The technologies in the global mobile payment market have undergone significant changes in recent years, with a noticeable shift from NFC technology to QR Code, Digital Wallet, and Banking App-Based solutions.
QR Codes, once primarily associated with marketing and advertising, have emerged as a ubiquitous tool for facilitating transactions, offering a simple yet effective method for initiating payments with just a scan. Digital Wallets, on the other hand, have gained traction for their ability to store multiple payment methods securely within a single application, streamlining the checkout process and enhancing user experience. Similarly, Banking App-Based solutions have expanded their capabilities beyond traditional banking services to encompass seamless payment functionalities, leveraging the trust and infrastructure of established financial institutions to provide a reliable and efficient payment experience.
As these technologies continue to evolve and converge, the future of mobile payments promises even greater innovation and accessibility, reshaping the way individuals and businesses engage in financial transactions worldwide.
Emerging Technology in the Mobile Payment Market
Emerging technology trends, which have a direct impact on the dynamics of the industry, include blockchain integration for enhanced security and transparency, biometric authentication for seamless and secure transactions, artificial intelligence and machine learning algorithms for personalized user experiences and fraud detection, and contactless payment methods such as NFC (Near Field Communication) and QR code payments for convenience and hygiene concerns.
Mobile Payment Market by Technology
This report analyzes technology maturity, degree of disruption, competitive intensity, market potential, and other parameters of various technologies in the Mobile Payment Market technology market. The study includes trends and forecast for the technology trends in the Mobile Payment Market by end use industry, technology, and region as follows:
Technology Readiness by Technology Type
Competitive Intensity and Regulatory Compliance
Disruption Potential by Technology Type
Mobile Payment Market Trend and Forecast by Technology [Shipment Analysis by Value from 2018 to 2030]:
• NFC
• QR Code
• WAP & Card-Based
• Digital Wallet
• Banking App-Based
• SMS-Based/DCB
• Others
Mobile Payment Market Trend and Forecast by End Use Industry [Value from 2018 to 2030]:
• BFSI
• Retail
• Healthcare
• Entertainment
• IT and Telecom
• Energy & Utilities
• Hospitality & Tourism
• Others
Mobile Payment Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
Latest Developments and Innovations in the Mobile Payment Technologies
Companies / Ecosystems
Strategic Opportunities by Technology Type
List of Mobile Payment Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies mobile payment companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the mobile payment companies profiled in this report includes.
• Samsung Group
• Google
• Amazon
• Orange
• Paypal
Mobile Payment Market Insight
Lucintel forecasts that remote payment is expected to witness highest growth over the forecast period .
Within this market, BFSI will remain the largest segment.
APAC is expected to witness highest growth over the forecast period.
If you are looking to expand your business in this or adjacent markets, then contact us. We have done hundreds of strategic consulting projects in market entry, opportunity screening, due diligence, supply chain analysis, M & A, and more.
Features of the Global Mobile Payment Market
Market Size Estimates: Mobile payment market size estimation in terms of ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Technology trends in the global mobile payment market size by various segments, such as end use industry and technology in terms of value and volume shipments.
Regional Analysis: Technology trends in the global mobile payment market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different end use industries, technologies, and regions for technology trends in the global mobile payment market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape for technology trends in the global mobile payment market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
This report answers following 11 key questions
Q.1. What are some of the most promising potential, high-growth opportunities for the technology trends in the global mobile payment market by end use industry (BFSI, retail, healthcare, entertainment, IT and telecom, energy & utilities, hospitality & tourism, and others), technology (NFC, QR Code, WAP & card-based, digital wallet, banking app-based, SMS-Based/DCB, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which technology segments will grow at a faster pace and why?
Q.3. Which regions will grow at a faster pace and why?
Q.4. What are the key factors affecting dynamics of different technologies? What are the drivers and challenges of these technologies in the global mobile payment market?
Q.5. What are the business risks and threats to the technology trends in the global mobile payment market?
Q.6. What are the emerging trends in these technologies in the global mobile payment market and the reasons behind them?
Q.7. Which technologies have potential of disruption in this market?
Q.8. What are the new developments in the technology trends in the global mobile payment market? Which companies are leading these developments?
Q.9. Who are the major players in technology trends in the global mobile payment market? What strategic initiatives are being implemented by key players for business growth?
Q.10. What are strategic growth opportunities in this mobile payment technology space?
Q.11. What M & A activities did take place in the last five years in technology trends in the global mobile payment market?
For any questions related to mobile payment market, mobile payment market Size, mobile payment market Growth, mobile payment market Analysis, mobile payment market Report, mobile payment market Share, mobile payment market Trends, mobile payment market Forecast, mobile payment companies write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.