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Mobile Payment Market

Mobile Payment Market Size by Type (Proximity Payment and Remote Payment), Technology (Mobile Web Payment, Direct Mobile Billing, Near Field Communication, SMS, Mobile App, Interactive Voice Response System, and Others), End-User Industry (BFSI, Healthcare, IT and Telecommunication, Government, Transportation & Logistics, Retail, Media & Entertainment, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Base Year: 2021 Historical Data: 2019-20
  • Report ID: TBI-12740
  • Published Date: Apr, 2022
  • Pages: 234
  • Category: Consumer Goods
  • Format: PDF
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The global mobile payment market is expected to reach USD 9924.92 billion by 2030, at a CAGR of 29.90% from 2022 to 2030. The increasing propensity to use smartphones & rising penetration of mobility & smartphones, particularly in emerging nations drive the expansion of the mobile payment market.

Market Overview:

Mobile payment is a transfer of funds in retrieval for services or goods in which a mobile device is functionally implicated in ensuring & executing the payment. Mobile payments are commonly discriminated by transaction size, technology, location (proximity or remote), and funding mechanism. Mobile payment is considered the next significant innovation that will improve existing m-commerce & e-commerce efforts to release the prospects of the mobile industry. A mobile payment service includes all technologies presented to users and all tasks that the payment service providers perform to execute payment transactions. Mobile payment is increasingly utilized in banking apps to permit the consumer to send money immediately. Mobile payments of different types are used for various operations involving movie tickets, ordering takeaway food, and smartphone game promotion over many end-user enterprises. Mobile payments service providers aggregate & processes transactions involving confirmation of mPINs. Additional safety measures such as a Hardware Security Module (HSM) must be deployed over & above link encryption to assure that mPIN data is covered adequately. Mobile payments utilize various technologies to perform a transaction. Proximity payments rely on bar codes or a contactless interface to chip-enabled payment technology like contactless stickers, fobs, NFC-enabled mobile phones, or tags. Remote payments typically rely on a mobile browser, text messaging (SMS), or a mobile application.

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Market Dynamics:

Drivers:
  • The expanding accessibility of technologically advanced smartphones:

The rising adoption of smartphones & mobile payment is one of the major factors driving the growth of the global mobile payment market. The expansion of 3G & 4G connectivity has allowed consumers free access to their smartphones' services.

  • Improved adoption of mobile POS:

The promotion of young customers is partly accountable for the growth in the requirement for mobile POS methods. This group was quick to adopt the usage of touchless payments & mobile wallets. Because of that, they are propelling merchants to adapt to their choices. Furthermore, biometrics like facial & fingerprint recognition can also be utilized with mPOS to confirm consumer identities during payment, adding another level of protection to mobile money payments. With mPOS, staff can see loyalty rewards, past transactions, online browsing history, and other items that support the staff understanding of consumer needs.

Restraints:
  • Lack of customer interest in adopting new technology:

Buyer preference is one of the major factors hindering the market growth, generally due to a lack of awareness of specific mobile payment services & attributes available for certain smartphones. Moreover, the customers are concerned regarding the privacy & security of mobile wallets due to rising incidents of cyber-attacks on financial information.

Opportunities:
  • Incorporation of Internet of Things (IoT) with payment systems:

Internet of Things is an evolving technology that allows sending & receiving data from Internet-enabled devices. Incorporating the IoT with payment methods provides a significant opportunity for the extension of payment solution offerings & the development of strong payment technologies. Moreover, IoT-powered devices can provide secure payments & promise more significant convenience for customers & recipients.

Challenges:
  • Issues about network connectivity:

Technical difficulties such as network issues, power failures, or connection failures, especially in emerging economies like Latin America & Africa are significant factors hindering the market's growth. Consequently, customers from these regions infrequently prefer mobile payment technologies & adopt paychecks or cash for payments. Therefore, these factors are anticipated to impede the growth of the mobile payment technologies industry shortly.

Segmentation Analysis:

The global mobile payment market has been segmented based on type, technology, end-user industry, and regions.

