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UK Mobile Payment Market (2023-2028) by Payment Type, Pay Option, Purchase, and Industry, Competitive Analysis, Impact of Covid-19 with Ansoff Analysis

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  • 199 Pages
  • January 2023
  • Region: United Kingdom
  • Infogence Global Research
  • ID: 5566964
The UK’s Mobile Payment Market is estimated to be USD 262.62 Bn in 2023 and is expected to reach USD 775.20 Bn by 2028, growing at a CAGR of 24.17%.

Market Dynamics

Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.

As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding growth and reducing the risks.

Market Segmentations

The UK’s Mobile Payment Market is segmented based on Payment Type, Pay Option, Purchase, and Industry.
  • By Payment Type, the market is classified into Proximity Payment, Near Field Communication (NFC), QR Code Payment, Remote Payment, Internet Payment, Direct Operator Billing, Digital Wallet, and SMS Payment.
  • By Pay Option, the market is classified into Mobile Wallet/Bank Cards and Mobile Money.
  • By Purchase, the market is classified into Airtime Transfer and Top Ups, Money Transfers and Bill Payments, Merchandise and Coupons, Travel and Ticketing, and Others.
  • By Industry, the market is classified into Media and Entertainment, Retails and eCommerce, BFSI, Automotive, Medical and Healthcare, Transportation, Consumer Electronics, and Other.

Company Profiles

The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are Alibaba Group, Apple, Inc., Google LLC, M Pesa(Vodafone Group), Samsung Electronics Co., Ltd, Visa, Inc., WeChat (Tencent Holdings Limited, etc.

Competitive Quadrant

The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Ansoff Analysis

The report presents a detailed Ansoff matrix analysis for the UK’s Mobile Payment Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.

The analyst analyses the UK’s Mobile Payment Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.

Based on the SWOT analysis conducted on the industry and industry players, the analyst has devised suitable strategies for market growth.

Why buy this report?

  • The report offers a comprehensive evaluation of the UK’s Mobile Payment Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
  • The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
  • The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and the impact of economic slowdown & impending recession on the market are also featured in the report.
  • The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
  • The report also contains a competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.

Report Highlights:

  • A complete analysis of the market, including the parent industry
  • Important market dynamics and trends
  • Market segmentation
  • Historical, current, and projected size of the market based on value and volume
  • Market shares and strategies of key players
  • Recommendations to companies for strengthening their foothold in the market
Frequently Asked Questions about the UK Mobile Payment Market

What is the estimated value of the UK Mobile Payment Market?

The UK Mobile Payment Market was estimated to be valued at $262.62 Billion in 2023.

What is the growth rate of the UK Mobile Payment Market?

The growth rate of the UK Mobile Payment Market is 24.1%, with an estimated value of $775.2 Billion by 2028.

What is the forecasted size of the UK Mobile Payment Market?

The UK Mobile Payment Market is estimated to be worth $775.2 Billion by 2028.

Who are the key companies in the UK Mobile Payment Market?

Key companies in the UK Mobile Payment Market include Alibaba Group, Amazon.com, Inc., American Express Co., Apple, Inc., eBay (PayPal Holdings, Inc.), FIS, Google LLC, JPMorgan Chase & Co. and M Pesa(Vodafone Group).

Table of Contents

1 Report Description
1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders

2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Analyst Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study

3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook

4 Market Dynamics
4.1 Drivers
4.1.1 Increasing Penetration of Internet and Smartphones and Rising E-Commerce
4.1.2 Favourable Government Initiatives for Digitalise Payments
4.1.3 Increase in Adoption of Automated Payment Options - Direct Carrier Billing, Mobile Point of Sale(mPOS), Mobile Wallets, etc
4.2 Restraints
4.2.1 The Spending Limit for Contactless Payments by Government
4.3 Opportunities
4.3.1 Opportunity to Reduce Barriers for Cross-Border Payments
4.3.2 Adoption of Mobile Payment Services in Emerging Countries
4.4 Challenges
4.4.1 Security Risk
4.4.2 Availability of Alternative

5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of Covid-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis

6 UK’s Mobile Payment Market, By Payment Type
6.1 Introduction
6.2 Proximity Payment
6.3 Near Field Communication (NFC)
6.4 QR Code Payment
6.5 Remote Payment
6.6 Internet Payment
6.7 Direct Operator Billing
6.8 Digital Wallet
6.9 SMS Payment

7 UK’s Mobile Payment Market, By Pay Option
7.1 Introduction
7.2 Mobile Wallet/Bank Cards
7.3 Mobile Money

8 UK’s Mobile Payment Market, By Purchase
8.1 Introduction
8.2 Airtime Transfer and Top Ups
8.3 Money Transfers and Bill Payments
8.4 Merchandise and Coupons
8.5 Travel and Ticketing
8.6 Others

9 UK’s Mobile Payment Market, By Industry
9.1 Introduction
9.2 Media and Entertainment
9.3 Retails and Ecommerce
9.4 BFSI
9.5 Automotive
9.6 Medical and Healthcare
9.7 Transportation
9.8 Consumer Electronics
9.9 Other

10 Competitive Landscape
10.1 Competitive Quadrant
10.2 Market Share Analysis
10.3 Strategic Initiatives
10.3.1 M&A and Investments
10.3.2 Partnerships and Collaborations
10.3.3 Product Developments and Improvements

11 Company Profiles
11.1 Alibaba Group
11.2 Amazon.com, Inc.
11.3 American Express Co.
11.4 Apple, Inc.
11.5 eBay (PayPal Holdings, Inc.)
11.6 FIS
11.7 Google LLC
11.8 JPMorgan Chase & Co.
11.9 LevelUp
11.10 M Pesa(Vodafone Group)
11.11 Mastercard, Inc.
11.12 MoneyGram International, Inc.
11.13 Samsung Electronics Co., Ltd.
11.14 Square, Inc.
11.15 Thales Group
11.16 Visa, Inc.
11.17 WeChat (Tencent Holdings Ltd.)

12 Appendix
12.1 Questionnaire

Companies Mentioned

  • Alibaba Group
  • Amazon.com, Inc.
  • American Express Co.
  • Apple, Inc.
  • eBay (PayPal Holdings, Inc.)
  • FIS
  • Google LLC
  • JPMorgan Chase & Co.
  • LevelUp
  • M Pesa(Vodafone Group)
  • Mastercard, Inc.
  • MoneyGram International, Inc.
  • Samsung Electronics Co., Ltd.
  • Square, Inc.
  • Thales Group
  • Visa, Inc.
  • WeChat (Tencent Holdings Ltd.)