VALLEY COTTAGE, N.Y. , Sept. 10, 2018 (GLOBE NEWSWIRE) -- Future Market Insights (FMI) in its research report, titled, “Mobile Payment Transaction Services Market: Global Industry Analysis and Opportunity Assessment 2014-2020” projects the mobile payment transaction services market to expand at a CAGR of 39.1% during the period 2014-2020.
According to FMI, proliferation of mobile devices and increasing adoption of mobile money services across financial institutions and other vendors are the key factors driving the mobile payment transaction services market. Merchants and vendors around the world are upgrading their POS systems to facilitate mobile payment, and FMI expects this trend to continue during the forecast period.
Key factors that can impede the growth of the mobile payment transaction services market include issues with data security and privacy, and limited awareness among consumers. FMI estimates these factors to have a moderate impact on the mobile payment transaction services market growth.
Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-262
On the basis of key applications, FMI has segmented the mobile payment transaction services market into money transfer, merchandise purchase, airtime top-ups, bill payment, ticketing, and ‘others’.
In terms of market value, money transfer segment accounted for 51.1% share of the mobile payment transaction market in 2014. However, the segment is expected to lose 780 BPS by the end of 2020. In contrast, merchandise purchase segment is anticipated to gain traction during the forecast period, accounting for 49.9% share of the overall market revenue by 2020.
Airtime top-ups, bill payment, ticketing, and ‘others’ segments collectively accounted for 8.3% share of the mobile payment transaction services market revenue; FMI estimates it to drop to 6.9% by the end of forecast period.
The global mobile payment transaction volume is anticipated to reach 106 Bn by 2020. In terms of volume, merchandise purchase segment is anticipated to account for 39.8% share of the market, witnessing increase of 670 BPS.
Use of mobile payment services for money transfer is expected to witness a decline of 430 BPS in its market share by the end of forecast period. Furthermore, airtime top-ups segment is also anticipated to lose 480 BPS and account for 19.2% share of the market volume by 2020.
Our advisory services are aimed at helping you with specific, customised insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-262
Africa and Asia Pacific are the two most lucrative regions for mobile payment transaction services market. In terms of value, these two regions collectively accounted for nearly 58% share of the global market in 2014. FMI forecasts that these two regions will continue to dominate the global market during the forecast period.
A key development in the global mobile payment transaction services market is that Asia Pacific will outpace Africa to become the largest market. FMI estimates Asia Pacific mobile payment transaction services market to account for 27% of the global mobile payment transaction service market revenue by 2020.
Among all the regions, North America is poised to witness the significant growth. North America held a 22.8% value share of the global market in 2014, and it is anticipated that by 2020, it will increase to 24.9%.
In terms of transaction volume, Asia Pacific and Africa will continue to remain lucrative, however, strong growth in North America and Western Europe is anticipated to eat into their market share. On the other hand, the collective market share of Latin America, Middle East, and Eastern Europe is projected to reach 10.4% by 2020.
The key companies profiled in FMI’s research report include PayPal, Visa, MasterCard, and Google Wallet. These companies are tying up with leading vendors to consolidate their position in this rapidly expanding market.
Pre Book Full Report @ https://www.futuremarketinsights.com/checkout/262
More from FMI’s Electronics, Semiconductors, and ICT Market Intelligence:
- B2B Telecommunication Market Segmentation By Solution - Unified Communication and Collaboration, VoIP, WAN, Cloud Services, M2M Communication; By End User - Small & Medium Enterprise, Large Enterprise; By Vertical – BFSI, Healthcare, Media and Entertainment, Government, Energy and Utility, Retail, Transportation and Logistics: https://www.futuremarketinsights.com/reports/b2b-telecommunication-market
- Metrology Software Market Segmentation By Industry Vertical- Aerospace and Defence, Automotive, Consumer Electronics, Power and Energy, Medical, Industrial Manufacturing, Others (Media and Entertainment, R&D etc.); Application- Quality Control and Inspection, Measurement and Alignment, Reverse Engineering, Virtual Simulation, Others (Tool Building etc.): https://www.futuremarketinsights.com/reports/metrology-software-market
- Programmatic Display Market Segmentation By Transaction Mode- Real Time Bidding, Private Marketplace, Automated Guaranteed; Ad Format- Desktop Display, Desktop Video, Mobile Display, Mobile Video: https://www.futuremarketinsights.com/reports/programmatic-display-advertising-market
About Us
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.
Browse More Electronics, Semiconductors, and ICT Market Insights
Contact Us
Mr. Sudip Saha
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
Press Office: Press@futuremarketinsights.com
FMI Blog: http://www.fmiblog.com/
Website: www.futuremarketinsights.com