  • The type segment is divided into proximity payment and remote payment. The remote payment type segment led the market with a market share of 57.15% in 2021 due to the rising adoption of a virtual terminal for remote billing.
  • The technology segment is divided into mobile web payment, direct mobile billing, near field communication, SMS, mobile app, interactive voice response system, and others. The mobile web payment technology segment led the market with a market share of 23.30% in 2021 due to the flexibility & security supplied by mobile web payment solutions. Additionally, by 2030, the near field communication technology segment will likely dominate the market due to the increasing preference for near field communication-based payment solutions among consumers & merchants.
  • The end-user industry segment is divided into BFSI, healthcare, IT & telecommunication, government, transportation & logistics, retail, media & entertainment, and others. The BFSI end-user industry segment led the market with a market share of 20.51% in 2021 due to the surge in online digitalization & banking.
Regional Segmentation Analysis:

The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and the Middle East, and Africa. Asia Pacific region emerged as the largest market for the global mobile payment market with a 42.18% share of the market revenue in 2021.

  • The increasing adoption of smart devices like smartphones is expected to contribute to the market's growth. Furthermore, the changing lifestyle & the latest online retailing trends in this region also propel the region’s growth. Also, mobile payments are a high growth area in China due to its rapidly increasing economy.
  • During the forecast period, the North America region will record the highest growth due to several key industry vendors. Moreover, the early adopter of the latest & advanced technologies is also helping to boost the region’s growth in this market. Additionally, the rising awareness amongst people, expanded infrastructure, the large number of people opting for mobile payment, and the rising number of active users are also helping to drive the market growth in this region.

Asia-Pacific Region Mobile Payment Market Share in 2021 - 42.18%

 

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Competitive Analysis:

The key players are now concentrating on implementing strategies such as adopting new technology, product innovations, mergers & acquisitions, joint venture, alliances, and partnerships to improve their market position in the global mobile payment industry.

List of Key Market Players:

  • Vodacom Group Limited
  • Bharti Airtel Limited
  • Orange S.A.
  • MTN Group Limited
  • Google
  • Amazon.com Inc
  • MasterCard Incorporated
  • Econet Wireless Zimbabwe Limited
  • Samsung Electronics Co. Ltd
  • Alibaba Group Holdings Limited
  • American Express Company
  • Millicom International Cellular SA
  • PayPal Holdings, Inc.
  • WeChat (Tencent Holdings Limited)
  • Apple Inc.
  • Safaricom Limite

Key Target Audience:

  • Market Players
  • Investors
  • End-users
  • Government Authorities
  • Consulting And Research Firm

Report Description:

  • Global Mobile Payment Market, Industry Analysis, Trends, Analysis and Forecast, 2022 to 2030 is a forthcoming/imminent research report which is to be published by The Brainy Insights.
  • 2021 is considered as the base year of the report. 2019 and 2020 are considered as the historic years and 2022 to 2030 are the forecast years. The global mobile payment market is based on revenue (USD Billion). The report incorporates the market study based on revenue. The study covers the market share revenue/market share/volume for each of the segments, regions and countries catering to global mobile payment market. The regions analyzed for the market are Europe, Asia Pacific, North America, South America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level.
  • The report encompasses with the relative data & information, which have been validated by the leading industry professionals and experts across the globe. The research report also delivers an outline of the attractiveness of mobile payment based on type, technology, end-user industry, and regions which are deduced and formulated based on their growth rate (CAGR), market size, and attractiveness by analyzing the present and prospects to fathom market growth and development in future.
  • The report illustrates the detailed (both quantitative and qualitative) analysis of historical data, revenues, key developments, along with the crucial strategies adopted by key organizations catering to global mobile payment market. This offers vital and in-depth insights to depict the overall market scenario.
  • The report offers the detailed study for the company profiles of key organizations operating in the global mobile payment market and a comparative assessment based on their product offering, business overviews, geographic presence, business strategies, segment market share, product development & innovations, recent developments, joint venture, partnerships, mergers & acquisitions, strategic alliances, SWOT analysis, and key financial information. This helps in evaluating the overall competition present in the market scenario.
  • The report provides an elaborative assessment of the porter’s five forces analysis coupled with SWOT analysis to provide business related data and information’s. Porter’s five forces model is analyzed to understand the overall competitive scenario that is prevailing in the market. Additionally, the SWOT analysis identifies both the positive and negative attributes of the market development which influences the company growth and development to sustain and survive in the long run.
  • Along with that, the report also focuses on the market related driving factors, growth limitations (restraints), potential industry opportunities, significant trends and development which act as a key potential for the investors.
  • Potential growth prospects along with the penetration rate analysis of the product (market related i.e., global mobile payment market) is covered to comprehend the adoption rate and evaluate the market size.

