Mobile Payments Market
Segments - by Applications (Retail, Public Transportation, Vendor Machines, Grocery Stores, and Restaurants) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021-2028
The global mobile payments market is estimated to expand at a considerable CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing government initiatives for digitalization, favored by financial regulatory authorities and extensive use of mobile phones supporting applications for online payments mode.
Mobile payments are referred to as the process of transactions or transfer of money through various applications on mobile phone. The transactions are regulated under the control and permission of financial authorities that facilitate various payment methods by using mobile phones between customers and suppliers. These payment methods are convenient to use for an individual or a customer as it avoided and replaced the complex and old fashioned transaction systems, which include using credit and debit cards, cheques, and cash payments. The methods enable an easier way to buy items or avail services using payment through mobile phones and tablets that are employed with advanced technology including near field communication (NFC) to improve secure transactions.
Market Trends, Drivers, Restraints, and Opportunities
- Rising number of smartphone users and high penetration of internet usage are expected to drive the market growth.
- Introduction of low-cost mobile phones and development of user-friendly interface for payment applications present key factors boosting the market expansion.
- Strong favor from financial organizations and regulatory authorities such as banks regarding mobile payment and rising needs for contactless transaction due to COVID-19 pandemic act major driving factors for the market.
- Rising concerns regarding privacy and security issues among users and misuse of financial credentials due to loss of mobile phones are some major challenges projected to hamper the market expansion during the forecast period.
- Increasing the demand for mobile payments due to rising awareness of easy transaction steps largely sponsored from governments and the baking sector are offering lucrative opportunities for the market expansion in the coming years.
Scope of Mobile Payments Market Report
The report on the global mobile payments market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
|
Attributes |
Details |
|
Report Title |
Mobile Payments Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2020 |
|
Historic Data |
2018–2019 |
|
Forecast Period |
2021–2028 |
|
Segmentation |
Applications (Retail, Public Transportation, Vendor Machines, Grocery Stores, and Restaurants) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Google LLC, Samsung Group, Amazon.com Inc., Apple Inc., PayPal Inc., MasterCard PLC, American Express Co., Orange SA, Tencent Holdings Ltd., and Alipay.com Co. Ltd. |
Global Mobile Payments Market Segment Insights
Retail segment is expected to grow at a rapid pace
Based on applications, the global mobile payments market is divided into retail, public transportation, vendor machines, grocery stores, and restaurants. The Retail segment accounted for a key share of the market in 2020 and is anticipated to expand at a rapid pace during the forecast period. The segment growth can be attributed to rising preference for online shopping, increasing number of online payments, and organizational support to enhance mobile payments.
Middle East & Africa is projected to constitute a key share
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Middle East & Africa is projected to account for a key share during the forecast period owing to rising use of smartphones and the lack of banking access from a large number of population especially in Africa. On the other hand, the market in Asia Pacific is expected to gain significant share during the forecast period owing to rapid growth of online stores and favorable policies from regulatory bodies regarding financial and banking services.
Segments
The global mobile payments market has been segmented on the basis of
Applications
- Retail
- Public Transportation
- Vendor Machines
- Grocery Stores
- Restaurants
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Google LLC
- Samsung Group
- Amazon.com Inc.
- Apple Inc.
- PayPal Inc.
- MasterCard PLC
- American Express Co.
- Orange SA
- Tencent Holdings Ltd.
- Alipay.com Co. Ltd.
Competitive Landscape
Some of the key players competing in the market are Google LLC; Samsung Group; Amazon.com Inc.; Apple Inc.; PayPal Inc.; MasterCard PLC; American Express Co.; Orange SA; Tencent Holdings Ltd.; and Alipay.com Co. Ltd. Several players are actively engaged in various market strategies such as mergers, product launches, acquisitions, and expansion of production capacity to increase their market position and expand their customer base.
