Mobile Payment Technologies Market 2018 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
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Mobile Payment Technologies Market 2018 Mobile Payment Technologies Market 2018: Industry Survey, Growth, Competitive Landscape and Forecasts to 2023 Global Mobile Payment Technologies market was valued at USD 37 billion in 2017 and is estimated to reach market value of USD 87-88 billion by 2023 growing with 16-17% CAGR during forecast period 2018-2023. Development in digital technology, increasing adoption rate of smartphones and internet on mobile, investment by non-banking institutions in the payment system, and dynamic consumer market are some of the prime factors which are driving the market of mobile payment technology globally. However, lack of cross-border payment standards is expected to hinder the market growth in coming years. Whereas, development in 5G network, introducing artificial intelligence technology in digital payments are expected to build fruitful opportunity for the growth of the market. On the other hand, increasing cyber-attacks is one of the major challenges faced by the market. Development in technologies such as IoT, cloud, artificial intelligence, and big data, supported by growth in e-commerce sector, has revolutionized payment options or methods globally. Increasing adoption of smartphones, tablets, and other smart handheld devices, changing payment options which include the growing use of debit cards, credit cards, and other digital payment wallets, and government support in the development of high-speed networks such as 3G, 4G, and 5G are some of the major factors driving the digital payments market globally.
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Mobile Payment Technologies Market 2018
“Taste the market data and market information presented through more than 50 market data tables and figures spread in 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Mobile Payment Technologies Market Research Report - Global Forecast 2023 �
The market is expected to witness strong competition among the existing players. The mobile payment solution providers compete based on cost, product quality, reliability, and aftermarket services. It is crucial for the vendors to provide cost-efficient and high-quality services to survive and succeed in an intensely competitive market. Key market players are investing extensively in the development of advanced mobile payment solutions which would support them to stay competitive in the market. According to MRFR, Mobile Payment Technologies market was valued at USD 37 billion in 2017 and is estimated to reach market value of USD 87-88 billion by 2023 growing with 16-17% CAGR during forecast period 2018-2023
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Mobile Payment Technologies Market 2018 Segmentation: The global Mobile Payment Technologies market is segmented into solutions, deployment mode, organization size, vertical, and region. By solutions, the market is sub-segmented into point-of sale (PoS) solutions, in-store payments, and remote payments. By PoS solutions, the market is further bifurcated into near-field communication (NFC) payments, sound-wave based payments, and Magnetic secure transmission (MST) payments. Instore payments solutions are further sub-segmented into mobile wallets, and Quick response (QR) code payments. And, remote payments are classified into Internet payments, SMS payments, Direct carrier billing, and Mobile banking. By deployment, the market is segmented into on-premise, on-cloud and hybrid. By organization size, the market is sub-segmented into SMEs and large enterprises By vertical, the market is classified into BFSI, IT & Telecommunication, Retail & E-commerce, Media & Entertainment among others. Browse Report @
By region, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the world.
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Mobile Payment Technologies Market 2018 Application & Major Players in this Research: Mobile Payment Technologies Market Prominent Players :
The global Mobile Payment Technologies market is characterized by the presence of many global, regional, and local vendors. Market Research Future has identified following key players in the market – Google, PayPal, Fiserv, First Data, Worldpay, Paytm, Wirecard, Novatti, ACI worldwide, global payments, BlueSnap, PayU, Dwolla, Stripe, Six Payment services, and Paysafe among others
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Mobile Payment Technologies Market 2018 Mobile Payment Technologies Market Competitive Analysis Commenting on the report, an analyst from Market Research Future (MRFR)’s team said: Market Research Future (MRFR) has covered following countries in regional analysis of mobile payment technologies market - U.S, Canada and Mexico in North America. Germany, U.K, France, Russia, Spain, and Italy in Europe. China, Japan, India, Singapore, Australia, and South Korea in Asia-Pacific. The Middle East & Africa and South America Market in the Rest of the world. North America is leading the market of mobile payment technologies globally attributed to one of the largest markets for smartphone consumption after China, and presence of key players such as PayPal, Google, BlueSnap, and Global Payments among others. Further, developed economy, developed infrastructure, increasing market growth of digital and mobile commerce and developed baking industry are some other prime factors which are supporting the dominated market of mobile payments in North America. Asia-Pacific is the second highest revenue generated market of mobile payment technologies and is projected to witness fastest growth rate during the forecast period. Developing digital technology, increasing rate of smartphone adoption, increasing adoption of online or mobile payment modes, and developing payment infrastructure are some of the prime factors which are expected to drive the market further. 6
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