Frequesntly Asked Questions

As per The Brainy Insights, the size of the mobile payment market was valued at USD 942.42 billion in 2021 to USD 9924.96 billion by 2030.

Global mobile payment market is growing at a CAGR of 29.90% during the forecast period 2022-2030.

The global mobile payment market has been segmented based on type, technology, end-user industry, and regions. The remote payment segment lead type segment in 2021. The mobile web payment segment led the technology segment in 2021.

Asia-Pacific region emerged as the largest market for the mobile payment.

The market's growth will be influenced by the rising accessibility of technologically advanced smartphones.

Lack of customer interests in adopting new technology could hamper the market growth.

Incorporating the Internet of Things (IoT) with payment systems will provide considerable opportunities to the market.

Key players are Vodacom Group Limited, Bharti Airtel Limited, Orange S.A., MTN Group Limited, Google, Amazon.com Inc, MasterCard Incorporated, Econet Wireless Zimbabwe Limited, Samsung Electronics Co. Ltd, Alibaba Group Holdings Limited

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  • Further segmentation of the market on the basis of type, application, end use, product, technology, method, process and any other segment depending on the market
  • Segmentation on the basis of any specific country or region
  • Any segment can be classified on the basis of application
  • Application segment can be further divided on the basis of companies
  • The companies profiled are not limited, we can incorporate additional companies of your choice
  • We can split the company market share on the basis of product, application and region
  • Report can be prepared for any specific country/region/segment
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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Type
          4.3.2. Market Attractiveness Analysis By Technology
          4.3.3. Market Attractiveness Analysis By End-User Industry
          4.3.4. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
          5.2.1. The increasing m-commerce enterprise
          5.2.2. The surge in the penetration of smartphones over the world
          5.2.3. Rising internet penetration for online shopping
    5.3. Restraints
          5.3.1. Lack of customer interests in adopting new technology
    5.4. Opportunities
          5.4.1. Incorporation of Internet of Things (IoT) with payment systems
    5.5. Challenges
          5.5.1. Issues about network connectivity

6. Global Mobile Payment Market Analysis and Forecast, By Type
    6.1. Segment Overview
    6.2. Proximity Payment
    6.3. Remote Payment

7. Global Mobile Payment Market Analysis and Forecast, By Technology
    7.1. Segment Overview
    7.2. Mobile Web Payment
    7.3. Direct Mobile Billing
    7.4. Near Field Communication
    7.5. SMS
    7.6. Mobile App
    7.7. Interactive Voice Response System
    7.8. Others

8. Global Mobile Payment Market Analysis and Forecast, By End-User Industry
    8.1. Segment Overview
    8.2. BFSI
    8.3. Healthcare
    8.4. IT and Telecom
    8.5. Government
    8.6. Transportation & Logistics
    8.7. Retail
    8.8. Media & Entertainment
    8.9. Others

9. Global Mobile Payment Market Analysis and Forecast, By Regional Analysis
    9.1. Segment Overview
    9.2. North America
          9.2.1. U.S.
          9.2.2. Canada
          9.2.3. Mexico
    9.3. Europe
          9.3.1. Germany
          9.3.2. France
          9.3.3. U.K.
          9.3.4. Italy
          9.3.5. Spain
    9.4. Asia-Pacific
          9.4.1. Japan
          9.4.2. China
          9.4.3. India
    9.5. South America
          9.5.1. Brazil
    9.6. Middle East and Africa
          9.6.1. UAE
          9.6.2. South Africa

10. Global Mobile Payment Market-Competitive Landscape
    10.1. Overview
    10.2. Market Share of Key Players in Global Mobile Payment Market
          10.2.1. Global Company Market Share
          10.2.2. North America Company Market Share
          10.2.3. Europe Company Market Share
          10.2.4. APAC Company Market Share
    10.3. Competitive Situations and Trends
          10.3.1. Product Launches and Developments
          10.3.2. Partnerships, Collaborations, and Agreements
          10.3.3. Mergers & Acquisitions
          10.3.4. Expansions

