North America constitutes the most profitable regional market for the vendors operating in the m-commerce payments market, expanding the demand at an above-average CAGR of 47.4% during the forecast period of 2017 to 2022.
Albany, NY -- (SBWIRE) -- 10/06/2017 -- With the universality of mobile devices and mobile Internet around the globe, purchasing products and services on mobile devices has become increasingly common. Nowadays, mobile payment is not only a mega-trend but has become a part of everyday life. Owing to the ubiquity of smartphones and technological advancements in terms of security and ease of usage, vast new opportunities will open up in the m-commerce payments market in the near future. To further study the market growth and prospects, a new report has been added to the vast database of Market Research Hub (MRH), with the title of "M-Commerce Payments Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022". This 170-pages study gives readers insights and analysis on how demand for m-commerce payment services is likely to shape during the given forecast period.
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Mobile payments are fundamentally safe, certainly safer than most "analogue" forms of payment. In the present scenario, the global market for m-commerce payments is in the nascent stage. However, the opportunities are expected to exponential increment during the forecast period of 2017 to 2022. Increased penetration of smartphones, growth in m-commerce industry, change in lifestyle, and the need for quick and hassle-free transactions are the major factors that drive the market growth. As per the study evaluations, the global m-commerce payments market was worth merely US$1.11 bn in 2017 and estimates it to reach a valuation of US$7.55 bn by the end of 2022. Rising at this pace, the demand projected to expand at an incredible CAGR of 46.9% during the forecast period of 2017 to 2022.
At first, the report offers a thorough analysis of m-commerce payment market including forecast of the market at regional and global level. The regional segmentation of the report includes the present and forecast demand for m-commerce in regions like North America, Latin America, Japan, Europe, Asia Pacific Excluding Japan, Middle East and Africa. Among these, North America constitutes the most profitable regional market for the vendors operating in the m-commerce payments market.
The report gives readers insights into the key drivers and restraints in the m-commerce payments market, apart from highlighting the opportunities and threats in this market. The research also identifies that m-commerce has the potential to become cheaper than traditional services such as banking, marketing and advertising, and purchasing, which in turn will reflect positively on the global m-commerce payments market.
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Moreover, the report segments the market on the basis of mode of payment, end-use industry, devices, and mode of transaction. Based on the mode of payment, this report segments the global m-commerce payments market into peer-to-peer transfer payments, barcode m-commerce payments, and near field communication m-commerce payments. Among these, the demand for P2P transfer payments is anticipated to expand rapidly. On the basis of transaction, the market has been classified into mobile retailing, mobile booking or ticketing, mobile banking, mobile billing and other modes of transactions. End-use industry highlighted in the study are retail m-commerce, hospitality and tourism, IT and telecommunication, banking, financial services and insurance (BFSI), media and entertainment, healthcare and airline.
Additionally, the competitive landscape is inclusive of the various business strategies adopted by major players and their recent developments in the field of m-commerce payments. Some of the key companies currently actively in the global m-commerce payments market are: Paypal Holdings, Inc., Samsung Electronics Company Limited, Alphabet Inc., Apple Inc., Fiserv, Inc., Mastercard Incorporated, Visa, Inc., ACI Worldwide, Inc., Fidelity National Information Services, Inc., DH Corporation, Square, Inc., and Jack Henry & Associates Inc.
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