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Mobile Payment Market by Mode of Transaction, Type of Mobile Payment, and Application - Global Opportunity Analysis and Industry Forecast, 2016-2023

  • ID: 4580623
  • Report
  • Region: Global
  • 201 pages
  • Allied Analytics LLP
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Growth in penetration of smartphones and personal devices, such as tablets and smart watches, along with the evolving technology, has transformed an individual’s way of living. The mobile payment trend has taken over traditional payment method, owing to current cashless transactions done using mobiles as a payment method. This payment method is easy and a hassle-free way to pay money virtually. Increased adoption of mobile payment in emerging economies of Asia-Pacific is expected to continue to foster growth in the mobile payment market in the coming years.

Mobile payment is used in stores and to make remote location payment via messages or mobile apps. Different types of mobile payment mediums, such as near-field communication (NFC), have been developed to provide faster money transactions. The mobile payment industry witnessed an important development when Apple announced the launch of Apple Pay, its new payment feature. This feature enables iPhone 6 and 6 plus customers to make payments at more than 200,000 retail locations in the U.S. In addition, in 2015, Starbucks Corp. launched the Mobile Order & Pay Program across the U.S. to enable customers to preorder and avoid waiting in long queues, thus boosting the market growth. Growth in e-commerce industry, increased penetration of smartphones, change in lifestyle, and the need for quick and hassle-free transactions drive the market growth. However, data breaches and security concerns impede this growth. Rise in knowledge, exposure to social media, and high potential in emerging economies are projected to present numerous growth opportunities for mobile payment market in the near future.

The mobile payment market is categorized by mode of transaction, type of mobile payment, application, and geography. By mode of transaction, it comprises short message service (SMS), near-field communication, and wireless application protocol (WAP). Based on the type of mobile payment, it is bifurcated into mobile wallet/bank cards and mobile money. By application, it is sub-segmented into entertainment, energy & utilities, healthcare, retail, hospitality & transportation, and others. By geography, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. As per the analysis, Asia-Pacific accounted for the largest mobile payment market share in 2016, owing to high mobile penetration platform for e-commerce transactions.

Key players profiled in the report include Orange S.A., Vodacom Group Limited, MasterCard Incorporated, Bharti Airtel Limited, MTN Group Limited, Safaricom Limited, PayPal Holdings, Inc., Econet Wireless Zimbabwe Limited, Millicom International Cellular SA, and Mahindra Comviva.

KEY BENEFITS FOR STAKEHOLDERS

In-depth analysis of the global mobile payment market along with its dynamics is provided to understand the market scenario.
Quantitative analysis of the current trends and future estimations from 2017 to 2023 is provided to assist strategists and stakeholders to capitalize on prevailing opportunities.
Porter’s Five Forces analysis examines the competitive structure of the mobile payment market and provides a clear understanding of the factors that influence the market entry and expansion.
A detailed analysis of the geographical segments enables identification of profitable segments for market players.
Comprehensive analysis of the trends, sub-segments, and key revenue pockets are provided in the report.
Detailed analysis of the key players and their business strategies are anticipated to assist stakeholders to take informed business decisions.
Profile analysis of leading players that operate in the mobile payment market are provided in the report, which highlight the major developmental strategies such as mergers & acquisitions, expansions, and new product launches adopted by these companies.

KEY MARKET SEGMENTS

Mobile Payment Market by Mode of Transaction

Short Message Service (SMS)
Near-field Communication (NFC)
Wireless Application Protocol (WAP)

Mobile Payment Market by Type of Mobile Payment

Mobile Wallet/Bank Cards
Mobile Money

Mobile Payment Market by Application

Entertainment
Energy & Utilities
Healthcare
Retail
Hospitality & Transportation
Others

Fire Protection Systems Market by Geography

North America
U.S.
Canada
Mexico
Europe
UK
Germany
Switzerland
Rest of Europe
Asia-Pacific
India
China
Japan
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
South Africa

The key players profiled in the report are as follows

Orange S.A.
Vodacom Group Limited
MasterCard Incorporated
Bharti Airtel Limited
MTN Group Limited
Safaricom Limited
PayPal Holdings, Inc.
Econet Wireless Zimbabwe Limited
Millicom International Cellular SA
Mahindra Comviva
Note: Product cover images may vary from those shown
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CHAPTER 1 INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS FOR STAKEHOLDERS
1.3. KEY MARKET SEGMENTS
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY
2.1. CXO PERSPECTIVE

