Mobile payments market 2023-2027; Segmentation by Location, Type and Geography; CAGR accelerating at 20.49% by 2027- Technavio

NEW YORK, June 2, 2023 /PRNewswire/ -- The Mobile payments market market segmentation by location (remote payment and proximity payment), type (money transfers, merchandise purchases, bill payments, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).It also features a thorough study of the factors, patterns, and challenges.

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Regional Market Outlook

During the forecast period, APAC is anticipated to contribute 43% to the growth of the global market. The regional trends and drivers that will shape the market over the course of the forecast have been thoroughly explained by Technavio's analysts. The rapid urbanization and rising use of internet services are the main drivers of the APAC market's anticipated high growth. The regional market is expanding due to the increasing use of different mobile payment methods like wallets and payment gateways. 

Governments from a number of the region's nations have been promoting mobile payments. For instance, the Indian government has been implementing a number of initiatives to encourage and promote mobile payments there. The goal of the government's Digital India effort is to establish a digitally empowered economy.

View the sample report for more key highlights on the regional market share 

Global Market Outlook

The market for specialized consumer services is at a crossroads, with favorable market effects coming from rising building activities worldwide, rising consumer disposable income, new marketing techniques employed by vendors, rising acceptance of internet channels for service subscription, and specialized consumer services' ease of comfort. On the other hand, issues like rising competition, a pricing war between vendors, a rise in the demand for DIY kits, and personnel attrition and training have a detrimental effect on growth. The combined effect of these variables will cause a modest increase in the global market for specialist consumer services.

The following segments make up the global market for specialized consumer services:

• Residential services
• Home security services
• Legal services
• Personal services
• Renovation and interior design services
• Consumer auction services

Latest Drivers and Challenges Impacting the Mobile payments market

Mobile payments Market Drivers

• Rising number of online transactions: Because they are so much simpler, faster, and more practical to use than conventional methods, online transactions are becoming more and more popular among individual customers. Smartphones are also being used by customers to do online transactions at any time and from any location. In addition, thanks to attributes like simple registration and login, reliable merchant and consumer payment processing capabilities, and an intuitive dashboard, digital wallets are increasingly the preferred method of payment. Mobile payments have become more commonplace as a result of the growing use of wearable technology and mobile smartphones. Many retailers are implementing tools that support mobile payments, like NFC POS machines. NFC POS terminals also increase the quality and potency of a retailer's marketing initiatives. Retailers can increase income by optimizing their operations. Retailers all around the world are using NFC POS terminals into their procedures and operations to improve the overall relationship between their brands and customers. 
• Rising deployment in emerging economies
• Advantages of mobile payments

Mobile Payments Market Challenges

• Privacy and security concerns: Payment service providers use web cookies to collect consumer information and personal data so they may tailor their advertising messages to specific target markets. Online stores typically gather a lot of data, including information like addresses, credit card numbers, passwords, and other login credentials. Numerous businesses also gather a lot of information about customers using cookies and other tools in order to identify their demographics and improve the advertising they target to them in the future. Because m-commerce involves real-time financial transactions, confidential information, such as that pertaining to customer addresses and credit card information, is at danger. Additionally, customers may suffer financial damages as a result of data theft.
• Lack of awareness
• Absence of Global Standards for Cross-Border Payments

Explore the evolving Vendor Landscape

Some of the Mobile payments market vendors are:

Mahindra and Mahindra Ltd. - The company operates in a number of markets, with a strong emphasis on the automotive sector.These markets include financial services and the automotive sector. The business operating in this segment sells construction tools, mobility solutions, autos, spare parts, and other items. One of the company's main services is mobile payments. 

The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:

• Alphabet Inc.
• Amazon.com Inc.
• American Express Co.
• Ant Technology Group Co. Ltd.
• Apple Inc.
• JPMorgan Chase and Co.
• Mastercard Inc.
• MoneyGram International Inc.
• NASPERS Ltd.
• One97 Communications Ltd.
• PayPal Holdings Inc.
• Samsung Electronics Co. Ltd.
• Tencent Holdings Ltd.
• Visa Inc.
• Vodafone Group Plc
• Alibaba Group Holding Ltd

Request a sample today to explore the offerings of vendors and discover how they can benefit your business. - View Sample Report in minutes

Key benefits of the report:

• This study presents the analytical depiction of the mobile payments market along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with a detailed analysis of the Mobile payments market share.
• The current market is quantitatively analyzed to highlight the mobile payments market growth scenario.
• The report provides a detailed mobile payments market analysis depending on competitive intensity and how the competition will take shape in coming years.

