Mobile payments market 2023-2027: A descriptive analysis of five forces model, market dynamics, and segmentation - Technavio

NEW YORK, Jan. 12, 2023 /PRNewswire/ -- According to Technavio, the global mobile payments market size is estimated to grow by USD 75,412.89 million from 2022 to 2027. The market is estimated to grow at a CAGR of 20.49% during the forecast period. Moreover, the growth momentum will accelerate. APAC will account for 43% of the growth of the global market during the forecast period. 

For more insights on market size, request a sample report

Global mobile payments market - Five forces
The global mobile payments market is fragmented, and the five forces analysis covers – 

• Bargaining power of buyers 
• The threat of new entrants
• Threat of rivalry
• Bargaining power of suppliers
• Threat of substitutes
• For interpretation of Porter's five forces model – buy the report!

Global mobile payments market – Customer landscape 

The report includes the market's adoption lifecycle, from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global mobile payments market - Segmentation assessment

Segment overview
Technavio has segmented the market based on type (money transfers, merchandise purchases, bill payments, and others) and location (remote payment and proximity payment). 

• The remote payment segment will contribute significantly to the growth of the global market during the forecast period. The introduction of mobile payment gateways has simplified the process of paying bills. Several retail outlets have POS terminals for transactions. Moreover, near-field communication (NFC)-based mobile payment options are highly secure. Such benefits will drive the growth of this segment during the forecast period.

Geography Overview
Based on geography, the global mobile payments market is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global mobile payments market.

• APAC is estimated to account for 43% of the growth of the global market during the forecast period. Rapid urbanization and the increasing penetration of internet services are driving the growth of the regional market. The market is also propelled by the growing adoption of various mobile payment methods such as wallets and payment gateways. The governments of various countries in the region are taking initiatives to promote mobile payments. For instance, the Government of India has been undertaking measures to promote mobile payments. Owing to such factors, the regional market will grow significantly during the forecast period.

Download a sample report

Global mobile payments market – Market dynamics

Key factor driving market growth

• The rising number of online transactions is driving market growth.
• Online payments are easy, fast, and convenient when compared to traditional methods.
• Devices such as smartphones enable consumers to conduct online transactions anytime and anywhere.
• Digital wallets are becoming popular due to features such as easy registration and login, robust merchant and consumer payment processing capabilities, and user-friendly dashboards.
• Moreover, many retailers are implementing platforms that facilitate mobile payments, such as NFC POS terminals.

Leading trends influencing the market 

• The growing emergence of mobile apps for shopping transactions is a key trend in the market.
• Online shopping transactions on mobile apps have increased when compared to those on websites owing to the rise in the market share of smart devices. Hence, vendors are shifting from websites to app-only services. 
• Mobile payments in countries such as India have grown significantly in recent years, as many consumers and businesses adopted mobile payments during the COVID-19 pandemic.
• Such factors will increase the use of online transactions, which will support market growth during the forecast period.

Major challenges hindering market growth

• Privacy and security concerns are challenging the market growth.
• Privacy issues can lead to the leakage of sensitive information such as addresses, credit card information, passwords, and other identifying information.
• In addition, many companies collect big data through cookies and other methods to provide targeted advertising.
• These factors might pose a risk to consumers, which will hinder the potential growth of the market during the forecast period.

Drivers, trends, and challenges have an impact on market dynamics, which can impact
businesses. Find some insights from a sample report!

What are the key data covered in this mobile payments market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the mobile payments market between 2023 and 2027
• Precise estimation of the size of the mobile payments market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the mobile payments market across APAC, Europe, North America, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of mobile payments market vendors

Gain instant access to 17,000+ market research reports. 

Technavio's SUBSCRIPTION platform

Related Reports:

The credit card payments market size is expected to increase by USD 147.16 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 7.66%. This report extensively covers market segmentation by end-user (consumer or individual and commercial) and geography (North America, APAC, Europe, South America, and the Middle East and Africa).

