Report Id: SNS/ICT/1584 | June 2022 | Region: Global | 125 Pages
Report Scope & Overview:
M-commerce Payment Market size was valued at USD 11.80 Bn in 2022 and is expected to reach USD 58.69 Bn by 2030, and grow at a CAGR of 22.2% over the forecast period 2023-2030.
The m-commerce payment industry is made up of businesses (organizations, single traders, and partnerships) that buy and sell products and services online using smartphones and tablets. M-commerce payments relate to the usage of mobile phones and tablets to execute online transactions for any online product or service purchase. M-commerce payments are advantageous since they reduce time and effort for the user.
Near field communication, premium SMS, wireless application protocol, and direct carrier billing are the most common payment mechanisms in the m-commerce business. Near-field communication (NFC) is a wireless technology that improves the performance of smartphones, tablets, wearables, credit cards, and other devices across short distances. NFC technology, which is utilized in mobile wallets, allows for contactless payments. Mobile retailing, mobile booking or tickets, mobile banking, and mobile billing are examples of m-Commerce transactions utilized by end-use sectors such as retail, hospitality and tourism, IT and communications, BFSI, media and entertainment, healthcare, and airlines.
According to Bloomberg, Apple paid $100 million for the Canadian start-up Mobeewave in July 2020. Merchants may take card payments with only a tap on the customer's iPhone thanks to Mobeewave's award-winning, patented technology. Customers that have the Mobeewave app on their iPhone may make cashless payments as well. According to Crunchbase, Mobeewave provides users with "a real wallet experience...enabling in-person consumer-to-consumer transactions, between strangers as well as friends and family, in a safe, trustworthy, and open environment.
MARKET DYNAMICS:
KEY DRIVERS:
M-commerce payments are becoming more popular for online buying and banking. Payment.
Convenience and reduced transaction time.
RESTRAINTS:
Data breaches are becoming more common.
Payment gateways are more expensive and tend to be used in certain locations.
There's a problem with the application and the network, plus there's a lot of competition.
OPPORTUNITY
The number of advances and activities relating to digitalized payments is rapidly increasing.
IMPACT OF COVID-19:
The COVID-19 pandemic has had a considerable influence on the m-commerce payment sector, leading to a rise in consumer use and adoption of online and digitalized payment methods throughout the world. Consumers are becoming more accustomed with payment technologies in the market, which is driving significant development in the m-commerce payments sector. Furthermore, banks and fintech companies are offering m-commerce payment solutions to their consumers all over the world in order to speed up transaction times and improve the market for digitalized payments. As a result, amid the global health crisis, this has become one of the primary development causes for the m-commerce payment sector.
MARKET ESTIMATION:
During the period 2022-28, the M-Retail segment is expected to develop at the fastest rate. M-Retailing, M-ticketing, M-Billing, and Others are the four transaction types that make up global M-commerce payment. As a consequence of the spread of mobile payment solutions such as Apple Pay, PayPal One-Tap, Visa Checkout, Amazon Pay, and others, the M-Retailing category held the greatest market share in 2021. On the other hand, consumer demand for online shopping and widespread usage of smartphones for online shopping is projected to create chances for M-commerce Payment enterprises, accelerating market growth.
M-commerce on a global scale Near Field Communication, Premium SMS, Wireless Application Protocol, and Direct Carrier Billing is the payment methods. The Near Field Communication category is expected to grow at the quickest rate throughout the forecast period. Apple Pay, Samsung Pay, and Google Pay are just a few of the digital wallets that employ NFC for contactless card readers, which is predicted to boost the mobile commerce payment sector. NFC phones may connect with NFC-enabled card machines via near proximity radio frequency recognition. Cell phones do not need to touch the point of sale to pass money, but they must be within a few inches of it. NFC needs a direct and instantaneous flow of encrypted data to point-of-sale devices, as opposed to chip and PIN technology, which takes longer to process. Buses and tube stations in London, for example, accept phone payments using NFC, which is normally done by touching the transit card.
KEY MARKET SEGMENTS:
On The Basis of Payment Method
Mobile Web Payments
Near-field Communication
SMS/Direct Carrier Billing
Others
On The Basis of Transaction Type
M-retailing
M-ticketing
M-billing
Others
On The Basis of Application
Personal
18 to 30 Year
31 to 54 Year
55 to 73 Year
Business
REGIONAL ANALYSIS:
M-commerce on a global scale in terms of revenue, Asia Pacific held the greatest market share in the year 2021. Consumers in growing economies such as China and India have greater purchasing power and disposable money, allowing them to purchase more items and thereby expanding the market. North America has played a key role in creating M-commerce as a vital component of day-to-day commercial transactions. An expanding client base for mobile commerce, the rising popularity of portable devices, and the spread of technology are all aspects that contribute to market growth in the European area.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
KEY PLAYERS:
The major key players are ACI Worldwide, Inc., Alphabet Inc. (Google), Apple Inc., FIS, Fiserv, Inc., Ingenico, Mastercard, PayPal Holdings, Inc., Square, Inc., Visa, Inc.
Report Attributes | Details |
Market Size in 2022 | US$ 11.80 Bn |
Market Size by 2030 | US$ 58.69 Bn |
CAGR | CAGR of 22.2% From 2023 to 2030 |
Base Year | 2022 |
Forecast Period | 2023-2030 |
Historical Data | 2020-2021 |
Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments | • by Payment Method (Mobile Web Payments, Near-field Communication, SMS/Direct Carrier Billing, Others) • by Transaction Type (M-retailing, M-ticketing, M-billing, Others), by Application (Personal, 18 to 30 Year, 31 to 54 Year, 55 to 73 Year, Business) |
Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
Company Profiles | ACI Worldwide, Inc., Alphabet Inc. (Google), Apple Inc., FIS, Fiserv, Inc., Ingenico, Mastercard, PayPal Holdings, Inc., Square, Inc., Visa, Inc. |
Key Drivers | • M-commerce payments are becoming more popular for online buying and banking. Payment • Convenience and reduced transaction time |
Market Opportunities | • The number of advances and activities relating to digitalized payments is rapidly increasing |
Frequently Asked Questions (FAQ) :
Ans: - The M-commerce Payment market size was valued at USD9.66 Bn in 2021.
Ans: - Data breaches are becoming more common and Payment gateways are more expensive and tend to be used in certain locations.
Ans: - Asia Pacific held the greatest market share in the year 2021.
Ans: - The major key players are ACI Worldwide, Inc., Alphabet Inc. (Google), Apple Inc., FIS, Fiserv, Inc., Ingenico, Mastercard, PayPal Holdings, Inc., Square, Inc., Visa, Inc.
Ans. The study includes a comprehensive analysis of Speech-to-text API Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. M-commerce Payment Market Segmentation, by Payment Method
8.1 Mobile Web Payments
8.2 Near-field Communication
8.3 SMS/Direct Carrier Billing
8.4 Others
9. M-commerce Payment Market Segmentation, by Transaction Type
9.1 M-retailing
9.2 M-ticketing
9.3 M-billing
9.4 Others
10. M-commerce Payment Market Segmentation, by Application
10.1 Personal
10.2 18 To 30 Year
10.3 31 To 54 Year
10.4 55 To 73 Year
10.5 Business
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 ACI Worldwide, Inc.
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Alphabet Inc. (Google)
12.3 Apple Inc.
12.4 FIS
12.5 Fiserv, Inc.
12.6 Ingenico
12.7 Mastercard
12.8 PayPal Holdings, Inc.
12.9 Square, Inc.
12.10 Visa, Inc.
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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