Market By Medium, Type, Application And Geography | Forecast 2019-2027
After a detailed analysis, Triton Market Research has concluded that the global mobile payment market is expected to display an upward trend and is estimated to grow at a CAGR of 24.22% in terms of revenue over the forecast period 2019-2027. The market was assessed to be worth $746.62 million in the year 2018 and is predicted to generate a revenue of approximately $7632.9 million by the year 2027.
Mobile payment, also called as mobile money transfer, mobile money or mobile wallet, usually refers to payment services that are operated under financial regulation and performed from or through a mobile device. Instead of using cash, check, or credit cards for payment, a consumer can use a mobile device to pay for a variety of services and digital or actual tangible goods. Mobile payment pros include providing convenience, boosting sales and maintaining customer loyalty. Instead of stopping at an ATM for withdrawing cash or filling a wallet or a purse with credit cards, one can easily use smartphones to make monetary transactions. One can also enjoy quick m-paying as it cuts down the check-out time.
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There is an availability of incentive programs that are attached to mobile payment applications. The application can save one’s information and log one’s payments for loyalty programs which can add value to other future purchases. The ability of businesses to use mobile payments that don’t accept credit card purchases is of great advantage. In various cases, businesses find mobile payment plans to be cheaper than a credit card payment system. In fact, businesses that once were having cash-only payments will now experience a jump in revenue, by merely offering mobile payment options.
Within this report from Triton on the global mobile payment market, market definition and the key insights regarding the industry are discussed. Also, the evolution of the payment market, the market attractiveness matrix, vendor scorecard, Porter’s five force analysis, industrial player positioning, and key market strategies are studied for the mobile payment industry.
Market drivers like the growth in e-commerce increased growth via mergers and acquisitions (which is a key growth driver), mobile payment attaining preference over traditional ways of banking, increased acceptance of mobile payments by small merchants and businesses, technological advancements and an unbanked population that is increasingly opting for mobile payments are analyzed. The industry is facing market restraints such as security concerns over the use of mobile payments. The possibility of a slowdown in mobile payments due to spyware & malware and interoperability are obstructing the market growth.
Key opportunities like the emphasis on user-convergence giving rise to mobile payment systems, entry of big players in mobile payment market, growing smart city projects, the introduction of more number of user-friendly technologies, limited cash transactions and unbanked geographies can be leveraged by the industry to reach the projected growth. Challenges such as addressing complexities, huge capital requirement, lack of industry standards for the mobile market, lack of technological standards and need for mobile payments to create long-term growth are faced by the industry at the moment. Also, new additions to technology, new rules confusing the market players & consumers and reluctance to switch to new technology are hampering the market growth.
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Geographies that have been covered in the global mobile payment market are:
• North America: The United States and Canada
• Europe: The United Kingdom, Germany, France, Italy, Spain, Russia and rest of Europe
• Asia-Pacific: China, Japan, India, South Korea, ASEAN countries, Australia & New Zealand and rest of Asia-Pacific
• Latin America: Brazil, Mexico and rest of Latin America
• The Middle East: The United Arab Emirates, Turkey, Saudi Arabia and rest of The Middle East
• Africa: Kenya, Tanzania, Zimbabwe, South Africa, Nigeria and rest of Africa
In this report, the global mobile payment market is segregated according to the following:
O By type of payment:
• Mobile person to-person transfer (P2P)
• Mobile commerce
• Various mobile commerce services
• Prepaid mobile wallet
• In-app billing
• Carrier billing
• Closed-loop payments
O By medium:
• SMS
• Internet
• Contactless
• USSD
O By application:
• Healthcare
• Retail
• Energy & utilities
• Hospitality and transportation
• Entertainment
• Other applications
The dominant players in the mobile payment market are Mastercard, Yeepay, Banco Bilbao Vizcaya Argentaria Wallet, Intuit Pay, We Pay, Inc., G-Xchange, Google, Bank of America, M-Pesa, Softcard, Merchant Customer Exchange, PayPal, Airtel Money, Obopay Inc, The Western Union Company, Paymentwall, Tenpay Technology Ltd, Ltd., Apple Inc, Paytm, 99bill Corporation, Alipay, Beijing Qiandaibao Payment Technology Ltd, Square Inc, iZettle, Boku and China UnionPay.
