Global MCommerce Payment Market
Posted by manisha on December 7th, 2020
Global M-Commerce Payment Market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at XX% through 2020 to 2027, reaching nearly US$ 47.3 Bn.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
M-commerce (Mobile Commerce) is another name for an E-commerce transaction, which includes the use of wireless devices like smartphones, tablets, laptops, with the help of internet under the supply medium of wireless or wired. Mobile payments of many types are utilized for diverse operations, including ordering takeaway food, movie tickets, and smartphone game upgrade across various end-user industries.
The world of M-Commerce or mobile payments is always evolving with rapidly growing consumer needs. The importance of mobile commerce is further reinforced by the fact that over 35% of the visitors to popular E-commerce sites prefer using an app rather than the web version. Along with M-Commerce, the mobile payment sector is also one of the most dynamic and fastest-growing sectors of the international economy and supports different types of technologies and business models aiming in various global markets.
The World’s Biggest Mobile Payment:
Global M-Commerce Payment Market1
Barriers to M-commerce payment adoption:
A lack of infrastructure and large unbanked populations has held back M-Commerce payment adoption in some developing markets. In developed economies, including the UK, Australia & Finland the extensive use of contactless payment cards has been a barrier to adoption. Also, security breaches and privacy of the user data are major concerns for the M-commerce payment market and might hamper the market growth.
The report covers all the trends and technologies playing a major role in the growth of the M-Commerce payment market over 2020-2027. Growing demand and high penetration of smartphones across the world have led the users to focus more on mobile-based payments and transactions using mobile wallets that are anticipated to have a positive impact on market growth. According to the research, approximately 66% of the World Population has adopted smartphones as of 2019.
By payment modes, the near field communication (NFC) segment was valued at USD XX Mn. in 2019 and is expected to reach USD XX Mn. by 2027 at a CAGR of XX% during the forecast period. Digital wallets using near field communication (NFC) for contactless card machines comprise Samsung Pay, Apple Pay, and Google Pay and this is consequently set fuel the mobile commerce market. NFC phones can communicate with NFC-enabled card machines using close-proximity radio regularity identification. The mobile phones are not desired to touch the point of sale to transfer cash, but they have to be within a few inches of the terminal. Likewise, the MMR report covers all segments in the M-Commerce payment market such as transactions, payment modes, and end-user.
Mobile Payment Usage is Highest in Global Economies:
Global M-Commerce Payment Market2
The report offers a brief analysis of the major regions in the M-Commerce payment market, such as Asia-Pacific, Europe, North America, South America, and the Middle East & Africa. The Asia Pacific M-Commerce payment market was valued at US$ XX million in 2019 and is expected to reach a value of US$ XX million by 2027, with a CAGR of XX% during the forecast period. The APAC is increasingly becoming popular for the adoption of its M-Commerce payment models. Major economies, like China, Japan, India, and Australia, are providing a stable ecosystem for the growth of the M-Commerce payment market.
In India, the recent demonetization act has brought widespread awareness about other modes of payment other than cash. According to the Visa Company, the company has crossed more than US$ 20.0 Mn. contactless cards in 2018 in India. The Visa Company also reveals that the contact less payment method and QR transactions make more than ~25% of the transactions processed by Visa in India.
The MMR research study includes the profiles of leading companies operating in the global M-Commerce payment market. In Feb 2019, Visa and Planeta announced the launch of new technology that allows public transit operators global to implement contactless payments faster and at ease than ever, and for a much lower cost.
The objective of the report is to present a comprehensive analysis of the Global M-Commerce Payment Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
Global M-Commerce Payment Market, by Transactions
• Near Field Communication (NFC)
• Smart device users
• Asia Pacific
For more information of visit:https://www.maximizemarketresearch.com/market-report/global-m-commerce-payment-market/58830/
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About the Authormanisha
Joined: June 26th, 2020
Articles Posted: 99
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