Mobile Money/Payments Market Worth $278.9 Billion by 2018
DALLAS, February 11, 2013 /PRNewswire via COMTEX/ --
According to a new market research report "Mobile Money Market: (Mobile Payments, Mobile Remittance, Mobile Banking & Mobile Commerce) - Advanced Technologies, Value Chain, Adoption Trends & Worldwide Market Forecasts (2013-2018)", are forecasted with detailed segmentation: based on the transaction mode (NFC / Smart cards, Direct operator billing, Mobile Web / WAP, SMS and others), based on payment location (Remote payments, Proximity payments), Based on nature of Payments (Person to Person (P2P), Person to Business (P2B), Business to Person (B2P), Business to Business (B2B)) and based on type of purchases (Air time transfers & Top Ups, Money Transfers and Mobile Payments, Merchandise & coupons, Travel Ticketing & Food, Digital products purchases).
Browse 112 market data tables and 61 figures spread through 272 pages and in-depth TOC on "Mobile Money: Mobile Payments, Mobile Remittance, Mobile Banking & Mobile Commerce Market - Advanced Technologies, Value Chain, Adoption Trends & Worldwide Market Forecasts (2013-2018)"
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The mobile phone, which are seen as the device for the upper crust, has changed and the number of mobile phones is expected to surpass the world's population in the coming years. The Ubiquity of mobile phones and the major chunk of people who have no formal access to banks are the key drivers for the Mobile Money market. Mobile Money will offer a rewarding opportunity in terms of revenue for the people in its ecosystem both in the near future and over the long term. While talking about its ecosystem, it constitutes many industries such as mobile network operators, banks and financial institutions, payment processors, mobile money platform providers, handset manufacturers, etc. because of its fragmented nature of the market.
The report also discusses the total Mobile Payments in terms of transaction value, total mobile money users and the active mobile money users forecast trends. The mobile transaction value is segmented based on industry verticals such as Banking and Financial Services, Telecommunication, Media and Entertainment, Hospitality, Consumer Goods & Retail and Other verticals. MarketsandMarkets also forecasted the Installed base and unit shipments for NFC enabled devices over the period of 2013 -2018. The global Advancements, Business Models, Drivers, Restraints and Opportunities are also presented in the report.
The Mobile Money market is expected to grow from $13.8 billion in 2013 to $278.9 billion by 2018, at an estimated CAGR of 82.4% over the same period.
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