Global Mobile Payments Market 2023-2027

Global Mobile Payments Market 2023-2027

Technavio has been monitoring the mobile payments market and is forecast to grow by $75412.89 mn during 2022-2027, accelerating at a CAGR of 20.49% during the forecast period. Our report on the mobile payments market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the rising number of online transactions, rising deployment in emerging economies, and the advantages of mobile payments.

Technavio's mobile payments market is segmented as below:

By LocationRemote paymentProximity paymentBy TypeMoney transfersMerchandise purchasesBill paymentsOthersBy Geographical LandscapeAPACEuropeNorth AmericaSouth AmericaMiddle East and AfricaThis study identifies the growing emergence of mobile apps for shopping transactions as one of the prime reasons driving the mobile payments market growth during the next few years. Also, the rise in mobile biometrics for payment and the growing demand for payment wallets will lead to sizable demand in the market.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters. Our report on the mobile payments market covers the following areas:Mobile payments market sizingMobile payments market forecastMobile payments market industry analysisTechnavio's robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading mobile payments market vendors that include Alphabet Inc., Amazon.com Inc., American Express Co., Ant Technology Group Co. Ltd., Apple Inc., JPMorgan Chase and Co., Mahindra and Mahindra Ltd., Mastercard Inc., MoneyGram International Inc., NASPERS Ltd., One97 Communications Ltd., PayPal Holdings Inc., Samsung Electronics Co. Ltd., Tencent Holdings Ltd., Visa Inc., Vodafone Group Plc, and Alibaba Group Holding Ltd. Also, the mobile payments market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.