The global proximity mobile payment market is expected to grow more than US$ 411 bn by the end of 2022 with a robust CAGR of 48% during its forecast period from 2017 to 2022.
Albany, NY -- (SBWIRE) -- 10/24/2017 -- Proximity mobile payment allows making payment for goods and services at a physical point-of-sale terminal without using debit or credit card. In this Near Field Communication (NFC) technology, we bring the mobile close to POS terminal to make payment without touching or swiping anything. According to a latest research report titled "Proximity Mobile Payment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022" which is added into the repository of "Market Research Reports Search Engine (MRRSE)", the global proximity mobile payment market generated a value of nearly US$ 58 bn in 2017.
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As proximity mobile payment is convenient and enables customers as well as shopkeepers to carry out transactions quickly and smoothly, it is increasingly gaining popularity globally and across different sectors. Proximity mobile payment is steadily rising and being adopted fast by developing countries. At the same time, installation of proximity mobile payment requires extensive infrastructure due to which, this technology comes out be an expensive one for number of businesses.
According to the study report, the global proximity mobile payment market is expected to grow more than US$ 411 bn by the end of 2022 with a robust CAGR of 48% during its forecast period from 2017 to 2022.
The report on global proximity mobile payment market begins with an executive summary providing quick summary to key decision makers to understand what is in it for them. The executive summary if then followed by market overview section that provides basics of the market including market taxonomy and market definition. This section also covers current picture of the proximity mobile payment market including market size with forecast in USD, year-on-year growth, market dynamics, cost structure analysis, value chain assessment, profitability margins and key participants involved by region.
Browse Full Report with TOC: https://www.mrrse.com/proximity-mobile-payment-market
For a detailed insight, the report has segmented the proximity mobile payment market into various sub-segments. These segments are mode of payment, end-use industry, region and country. The report shares market analysis and forecast for the period 2012 to 2022 including comparison of revenue, market share and year-on-year growth for each of these segments.
The segment mode of payment is bifurcated into barcode and near field communication. According to the report, near field communication was at US$43.6 bn during 2017 in terms of value and in future likely to continue to dominate the global proximity mobile payment market. It further says that near field communication is expected to hold 87.7% with a value of US$360.9 bn by the end of 2022 at a whopping 52.6% CAGR during forecast period 2017 and 2022.
Geographically, North America is expected to continue in dominating the global proximity mobile payment market in the coming years. The proximity mobile payment market for North America was at US$13 bn in terms of value during 2017 and is expected to grow more than US$98 bn by the end of 2022 with a robust CAGR of 49.8%.
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