The m-commerce payment global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
M commerce Payment Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The m-commerce payment market size has grown exponentially in recent years. It will grow from $9.84 billion in 2023 to $13.63 billion in 2024 at a compound annual growth rate (CAGR) of 38.5%. The growth in the historic period can be attributed to mobile internet adoption, secure payment technologies, e-wallets and mobile apps, convenience, improved mobile user experience.
The m-commerce payment market size is expected to see exponential growth in the next few years. It will grow to $52.31 billion in 2028 at a compound annual growth rate (CAGR) of 40.0%. The growth in the forecast period can be attributed to contactless payments growth, biometric authentication, blockchain in mobile payments, integration of ai and machine learning, expansion of cryptocurrency payments. Major trends in the forecast period include qr code payments, in-app purchases, mobile banking integration, wearable device payments, peer-to-peer mobile payments.
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Scope Of M commerce Payment Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The increasing mobile and internet penetration is expected to propel the growth of the m-commerce payment market. M-commerce payment is the use of wireless handheld devices like mobile phones and tablets to conduct commercial transactions online, including the purchase and sale of products, online banking, and paying bills. The increasing internet access and penetration allow more people to access m-commerce services, driving the market. According to Data Reportal, a Singapore-based business intelligence company, as of October 2021, 4.88 billion people (almost 62%) in the world are using the internet. According to forecasts from Ericsson and The Radicati Group, the number of smartphone users is expected to increase from 6.05 billion in 2020 to nearly 7.33 billion by 2025. Therefore, increasing mobile and internet penetration is driving the m-commerce payment market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The m-commerce payment market covered in this report is segmented –
1) By Payment Method: Near Field Communication, Premium SMS, Wireless Application Protocol, Direct Carrier Billing
2) By Mode of Transaction: Mobile Retailing, Mobile Booking or Ticketing, Mobile Banking, Mobile Billing
3) By End-use Industry: Retail, Hospitality And Tourism, IT And Telecommunication, BFSI, Media And Entertainment, Healthcare, Airline
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Regional Insights –
Asia-Pacific was the largest region in the m-commerce payment market in 2023. Asia-Pacific is expected to have the highest CAGR in m-commerce payment market share. The regions covered in the m-commerce payment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the m-commerce payment market report are ACI Worldwide Inc., Alphabet Inc., Bharat Interface for Money, Fidelity National Information Services (FIS), Fiserv Inc., Freecharge, Mastercard Inc., MobiKwik, Orange S. A, PayPal Holdings Inc., PayU, Samsung Group, Square Inc., Visa Inc., Alibaba Group, American Express Company, Apple Inc., UnionPay, DH Corporation (D+H now part of Finastra), Discover Financial Services LLC, Ingenico SA, Jack Henry & Associates Inc., Tencent Holdings Ltd., Boku Inc., Telefonaktiebolaget LM Ericsson, Thales Group, International Business Machines Corporation (IBM), Oxygen8 Solutions Inc., SAP SE, BlueSnap Inc., Global Payments Inc., Klarna Bank AB, Payoneer Global Inc., Paysafe Limited, Stripe Inc.
Table of Contents
1. Executive Summary
2. M commerce Payment Market Report Structure
3. M commerce Payment Market Trends And Strategies
4. M commerce Payment Market – Macro Economic Scenario
5. M commerce Payment Market Size And Growth
…..
27. M commerce Payment Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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