The strategic analysis for each of these companies in the mobile payment market has been covered in detail. The company market share helps to dive into the information about the key market players in this industry and how much of a hold they have on the market. In spite of being technologically intensive, the immense growth opportunities are attracting new companies to rush into the market and thus accelerate the degree of competition.
Market by Technology (Data ana ..
VIEW REPORT1. MOBILE
PAYMENT MARKET - SUMMARY
2. INDUSTRY
OUTLOOK
2.1. MARKET
DEFINITION
2.2. KEY
INSIGHTS
2.2.1. MOBILE
PERSON-TO-PERSON TRANSFER (P2P) DOMINATES THE GLOBAL MOBILE PAYMENT MARKET BY
TYPE OF PAYMENT
2.2.2. CONTACTLESS
MEDIUM FOR MOBILE PAYMENT TO GROW AT SIGNIFICANT RATE
2.2.3. RETAIL
INDUSTRY SHOWS A LARGE DEMAND IN THE MOBILE PAYMENT MARKET
2.3. EVOLUTION
& TRANSITION OF MOBILE PAYMENT
2.4. PORTER'S
FIVE FORCE ANALYSIS
2.5. MARKET
ATTRACTIVENESS MATRIX
2.6. VENDOR
SCORECARD
2.7. INDUSTRY
PLAYER POSITIONING
2.8. KEY
MARKET STRATEGIES
2.9. MARKET
DRIVERS
2.9.1. GROWTH
IN E-COMMERCE
2.9.2. INORGANIC
GROWTH VIA MERGERS AND ACQUISITIONS
2.9.3. MOBILE
PAYMENT IS BEING PREFERRED OVER TRADITIONAL BANKING METHODS
2.9.4. MOBILE
PAYMENTS BEING ACCEPTED BY SMALL MERCHANTS AND BUSINESSES
2.9.5. TECHNOLOGICAL
ADVANCEMENT
2.9.6. UNBANKED
POPULATION OPTING FOR EXTENSIVE USE OF MOBILE PAYMENT
2.10.
MARKET RESTRAINTS
2.10.1.
SECURITY CONCERN
2.10.2.
INTEROPERABILITY IS A KEY
CONCERN
2.10.3.
SPYWARE AND MALWARE ATTACKS
MAY SLOW DOWN THE MARKET
2.11.
MARKET OPPORTUNITIES
2.11.1.
EMPHASIS ON USER-CONVENIENCE
GIVING RISE TO ADOPTION OF MOBILE PAYMENT SYSTEMS
2.11.2.
ENTRY OF BIG PLAYERS IN MOBILE
PAYMENT MARKET
2.11.3.
GROWING SMART CITY PROJECTS
2.11.4.
INTRODUCTION OF MORE
USER-FRIENDLY TECHNOLOGIES
2.11.5.
LIMITATIONS ON CASH
TRANSACTION
2.11.6.
UNBANKED GEOGRAPHIES ARE THE
OPPORTUNITY MARKETS
2.12.
MARKET CHALLENGES
2.12.1.
ADDRESSING THE COMPLEXITIES IS
A CONCERN
2.12.2.
HUGE CAPITAL REQUIREMENT
2.12.3.
LACK OF TECHNOLOGICAL
STANDARDS
2.12.4.
LATE ARRIVAL SCENARIO AND LACK
OF INDUSTRY STANDARD
2.12.5.
MOBILE PAYMENTS NEED TO CREATE
SPACE FOR LONG-TERM GROWTH
2.12.6.
NEW ADDITIONS TO THE
TECHNOLOGY AND UNCLEAR RULES CONFUSE THE MARKET PLAYERS AND CUSTOMERS
2.12.7.