CHAPTER 3 MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.3.1. Bargaining power of suppliers
3.3.2. Bargaining power of buyers
3.3.3. Threat of new entrants
3.3.4. Competitive rivalry in the industry
3.3.5. Threat of substitutes
3.4. MARKET POSITIONING, 2017
3.5. MARKET DYNAMICS
3.5.1. Drivers
3.5.1.1. Increase in penetration of smartphones
3.5.1.2. Growth in m-commerce industry
3.5.1.3. Rise in adoption of mobile payment in emerging economies
3.5.2. Restraints
3.5.2.1. Data breach and security concerns
3.5.3. Opportunities
3.5.3.1. Increase in demand for fast and hassle-free transaction services

CHAPTER 4 MOBILE PAYMENT MARKET, BY MODE OF TRANSACTION
4.1. OVERVIEW
4.1.1. Market size and forecast
4.2. SHORT MESSAGE SERVICE (SMS)
4.2.1. Key market trends
4.2.2. Growth factors and opportunities
4.2.3. Market size and forecast
4.3. WIRELESS APPLICATION PROTOCOL (WAP)
4.3.1. Key market trends
4.3.2. Growth factors and opportunities
4.3.3. Market size and forecast
4.4. NEAR-FIELD COMMUNICATION (NFC)
4.4.1. Key market trends
4.4.2. Growth factors and opportunities
4.4.3. Market size and forecast

CHAPTER 5 MOBILE PAYMENT MARKET, BY TYPE OF MOBILE PAYMENT
5.1. OVERVIEW
5.1.1. Market size and forecast
5.2. MOBILE WALLETS/BANK CARDS
5.2.1. Key market trends
5.2.2. Growth factors and opportunities
5.2.3. Market size and forecast
5.3. MOBILE MONEY
5.3.1. Key market trends
5.3.2. Growth factors and opportunities
5.3.3. Market size and forecast

CHAPTER 6 MOBILE PAYMENT MARKET, BY APPLICATION
6.1. OVERVIEW
6.1.1. Market size and forecast
6.2. ENTERTAINMENT
6.2.1. Key market trends
6.2.2. Growth factors and opportunities
6.2.3. Market size and forecast
6.3. ENERGY & UTILITIES
6.3.1. Key market trends
6.3.2. Growth factors and opportunities
6.3.3. Market size and forecast
6.4. HEALTHCARE
6.4.1. Key market trends
6.4.2. Growth factors and opportunities
6.4.3. Market size and forecast
6.5. RETAIL
6.5.1. Key market trends
6.5.2. Growth factors and opportunities
6.5.3. Market size and forecast
6.6. HOSPITALITY & TRANSPORTATION
6.6.1. Key market trends
6.6.2. Growth factors and opportunities
6.6.3. Market size and forecast
6.7. OTHER
6.7.1. Key market trends
6.7.2. Growth factors and opportunities
6.7.3. Market size and forecast

CHAPTER 7 MOBILE PAYMENT MARKET, BY GEOGRAPHY
7.1. OVERVIEW
7.1.1. Market size and forecast
7.2. NORTH AMERICA
7.2.1. Key market trends
7.2.2. Growth factors and opportunities
7.2.3. Market size and forecast
7.2.3.1. By mode of transaction
7.2.3.2. By type of mobile payment
7.2.3.3. By application
7.2.4. By country
7.2.4.1. U.S. market size and forecast
7.2.4.2. Canada market size and forecast
7.2.4.3. Mexico market size and forecast
7.3. EUROPE
7.3.1. Key market trends
7.3.2. Growth factors and opportunities
7.3.3. Market size and forecast
7.3.3.1. By mode of transaction
7.3.3.2. By type of mobile payment
7.3.3.3. By application
7.3.4. By country
7.3.4.1. UK market size and forecast
7.3.4.2. Germany market size and forecast
7.3.4.3. Switzerland market size and forecast
7.3.4.4. Rest of Europe market size and forecast
7.4. ASIA-PACIFIC
7.4.1. Key market trends
7.4.2. Growth factors and opportunities
7.4.3. Market size and forecast
7.4.3.1. By mode of transaction
7.4.3.2. Type of mobile payment
7.4.3.3. By application
7.4.4. By country
7.4.4.1. China market size and forecast
7.4.4.2. India market size and forecast
7.4.4.3. Japan market size and forecast
7.4.4.4. Rest of Asia-Pacific market size and forecast
7.5. LAMEA (LATIN AMERICA, MIDDLE EAST, AND AFRICA)
7.5.1. Key market trends
7.5.2. Growth factors and opportunities
7.5.3. Market size and forecast
7.5.3.1. By mode of transaction
7.5.3.2. By type of mobile payment
7.5.3.3. By application
7.5.4. By country
7.5.4.1. Latin America market size and forecast
7.5.4.2. Middle East market size and forecast
7.5.4.3. Africa market size and forecast