11. Company Profiles
    11.1. Vodacom Group Limited
          11.1.1. Business Overview
          11.1.2. Company Snapshot
          11.1.3. Company Market Share Analysis
          11.1.4. Company Product Portfolio
          11.1.5. Recent Developments
          11.1.6. SWOT Analysis
    11.2. Bharti Airtel Limited
          11.2.1. Business Overview
          11.2.2. Company Snapshot
          11.2.3. Company Market Share Analysis
          11.2.4. Company Product Portfolio
          11.2.5. Recent Developments
          11.2.6. SWOT Analysis
    11.3. Orange S.A.
          11.3.1. Business Overview
          11.3.2. Company Snapshot
          11.3.3. Company Market Share Analysis
          11.3.4. Company Product Portfolio
          11.3.5. Recent Developments
          11.3.6. SWOT Analysis
    11.4. MTN Group Limited
          11.4.1. Business Overview
          11.4.2. Company Snapshot
          11.4.3. Company Market Share Analysis
          11.4.4. Company Product Portfolio
          11.4.5. Recent Developments
          11.4.6. SWOT Analysis
    11.5. Google
          11.5.1. Business Overview
          11.5.2. Company Snapshot
          11.5.3. Company Market Share Analysis
          11.5.4. Company Product Portfolio
          11.5.5. Recent Developments
          11.5.6. SWOT Analysis
    11.6. Amazon.com Inc
          11.6.1. Business Overview
          11.6.2. Company Snapshot
          11.6.3. Company Market Share Analysis
          11.6.4. Company Product Portfolio
          11.6.5. Recent Developments
          11.6.6. SWOT Analysis
    11.7. MasterCard Incorporated
          11.7.1. Business Overview
          11.7.2. Company Snapshot
          11.7.3. Company Market Share Analysis
          11.7.4. Company Product Portfolio
          11.7.5. Recent Developments
          11.7.6. SWOT Analysis
    11.8. Econet Wireless Zimbabwe Limited
          11.8.1. Business Overview
          11.8.2. Company Snapshot
          11.8.3. Company Market Share Analysis
          11.8.4. Company Product Portfolio
          11.8.5. Recent Developments
          11.8.6. SWOT Analysis
    11.9. Samsung Electronics Co. Ltd
          11.9.1. Business Overview
          11.9.2. Company Snapshot
          11.9.3. Company Market Share Analysis
          11.9.4. Company Product Portfolio
          11.9.5. Recent Developments
          11.9.6. SWOT Analysis
    11.10. Alibaba Group Holdings Limited
          11.10.1. Business Overview
          11.10.2. Company Snapshot
          11.10.3. Company Market Share Analysis
          11.10.4. Company Product Portfolio
          11.10.5. Recent Developments
          11.10.6. SWOT Analysis
    11.11. American Express Company
          11.11.1. Business Overview
          11.11.2. Company Snapshot
          11.11.3. Company Market Share Analysis
          11.11.4. Company Product Portfolio
          11.11.5. Recent Developments
          11.11.6. SWOT Analysis
    11.12. Millicom International Cellular SA,
          11.12.1. Business Overview
          11.12.2. Company Snapshot
          11.12.3. Company Market Share Analysis
          11.12.4. Company Product Portfolio
          11.12.5. Recent Developments
          11.12.6. SWOT Analysis
    11.13. PayPal Holdings, Inc.
          11.13.1. Business Overview
          11.13.2. Company Snapshot
          11.13.3. Company Market Share Analysis
          11.13.4. Company Product Portfolio
          11.13.5. Recent Developments
          11.13.6. SWOT Analysis
    11.14. WeChat (Tencent Holdings Limited)
          11.14.1. Business Overview
          11.14.2. Company Snapshot
          11.14.3. Company Market Share Analysis
          11.14.4. Company Product Portfolio
          11.14.5. Recent Developments
          11.14.6. SWOT Analysis
    11.15. Apple Inc.
          11.15.1. Business Overview
          11.15.2. Company Snapshot
          11.15.3. Company Market Share Analysis
          11.15.4. Company Product Portfolio
          11.15.5. Recent Developments
          11.15.6. SWOT Analysis
    11.16. Safaricom Limited
          11.16.1. Business Overview
          11.16.2. Company Snapshot
          11.16.3. Company Market Share Analysis
          11.16.4. Company Product Portfolio
          11.16.5. Recent Developments
          11.16.6. SWOT Analysis
 