RELUCTANCE TO SWITCH TO NEW
TECHNOLOGY
3. MOBILE
PAYMENT MARKET OUTLOOK - BY MEDIUM
3.1. SMS
3.2. INTERNET
3.3. CONTACTLESS
3.4. USSD
4. MOBILE
PAYMENT MARKET OUTLOOK - BY TYPE
4.1. MOBILE
PERSON-TO-PERSON TRANSFER (P2P)
4.2. MOBILE
COMMERCE (POS)
4.3. PREPAID
MOBILE WALLET
4.4. IN-APP BILLING
4.5. CARRIER
BILLING
4.6. CLOSED-LOOP
PAYMENTS
5. MOBILE
PAYMENT MARKET OUTLOOK - BY APPLICATION
5.1. HEALTHCARE
5.2. RETAIL
5.3. ENERGY
& UTILITIES
5.4. HOSPITALITY
AND TRANSPORTATION
5.5. ENTERTAINMENT
5.6. OTHER
APPLICATIONS
6. MOBILE
PAYMENT MARKET - REGIONAL OUTLOOK
6.1. NORTH
AMERICA
6.1.1. MARKET
BY MEDIUM
6.1.2. MARKET
BY TYPE
6.1.3. MARKET
BY APPLICATION
6.1.4. COUNTRY
ANALYSIS
6.1.4.1. UNITED
STATES
6.1.4.2. CANADA
6.2. EUROPE
6.2.1. MARKET
BY MEDIUM
6.2.2. MARKET
BY TYPE
6.2.3. MARKET
BY APPLICATION
6.2.4. COUNTRY
ANALYSIS
6.2.4.1. UNITED
KINGDOM
6.2.4.2. GERMANY
6.2.4.3. FRANCE
6.2.4.4. ITALY
6.2.4.5. SPAIN
6.2.4.6. RUSSIA
6.2.4.7. REST
OF EUROPE
6.3. ASIA-PACIFIC
6.3.1. MARKET
BY MEDIUM
6.3.2. MARKET
BY TYPE
6.3.3. MARKET
BY APPLICATION
6.3.4. COUNTRY
ANALYSIS
6.3.4.1. CHINA
6.3.4.2. JAPAN
6.3.4.3. INDIA
6.3.4.4. SOUTH
KOREA
6.3.4.5. ASEAN
COUNTRIES
6.3.4.6. AUSTRALIA
& NEW ZEALAND
6.3.4.7. REST
OF ASIA-PACIFIC
6.4. LATIN
AMERICA
6.4.1. MARKET
BY MEDIUM
6.4.2. MARKET
BY TYPE
6.4.3. MARKET
BY APPLICATION
6.4.4. COUNTRY
ANALYSIS
6.4.4.1. BRAZIL
6.4.4.2. MEXICO
6.4.4.3. REST
OF LATIN AMERICA
6.5. THE
MIDDLE EAST
6.5.1. MARKET
BY MEDIUM
6.5.2. MARKET
BY TYPE
6.5.3. MARKET
BY APPLICATION
6.5.4. COUNTRY
ANALYSIS
6.5.4.1. UNITED
ARAB EMIRATES
6.5.4.2. TURKEY
6.5.4.3. SAUDI
ARABIA
6.5.4.4. REST
OF THE MIDDLE EAST & AFRICA
6.6. AFRICA
6.6.1. MARKET
BY MEDIUM
6.6.2. MARKET
BY TYPE
6.6.3. MARKET
BY APPLICATION
6.6.4. COUNTRY
ANALYSIS
6.6.4.1. KENYA
6.6.4.2. TANZANIA
6.6.4.3. ZIMBABWE
6.6.4.4. SOUTH
AFRICA
6.6.4.5. NIGERIA
6.6.4.6. REST
OF AFRICA
7. COMPETITIVE
LANDSCAPE
7.1. APPLE,
INC.
7.2. ALIPAY
7.3. AIRTEL
MONEY
7.4. BOKU
7.5. BANK
OF AMERICA
7.6. BANCO
BILBAO VIZCAYA ARGENTARIA WALLET
7.7. BEIJING
QIANDAIBAO PAYMENT TECHNOLOGY, LTD.
7.8. CHINA
UNIONPAY
7.9. MERCHANT
CUSTOMER EXCHANGE
7.10.
M-PESA
7.11.
DWOLLA CORP.
7.12.
G-XCHANGE
7.13.
GOOGLE
7.14.
IZETTLE
7.15.
INTUIT PAY
7.16.
MASTERCARD
7.17.
SQUARE INC
7.18.
TENPAY
TECHNOLOGY, LTD.
7.19.
THE WESTERN UNION COMPANY
7.20.
WE PAY, INC.
7.21.
YEEPAY
7.22.
99BILL CORPORATION
7.23.
SOFTCARD
7.24.
PAYTM
7.25.
PAYPAL
7.26.
PAYMENTWALL
7.27.
OBOPAY, INC.
