Global Mobile Payment Technology Market Expected to Reach XX Million by 2025
According to a new report published by Reports Monitor titled, “Mobile Payment Technology Market by Type, Property & Applications: Global Opportunity Analysis and Industry Forecast, 2017–2025,” the Mobile Payment Technology Market was valued at XX million in 2016 and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2017 to 2025.
North America is considered to be the leading region for this market, owing to early acceptance of new technology and advantages of easy, secure, and convenient monetary transaction are increasing the growth of North America market.
Mobile payment includes Point-of-Sale (PoS) transaction made or received with a mobile device. This technology has become more popular with consumers not only for their convenience as well as for their security, as with different types of mobile PoS systems, credit card information is not saved on the merchant’s PoS terminal.
The increasing adoption of smart devices and growing mobile data usage is propelling the growth of market. This is mainly because of easy way of communication and increasing demand for convenient mode of transaction. However, rising adoption of immediate payment practices is a major factor for boosting the growth of the market. Additionally, fast development in payment technology has essentially changed the expectations of consumers and businesses for completing transactions. The increasing adoption of wireless technology such as near-field communication (NFC) and mobile point of sale (mPOS) are lifting the market to grow.
The global mobile payment technology market report consists of various tools and techniques including, porters, value chain, market share analysis, and others. The data used in this report is gathered from extensive primary and secondary sources. These report gives the overall idea of market trends, opportunities, restraints, challenges, and others. The report includes major players along with their development strategies such as expansion, acquisition, merger, and others.
Based on the segmentation of market, it is bifurcated into various segments such as by type, by purchase type, by end-use application, and by region. According to the type of market it is classified into proximity payment and remote payment. However, based on the purchase type, the market is bifurcated into airtime transfers & top-ups, money transfers & payments, merchandise & coupons, travel & ticketing, and others. The end-use application includes hospitality & tourism, BFSI, media & entertainment, retail, health care, and others.
Key Question Answered: •What will be the market size in 2025 and at what rate it will grow? •Who are the major key players in global mobile payment technology market and what are their strategies? •Which vertical industry is expected to show major growth? •What segment and region will lead the market and why?
The major companies profiled in the report include: Visa Inc., MasterCard International Inc., American Express Co., Boku Inc., PayPal Inc., Fortumo, Bharti Airtel Ltd., Vodafone Ltd., AT & T Inc., Google Inc., Apple Inc., and Microsoft Corporation.
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