List of Table

1. Global Mobile Payment Market, By Type 2019-2030 (USD Billion)

2. Global Proximity Payment, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

3. Global Remote Payment, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

4. Global Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

5. Global Mobile Web Payment, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

6. Global Direct Mobile Billing, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

7. Global Near Field Communication, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

8. Global SMS, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

9. Global Mobile App, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

10. Global Interactive Voice Response System, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

11. Global Others, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

12. Global Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

13. Global BFSI, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

14. Global Healthcare, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

15. Global IT and Telecom, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

16. Global Government, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

17. Global Transportation & Logistics, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

18. Global Retail, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

19. Global Media & Entertainment, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

20. Global Others, Mobile Payment Market, By Region, 2019-2030 (USD Billion)

21. North America Mobile Payment Market, By Type 2019-2030 (USD Billion)

22. North America Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

23. North America Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

23. U.S. Mobile Payment Market, By Type 2019-2030 (USD Billion)

25. U.S. Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

26. U.S. Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

27. Canada Mobile Payment Market, By Type 2019-2030 (USD Billion)

28. Canada Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

29. Canada Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

30. Mexico Mobile Payment Market, By Type 2019-2030 (USD Billion)

31. Mexico Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

32. Mexico Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

33. Europe Mobile Payment Market, By Type 2019-2030 (USD Billion)

34. Europe Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

35. Europe Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

36. Germany Mobile Payment Market, By Type 2019-2030 (USD Billion)

37. Germany Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

38. Germany Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

39. France Mobile Payment Market, By Type 2019-2030 (USD Billion)

40. France Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

41. France Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

42. U.K. Mobile Payment Market, By Type 2019-2030 (USD Billion)

43. U.K. Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

44. U.K. Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

45. Italy Mobile Payment Market, By Type 2019-2030 (USD Billion)

46. Italy Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

47. Italy Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

48. Spain Mobile Payment Market, By Type 2019-2030 (USD Billion)

49. Spain Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

50. Spain Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

51. Asia Pacific Mobile Payment Market, By Type 2019-2030 (USD Billion)

52. Asia Pacific Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

53. Asia Pacific Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

54. Japan Mobile Payment Market, By Type 2019-2030 (USD Billion)

55. Japan Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

56. Japan Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

57. China Mobile Payment Market, By Type 2019-2030 (USD Billion)

58. China Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

59. China Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

60. India Mobile Payment Market, By Type 2019-2030 (USD Billion)

61. India Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

62. India Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

63. South America Mobile Payment Market, By Type 2019-2030 (USD Billion)

64. South America Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

65. South America Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

66. Brazil Mobile Payment Market, By Type 2019-2030 (USD Billion)

67. Brazil Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

68. Brazil Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

69. Middle East and Africa Mobile Payment Market, By Type 2019-2030 (USD Billion)

70. Middle East and Africa Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

71. Middle East and Africa Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

72. UAE Mobile Payment Market, By Type 2019-2030 (USD Billion)

73. UAE Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

74. UAE Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

75. South Africa Mobile Payment Market, By Type 2019-2030 (USD Billion)

76. South Africa Mobile Payment Market, By Technology, 2019-2030 (USD Billion)

77. South Africa Mobile Payment Market, By End-User Industry, 2019-2030 (USD Billion)

List of Figures

1. Global Mobile Payment Market Segmentation

2. Global Mobile Payment Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis

7. Value Chain Analysis

8. Global Mobile Payment Market Attractiveness Analysis By Type

9. Global Mobile Payment Market Attractiveness Analysis By Technology

10. Global Mobile Payment Market Attractiveness Analysis By End-User Industry

11. Global Mobile Payment Market Attractiveness Analysis By Region

12. Global Mobile Payment Market: Dynamics

13. Global Mobile Payment Market Share By Type (2022 & 2030)

14. Global Mobile Payment Market Share By Technology (2022& 2030)

15. Global Mobile Payment Market Share By End-User Industry (2022 & 2030)

16. Global Mobile Payment Market Share by Regions (2022 & 2030)

17. Global Mobile Payment Market Share by Company (2021)
 

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. The Brainy Insights has segmented the global mobile payment based on below mentioned segments:

Global Mobile Payment by Type

  • Proximity Payment
  • Remote Payment

Global Mobile Payment by Technology:

  • Mobile Web Payment
  • Direct Mobile Billing
  • Near Field Communication
  • SMS
  • Mobile App
  • Interactive Voice Response System
  • Others

Global Mobile Payment by End-User Industry:

  • BFSI
  • Healthcare
  • IT and Telecommunication
  • Government
  • Transportation & Logistics
  • Retail
  • Media & Entertainment
  • Others

Global Mobile Payment by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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