its best shape than ever before. The increasing number of data analysis tools and big data analytics are helping the vendors to customize their offerings increasing the possibility of a sale. According to the E-commerce Foundation, in 2017, the e-commerce industry all over the globe made revenue of USD 1.84 trillion out of which a major portion of sales is made via mobile devices. According to the E-commerce Foundation, more than 25% of the consumers purchase weekly via mobile devices most of the purchases being made form retailer’s app or website. With the increasing number of omni-channel vendors all over the globe, this scenario is expected to more boost to the mobile payments market in the next four years.

Asia Pacific to Present New Opportunities

Asia Pacific is increasingly becoming popular for the adoption of its electronic payment models. Countries, like India, Japan, China, and Australia are providing a stable ecosystem for the growth of mobile payment market. In India, the recent demonetization act has brought widespread awareness about other modes of payment other than cash (which is a major medium of the transaction all over the Asia Pacific). According to Visa, Inc., the company has issued more than 200MM debit cards in 2017 in India. The company also reveals that contactless payment method and QR transactions make more than 25% of the transactions processed by Visa in India.

On the other hand, countries like Australia are evolving to be the giants of the mobile payment market. According to Visa, Inc., 79% of the transactions carried out in the country are carried out through electronic medium leaving only a 21% transactions to take place in cash. The company also suggests that there are more than USD 100 billion cash displacement opportunities in the country. Along with these trends, the increasing investments in e-commerce industry of Asia Pacific region coupled with the Tokyo Olympics 2021 scenario are expected to boost the mobile payment market in the region in the next four years.

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The global Mobile Payments market covers the vision of participant analysis by product types, market share, applications, sales, and revenue.

Mobile Payments Market Report covers the Top Key-players in 2021:-

  • Vodafone Group Plc
  • Gemalto N.V (Thales Group)
  • FIS Global
  • Google
  • Inc.
  • Bharti Airtel Limited
  • Mastercard Incorporated
  • Orange S.A.
  • Monitise Plc
  • Mahindra Comviva
  • Paypal (Ebay
  • Inc.)
  • Eserve Global
  • Cachet Financial Solutions
  • Moremagic Solutions
  • Visa
  • Inc.

Highlighted points of Mobile Payments Market Size:

  • Covers the varying market dynamics of the industry.
  • In-depth analysis of market risks, opportunities, limitations, and growth of the market.
  • Includes market driving and restraining factors.
  • Participants profiles along with product description, overview, and business data.
  • Include details of five years of forecast analysis by types, regions, and applications.

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This Mobile Payments Market Research/analysis Report Contains Answers to your following Questions

  • Which Manufacturing Technology is Used for Mobile Payments? What Developments Are Going On in That Technology? Which Trends Are Causing These Developments?
  • Who Are the Global Key Players in This Mobile Payments Market? What’s Their Company Profile, Their Product Information, Contact Information?
  • What Was Global Market Status of Mobile Payments Market? What Was Capacity, Production Value, Cost and PROFIT of Mobile Payments Market?
  • What Is Current Market Status of Mobile Payments Industry? What’s Market Competition in This Industry, Both Company, and Country Wise? What’s Market Analysis of Mobile Payments Market by Taking Applications and Types in Consideration?
  • What Are Projections of Global Mobile Payments Industry Considering Capacity, Production and Production Value? What Will Be the Estimation of Cost and Profit? What Will Be Market Share, Supply and Consumption? What About Import and Export?
  • What Is Mobile Payments Market Chain Analysis by Upstream Raw Materials and Downstream Industry?
  • What Is Economic Impact On Mobile Payments Industry? What are Global Macroeconomic Environment Analysis Results? What Are Global Macroeconomic Environment Development Trends?
  • What Are Market Dynamics of Mobile Payments Market? What Are Challenges and Opportunities?
  • What Should Be Entry Strategies, Countermeasures to Economic Impact, Marketing Channels for Mobile Payments Industry?

Key Developments in the Mobile Payments Market:

  • February 2018 – Visa Inc., has announced that fourteen technology partners have joined its Visa Ready for Transit programme, as part of the company’s strategy to promote contactless payments on public transport around the world. Companies from ten different countries are included on the list, along with Vix and Worldline, the initial members of the scheme when it was launched in November 2017
    The m

    Reasons to Purchase this Report

  • Current and future mobile payment market outlook in the developed and emerging markets
  • Analyze various perspectives of the market with the help of Porter’s five forces analysis
  • The segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet (in Excel)

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    Finally, the report Global Mobile Payments Market 2021 describes the Mobile Payments industry expansion game plan, the Mobile Payments industry knowledge supply, appendix, analysis findings, and the conclusion.

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