8. METHODOLOGY
& SCOPE
8.1. RESEARCH
SCOPE
8.2. SOURCES
OF DATA
8.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL MOBILE
PAYMENT MARKET, BY GEOGRAPHY, 2019-2027 (IN $ BILLION)
TABLE 2: MARKET
ATTRACTIVENESS INDEX
TABLE 3: VENDOR
SCORECARD
TABLE 4: LIST OF
PARTNERSHIP AND COLLABORATIONS
TABLE 5: GLOBAL MOBILE
PAYMENT MARKET, BY MEDIUM, 2019-2027, (IN $ BILLION)
TABLE 6 MOBILE PAYMENT
RISKS AND CHALLENGES
TABLE 7: GLOBAL MOBILE
PAYMENT MARKET, BY TYPE, 2019-2027, (IN $ BILLION)
TABLE 8: GLOBAL MOBILE
PAYMENT MARKET, BY APPLICATION, 2019-2027, (IN $ BILLION)
TABLE 9: GLOBAL MOBILE
PAYMENT MARKET, BY GEOGRAPHY, 2019-2027, (IN $ BILLION)
TABLE 10: NORTH AMERICA
MOBILE PAYMENT MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)
TABLE 11: NORTH AMERICA
MOBILE PAYMENT MARKET, BY MEDIUM, 2019-2027 (IN $ BILLION)
TABLE 12: NORTH AMERICA
MOBILE PAYMENT MARKET, BY TYPE, 2019-2027 (IN $ BILLION)
TABLE 13: NORTH AMERICA
MOBILE PAYMENT MARKET, BY APPLICATION, 2019-2027 (IN $ BILLION)
TABLE 14: EUROPE MOBILE
PAYMENT MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)
TABLE 15: EUROPE MOBILE
PAYMENT MARKET, BY MEDIUM, 2019-2027 (IN $ BILLION)
TABLE 16: EUROPE MOBILE
PAYMENT MARKET, BY TYPE, 2019-2027 (IN $ BILLION)
TABLE 17: EUROPE MOBILE
PAYMENT MARKET, BY APPLICATION, 2019-2027 (IN $ BILLION)
TABLE 18: ASIA-PACIFIC
MOBILE PAYMENT MARKET, BY COUNTRY, 2019-2027 (IN $ BILLION)
TABLE 19: ASIA-PACIFIC
MOBILE PAYMENT MARKET, BY MEDIUM, 2019-2027 (IN $ BILLION)
TABLE 20: ASIA-PACIFIC
MOBILE PAYMENT MARKET, BY TYPE, 2019-2027 (IN $ BILLION)
TABLE 21: ASIA-PACIFIC
MOBILE PAYMENT MARKET, BY APPLICATION, 2019-2027 (IN $ BILLION)
TABLE 22: LATIN AMERICA
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
TABLE 23: LATIN AMERICA
MOBILE PAYMENT MARKET, BY MEDIUM, 2019-2027 (IN $ BILLION)
TABLE 24: LATIN AMERICA
MOBILE PAYMENT MARKET, BY TYPE, 2019-2027 (IN $ BILLION)
TABLE 25: LATIN AMERICA
MOBILE PAYMENT MARKET, BY APPLICATION, 2019-2027 (IN $ BILLION)
TABLE 26: THE MIDDLE
EAST MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
TABLE 27: THE MIDDLE
EAST MOBILE PAYMENT MARKET, BY MEDIUM, 2019-2027 (IN $ BILLION)
TABLE 28: THE MIDDLE
EAST MOBILE PAYMENT MARKET, BY TYPE, 2019-2027 (IN $ BILLION)
TABLE 29: THE MIDDLE
EAST MOBILE PAYMENT MARKET, BY APPLICATION, 2019-2027 (IN $ BILLION)
TABLE 30: AFRICA MOBILE
PAYMENT MARKET, 2019-2027 (IN $ BILLION)
TABLE 31: AFRICA MOBILE
PAYMENT MARKET, BY MEDIUM, 2019-2027 (IN $ BILLION)
TABLE 32: AFRICA MOBILE
PAYMENT MARKET, BY TYPE, 2019-2027 (IN $ BILLION)
TABLE 33: AFRICA MOBILE
PAYMENT MARKET, BY APPLICATION, 2019-2027 (IN $ BILLION)
FIGURE 1: GLOBAL MOBILE
PAYMENT MARKET, BY TYPE, 2018 & 2027 (IN %)
FIGURE 2 EVOLUTION OF
PAYMENT SYSTEM
FIGURE 3: MOBILE P2P
TRANSFER MARKET, 2019-2027 (IN $ BILLION)
FIGURE 4: CONTACTLESS
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 5: RETAIL
INDUSTRY MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 6: PORTER’S FIVE
FORCE ANALYSIS
FIGURE 7: INDUSTRY
PLAYER POSITIONING OF TOP PLAYERS IN 2018 (%)
FIGURE 8 GLOBAL URBAN
POPULATION, 2016-2050 (%)
FIGURE 9: GLOBAL MOBILE
PAYMENT MARKET, BY SMS, 2019-2027 (IN $ BILLION)
FIGURE 10: GLOBAL
MOBILE PAYMENT MARKET, BY INTERNET, 2019-2027 (IN $ BILLION)
FIGURE 11: GLOBAL
MOBILE PAYMENT MARKET, BY CONTACTLESS, 2019-2027 (IN $ BILLION)
FIGURE 12: GLOBAL
MOBILE PAYMENT MARKET, BY USSD, 2019-2027 (IN $ BILLION)