The digital payment market size is expected to increase by USD 85.12 billion from 2021 to 2026, and the market's growth momentum will decelerate at a CAGR of 17.41%. This report extensively covers market segmentation by component (solutions and services) and geography (APAC, North America, Europe, South America, and MEA).

Browse for Technavio's consumer discretionary market reports

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Location
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global mobile payments market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global mobile payments market 2017 - 2021 ($ million)

• 4.2 Location Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Location Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Location

• 6.1 Market segments 
• Exhibit 30: Chart on Location - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Location - Market share 2022-2027 (%)

• 6.2 Comparison by Location 
• Exhibit 32: Chart on Comparison by Location
• Exhibit 33: Data Table on Comparison by Location

• 6.3 Remote payment - Market size and forecast 2022-2027
• Exhibit 34: Chart on Remote payment - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Remote payment - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Remote payment - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Remote payment - Year-over-year growth 2022-2027 (%)

• 6.4 Proximity payment - Market size and forecast 2022-2027
• Exhibit 38: Chart on Proximity payment - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Proximity payment - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Proximity payment - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Proximity payment - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Location 
• Exhibit 42: Market opportunity by Location ($ million)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 43: Chart on Type - Market share 2022-2027 (%)
• Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 45: Chart on Comparison by Type
• Exhibit 46: Data Table on Comparison by Type

• 7.3 Money transfers - Market size and forecast 2022-2027
• Exhibit 47: Chart on Money transfers - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Money transfers - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Money transfers - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Money transfers - Year-over-year growth 2022-2027 (%)

• 7.4 Merchandise purchases - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Merchandise purchases - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Merchandise purchases - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Merchandise purchases - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Merchandise purchases - Year-over-year growth 2022-2027 (%)

• 7.5 Bill payments - Market size and forecast 2022-2027
• Exhibit 55: Chart on Bill payments - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Bill payments - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Bill payments - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Bill payments - Year-over-year growth 2022-2027 (%)

• 7.6 Others - Market size and forecast 2022-2027
• Exhibit 59: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.7 Market opportunity by Type 
• Exhibit 63: Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 64: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 65: Chart on Market share by geography 2022-2027 (%)
• Exhibit 66: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 67: Chart on Geographic comparison
• Exhibit 68: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 69: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 70: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 71: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 72: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 73: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 81: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 89: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027
• Exhibit 97: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 101: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 South Korea - Market size and forecast 2022-2027
• Exhibit 105: Chart on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on South Korea - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on South Korea - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on South Korea - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 109: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 110: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 111: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 112: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 113: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 114: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 115: Matrix on vendor position and classification

• 12.3 Alibaba Group Holding Ltd 
• Exhibit 116: Alibaba Group Holding Ltd - Overview
• Exhibit 117: Alibaba Group Holding Ltd - Business segments
• Exhibit 118: Alibaba Group Holding Ltd - Key offerings
• Exhibit 119: Alibaba Group Holding Ltd - Segment focus

• 12.4 Alphabet Inc. 
• Exhibit 120: Alphabet Inc. - Overview
• Exhibit 121: Alphabet Inc. - Business segments
• Exhibit 122: Alphabet Inc. - Key news
• Exhibit 123: Alphabet Inc. - Key offerings
• Exhibit 124: Alphabet Inc. - Segment focus

• 12.5 Amazon.com Inc. 
• Exhibit 125: Amazon.com Inc. - Overview
• Exhibit 126: Amazon.com Inc. - Business segments
• Exhibit 127: Amazon.com Inc. - Key news
• Exhibit 128: Amazon.com Inc. - Key offerings
• Exhibit 129: Amazon.com Inc. - Segment focus

• 12.6 American Express Co. 
• Exhibit 130: American Express Co. - Overview
• Exhibit 131: American Express Co. - Business segments
• Exhibit 132: American Express Co. - Key offerings
• Exhibit 133: American Express Co. - Segment focus

