Mobile Payment Transaction Market Size, Share, Growth Report 2032

Mobile Payment Transaction Market

Mobile Payment Transaction Market - By Type of Mobile Payment (Mobile Money And Mobile Wallet/Bank Cards), By Mode Of Transaction (NFC, WAP, And SMS), By Application (Energy & Utilities, Hospitality & Transportation, Entertainment, Retail, Healthcare, And Others), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019 – 2025

Category: Technology & Media Report Format : PDF Pages: 110 Report Code: ZMR-1704 Published Date: Jan-2021 Status : Published

The global Mobile Payment Transaction Market value was estimated at 924.98 (USD Billion) in 2018 and is projected to register a CAGR of nearly 27.9% during the period from 2019 to 2025.

Mobile Payment Transaction Market

The global Mobile Payment Transaction Market value was estimated at 924.98 (USD Billion) in 2018 and is projected to register a CAGR of nearly 27.9% during the period from 2019 to 2025. Apparently, the market is likely to accrue revenue worth about 6,798.01(USD Billion) by 2025. The report offers valuation and analysis of the Mobile Payment Transaction Market on a global as well as regional level. The study offers a comprehensive assessment of the industry competition, restraints, revenue estimates, avenues, current & emerging trends, and industry-validated market information. The report offers historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on value (USD Billion).

Introduction

Mobile payment is a substitute method of conventional payment system where cash, credit cards, and cheque are the mode of payment. Mobile payment offers the customer a method of purchasing goods & services through smartphone, iPhone, and tablets. Apart from this, mobile payment facilitates online cashless transactions and makes use of myriad techniques including direct mobile billing, near field communication, and SMS-based transactional payment. It also enables hassle-free financial deals and enhances transactional security. Thriving e-commerce activities along with surge in the m-commerce sector in developing economies will make notable contributions towards overall mobile payment transaction market revenue over the assessment period.

Furthermore, mobile payments are utilized for myriad operations such as movie ticket ordering, upgrading of games on smartphones, and ordering of food through mobile. All these aspects have garnered high popularity for the mobile payment transactions in the years ahead.

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Market Growth Drivers

Burgeoning demand for payment deals through mobile or smartphones is predicted to enlarge the scope of mobile payment transaction market over the assessment period. With massive customer demand, mammoth firms are devising new payment methods and this will further steer the expansion of the industry over the forecast timeline. Launching of payment wallets and new cash back offers on mobile payment will translate into humungous market penetration across the globe over the forecast timespan. With internet penetration witnessed in nook & corner across the globe and rise in the use of smartphones in the developing countries will pave a way for expansion of mobile payment transaction market in the years ahead. The emergence of e-Commerce industry will play a vital role in shaping the growth of mobile payment transaction industry in the ensuing years.

Furthermore, a prominent surge in online retail activities and changing lifestyles is predicted to result in humungous surge in the business growth over the forecast timespan. Governments across the globe are trying to create secured mobile payment infrastructure in the remote & distant locations and also aiding banks to develop such infrastructure to enable cashless transactions. This, in turn, will generate massive demand for mobile payment transactional activities across the globe in the years to come.

Asia Pacific Market Revenue To Hit Scalable Heights By 2025

The expansion of mobile payment transaction industry in Asia Pacific during 2019-2025 can be credited to presence of strong FinTech infrastructure facility and huge investments by the key players in the region. In addition to this, the introduction of quick payment methods including NFC, mobile point- of-sale, and banking app transactions is prevalent in the countries such as India, China, Japan, Singapore, and Philippines and this will translate into huge regional market expansion over the ensuing years.

Key participants profiled in the report include Mahindra Comviva Safaricom Ltd, Econet Wireless Zimbabwe ltd, Millicom International Cellular, MasterCard Incorporated, MTN Group Ltd, Bharti Airtel Ltd, Orange S.A., and PayPal Holdings, Inc.

The global mobile payment Transaction market is segmented as follows:

By Mode of Transaction

  • Short Message Service (SMS)
  • Near-field Communication (NFC)
  • Wireless Application Protocol (WAP)

By Type of Mobile Pay

By Application

  • Entertainment
  • Energy & Utilities
  • Healthcare
  • Retail
  • Hospitality & Transportation
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Burgeoning demand for payment deals through mobile or smartphones is predicted to enlarge the scope of mobile payment transaction market over the assessment period. With massive customer demand, mammoth firms are devising new payment methods and this will further steer the expansion of the industry over the forecast timeline. Launching of payment wallets and new cash back offers on mobile payment will translate into humungous market penetration across the globe over the forecast timespan. With internet penetration witnessed in nook & corner across the globe and rise in the use of smartphones in the developing countries will pave a way for expansion of mobile payment transaction market in the years ahead. The emergence of e-Commerce industry will play a vital role in shaping the growth of mobile payment transaction industry in the ensuing years.

According to Zion market research, the global Mobile Payment Transaction Market value was estimated at 924.98 (USD Billion) in 2018 and is projected to register a CAGR of nearly 27.9% during the period from 2019 to 2025. Apparently, the market is likely to accrue revenue worth about 6,798.01(USD Billion) by 2025.

Asia Pacific is likely to make noteworthy contributions towards overall market revenue during 2019-2025. The surge in the expansion of market in the sub-continent over the estimated timespan is due to presence of strong FinTech infrastructure facility and huge investments by the key players in the region. In addition to this, the introduction of quick payment methods including NFC, mobile point- of-sale, and banking app transactions is prevalent in the countries such as India, China, Japan, Singapore, and Philippines and this will translate into huge regional market expansion over the ensuing years.

The key players profiled in the report include Mahindra Comviva Safaricom Ltd, Econet Wireless Zimbabwe ltd, Millicom International Cellular, MasterCard Incorporated, MTN Group Ltd, Bharti Airtel Ltd, Orange S.A., and PayPal Holdings, Inc. New product innovations and expansion of the product portfolio will further contribute towards the market revenue over the years ahead.

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