CHAPTER 8 COMPANY PROFILES
8.1. BHARTI AIRTEL LIMITED
8.1.1. Company overview
8.1.2. Business performance
8.1.3. Key strategic moves and developments
8.2. ECONET WIRELESS ZIMBABWE LIMITED
8.2.1. Company overview
8.2.2. Operating business segments
8.2.3. Business performance
8.2.4. Key strategic moves and developments
8.3. MAHINDRA COMVIVA
8.3.1. Company overview
8.3.2. Operating business segments
8.3.3. Key strategic moves and developments
8.4. MASTERCARD INCORPORATED
8.4.1. Company overview
8.4.2. Company snapshot
8.4.3. Business performance
8.4.4. Key strategic moves and developments
8.5. MILLICOM INTERNATIONAL CELLULAR S.A.
8.5.1. Company Overview
8.5.2. Operating business segments
8.5.3. Business performance
8.5.4. Key strategic moves and developments
8.6. MTN GROUP
8.6.1. Company overview
8.6.2. Company snapshot
8.6.3. Operating business segments
8.6.4. Business performance
8.6.5. Key strategic moves and developments
8.7. ORANGE S.A.
8.7.1. Company overview
8.7.2. Company snapshot
8.7.3. 8.4.3 Operating business segments
8.7.4. Business performance
8.7.5. Key strategic moves and developments
8.8. PAYPAL HOLDINGS, INC.
8.8.1. Company overview
8.8.2. Company snapshot
8.8.3. Operating business segments
8.8.4. Business performance
8.8.5. Key strategic moves and developments
8.9. SAFARICOM LIMITED
8.9.1. Company overview
8.9.2. Company snapshot
8.9.3. Operating business segments
8.9.4. Business performance
8.9.5. Key strategic moves and developments
8.10. VODACOM GROUP LIMITED
8.10.1. Company overview
8.10.2. Company snapshot
8.10.3. Business performance
8.10.4. Key strategic moves and developments
Note: Product cover images may vary from those shown
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According to a new report titled, Mobile Payment Market by Mode of Transaction, Type of Mobile Payment, and Application: Global Opportunity Analysis and Industry Forecast, 2017-2023, the mobile payment market was valued at $601 billion in 2016, and is projected to reach $4,574 billion by 2023, growing at a CAGR of 33.8% from 2017 to 2023. The Asia-Pacific mobile payment industry segment is anticipated to grow at the highest rate during the forecast period.

The Asia-Pacific generated the highest revenue in the mobile payment market in 2016 due to increase in number of youth population that is active on online media in India, growth in m-commerce, and introduction of innovative solutions by the key players in the region. The mobile payment market in LAMEA is expected to grow at the CAGR of 31.4% during the forecast period.

SMS segment generated maximum share of revenue in 2016 and is expected to dominate the market throughput the forecast period at the CAGR of 33.5%. Among applications, hospitality & transportation is expected to witness highest CAGR of 34.9% during the forecast period.

The report features a competitive scenario of the mobile payment industry and provides a comprehensive analysis of key growth strategies adopted by major players. The key players profiled in the study are Orange S.A., Vodacom Group Limited, MasterCard Incorporated, Bharti Airtel Limited, MTN Group Limited, Safaricom Limited, PayPal Holdings, Inc., Econet Wireless Zimbabwe Limited, Millicom International Cellular SA, and Mahindra Comviva. These players have adopted competitive strategies, such as geographical expansions, mergers & acquisitions, new product launches, and partnerships & collaborations, to augment the growth of the mobile payment market.

Key findings of the Mobile Payment Market:

The SMS segment accounted for the highest share of the mobile payment industry by mode of transaction in 2016, growing at a CAGR of 33.5% from 2017 to 2023.
The mobile money systems market by type of mobile payment generated the highest revenue share in 2016 and is projected to grow at a rate of 33.3%.
The U.S. mobile payment market generated the highest share, valued at $58,638 million, in terms of revenue in 2016.
The mobile payment market for hospitality & transportation application is expected to witness the highest growth rate during the forecast period.
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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