• 12.7 Apple Inc. 
• Exhibit 134: Apple Inc. - Overview
• Exhibit 135: Apple Inc. - Business segments
• Exhibit 136: Apple Inc. - Key news
• Exhibit 137: Apple Inc. - Key offerings
• Exhibit 138: Apple Inc. - Segment focus

• 12.8 JPMorgan Chase and Co. 
• Exhibit 139: JPMorgan Chase and Co. - Overview
• Exhibit 140: JPMorgan Chase and Co. - Business segments
• Exhibit 141: JPMorgan Chase and Co. - Key offerings
• Exhibit 142: JPMorgan Chase and Co. - Segment focus

• 12.9 Mastercard Inc. 
• Exhibit 143: Mastercard Inc. - Overview
• Exhibit 144: Mastercard Inc. - Product / Service
• Exhibit 145: Mastercard Inc. - Key news
• Exhibit 146: Mastercard Inc. - Key offerings

• 12.10 MoneyGram International Inc. 
• Exhibit 147: MoneyGram International Inc. - Overview
• Exhibit 148: MoneyGram International Inc. - Business segments
• Exhibit 149: MoneyGram International Inc. - Key offerings
• Exhibit 150: MoneyGram International Inc. - Segment focus

• 12.11 NASPERS Ltd. 
• Exhibit 151: NASPERS Ltd. - Overview
• Exhibit 152: NASPERS Ltd. - Business segments
• Exhibit 153: NASPERS Ltd. - Key offerings
• Exhibit 154: NASPERS Ltd. - Segment focus

• 12.12 One97 Communications Ltd. 
• Exhibit 155: One97 Communications Ltd. - Overview
• Exhibit 156: One97 Communications Ltd. - Product / Service
• Exhibit 157: One97 Communications Ltd. - Key offerings

• 12.13 PayPal Holdings Inc. 
• Exhibit 158: PayPal Holdings Inc. - Overview
• Exhibit 159: PayPal Holdings Inc. - Product / Service
• Exhibit 160: PayPal Holdings Inc. - Key offerings

• 12.14 Samsung Electronics Co. Ltd. 
• Exhibit 161: Samsung Electronics Co. Ltd. - Overview
• Exhibit 162: Samsung Electronics Co. Ltd. - Business segments
• Exhibit 163: Samsung Electronics Co. Ltd. - Key news
• Exhibit 164: Samsung Electronics Co. Ltd. - Key offerings
• Exhibit 165: Samsung Electronics Co. Ltd. - Segment focus

• 12.15 Tencent Holdings Ltd. 
• Exhibit 166: Tencent Holdings Ltd. - Overview
• Exhibit 167: Tencent Holdings Ltd. - Business segments
• Exhibit 168: Tencent Holdings Ltd. - Key offerings
• Exhibit 169: Tencent Holdings Ltd. - Segment focus

• 12.16 Visa Inc. 
• Exhibit 170: Visa Inc. - Overview
• Exhibit 171: Visa Inc. - Product / Service
• Exhibit 172: Visa Inc. - Key offerings

• 12.17 Vodafone Group Plc 
• Exhibit 173: Vodafone Group Plc - Overview
• Exhibit 174: Vodafone Group Plc - Business segments
• Exhibit 175: Vodafone Group Plc - Key offerings
• Exhibit 176: Vodafone Group Plc - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 177: Inclusions checklist
• Exhibit 178: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 179: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 180: Research methodology
• Exhibit 181: Validation techniques employed for market sizing
• Exhibit 182: Information sources

• 13.5 List of abbreviations 
• Exhibit 183: List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
 

View original content to download multimedia:https://www.prnewswire.com/news-releases/mobile-payments-market-2023-2027-a-descriptive-analysis-of-five-forces-model-market-dynamics-and-segmentation---technavio-301717744.html

SOURCE Technavio

[ Back To TMCnet.com's Homepage ]