Mobile Payment Market Size, Trends, Growth and Analysis Report 2023-2028

Mobile Payment Market Size, Trends, Growth and Analysis Report 2023-2028

IMARC Group, a leading market research company, has recently released a report titled “Mobile Payment Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global mobile payment market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Mobile Payment Market?

What is Mobile Payment?

Mobile payment is an e-payment method that involves the use of mobile devices for authorizing, initiating and confirming monetary transactions. These payments are facilitated by mobile applications that are directly linked to the financial credentials of individuals. The use of these solutions ensures enhanced safety while making a payment due to the improved data security offered by these e-payment solutions. Consequently, it finds extensive applications across the retail, food, e-commerce and entertainment sectors.

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What are the Growth Prospects and Trends in the Mobile Payment Industry?

The mobile payment market is majorly driven by the widespread penetration of smartphones and continual improvements in the network infrastructure. This has contributed to the escalating requirement for mobile-based payments among individuals. Additionally, the increasing awareness regarding the improved safety of these transactions and the rising integration of mobile payment services with two-factor authentication are also creating a positive outlook for the market.  Some of the other factors contributing to the market growth include the widespread preference for contactless payment methods among the masses and the numerous initiatives undertaken by governing bodies to promote digital payments.

Who are the Key Players Operating in the Mobile Payment Market?

The competitive landscape of the mobile payments industry has been studied in the report with the detailed profiles of the key players.

• FIS
• Gemalto
• MasterCard
• PayPal
• Alipay
• Visa
• Apple
• Google
• Samsung Electronics
• Bharti Airtel
• American Express
• Bank of America
• Citrus Payment Solutions
• LevelUp
• MobiKwik
• One97 Communication
• Orange
• Oxigen
• Square
• Venmo
• ZipCash Card Services

What is Included in Market Segmentation?

The report has categorized the market based on mode of transaction, application and region. 

Breakup by Mode of Transaction:

• WAP (Wireless Application Protocol)
• NFC (Near field communications)
• SMS (Short Message Service)
• USSD (Unstructured Supplementary Service Data)
• Others

Based on Application:

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

Regional Analysis:

·         North America (United States, Canada)

·         Europe (Germany, France, United Kingdom, Italy, Spain, Others)

·         Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)

·         Latin America (Brazil, Mexico, Others)

·         Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)

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Key Highlights of The Report:                                                    

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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