For instance, in 25 April, 2019, Orange SA announced that it planned to take part its digital transformation in Middle East & Africa to expand its operation.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Mobile Payments Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Mobile Payments Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Mobile Payments Market - Supply Chain
4.5. Global Mobile Payments Market Forecast
4.5.1. Mobile Payments Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Mobile Payments Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Mobile Payments Market Absolute $ Opportunity
5. Global Mobile Payments Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Mobile Payments Market Size and Volume Forecast by Applications
5.3.1. Retail
5.3.2. Public Transportation
5.3.3. Vendor Machines
5.3.4. Grocery Stores
5.3.5. Restaurants
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Mobile Payments Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Mobile Payments Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Mobile Payments Demand Share Forecast, 2019-2026
7. North America Mobile Payments Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Mobile Payments Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Mobile Payments Market Size and Volume Forecast by Applications
7.4.1. Retail
7.4.2. Public Transportation
7.4.3. Vendor Machines
7.4.4. Grocery Stores
7.4.5. Restaurants
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Mobile Payments Demand Share Forecast, 2019-2026
8. Latin America Mobile Payments Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Mobile Payments Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Mobile Payments Market Size and Volume Forecast by Applications
8.4.1. Retail
8.4.2. Public Transportation
8.4.3. Vendor Machines
8.4.4. Grocery Stores
8.4.5. Restaurants
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Mobile Payments Demand Share Forecast, 2019-2026
9. Europe Mobile Payments Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Mobile Payments Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Mobile Payments Market Size and Volume Forecast by Applications
9.4.1. Retail
9.4.2. Public Transportation
9.4.3. Vendor Machines
9.4.4. Grocery Stores
9.4.5. Restaurants
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Mobile Payments Demand Share Forecast, 2019-2026
10. Asia Pacific Mobile Payments Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Mobile Payments Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Mobile Payments Market Size and Volume Forecast by Applications
10.4.1. Retail
10.4.2. Public Transportation
10.4.3. Vendor Machines
10.4.4. Grocery Stores
10.4.5. Restaurants
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Mobile Payments Demand Share Forecast, 2019-2026
11. Middle East & Africa Mobile Payments Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Mobile Payments Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Mobile Payments Market Size and Volume Forecast by Applications
11.4.1. Retail
11.4.2. Public Transportation
11.4.3. Vendor Machines
11.4.4. Grocery Stores
11.4.5. Restaurants
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Mobile Payments Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Mobile Payments Market: Market Share Analysis
12.2. Mobile Payments Distributors and Customers
12.3. Mobile Payments Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Google LLC
12.4.2. Samsung Group
12.4.3. Amazon.com Inc.
12.4.4. Apple Inc.
12.4.5. PayPal Inc.
12.4.6. MasterCard PLC
12.4.7. American Express Co.
12.4.8. Orange SA
12.4.9. Tencent Holdings Ltd.
12.4.10. Alipay.com Co. Ltd.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Mobile Payments Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Mobile Payments Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Mobile Payments Market - Supply Chain
4.5. Global Mobile Payments Market Forecast
4.5.1. Mobile Payments Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Mobile Payments Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Mobile Payments Market Absolute $ Opportunity
5. Global Mobile Payments Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Mobile Payments Market Size and Volume Forecast by Applications
5.3.1. Retail
5.3.2. Public Transportation
5.3.3. Vendor Machines
5.3.4. Grocery Stores
5.3.5. Restaurants
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Mobile Payments Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. Mobile Payments Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global Mobile Payments Demand Share Forecast, 2019-2026
7. North America Mobile Payments Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America Mobile Payments Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America Mobile Payments Market Size and Volume Forecast by Applications
7.4.1. Retail
7.4.2. Public Transportation
7.4.3. Vendor Machines
7.4.4. Grocery Stores
7.4.5. Restaurants
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America Mobile Payments Demand Share Forecast, 2019-2026
8. Latin America Mobile Payments Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America Mobile Payments Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America Mobile Payments Market Size and Volume Forecast by Applications
8.4.1. Retail
8.4.2. Public Transportation
8.4.3. Vendor Machines
8.4.4. Grocery Stores
8.4.5. Restaurants
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America Mobile Payments Demand Share Forecast, 2019-2026
9. Europe Mobile Payments Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe Mobile Payments Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe Mobile Payments Market Size and Volume Forecast by Applications
9.4.1. Retail
9.4.2. Public Transportation
9.4.3. Vendor Machines
9.4.4. Grocery Stores
9.4.5. Restaurants
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe Mobile Payments Demand Share Forecast, 2019-2026
10. Asia Pacific Mobile Payments Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific Mobile Payments Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific Mobile Payments Market Size and Volume Forecast by Applications
10.4.1. Retail
10.4.2. Public Transportation
10.4.3. Vendor Machines
10.4.4. Grocery Stores
10.4.5. Restaurants
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific Mobile Payments Demand Share Forecast, 2019-2026
11. Middle East & Africa Mobile Payments Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa Mobile Payments Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa Mobile Payments Market Size and Volume Forecast by Applications
11.4.1. Retail
11.4.2. Public Transportation
11.4.3. Vendor Machines
11.4.4. Grocery Stores
11.4.5. Restaurants
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa Mobile Payments Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Mobile Payments Market: Market Share Analysis
12.2. Mobile Payments Distributors and Customers
12.3. Mobile Payments Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Google LLC
12.4.2. Samsung Group
12.4.3. Amazon.com Inc.
12.4.4. Apple Inc.
12.4.5. PayPal Inc.
12.4.6. MasterCard PLC
12.4.7. American Express Co.
12.4.8. Orange SA
12.4.9. Tencent Holdings Ltd.
12.4.10. Alipay.com Co. Ltd.
Our Clients
Related Reports
Some other reports from this category!
