Harrisburg, NC -- (SBWIRE) -- 08/20/2018 -- The global mobile payment security software market is expected to register a CAGR of 9.14%, over the forecast period (2018 - 2023).
Report elaborates the complete details covering product definition, product type, and application. The report covers useful details which are categorized based on Mobile Payment Security Software production region, major players, and product type which will provide a simplified view of the Mobile Payment Security Software industry. The Mobile Payment Security Software market report presents the competitive scenario of the major market players based on the sales revenue, customer demands, company profile, the business tactics used in Mobile Payment Security Software market which will help the emerging market segments in making vital business decisions.
Global Mobile Payment Security Software Market by Top Manufacturers (2018-2023): Ca Technologies, Vasco, Ul, Symantec, Verifone, Magtek, Emc, Vantiv, Ncr, Scansource, Fis, Cybera, Ingenico, Fico, And Chase Paymentech, Amongst Others.
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Essential points covered in Mobile Payment Security Software Market 2018 Research are:-
- What will the market size and the growth rate be in 2023?
- What are the key factors driving the Mobile Payment Security Software market?
- What are the key market trends impacting the growth of the Mobile Payment Security Software market?
- What are the challenges to market growth?
- Who are the key vendors in the Mobile Payment Security Software market?
- What are the market opportunities and threats faced by the vendors in the Mobile Payment Security Software market?
- What are the key outcomes of the five forces analysis of the Mobile Payment Security Software market?
This independent 108 pages report guarantees you will remain better informed than your competition. With figures examining the Mobile Payment Security Software market, the report gives you a visual, one-stop breakdown of the leading products, submarkets and market leader's market revenue forecasts as well as analysis to 2023.
Mobile payment methods are expected to grow at a significant rate, owing to the increasing smartphone penetration and the various benefits associated with them, such as improved customer experience, which results in shorter waiting times in queues and wider payment offers to customers. Mobile payment can be performed either by SMS via QR codes, or Near Field Communication (NFC). Consumers are becoming increasingly familiar with using mobile phones for various purposes, including secure financial transactions via mobile applications, or web banking site. Furthermore, increasing adoption of mobile wallets in both emerging and developed countries is providing numerous opportunities for service providers and merchants. Mobile phones are also providing an unprecedented opportunity for the expansion of financial activity in the developing countries, where the number of phone users is expected to exceed the number of those having bank accounts. However, the mobile payment option increases the importance of a proper security for the system. Hence, the mobile payment security software market is expected to grow massively during the forecast period.
The driving factor for the market growth lies with the enhanced number of advanced and sophisticated threats. The need for mobile payment security software has increased, owing to the recent growing usage of wireless networks among individual consumers. The augmented utilization of wireless networks in mobile devices for payment in retail stores has increased the need for mobile payment security software.
The growing adoption of multi-factor authentication techniques are also expected to aid the growth of market. However, the government regulations and compliance, and retailer payment policies are expected to hinder the market growth.
Rapid Adoption of Mobile Biometrics is Driving the Growth of Mobile Security Software Market
The mobile biometrics market is expected to gain full maturity by 2022, due to a consumer adoption phase since 2015. It is expected that by 2022, these authentication systems may be ubiquitous and installed in almost every mobile phone. Integration of embedded software and sensors to secure the use of mobile biometric applications and components operate on mobile devices, like smartphones, tablets, and wearables, are also driving the mobile payment security software market. As the demand for mobile application security, particularly for financial services, along with low-cost apps and on-demand provisioning of software increases, the cost of biometric integration is expected to decline. Moreover, consumers' clamor to eliminate their reliance on passwords and pins is further driving the growth in the market.
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North America expected to Hold the Largest Share in the Market in 2018
North America is expected to account for more than 46% of the total market share by 2023. The major reason for the growth is attributed to the high penetration rate of smartphones and an increase in the number of mobile internet users. The adoption of mobile payment is increasing in the United States. Additionally, the increasing popularity and awareness about the usage of digital wallets for e-commerce transactions is also expected to enhance the growth of the North American market.
The continuous growth of the mobile payment market has become the driving force behind the development of the mobile payment security software market. Payment security is a major concern for cell phone manufacturers to sell their devices, and therefore, many new security software products are in development. In order to protect users' mobile payment security, mobile security software developers not only vertically protect the safety of the whole industry, including terminal manufacturers, operators, application developers, and other developers, but also actively disseminate mobile security software ecosystems.
Reasons to Purchase This Report
- Identification of key factors instrumental in changing the market scenario, exploiting new opportunities, and gaining competitive edge
- Analyzing various perspectives of the market with the help of Porter's five forces analysis
- End-user industry that is likely to witness highest adoption of these software
- Regions that are expected to witness the fastest growth during the forecast period
- SWOT analysis for key players and a detailed study of their current strategic interests and key financial performance indicators
- 3 months analyst support, along with the Market Estimate sheet (in excel)
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