Mobile Payments Market is Expected to Reach US$ 11.85 billion with a CAGR of 29.5% by 2030

Overview

The mobile payments market is projected to grow at a CAGR of 29.5% during the forecast period 2021 to 2030. As per the mobile payments market research report, the global market for mobile payments is projected to grow swiftly by US$11.85 billion by 2030. According to analysts, growing awareness about the benefits of mobile payments as well as convenience of use and secured approach will drive the market growth during the forecast period 2021 to 2030. The mobile payments market research report offers a comprehensive analysis of the global mobile payments market and its end use application, mode of transaction, and mode payment segments. The limited penetration of technology along with low awareness levels among consumers and local businesses in some countries are the elements that could influence the mobile payments market advancement throughout the forecast period 2021 to 2030. The mobile payments market research report by expert analysts is developed to assist organizations in the mobile payments market.

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Key Players: -

Starbucks Corporation (U.S.)
Samsung Group (South Korea)
Square Inc. (U.S.)
PayPal Holdings Inc. (U.S.)
Apple (U.S.)
MasterCard Incorporated (U.S.)
General Motors Company (U.S.)
Paytm (India)

Market Segmentation

The global mobile payments market has been segmented based on end use application, mode of transaction, and mode of payment. Based on end use application, the market for mobile payments is segmented based on education, entertainment, healthcare, hospitality, and retail. Additionally, the market based on mode of transaction, is segmented into SMS, WAP, and NFC. The global market for mobile payments is also covered based on mode of payment segment which is further split into m-wallet and mobile money.

Major elements such as concerns regarding safety and security could obstruct the mobile payments market growth. However, according to the mobile payments market research report, technological advancements along with adoption of advanced technologies will propel growth throughout the forecast period 2021 to 2030. The mobile payments market is set to register growth at a high CAGR owing to these key factors. The exploration of end use application, mode of transaction, and mode payment segments along with regional markets has been given in the global mobile payments market research report. The research analysts studying the mobile payments market have put out market forecasts in the mobile payments market research report to support mobile payments market-based companies. The mobile payments market research report provides an extensive understanding of the mobile payments market based on the information and forecasts till 2030.

Regional Overview

North America, Europe, Asia Pacific, and the rest of the world regional market for mobile payments are predominantly covered in the global mobile payments market research report. Country-level mobile payments markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level mobile payments markets are covered in the report. In Asia-Pacific (APAC) region, the country-level mobile payments markets covered are Japan, India, China, and others. The mobile payments market research report also explores the regional market for mobile payments present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The mobile payments market research report also covers regional markets from the rest of the world alongside mobile payments markets of Africa and the Middle East.

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Competitive Landscape

The growing popularity of near field communications (NFC) and demand for speed are presumed to drive the mobile payments market growth worldwide. The global mobile payments market could be challenged by complex policies in certain countries, nevertheless, organizations in the mobile payments market will carry the growth rate forward. The mobile payments market research report presents company profiles of major companies active in the mobile payments market globally. Furthermore, the global mobile payments market report offers an all-inclusive analysis of the market collected from the mobile payments market’s primary and secondary sources covering both decision makers and thought leaders. The mobile payments market research report highlights such key areas assisting businesses operating in the mobile payments market to build better growth strategies.

Industry News

Popular shopping services "buy now, pay later" in the U.K. will face tougher regulations. Originally funded by Klarna, a $10.6 billion Swedish fintech start-up, these programs allow clients to spread the cost of their transactions over a period of interest-free instillments. According to CNBC's report, Klarna has received a total of $2.1 billion in funding to date and said in the report that it welcomed the move towards regulation.

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