Remote Mobile Payment Market Driven By Ubiquity of Smartphones

-
Although the global remote mobile payment market is currently in nascent stage, a fresh study by Transparency Market Research (TMR) assures that the future is highly prosperous, with the demand estimated to increment at an incredible CAGR of 44.9% during the forecast period of 2017 to 2022. As per the projections of the TMR report, the global remote mobile payment market will be worth US$7,526,127.9 mn by 2022, exponentially up from its evaluated valuation of merely US$1,176,712.6 mn in 2017. The report identifies ACI Worldwide, Inc., Samsung Electronics Co Ltd., Alphabet Inc., DH Corporation, Apple Inc., Visa Inc., Square, Inc., PayPal Holdings, Inc., Mastercard Incorporated., Fidelity National Information Services, Inc., and Fiserv, Inc. as some of the key companies currently operating in the global remote mobile payment market.


Competition Intensifying With Increasing Number of Participants

As far as the competitive landscape is concerned, the TMR report has detected that an increasing number of companies are venturing into the global remote mobile payment market and intensifying the zest to hold the pole position. This is primarily a result of a new revenue avenue opening for the hardware, electronic, and technology companies, giving them a bite out of the banking sector. That being said, security is at the backbone of this emerging technology and hence, new entrants are not finding it easy to impart their authenticity and challenge the market leaders. In the near future, more and more prominent names are expected to make a foray into the remote mobile payment market, but only those who can remain vigilant and immune from escalating data security concerns will be able to hold themselves ahead of the curve.

M-commerce is the most profitable segment of the global remote mobile payment market, in terms of mode of payment. This segment represented 89.9% of the market in 2017, a worth of US$105,836.1 mn, and is estimated to reach a valuation of US$707,081.1 mn by 2022, representing 94.0% of the overall demand. This segment is expanding at a CAGR of 46.2% and generating a revenue of US$12,024.8 mn annually. Geographically, North America is most lucrative region, with the valuation projected to reach US$264,646.3 mn by 2022, expanding at a CAGR of 48.3% during the said forecast period.

Ease of Purchasing Promoting Paradigm Shift Away from Cash

Ubiquity of smartphones is the primary driver of the remote mobile payment market, and the consumer base is rapidly increasing too, with the number of mobile users across the world estimated to breach half-a-dozen billion mark by 2020. Remote payment includes payment transactions that take place with mobile phones as the mode for personal authentication. The remote mobile payments market is gaining traction from the fact that consumers can now make payments both locally such as retail shop, person-to-person, parking, and vending machines, and remotely such as bill payments, fund transfer, mobile shopping, and prepaid account top-ups.


About Us

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

U.S. Office 

Transparency Market Research
90 State Street, Suite 700 
Albany, NY 12207 
Tel: +1-518-618-1030 
USA - Canada Toll Free: 866-552-3453 
Email: sales@transparencymarketresearch.com 
Website: www.transparencymarketresearch.com

Comments

Post a Comment

Popular posts from this blog

Oil and Gas Terminal Automation Market: To Reflect Impressive Growth Rate By 2019 - 2027

-
  Global  Oil and Gas Terminal Automation Market : Overview A sturdy growth rate, compounded annually, will be recorded in the global oil and gas terminal market, states Transparency market Research (TMR), for the period of 2019 to 2027. It will be driven forward on to a high growth trajectory at the back of a number of growth factors. Some of these are low oil prices and growing demand for natural gas across a number of varied industry verticals. Demand for oil and gas will also be pushed up by growing population for its energy and fuel needs. This in turn will require more exploration, extraction, better storage and robust distribution. And, this again would lead to demand for oil and gas terminal automation. Therefore, the market will be rife with new opportunities of growth in this period. And, as per TMR, the players would do their best to make the most of these. Global Oil and Gas Terminal Automation Market: Competitive Landscape Global oil and gas terminal automation ma...
Read more

Impact Sensing Door Unlock System Market will Generate New Growth Opportunities By 2019 - 2027

-
  Impact Sensing Door Unlock System : Introduction The impact sensing door unlock system unlocks the door automatically without a key, it can be operated through a mobile application. The impact sensing door unlock system consists of sensors and an electronic control unit, wherein the sensors receive a signal from the wireless system and transmits that signal to the electronic control unit. The electronic control unit is wired to the central lock, which in turn unlocks or locks all the doors of the vehicle. Key Drivers of Impact Sensing Door Unlock System Market Rise in demand for safety and security features in a vehicle is estimated to boost the impact sensing door unlock system market. Every vehicle manufacturer is trying to boost the integration of advanced safety features, including center locking system with impact sensing door unlock system that is activated through a mobile application. This in turn is projected to fuel the demand for the impact sensing door unlock system. ...
Read more

Architectural LED Products Market: Size, Analytical Overview, Growth Factors, Demand, Trends And Forecast To 2018 - 2026

-
  Global Architectural LED Products Market: Overview  Safety is one of the key concern in architectural spaces, which is important to recognize the need for acceptable architectural lighting. Proper architectural lighting has a vital role for people occupying the architectural space. Additionally, architectural lighting attracts the person’s attention and enables the architectures for serving its true purpose with enhanced features.  The  architectural LED products market  report involves some of the insightful predictions over the scope of the market and some prospects over growth. The new report from Transparency Market Research (TMR) on the architectural LED products market offers the thorough analysis of market segmentation and involves the past revenue and future forecasts. The report offers numerous key strategies adopted by key players coupled with some prominent trends, which are impacting on the growth. Along with this, it explains important information...
Read more