FIGURE 13: GLOBAL
MOBILE PAYMENT MARKET, BY MOBILE PERSON-TO-PERSON TRANSFER (P2P), 2019-2027 (IN
$ BILLION)
FIGURE 14: GLOBAL
MOBILE PAYMENT MARKET, BY M-COMMERCE (POS), 2019-2027 (IN $ BILLION)
FIGURE 15: GLOBAL
MOBILE PAYMENT MARKET, BY PREPAID MOBILE WALLET, 2019-2027 (IN $ BILLION)
FIGURE 16: GLOBAL
MOBILE PAYMENT MARKET, BY IN-APP BILLING, 2019-2027 (IN $ BILLION)
FIGURE 17: GLOBAL
MOBILE PAYMENT MARKET, BY CARRIER BILLING, 2019-2027 (IN $ BILLION)
FIGURE 18: GLOBAL
MOBILE PAYMENT MARKET, BY CLOSED-LOOP PAYMENTS, 2019-2027 (IN $ BILLION)
FIGURE 19: GLOBAL
MOBILE PAYMENT MARKET, BY APPLICATION, 2018 & 2027 (IN %)
FIGURE 20: GLOBAL
MOBILE PAYMENT MARKET, BY HEALTHCARE, 2019-2027 (IN $ BILLION)
FIGURE 21: GLOBAL
MOBILE PAYMENT MARKET, BY RETAIL, 2019-2027 (IN $ BILLION)
FIGURE 22: GLOBAL
MOBILE PAYMENT MARKET, BY ENERGY & UTILITIES, 2019-2027 (IN $ BILLION)
FIGURE 23: GLOBAL
MOBILE PAYMENT MARKET, BY HOSPITALITY AND TRANSPORTATION, 2019-2027 (IN $
BILLION)
FIGURE 24: GLOBAL
MOBILE PAYMENT MARKET, BY ENTERTAINMENT, 2019-2027 (IN $ BILLION)
FIGURE 25: GLOBAL
MOBILE PAYMENT MARKET, BY OTHER APPLICATIONS, 2019-2027 (IN $ BILLION)
FIGURE 26: GLOBAL
MOBILE PAYMENT MARKET, REGIONAL OUTLOOK, 2018 & 2027 (IN %)
FIGURE 27: UNITED
STATES MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 28 NUMBER OF
SMARTPHONE AND TABLET USERS IN CANADA 2014-2018 (IN BILLION)
FIGURE 29: CANADA
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 30: UNITED
KINGDOM MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 31: GERMANY
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 32: FRANCE
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 33: SPAIN MOBILE
PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 34: ITALY MOBILE
PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 35: RUSSIA
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 36: REST OF
EUROPE MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 37: CHINA MOBILE
PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 38: JAPAN MOBILE
PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 39: INDIA MOBILE
PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 40: SOUTH KOREA
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 41: ASEAN
COUNTRIES MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 42: AUSTRALIA
& NEW ZEALAND MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 43: REST OF
ASIA-PACIFIC MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 44: BRAZIL
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 45: MEXICO
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 46: REST OF
LATIN AMERICA MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 47: UNITED ARAB
EMIRATES MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 48: TURKEY
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 49: SAUDI ARABIA
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 50: REST OF THE
MIDDLE EAST MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 51: KENYA MOBILE
PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 52: TANZANIA
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 53: ZIMBABWE
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 54: SOUTH AFRICA
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 55: NIGERIA
MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)
FIGURE 56: REST OF
AFRICA MOBILE PAYMENT MARKET, 2019-2027 (IN $ BILLION)