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1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Location
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global mobile payments market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global mobile payments market 2017 - 2021 ($ million)

• 4.2 Location Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Location Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Location

• 6.1 Market segments 
• Exhibit 30: Chart on Location - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Location - Market share 2022-2027 (%)

• 6.2 Comparison by Location 
• Exhibit 32: Chart on Comparison by Location
• Exhibit 33: Data Table on Comparison by Location

• 6.3 Remote payment - Market size and forecast 2022-2027
• Exhibit 34: Chart on Remote payment - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Remote payment - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Remote payment - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Remote payment - Year-over-year growth 2022-2027 (%)

• 6.4 Proximity payment - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Proximity payment - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Proximity payment - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Proximity payment - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Proximity payment - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Location 
• Exhibit 42: Market opportunity by Location ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 Money transfers - Market size and forecast 2022-2027
• Exhibit 47: Chart on Money transfers - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Money transfers - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Money transfers - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Money transfers - Year-over-year growth 2022-2027 (%)

• 7.4 Merchandise purchases - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Merchandise purchases - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Merchandise purchases - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Merchandise purchases - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Merchandise purchases - Year-over-year growth 2022-2027 (%)

• 7.5 Bill payments - Market size and forecast 2022-2027
• Exhibit 55: Chart on Bill payments - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Bill payments - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Bill payments - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Bill payments - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 63: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027
• Exhibit 97: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027
• Exhibit 105: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Alibaba Group Holding Ltd 
• Exhibit 116: Alibaba Group Holding Ltd - Overview
• Exhibit 117: Alibaba Group Holding Ltd - Business segments
• Exhibit 118: Alibaba Group Holding Ltd - Key offerings
• Exhibit 119: Alibaba Group Holding Ltd - Segment focus

• 12.4 Alphabet Inc. 
• Exhibit 120: Alphabet Inc. - Overview
• Exhibit 121: Alphabet Inc. - Business segments
• Exhibit 122: Alphabet Inc. - Key news
• Exhibit 123: Alphabet Inc. - Key offerings
• Exhibit 124: Alphabet Inc. - Segment focus

• 12.5 Amazon.com Inc. 
• Exhibit 125: Amazon.com Inc. - Overview
• Exhibit 126: Amazon.com Inc. - Business segments
• Exhibit 127: Amazon.com Inc. - Key news
• Exhibit 128: Amazon.com Inc. - Key offerings
• Exhibit 129: Amazon.com Inc. - Segment focus

• 12.6 American Express Co. 
• Exhibit 130: American Express Co. - Overview
• Exhibit 131: American Express Co. - Business segments
• Exhibit 132: American Express Co. - Key offerings
• Exhibit 133: American Express Co. - Segment focus

• 12.7 Apple Inc. 
• Exhibit 134: Apple Inc. - Overview
• Exhibit 135: Apple Inc. - Business segments
• Exhibit 136: Apple Inc. - Key news
• Exhibit 137: Apple Inc. - Key offerings
• Exhibit 138: Apple Inc. - Segment focus

• 12.8 JPMorgan Chase and Co. 
• Exhibit 139: JPMorgan Chase and Co. - Overview
• Exhibit 140: JPMorgan Chase and Co. - Business segments
• Exhibit 141: JPMorgan Chase and Co. - Key offerings
• Exhibit 142: JPMorgan Chase and Co. - Segment focus

• 12.9 Mastercard Inc. 
• Exhibit 143: Mastercard Inc. - Overview
• Exhibit 144: Mastercard Inc. - Product / Service
• Exhibit 145: Mastercard Inc. - Key news
• Exhibit 146: Mastercard Inc. - Key offerings

• 12.10 MoneyGram International Inc. 
• Exhibit 147: MoneyGram International Inc. - Overview
• Exhibit 148: MoneyGram International Inc. - Business segments
• Exhibit 149: MoneyGram International Inc. - Key offerings
• Exhibit 150: MoneyGram International Inc. - Segment focus

• 12.11 NASPERS Ltd. 
• Exhibit 151: NASPERS Ltd. - Overview
• Exhibit 152: NASPERS Ltd. - Business segments
• Exhibit 153: NASPERS Ltd. - Key offerings
• Exhibit 154: NASPERS Ltd. - Segment focus

• 12.12 One97 Communications Ltd. 
• Exhibit 155: One97 Communications Ltd. - Overview
• Exhibit 156: One97 Communications Ltd. - Product / Service
• Exhibit 157: One97 Communications Ltd. - Key offerings

• 12.13 PayPal Holdings Inc. 
• Exhibit 158: PayPal Holdings Inc. - Overview
• Exhibit 159: PayPal Holdings Inc. - Product / Service
• Exhibit 160: PayPal Holdings Inc. - Key offerings

• 12.14 Samsung Electronics Co. Ltd. 
• Exhibit 161: Samsung Electronics Co. Ltd. - Overview
• Exhibit 162: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 163: Samsung Electronics Co. Ltd. - Key news
• Exhibit 164: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 165: Samsung Electronics Co. Ltd. - Segment focus

• 12.15 Tencent Holdings Ltd. 
• Exhibit 166: Tencent Holdings Ltd. - Overview
• Exhibit 167: Tencent Holdings Ltd. - Business segments
• Exhibit 168: Tencent Holdings Ltd. - Key offerings
• Exhibit 169: Tencent Holdings Ltd. - Segment focus

• 12.16 Visa Inc. 
• Exhibit 170: Visa Inc. - Overview
• Exhibit 171: Visa Inc. - Product / Service
• Exhibit 172: Visa Inc. - Key offerings

• 12.17 Vodafone Group Plc 
• Exhibit 173: Vodafone Group Plc - Overview
• Exhibit 174: Vodafone Group Plc - Business segments
• Exhibit 175: Vodafone Group Plc - Key offerings
• Exhibit 176: Vodafone Group Plc - Segment focus

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations 
• Exhibit 183: List of abbreviations

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