According to a recent report published by Allied Market Research, titled, “Vietnam Mobile Payment Market by Type, Mode of Transaction, End User, Application, and Type of Purchase: Opportunity Analysis and Industry Forecast, 2020-2027,” the Vietnam mobile payment market size was valued at $250 billion in 2019, and projected to reach $2,732 billion by 2027, growing at a CAGR of 30.2% from 2020 to 2027.
The Vietnam mobile payment market has experienced significant impact on revenue, owing to imposition of lockdowns & shutdowns, increasing cashless payments, which have several advantages such as the growing young population structure combined with the fast-growing economy & middle class sectors. Therefore, the mobile payment has experienced significant developments and is expected to bring more benefits & better user experience in the country.
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Scope of the Report:
The market study covers a detailed study of the market along with the help of various methods and tools. The SWOT analysis and Porter’s five forces model provide a detailed study of the major determinants of market growth. In addition, these tools are essential to understanding the profitability of the market.
The global Vietnam Mobile Payment Market report includes a comprehensive study of the dynamic driving and restraining factors, challenges, and lucrative opportunities. In addition, the report offers a SWOT analysis that helps in recognizing the restraining and driving factors in the market. The Vietnam Mobile Payment Market report highlights market segmentation and growth analysis of the leading market players in the industry. The report provides a comprehensive study of the Covid-19 impact on the global Vietnam Mobile Payment Market.
Top Industry Players and Their Growth Strategies:
The global Vietnam Mobile Payment Market report offers a detailed study of the top 10 market players that are currently active in the industry. The report includes sales, revenue analysis, and production of these companies.
The major market players that are studied in the market report are Movi, M_Service, National Payment Corporation of Vietnam (NAPAS), NganLuong.vn, OnePAY, Orange, PayPal Holdings, Inc., SohaPay Electronic Payment Tool, VietUnion Online Services Corporation (Payoo), and VNG Corp.
These companies have adopted several business strategies including new product launches, mergers & acquisitions, partnerships, and collaborations to maintain their foothold in the market.
On the other hand, a detailed analysis of various Vietnam Mobile Payment Market segments helps new market entrants make informed business decisions and profitable investments in the future. Furthermore, it helps market players to gain a competitive advantage. The study of segment and sub-segment is provided in the report in graphical and tabular formats. This study is vital to know the highest revenue-generating and fasting growing segments of the market, which is essential information for making strategic investments.
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The market growth is analyzed with the help of several methods and tools. The SWOT analysis and Porter’s five forces model offer a detailed knowledge of the key determinants of market growth. Moreover, such tools are essential for understanding the profitable opportunities in the market.
Key Market Segments
- BY TYPE
- PROXIMITY PAYMENT
- REMOTE PAYMENT
- BY MODE OF TRANSACTION
- Short Message Service
- Wireless Application Protocol
- Near-Field Communication
- BY END USER
- BY APPLICATION
- Hospitality & Tourism
- Media & Entertainment
- Energy & Utilities
- IT & Telecommunication
- BY TYPE OF PURCHASE
- Airtime Transfer & Top-Ups
- Money Transfers & Payments
- Merchandise & Coupons
- Travel & Ticketing
Key Market Players
- NATIONAL PAYMENT CORPORATION OF VIETNAM (NAPAS)
- PAYPAL HOLDINGS, INC
- SOHAPAY ELECTRONIC PAYMENT TOOL
- VIETUNION ONLINE SERVICES CORPORATION (PAYOO)
- VNG CORP
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