Commerce M-Payment Market 2020 Technology, Share, Demand, Opportunity, Projection Analysis Forecast Outlook 2026

Commerce M-Payment Market – 2020-2026

Summary:

An exhaustive review has been conducted that consists of the latest trends and modes prevalent in the industry. The global Commerce M-Payment Market consists of a brief informative overview, that gives defines and describes the product/service.. The report also mentions the volume and value of the product/service at the global level, regional level and company level. From a broad perspective, the investigation represents the overall market size by analyzing historical data and prospect. 

The global mobile payment market size was valued at $1.48 trillion in 2019, and is projected to reach $12.06 trillion by 2027, growing at a CAGR of 30.1% from 2020 to 2027. 

Mobile payment is an alternative method for traditional payment systems where cash, cheques or credit cards are the medium of payment. Mobile Payment provide customers a way to purchase any good or services with the help of wireless devices such as smartphones, tablets and others. In addition, Mobile Payment use different technologies such as NFC (Near Field Communication), SMS-based transactional payments and direct mobile billing, for improving the security of the transaction and to provide hassle-free transactions. 

During COVID-19 outbreak, the retail segment accounted for the highest market share in mobile payment market, due to high demand of contactless payments in retail shops such as grocery and drug stores which helps in reducing chances of virus transmission. 

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Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Drivers & Risks

Besides providing an understanding of the product/service, the dynamics that are molding the Commerce M-Payment Market also offers an analysis of the volume trends and historical price data and figures of the product. The number of potential growth factors such as the risks, drivers, constraints, challenges, and opportunities is estimated to get a hold of the overall market. The growing innovations nowadays and the rise in the global users of the product/service and the numerous policies regulated by the government are also highlighted in the report. 

Rise in penetration of smartphones across the globe and increase in the m-commerce industry in emerging countries are the major factors driving the growth of the market. In addition, upsurge in adoption of mobile payment services in emerging countries fuels the growth of the market. Furthermore, rising data breaches and security issues in Mobile Payment hampers the growth of the market. Furthermore, growth in usage of NFC, RFID and host card emulation technology in Mobile Payment and rise in demand for fast and hassle-free transaction services is expected to provide lucrative opportunity for the market.

The mobile web payments segment is expected to garner a significant share during the forecast period. Mobile web payments mode of payment is the most popular and preferred method of making mobile payment as users only need a smartphone which drives the growth of the market in this segment. However, the near field communication segment is expected to witness growth at the highest rate during the forecast period, owing to varied features such as higher security, faster transaction processing and growing demand among the end users.

Region wise, the Mobile Payment market was dominated by Asia-Pacific in 2019 and is expected to witness the highest growth rate during the forecast period owing to expansion of the FinTech infrastructure and hefty investments from the private & public players in the region.

The report focuses on the growth prospects, restraints, and trends of the Mobile Payment market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the Mobile Payment market.

Segment review

The global Mobile Payment market is segmented on the basis of payment type, transaction mode, end user, purchase type, application and region. In terms of payment type, the market is bifurcated into proximity and remote. As per transaction mode, the market is segmented into mobile web payments, near field communication, SMS/direct carrier billing, and others. As per end user, the market is bifurcated into personal and business. 

In terms of purchase type, it is segmented into airtime transfer & top-ups, money transfers & bill payments, merchandise & coupons, travel & ticketing and others. In terms of application, the market is segmented into media & entertainment, energy & utilities, healthcare, retail, hospitality & transportation and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

COVID-19 impact analysis

During the COVID-19 pandemic wherein businesses are coping with operational challenges, many banks & financial institutions are providing their customers with new digital tools and techniques among which Mobile Payment have witnessed significant adoption. In addition, rise in penetration of smartphones in the European region is providing growth potential for the Mobile Payment market. Furthermore, many banks and FinTech industries have introduced various attractive banking strategies for supporting consumers to adopt Mobile Payment, which is creating numerous opportunities for the market. Thus, due to alarming increase in number of COVID-19 patients across the globe, consumers have adopted Mobile Payment, which has positively impacted the market growth.

Key Benefits for Stakeholders

The study provides an in-depth analysis of the global Mobile Payment market share along with the current & future trends to elucidate the imminent investment pockets.

Information about key drivers, restraints, and opportunities and their impact analysis on the global Mobile Payment market size is provided in the report.

Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the Mobile Payment industry.

The quantitative analysis of the market for the period 2020–2027 is provided to determine the Mobile Payment market potential.

Key Market Segments

By Payment type

Proximity

Remote

By Transaction Mode

Mobile Web Payments

Near-Field Communication

Short Message Service (SMS)/Direct Carrier Billing

Others

By End User

Personal

Business

By Purchase Type

Airtime Transfer & Top-ups

Money Transfers & Bill Payments

Merchandise & Coupons

Travel & Ticketing

Others

By Application

Media & Entertainment

Energy & Utilities

Healthcare

Retail

Hospitality & Transportation

Others

By Region

North America

U.S.

Canada

Europe

UK

Germany

France

Netherlands

Italy

Spain

Rest of Europe

Asia-Pacific

China

India

Japan

Australia

South Korea

Rest of Asia-Pacific

LAMEA

Latin America

Middle East

Africa

Key Market Players

American express company

Apple Inc.

Google, LLC

JPMorgan Chase & Co

Mastercard

One97 Communications Limited

PayPal Holdings, Inc.

PayU

Samsung

Visa Inc.

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Key Market Trends | Growth | Share | Sale | Revenue | Manufactures | Technology Component

Regional description

The market forecast of the Commerce M-Payment Market is analyzed not only on a global basis but also on a regional level. At the same time, a close study has been depending on the demographic changes for understanding the real-time market scenario. The market players have been explored for analyzing the potential of these market players in the present as well as in the forecast period. The report focuses on the regions wherein the market is concentrated such as the Middle East & Africa, Latin America, Asia-Pacific, Europe, North America, and South America. 

Method of research

The main aim of the report is to provide an analysis of the Commerce M-Payment Market during the periods as mentioned and the parameters of the report have been analyzed on the basis of Porter’s Five Force Model. Furthermore, the data experts use the SWOT analysis, with the help of which the research experts are able to give exhibit details about the Commerce M-Payment Market. All these research methodologies help to analyze the global market that helps to identify the main strengths, risks, opportunities and weaknesses of the product/service market. 

Key players

The key players in the market play an essential role in providing a competitive scenario along with the latest trends that are dominating the manufacturing space of the global Commerce M-Payment Market.

Table of Content: Commerce M-Payment Market 2026

1 Study Coverage

2 Executive Summary 

3 Breakdown Data by Manufacturers 

4 Breakdown Data by Type 

5 Breakdown Data by Application 

…

11 Company Profiles 

12 Future Forecast 

13 Market Opportunities, Challenges, Risks and Influences Factors Analysis 

14 Value Chain and Sales Channels Analysis 

15 Research Findings and Conclusion

16 Appendix 

Continued …

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