Mobile Payment Transaction Market : Comprehensive Evaluation Of The Market Via In-Depth Qualitative Insights


Mobile payments are payment transaction done with the help of a mobile phone. The mobile payments market is worth billions of dollars and was worth US$ 550 billion in the year 2015, and is expected to touch a value of US$ 2849 billion in the year 2020, registering a CAGR of 39.1% during the assessment period. This explosive growth in the mobile payments market is due to the spread and penetration of mobile phones in the populace and their increasing features that are replacing the physical wallet. In addition, people are using their smartphones for various other applications other than voice.

On the go lifestyle trends and increasing foothold of the mobile phones amongst the consumers, making them the preferred product for accessing various other applications other than voice calling is fuelling the growth of the mobile payment systems. Today’s consumers want faster and speedier transactions on the go and this consumer behavior is positively influencing the mobile payment transaction market.

Obtain Report Details @

https://www.persistencemarketresearch.com/market-research/mobile-payment-transaction-market.asp

Booming ecommerce industry is one of the main reasons for the growth of the mobile payment transaction market. Amongst all the areas, merchandise purchases and ticketing is forecasted to contribute a significant share to the mobile payment transaction market.

The SMS segment is slated to witness a CAGR of 24.5% during the forecast period and is estimated to hold a share of 23.8% in the year 2020, at the end of the forecast period.

As far as the technology segment is concerned, the WAP/WEB sub segment is poised to occupy more than 60% of the total market followed by the SMS sub segment. However, it is the NFC communication sub segment is poised to deliver a high growth rate of 46% approximately by 2020.

Asia Pacific and Middle East & Africa are the most lucrative regions for the global mobile payment transaction market. The Asia Pacific market is projected to register a CAGR of 39.5% during the forecast period of 2015-2020. In terms of revenue, the market of Asia Pacific was valued at US$ 146,140.6 Mn in the year 2015 and this is projected to reach a value of US$ 767,867.9 Mn in the year 2020. At the end of the forecast period in 2020, the Asia Pacific region is projected to hold 27% of the market share.

Make an Enquiry @

https://www.persistencemarketresearch.com/samples/12937

Middle East & Africa is another lucrative region for the global mobile payment transaction market. The Middle East & Africa market is projected to register a CAGR of 34.0% during the forecast period of 2015-2020. In terms of revenue, the market of Middle East & Africa was valued at US$ 183,197.0 Mn in the year 2015 and this is projected to reach a value of US$ 822,858.0 Mn in the year 2020. At the end of the forecast period in 2020, the Middle East & Africa region is projected to hold 28.9% of the market share.

Key players of this market include MasterCard, PayPal, GoogleWallet, Braintree and Visa. The ease of operations of the mobile payment transaction market followed by easy user interface is driving the market all over the world for these companies.

Get ToC@

https://www.persistencemarketresearch.com/market-research/mobile-payment-transaction-market/toc

About Us

Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.

To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.

Our client success stories feature a range of clients from Fortune 500 companies to fast-growing startups. PMR’s collaborative environment is committed to building industry-specific solutions by transforming data from multiple streams into a strategic asset.

Contact

Persistence Market Research

305 Broadway,7th Floor

New York City, NY 10007

United States

T: +1-646-568-7751

Tollfree: +1 800-961-0353

Website: https://www.persistencemarketresearch.com



Report Abuse     Posted By kishor kanade
©2014 News Liner. All rights reserved - Terms of Use | Privacy Policy | Help
Dessigned By The Colour Moon
social share buttons code