Proximity Mobile Payment Market ? Positive Outlook for Industry Opportunities &

Posted by RASHMI on March 20th, 2019

The proximity mobile payment market is very much a market of modernity, having come to the fore following widespread acceptance of mobile payment technology and digital economic architecture. Proximity mobile payment consists of payment carried out through mobile phones or other wireless devices. Barcodes and NFC are two of the leading contenders in the global proximity mobile payment market at present. Proximity mobile payment systems requires a large volume of supporting technological architecture, but their immense utility in making payment easier, more secure, and more convenient for customers is likely to drive demand from the global proximity mobile payment market in the coming years.

According to Transparency Market Research, the global proximity mobile payment market was valued at US.9 bn in 2017, but is likely to exhibit stunning progress in the coming years to end up at a valuation of US1.4 bn by 2022. The proximity mobile payment market is expected to exhibit a robust 48% CAGR between 2017 and 2022.

Request Exclusive Sample of this Report @  https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=30842   Of the two types of proximity mobile payment systems currently in major use, near field communication is likely to remain the dominant leader over the 2017-2022 forecast period. Barcodes are used extensively across the world, but the greater convenience of NFC tags have made them likely to be adopted on a wide scale in the retail sector. Near field communication accounted for more than 75% of the global proximity mobile payment market in 2017 and is likely to extend its dominance by increasing its market share to 87.7% by 2022. The segment was valued at US.6 bn in 2017 and is likely to exhibit a superb CAGR of 52.6% between 2017 and 2022 to emerge with a valuation of US0.9 bn in 2022.